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6121 Iron Creek Road Fort Worth, TX 76137

4 Beds 3 Baths 2,952 sqft Built 2020

$396,505

List Price

$2,050

$1.8K - $2.3K

Rent Est.

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
January 28, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2020
  • Price/Sqft : $134.32
  • 4 Days on Market
  • MLS # : 14507943
  • Updated Date : 01/28/2021 at 11:24
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,952 sqft
  • Baths : 3 full
Listing Agent

Toby Jones

Listing Agent's Description

NEW CONSTRUCTION - Enclave at Fossil Creek in Fort Worth. Two-story Mooreville plan with brick exterior - Elevation A. Available for February 2021 move-in. 4BR, 3BA + Gameroom, Study + Covered Patio - 2952 sq.ft. Open concept layout with stainless steel appliances, granite countertops, 42inch upper cabinetry.

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: 76137

ZipNIR Market*CityMarket2010Year20002019110k120k130k140k150k160k170k180k190k200k210k220k230k240kPrice in $104k243k

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

Zip Code: 76137

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.
 

$356,855$436,156$396,505

PURCHASE PRICE

$1,845$2,255$2,050

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,050
EXPENSES Loan Payment -$1,377
Property Tax -$909
Property Insurance -$198
HOA -$67
Property Management Fees -$99
CASH FLOW
-$600

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 9% of earned rent to cover both maintenance and periods of vacancy.

$396,505

PROJECTED PRICE

$2,050

PROJECTED RENT

0.52%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 9.6%
Maintenance Year (1-5) 3.00%
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-$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$107,074

INVESTMENT

$107,074

Down Payment
$99,126
Rehab Estimate
$2,000
Closing Costs
$5,948

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 80% down payment or higher enables the proceeds from the asset to cover all costs.

$1,377

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $99,126
Loan Amount $297,379
See What Happens When You Reinvest Cash Flow

-0.08

YEARS SAVED

-$2

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,050

    LIST RENT
  • $0.69

    LIST RENT PER SQFT
  • $2,044

    COMP ESTIMATED VALUE
  • $0.69

    COMP AVG. RENT PER SQFT
Comps Range
$1,895
1$1,8952$1,9503$2,0504$2,1505$2,450
$2,450
RENT COMPS ANALYSIS
  • 6121 Iron Creek Road Fort Worth, TX 3
    • 4 beds 3 baths ∙ 2,952 Sqft ∙ Built 2020 4 beds 3 baths ∙ 2,952 Sqft ∙ Built 2020
    • Rent
    • Rent Per SQFT
    •  
    • $2,050
    • $0.69
    •  
  • 2717 Gray Rock Drive Fort Worth, TX 1
    • 4 beds 3 baths ∙ 2,991 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,991 Sqft ∙ Built 2003
    LEASED 03/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.63
    •  
  • 2709 Calico Rock Drive Fort Worth, TX 2
    • 4 beds 3 baths ∙ 2,854 Sqft ∙ Built 2000 4 beds 3 baths ∙ 2,854 Sqft ∙ Built 2000
    LEASED 05/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.68
    •  
  • 3836 Weatherstone Drive Fort Worth, TX 4
    • 4 beds 4 baths ∙ 3,268 Sqft ∙ Built 2006 4 beds 4 baths ∙ 3,268 Sqft ∙ Built 2006
    LEASED 10/28/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $0.66
    •  
  • 2813 Fossil Run Boulevard Fort Worth, TX 5
    • 4 beds 3 baths ∙ 3,072 Sqft ∙ Built 2004 4 beds 3 baths ∙ 3,072 Sqft ∙ Built 2004
    LEASED 06/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $0.80
    •  
PROPERTY LISTING DETAILS
Lee Jones
Toby Jones
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14507943
Last Updated: 01/28/2021
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