Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

6064 Paddlefish Drive Fort Worth, TX 76179

3 Beds 2 Baths 1,807 sqft Built 2014

$259,900

List Price

$1,660

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

FACTS
  • Built In 2014
  • Price/Sqft : $143.83
  • 11 Days on Market
  • MLS # : 14455846
  • Updated Date : 10/24/2020 at 18:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,807 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Realty Ftworth

Listing Agent's Description

DESIRED MARINE CREEK RANCH! 1 OWNER LIKE NEW! YOU KNOW IT IS PRISTINE FROM THE ENTRY! SPACIOUS OPEN LIVING FEATURES HIGH CEILINGS, STONE FIREPLACE WITH GAS FOR FIREPLACE. FOR THE CHEF IN THE FAMILY LOOK AT THIS KITCHEN! GAS STOVE, GRANITE COUNTERS & ISLAND ALONG WITH AN ABUNDANCE OF CABINETS & W-I PANTRY. SPLIT BEDROOM FLOOR PLAN FOR PRIVATE MASTER SUITE WITH BAY WINDOW SITTING AREA. W-I SHOWER, SOAKER TUB, W-I CLOSET WIRED FOR VIDEO SECURITY FOR HOME. AMAZING EXTRAS & UPGRADES LIKE LARGE WRAP AROUND SLAB FOR PATIO ENTERTAINING. WORKSHOP-STORAGE BUILDING. PLUS EXTRA SLAB & WIRING FOR A HOT TUB! GARAGE IS OVERSIZED 25X25 WITH BUILT IN HEATER, CABINETS, & 220 PLUG! CORNER LOT, SPRINKLER SYS., COMMUNITY POOL

SEE MORE

MARKET HIGHLIGHTS

  • . Dallas has 7th largest concentration of high-tech jobs in the U.S. (Dallas Chamber)
  • # 1 in the country for job growth in 2017 (2.6% growth, 91,700 new jobs) (US Census, Forbes, 2017)
  • Dallas metro's economy is worth $579 billion in Gross Metro Product and projected to grow to $613 billion in 2019 (USMayors.org, 2018)
  • Home to 20 Fortune 500 headquarters, 39 Fortune 1000 headquarters and 12 of Forbes' top private companies (Fortune)
  • Dallas metro contributes to 31.9%% of Texas state economy i.e. Gross State Product (USMayors.org, 2018)
  • Dallas metro has 67.1% labor force participation rate higher than the national rate 62.8% (USMayors.org, 2018)

PRICE & RENT TRENDS

Neighborhood: Marine Creek Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260kPrice in $104k269k

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

Neighborhood: Marine Creek Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100011001200130014001500160017001800Rent in $9191828

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

SCHOOLS

NAME EDUCATIONAL LEVEL SCHOOL TYPE # OF STUDENTS # OF TEACHERS GREATSCHOOLS RATING
Greenfield Elementary School Primary Regular 754 38 8
Ed Willkie Middle School Middle Regular 862 53 5

Greenfield Elementary School

  • Education Level: Primary
  • # of students: 754
  • # of teachers: 38
8
GreatSchools Rating

Ed Willkie Middle School

  • Education Level: Middle
  • # of students: 862
  • # of teachers: 53
5
GreatSchools Rating
 

$233,910$285,890$259,900

PURCHASE PRICE

$1,494$1,826$1,660

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,660
EXPENSES Loan Payment -$959
Property Tax -$596
Property Insurance -$132
HOA -$30
Property Management Fees -$99
CASH FLOW
-$155

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 14% of earned rent to cover both maintenance and periods of vacancy.

$259,900

PROJECTED PRICE

$1,660

PROJECTED RENT

0.64%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 5.6%
Maintenance Year (1-5) 8.00%
Vacancy 6.39%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k$700k

PROJECTED ANNUAL CASH FLOW

11530-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$74,624

INVESTMENT

$74,624

Down Payment
$64,975
Rehab Estimate
$5,750
Closing Costs
$3,899

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$959

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $64,975
Loan Amount $194,925
See What Happens When You Reinvest Cash Flow

1.67

YEARS SAVED

$3,376

INTEREST SAVED

CASH FLOW REINVESTMENT

The time & interest saved by applying each month's positive cash flow towards loan principal pay down.

  • $1,660

    LIST RENT
  • $0.92

    LIST RENT PER SQFT
  • $1,653

    COMP ESTIMATED VALUE
  • $0.92

    COMP AVG. RENT PER SQFT
Comps Range
$1,650
1$1,6502$1,6503$1,6604$1,6955$1,695
$1,695
RENT COMPS ANALYSIS
  • 6064 Paddlefish Drive Fort Worth, TX 3
    • 3 beds 2 baths ∙ 1,807 Sqft ∙ Built 2014 3 beds 2 baths ∙ 1,807 Sqft ∙ Built 2014
    • Rent
    • Rent Per SQFT
    •  
    • $1,660
    • $0.92
    •  
  • 5821 Water Ridge Court Fort Worth, TX 1
    • 3 beds 2 baths ∙ 1,824 Sqft ∙ Built 2009 3 beds 2 baths ∙ 1,824 Sqft ∙ Built 2009
    LEASED 02/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.90
    •  
  • 6144 Amberjack Trail Fort Worth, TX 2
    • 3 beds 2 baths ∙ 1,864 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,864 Sqft ∙ Built 2005
    LEASED 08/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.89
    •  
  • 5832 Barrier Reef Drive Fort Worth, TX 4
    • 3 beds 2 baths ∙ 1,895 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,895 Sqft ∙ Built 2005
    LEASED 11/22/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.89
    •  
  • 5617 Spirit Lake Drive Fort Worth, TX 5
    • 3 beds 2 baths ∙ 1,732 Sqft ∙ Built 2013 3 beds 2 baths ∙ 1,732 Sqft ∙ Built 2013
    LEASED 03/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.98
    •  
PROPERTY LISTING DETAILS
Vikki York
Keller Williams Realty Ftworth
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14455846
Last Updated: 10/24/2020
BESbswy