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614 Sage Brush Drive Weatherford, TX 76087

3 Beds 2 Baths 1,963 sqft Built 2004

$240,000

List Price

$1,800

$1.6K - $2K

Rent Est.

PROPERTY INFO

December 18, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2004
  • Price/Sqft : $122.26
  • 3 Days on Market
  • MLS # : 14486460
  • Updated Date : 12/18/2020 at 15:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,963 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Arlington

Listing Agent's Description

Single story in Siverstone Pearson Ranch. Formal dining room and separate study or den. Kitchen and breakfast room are open to living area. Eat in kitchen has island. Split bedroom floor plan. Spacious master bedroom has sitting area. Backyard includes storage building, covered patio and has plenty of space.

SEE MORE

MARKET HIGHLIGHTS

  • # 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)
  • . Dallas has 7th largest concentration of high-tech jobs in the U.S. (Dallas Chamber)

PRICE & RENT TRENDS

Zip Code: 76087

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340kPrice in $104k342k

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

Zip Code: 76087

ZipNIR Market*CityMarket2010Year20002019 Q21200130014001500160017001800190020002100Rent in $11212171

* 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
Mary Martin Elementary School Primary Regular 590 34 5
Mary Martin Elementary School Middle Regular 590 34 5
Weatherford High School High Regular 2,238 148 6

Mary Martin Elementary School

  • Education Level: Primary
  • # of students: 590
  • # of teachers: 34
5
GreatSchools Rating

Mary Martin Elementary School

  • Education Level: Middle
  • # of students: 590
  • # of teachers: 34
5
GreatSchools Rating

Weatherford High School

  • Education Level: High
  • # of students: 2,238
  • # of teachers: 148
6
GreatSchools Rating
 

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

PURCHASE PRICE

$1,620$1,980$1,800

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,800
EXPENSES Loan Payment -$886
Property Tax -$511
Property Insurance -$141
HOA -$37
Property Management Fees -$99
CASH FLOW
$128

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 15% of earned rent to cover both maintenance and periods of vacancy.

$240,000

PROJECTED PRICE

$1,800

PROJECTED RENT

0.75%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 6.0%
Maintenance Year (1-5) 8.00%
Vacancy 6.93%
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$12k

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 50% 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

7.17

YEARS SAVED

$24,466

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,800

    LIST RENT
  • $0.92

    LIST RENT PER SQFT
  • $1,816

    COMP ESTIMATED VALUE
  • $0.92

    COMP AVG. RENT PER SQFT
Comps Range
$1,695
1$1,6952$1,8003$1,9254$2,0505$2,075
$2,075
RENT COMPS ANALYSIS
  • 614 Sage Brush Drive Weatherford, TX 2
    • 3 beds 2 baths ∙ 1,963 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,963 Sqft ∙ Built 2004
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.92
    •  
  • 102 Cynthia Lane Weatherford, TX 1
    • 4 beds 2 baths ∙ 1,763 Sqft ∙ Built 2002 4 beds 2 baths ∙ 1,763 Sqft ∙ Built 2002
    LEASED 08/19/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.96
    •  
  • 612 Sage Brush Drive Weatherford, TX 3
    • 3 beds 3 baths ∙ 2,201 Sqft ∙ Built 2005 3 beds 3 baths ∙ 2,201 Sqft ∙ Built 2005
    LEASED 08/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,925
    • $0.87
    •  
  • 2222 Old Foundry Road Weatherford, TX 4
    • 4 beds 2 baths ∙ 2,226 Sqft ∙ Built 2003 4 beds 2 baths ∙ 2,226 Sqft ∙ Built 2003
    LEASED 09/26/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,050
    • $0.92
    •  
  • 1649 Signature Drive Weatherford, TX 5
    • 3 beds 2 baths ∙ 2,176 Sqft ∙ Built 2018 3 beds 2 baths ∙ 2,176 Sqft ∙ Built 2018
    LEASED 12/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,075
    • $0.95
    •  
PROPERTY LISTING DETAILS
Shannon Mulroy
Keller Williams Arlington
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14486460
Last Updated: 12/18/2020
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