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6125 Redear Drive Fort Worth, TX 76179

5 Beds 3 Baths 3,464 sqft Built 2006

$344,990

List Price

$2,490

$2.2K - $2.7K

Rent Est.

PROPERTY INFO

November 03, 2020 RECENTLY ADDED
FACTS
  • Built In 2006
  • Price/Sqft : $99.59
  • 1 Days on Market
  • MLS # : 14461932
  • Updated Date : 11/02/2020 at 18:18
CONSTRUCTION
  • Beds : 5
  • Floor Size : 3,464 sqft
  • Baths : 3 full
Listing Agent

Re/max Dallas Suburbs

Listing Agent's Description

Wow! Check out this Impressive David Weekly Home featuring 5 bedrms, 3 full baths, 3 living, 2 Dining and a 3car Tandem garage. Huge Oversized Lot with an Extended Covered backyard Patio. Plenty of room to build a pool. New Beautiful Wood Tile Flooring throughout the Main Areas. The Kitchen is sure to please with an Eat-In Breakfast Nook, Corian Countertops, a Gas Range, Island, walk-in Pantry and SS Appliances. 1st Floor Bedrm with Full Bath would be perfect for Guest or an Office. 5th Bedrm is Huge, Wired for Surround Sound and would make a great media rm. Fantastic Neighborhood with Access to the Lake with Dock! Community Pool, Walking Trails and all the extras! Saginaw ISD Hurry, this won't last long!!

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
 

$310,491$379,489$344,990

PURCHASE PRICE

$2,241$2,739$2,490

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,490
EXPENSES Loan Payment -$1,273
Property Tax -$791
Property Insurance -$227
HOA -$30
Property Management Fees -$99
CASH FLOW
$70

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.

$344,990

PROJECTED PRICE

$2,490

PROJECTED RENT

0.72%

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

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$97,172

INVESTMENT

$97,172

Down Payment
$86,248
Rehab Estimate
$5,750
Closing Costs
$5,175

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,273

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $86,248
Loan Amount $258,743
See What Happens When You Reinvest Cash Flow

5.33

YEARS SAVED

$23,126

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,490

    LIST RENT
  • $0.72

    LIST RENT PER SQFT
  • $2,286

    COMP ESTIMATED VALUE
  • $0.66

    COMP AVG. RENT PER SQFT
Comps Range
$2,045
1$2,0452$2,2003$2,490
$2,490
RENT COMPS ANALYSIS
  • 6125 Redear Drive Fort Worth, TX 3
    • 5 beds 3 baths ∙ 3,464 Sqft ∙ Built 2006 5 beds 3 baths ∙ 3,464 Sqft ∙ Built 2006
    • Rent
    • Rent Per SQFT
    •  
    • $2,490
    • $0.72
    •  
  • 6152 Redear Drive Fort Worth, TX 1
    • 4 beds 3 baths ∙ 3,216 Sqft ∙ Built 2005 4 beds 3 baths ∙ 3,216 Sqft ∙ Built 2005
    LEASED 02/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,045
    • $0.64
    •  
  • 5864 Lamb Creek Drive Fort Worth, TX 2
    • 4 beds 4 baths ∙ 3,241 Sqft ∙ Built 2009 4 beds 4 baths ∙ 3,241 Sqft ∙ Built 2009
    LEASED 08/22/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.68
    •  
PROPERTY LISTING DETAILS
Stacia Frase
Re/max Dallas Suburbs
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14461932
Last Updated: 11/02/2020
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