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6144 General Store Way Fort Worth, TX 76179

5 Beds 2 Baths 2,133 sqft Built 2020

$264,000

List Price

$1,840

$1.7K - $2K

Rent Est.

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
November 14, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2020
  • Price/Sqft : $123.77
  • 2 Days on Market
  • MLS # : 14470856
  • Updated Date : 11/14/2020 at 01:00
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,133 sqft
  • Baths : 2 full
Listing Agent

Century 21 Mike Bowman, Inc.

Listing Agent's Description

SELLING NOW!!~EXCITING COMMUNITY OF PIONEER POINT IN NORTH FORT WORTH & EAGLE MOUNTAIN SAGINAW ISD!~BUILT BY D.R. HORTON - AMERICAS BUILDER!~Large 1 Story 5-2-2 Jackson Floorplan-(Elev C) Est completion November*Spacious open concept Living-Dining-Kitchen Floorplan with 5 Bedrooms*Large Kitchen with Granite counter tops,Seating Island,Gas Range & walk-in Pantry*Split Bedroom arrangement Primary Bedroom with dual sink vanity & huge walk-in Closet*Tiled Entry, Hallway & wet areas*6 ft priv fenced Backyard,Sprinkler System,Landscape Package & more!*Community Pool & Playground*Minutes to DFW Airport,Eagle Mountain Lake,& Sundance Square Downtown Ft Worth

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: 76179

ZipNIR Market*CityMarket2010Year20002019110k120k130k140k150k160k170k180k190k200k210k220k230k240kPrice in $104k243k

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

Zip Code: 76179

ZipNIR 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
Lake Pointe Elementary School Primary Regular 664 35 8
Wayside Middle School Middle Regular 943 52 6
Boswell High School High Regular 1,605 106 7

Lake Pointe Elementary School

  • Education Level: Primary
  • # of students: 664
  • # of teachers: 35
8
GreatSchools Rating

Wayside Middle School

  • Education Level: Middle
  • # of students: 943
  • # of teachers: 52
6
GreatSchools Rating

Boswell High School

  • Education Level: High
  • # of students: 1,605
  • # of teachers: 106
7
GreatSchools Rating
 

$237,600$290,400$264,000

PURCHASE PRICE

$1,656$2,024$1,840

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,840
EXPENSES Loan Payment -$974
Property Tax -$642
Property Insurance -$150
HOA -$33
Property Management Fees -$99
CASH FLOW
-$59

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.

$264,000

PROJECTED PRICE

$1,840

PROJECTED RENT

0.70%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 7.5%
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$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

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$71,960

INVESTMENT

$71,960

Down Payment
$66,000
Rehab Estimate
$2,000
Closing Costs
$3,960

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$974

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $66,000
Loan Amount $198,000
See What Happens When You Reinvest Cash Flow

3.25

YEARS SAVED

$8,631

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,840

    LIST RENT
  • $0.86

    LIST RENT PER SQFT
  • $1,786

    COMP ESTIMATED VALUE
  • $0.84

    COMP AVG. RENT PER SQFT
Comps Range
$1,675
1$1,6752$1,6953$1,6954$1,7505$1,840
$1,840
RENT COMPS ANALYSIS
  • 6144 General Store Way Fort Worth, TX 5
    • 5 beds 2 baths ∙ 2,133 Sqft ∙ Built 2020 5 beds 2 baths ∙ 2,133 Sqft ∙ Built 2020
    • Rent
    • Rent Per SQFT
    •  
    • $1,840
    • $0.86
    •  
  • 8857 Noontide Drive Fort Worth, TX 1
    • 4 beds 2 baths ∙ 2,020 Sqft ∙ Built 2007 4 beds 2 baths ∙ 2,020 Sqft ∙ Built 2007
    LEASED 07/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,675
    • $0.83
    •  
  • 7521 Innisbrook Lane Fort Worth, TX 2
    • 4 beds 2 baths ∙ 1,981 Sqft ∙ Built 2015 4 beds 2 baths ∙ 1,981 Sqft ∙ Built 2015
    LEASED 12/23/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.86
    •  
  • 9008 Adler Trail Fort Worth, TX 3
    • 4 beds 2 baths ∙ 2,105 Sqft ∙ Built 2009 4 beds 2 baths ∙ 2,105 Sqft ∙ Built 2009
    LEASED 11/23/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.81
    •  
  • 5848 Mount Plymouth Point Fort Worth, TX 4
    • 4 beds 2 baths ∙ 2,064 Sqft ∙ Built 2008 4 beds 2 baths ∙ 2,064 Sqft ∙ Built 2008
    LEASED 10/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.85
    •  
PROPERTY LISTING DETAILS
Carol Holloway Stoneham
Century 21 Mike Bowman, Inc.
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14470856
Last Updated: 11/14/2020
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