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6113 Spokane Drive Fort Worth, TX 76179

4 Beds 2 Baths 1,819 sqft Built 2018

$240,000

List Price

$1,770

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

November 07, 2020 RECENTLY ADDED
FACTS
  • Built In 2018
  • Price/Sqft : $131.94
  • 2 Days on Market
  • MLS # : 14466203
  • Updated Date : 11/06/2020 at 23:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,819 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Realty Dpr

Listing Agent's Description

Beautiful one story home with 4 beds and 2 baths PLUS a Study! Home is like new in a desirable location close to schools! Open concept & split bedrooms. Kitchen features granite counters, breakfast bar, gas coooktop, tile backspash and SS appliances. Spacious master suite with double sink vanity and walk-in closet. Backyard with open patio, wood privacy fence, plenty of grass area to play and sprinkler system. Community pool, park and pond. Tons of amenities nearby and within a few minutes of Eagle Mountain lake. Come see this one today!

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

Zip Code: 76179

ZipNIR Market*CityMarket2010Year20002019110k120k130k140k150k160k170k180k190k200k210k220k230k240kPrice in $104k243k

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

Zip Code: 76179

ZipNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700Rent in $9191734

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

SCHOOLS

 
Sorry, we do not have sufficient school data for this neighborhood.
 

$216,000$264,000$240,000

PURCHASE PRICE

$1,593$1,947$1,770

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,770
EXPENSES Loan Payment -$886
Property Tax -$552
Property Insurance -$132
HOA -$33
Property Management Fees -$99
CASH FLOW
$68

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.

$240,000

PROJECTED PRICE

$1,770

PROJECTED RENT

0.74%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 7.5%
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$800k

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k

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$69,350

INVESTMENT

$69,350

Down Payment
$60,000
Rehab Estimate
$5,750
Closing Costs
$3,600

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$886

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $60,000
Loan Amount $180,000
See What Happens When You Reinvest Cash Flow

5.67

YEARS SAVED

$18,120

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,770

    LIST RENT
  • $0.97

    LIST RENT PER SQFT
  • $1,760

    COMP ESTIMATED VALUE
  • $0.97

    COMP AVG. RENT PER SQFT
Comps Range
$1,695
1$1,6952$1,7003$1,7454$1,7705$1,800
$1,800
RENT COMPS ANALYSIS
  • 6113 Spokane Drive Fort Worth, TX 4
    • 4 beds 2 baths ∙ 1,819 Sqft ∙ Built 2018 4 beds 2 baths ∙ 1,819 Sqft ∙ Built 2018
    • Rent
    • Rent Per SQFT
    •  
    • $1,770
    • $0.97
    •  
  • 6265 Spokane Drive Fort Worth, TX 1
    • 4 beds 2 baths ∙ 1,819 Sqft ∙ Built 2018 4 beds 2 baths ∙ 1,819 Sqft ∙ Built 2018
    LEASED 11/11/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.93
    •  
  • 6309 Sails Street Fort Worth, TX 2
    • 4 beds 2 baths ∙ 1,771 Sqft ∙ Built 2017 4 beds 2 baths ∙ 1,771 Sqft ∙ Built 2017
    LEASED 06/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.96
    •  
  • 6920 Freeboard Way Fort Worth, TX 3
    • 4 beds 2 baths ∙ 1,772 Sqft ∙ Built 2018 4 beds 2 baths ∙ 1,772 Sqft ∙ Built 2018
    LEASED 08/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,745
    • $0.98
    •  
  • 6913 Cruiser Lane Fort Worth, TX 5
    • 4 beds 2 baths ∙ 1,800 Sqft ∙ Built 2019 4 beds 2 baths ∙ 1,800 Sqft ∙ Built 2019
    LEASED 10/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $1.00
    •  
PROPERTY LISTING DETAILS
Bryan Fitzpatrick
Keller Williams Realty Dpr
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14466203
Last Updated: 11/06/2020
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