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6121 Gibbons Creek Street Fort Worth, TX 76179

5 Beds 4 Baths 4,193 sqft Built 2015

$425,000

List Price

$2,220

$2K - $2.4K

Rent Est.

PROPERTY INFO

October 30, 2020 RECENTLY ADDED
FACTS
  • Built In 2015
  • Price/Sqft : $101.36
  • 6 Days on Market
  • MLS # : 14461725
  • Updated Date : 10/30/2020 at 11:14
CONSTRUCTION
  • Beds : 5
  • Floor Size : 4,193 sqft
  • Baths : 4 full
Listing Agent

The Property Shop

Listing Agent's Description

Wonderful First Texas Home that has upgrades galore! This home has been beautifully maintained and has a little something for everyone to love. The home features immaculate hand scraped hardwood flooring, a large open kitchen with gas everything, and a huge welcoming fireplace great for entertaining a number of guests. Two tankless gas hot water heaters allow hot water instantly and the media room has been upgraded to the max. The master bedroom and a guest bedroom are located on the first floor and the other four, yes four, are upstairs. With three living areas you will not find yourself short of any extra room you may need for guests. This home is absolutely gorgeous! Come make it yours!

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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
Parkview Elementary School Primary Regular 695 40 6
Ed Willkie Middle School Middle Regular 862 53 5

Parkview Elementary School

  • Education Level: Primary
  • # of students: 695
  • # of teachers: 40
6
GreatSchools Rating

Ed Willkie Middle School

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

$382,500$467,500$425,000

PURCHASE PRICE

$1,998$2,442$2,220

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,220
EXPENSES Loan Payment -$1,568
Property Tax -$974
Property Insurance -$269
HOA -$30
Property Management Fees -$99
CASH FLOW
-$721

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.

$425,000

PROJECTED PRICE

$2,220

PROJECTED RENT

0.52%

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$200k$400k$600k$800k$1.0M$1.2M

PROJECTED ANNUAL CASH FLOW

11530-$14k-$12k-$10k-$8.0k-$6.0k-$4.0k-$2.0k$0.0

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$118,375

INVESTMENT

$118,375

Down Payment
$106,250
Rehab Estimate
$5,750
Closing Costs
$6,375

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 100% down payment or higher enables the proceeds from the asset to cover all costs.

$1,568

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $106,250
Loan Amount $318,750
See What Happens When You Reinvest Cash Flow

-0.08

YEARS SAVED

-$11

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,220

    LIST RENT
  • $0.53

    LIST RENT PER SQFT
  • $2,600

    COMP ESTIMATED VALUE
  • $0.62

    COMP AVG. RENT PER SQFT
Comps Range
$2,220
1$2,2202$2,395
$2,395
RENT COMPS ANALYSIS
  • 6121 Gibbons Creek Street Fort Worth, TX 1
    • 6 beds 4 baths ∙ 4,193 Sqft ∙ Built 2015 6 beds 4 baths ∙ 4,193 Sqft ∙ Built 2015
    • Rent
    • Rent Per SQFT
    •  
    • $2,220
    • $0.53
    •  
  • 6204 El Capitan Street Fort Worth, TX 2
    • 5 beds 4 baths ∙ 3,873 Sqft ∙ Built 2013 5 beds 4 baths ∙ 3,873 Sqft ∙ Built 2013
    LEASED 08/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,395
    • $0.62
    •  
PROPERTY LISTING DETAILS
Lane Stults
The Property Shop
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14461725
Last Updated: 10/30/2020
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