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6204 Lamb Creek Drive Fort Worth, TX 76179

5 Beds 4 Baths 3,957 sqft Built 2011

$410,000

List Price

$2,670

$2.4K - $2.9K

Rent Est.

PROPERTY INFO

November 20, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2011
  • Price/Sqft : $103.61
  • 3 Days on Market
  • MLS # : 14474621
  • Updated Date : 11/20/2020 at 11:03
CONSTRUCTION
  • Beds : 5
  • Floor Size : 3,957 sqft
  • Baths : 3 full , 1 half
Listing Agent

The Property Shop

Listing Agent's Description

Beautiful 5 bedroom 3.5 Bath plantation home in Marine Creek Ranch! This home features a large media room as well as a game room or loft. New laminate floors installed last week. Tons of storage and every room has a walk in closet. Smart home controls outside lighting, door locks and sprinkler system and can be controlled by Alexa or Google Home. Kitchen is open to a large living room with a gas fireplace. Gas water heater, range, stove, heating and air conditioner. Tall cabinets throughout kitchen and water faucet at the range for filling pots. Walk in pantry and walk through butlers pantry. Covered patio as well as a large pergola in backyard. Natural Gas line drop in backyard for a grill.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

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
 

$369,000$451,000$410,000

PURCHASE PRICE

$2,403$2,937$2,670

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,670
EXPENSES Loan Payment -$1,513
Property Tax -$940
Property Insurance -$256
HOA -$30
Property Management Fees -$99
CASH FLOW
-$167

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.

$410,000

PROJECTED PRICE

$2,670

PROJECTED RENT

0.65%

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$1.2M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$114,400

INVESTMENT

$114,400

Down Payment
$102,500
Rehab Estimate
$5,750
Closing Costs
$6,150

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,513

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $102,500
Loan Amount $307,500
See What Happens When You Reinvest Cash Flow

2.33

YEARS SAVED

$8,663

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,670

    LIST RENT
  • $0.67

    LIST RENT PER SQFT
  • $2,196

    COMP ESTIMATED VALUE
  • $0.55

    COMP AVG. RENT PER SQFT
Comps Range
$1,850
1$1,8502$2,3953$2,670
$2,670
RENT COMPS ANALYSIS
  • 6204 Lamb Creek Drive Fort Worth, TX 3
    • 5 beds 4 baths ∙ 3,957 Sqft ∙ Built 2011 5 beds 4 baths ∙ 3,957 Sqft ∙ Built 2011
    • Rent
    • Rent Per SQFT
    •  
    • $2,670
    • $0.67
    •  
  • 5129 Weather Rock Lane Fort Worth, TX 1
    • 5 beds 4 baths ∙ 3,759 Sqft ∙ Built 2004 5 beds 4 baths ∙ 3,759 Sqft ∙ Built 2004
    LEASED 08/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.49
    •  
  • 6204 El Capitan Street Fort Worth, TX 2
    • 5 beds 4 baths ∙ 3,873 Sqft ∙ Built 2013 5 beds 4 baths ∙ 3,873 Sqft ∙ Built 2013
    LEASED 08/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,395
    • $0.62
    •  
PROPERTY LISTING DETAILS
Melanie Marron
The Property Shop
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14474621
Last Updated: 11/20/2020
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