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617 Saddleway Drive Fort Worth, TX 76179

5 Beds 4 Baths 2,930 sqft Built 2011

$275,000

List Price

$1,860

$1.7K - $2K

Rent Est.

PROPERTY INFO

January 16, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2011
  • Price/Sqft : $93.86
  • 2 Days on Market
  • MLS # : 14498430
  • Updated Date : 01/16/2021 at 13:00
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,930 sqft
  • Baths : 3 full , 1 half
Listing Agent

Keller Williams Realty

Listing Agent's Description

Welcome home! Come home to this well loved home that features owners suite on the first level, kitchen that has granite countertops, gas drop in range. Cozy up by the wood burning fireplace this winter while enjoying watching tv or reading your favorite book. Upstairs has 4 bedrooms and two baths. Home was recently painted on the inside and new carpet was put in this month.

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: Remington Point

NeighborhoodNIR Market*CityMarket2010Year20002019110k120k130k140k150k160k170k180k190k200k210k220k230k240kPrice in $104k243k

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

Neighborhood: Remington Point

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
Remington Point Elementary School Primary Regular 637 37 5
Ed Willkie Middle School Middle Regular 862 53 5

Remington Point Elementary School

  • Education Level: Primary
  • # of students: 637
  • # of teachers: 37
5
GreatSchools Rating

Ed Willkie Middle School

  • Education Level: Middle
  • # of students: 862
  • # of teachers: 53
5
GreatSchools Rating
 

$247,500$302,500$275,000

PURCHASE PRICE

$1,674$2,046$1,860

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,860
EXPENSES Loan Payment -$955
Property Tax -$630
Property Insurance -$197
HOA -$28
Property Management Fees -$99
CASH FLOW
-$49

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.

$275,000

PROJECTED PRICE

$1,860

PROJECTED RENT

0.68%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 9.2%
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

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$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$200k$400k$600k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$78,625

INVESTMENT

$78,625

Down Payment
$68,750
Rehab Estimate
$5,750
Closing Costs
$4,125

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$955

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $68,750
Loan Amount $206,250
See What Happens When You Reinvest Cash Flow

3.25

YEARS SAVED

$7,582

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,860

    LIST RENT
  • $0.63

    LIST RENT PER SQFT
  • $1,963

    COMP ESTIMATED VALUE
  • $0.67

    COMP AVG. RENT PER SQFT
Comps Range
$1,795
1$1,7952$1,7953$1,8604$1,8955$2,045
$2,045
RENT COMPS ANALYSIS
  • 617 Saddleway Drive Fort Worth, TX 3
    • 5 beds 4 baths ∙ 2,930 Sqft ∙ Built 2011 5 beds 4 baths ∙ 2,930 Sqft ∙ Built 2011
    • Rent
    • Rent Per SQFT
    •  
    • $1,860
    • $0.63
    •  
  • 1101 Hillwood Drive Saginaw, TX 1
    • 4 beds 3 baths ∙ 2,784 Sqft ∙ Built 1998 4 beds 3 baths ∙ 2,784 Sqft ∙ Built 1998
    LEASED 01/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.64
    •  
  • 1069 Grand National Boulevard Fort Worth, TX 2
    • 4 beds 3 baths ∙ 2,839 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,839 Sqft ∙ Built 2005
    LEASED 10/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.63
    •  
  • 1092 Appaloosa Circle Fort Worth, TX 4
    • 4 beds 3 baths ∙ 2,756 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,756 Sqft ∙ Built 2004
    LEASED 11/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.69
    •  
  • 5824 Downs Drive Fort Worth, TX 5
    • 4 beds 3 baths ∙ 2,831 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,831 Sqft ∙ Built 2005
    LEASED 03/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,045
    • $0.72
    •  
PROPERTY LISTING DETAILS
Ginger Brannan
Keller Williams Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14498430
Last Updated: 01/16/2021
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