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613 Cranbrook Drive Fort Worth, TX 76131

3 Beds 2 Baths 1,673 sqft Built 2004

$252,500

List Price

$1,570

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 25, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2004
  • Price/Sqft : $150.93
  • 4 Days on Market
  • MLS # : 14540037
  • Updated Date : 03/26/2021 at 17:55
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,673 sqft
  • Baths : 2 full
Listing Agent

Ebby Halliday, Realtors

Listing Agent's Description

This home will not last long. This meticulously maintained home offers a large open living room looking into the oversized kitchen. The kitchen has ample counter space, large island and more. The updated hard woods flow from the hall into all the bedrooms. Step onto the large patio equipped with power and a outdoor fan, over looking the great backyard. Come make this home your own!!! Due to the last storm, the roof is being evaluated by current insurance.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • . 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)

PRICE & RENT TRENDS

Neighborhood: Fossil Park Estates

NeighborhoodNIR Market*CityMarket2010Year20002019110k120k130k140k150k160k170k180k190k200k210k220k230k240kPrice in $104k243k

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

Neighborhood: Fossil Park Estates

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700Rent in $9191734

* 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
Sonny And Allegra Nance Elementary School Primary Regular 456 30 5
Chisholm Trail Middle School Middle Regular 899 64 7
Byron Nelson High School High Regular 2,552 147 8

Sonny And Allegra Nance Elementary School

  • Education Level: Primary
  • # of students: 456
  • # of teachers: 30
5
GreatSchools Rating

Chisholm Trail Middle School

  • Education Level: Middle
  • # of students: 899
  • # of teachers: 64
7
GreatSchools Rating

Byron Nelson High School

  • Education Level: High
  • # of students: 2,552
  • # of teachers: 147
8
GreatSchools Rating
 

$227,250$277,750$252,500

PURCHASE PRICE

$1,413$1,727$1,570

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,570
EXPENSES Loan Payment -$877
Property Tax -$579
Property Insurance -$124
HOA -$30
Property Management Fees -$99
CASH FLOW
-$139

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.

$252,500

PROJECTED PRICE

$1,570

PROJECTED RENT

0.62%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 8.6%
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$800k

PROJECTED ANNUAL CASH FLOW

11530-$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$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$72,663

INVESTMENT

$72,663

Down Payment
$63,125
Rehab Estimate
$5,750
Closing Costs
$3,788

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$877

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $63,125
Loan Amount $189,375
See What Happens When You Reinvest Cash Flow

1.67

YEARS SAVED

$2,670

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,570

    LIST RENT
  • $0.94

    LIST RENT PER SQFT
  • $1,627

    COMP ESTIMATED VALUE
  • $0.97

    COMP AVG. RENT PER SQFT
Comps Range
$1,500
1$1,5002$1,5703$1,6254$1,6955$1,700
$1,700
RENT COMPS ANALYSIS
  • 613 Cranbrook Drive Fort Worth, TX 2
    • 3 beds 3 baths ∙ 1,673 Sqft ∙ Built 2004 3 beds 3 baths ∙ 1,673 Sqft ∙ Built 2004
    • Rent
    • Rent Per SQFT
    •  
    • $1,570
    • $0.94
    •  
  • 10209 Pyrite Drive Fort Worth, TX 1
    • 3 beds 2 baths ∙ 1,521 Sqft ∙ Built 2014 3 beds 2 baths ∙ 1,521 Sqft ∙ Built 2014
    LEASED 07/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.99
    •  
  • 417 Magma Drive Fort Worth, TX 3
    • 3 beds 2 baths ∙ 1,625 Sqft ∙ Built 2014 3 beds 2 baths ∙ 1,625 Sqft ∙ Built 2014
    LEASED 09/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,625
    • $1.00
    •  
  • 10000 Pyrite Drive Fort Worth, TX 4
    • 3 beds 2 baths ∙ 1,804 Sqft ∙ Built 2016 3 beds 2 baths ∙ 1,804 Sqft ∙ Built 2016
    LEASED 07/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.94
    •  
  • 529 Foxcraft Drive Fort Worth, TX 5
    • 3 beds 2 baths ∙ 1,774 Sqft ∙ Built 2014 3 beds 2 baths ∙ 1,774 Sqft ∙ Built 2014
    LEASED 09/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.96
    •  
PROPERTY LISTING DETAILS
Brad Simpson
Ebby Halliday, Realtors
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14540037
Last Updated: 03/26/2021
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