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6224 Bowin Drive Fort Worth, TX 76132

4 Beds 3 Baths 2,907 sqft Built 1998

$329,000

List Price

$1,970

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

February 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1998
  • Price/Sqft : $113.18
  • 2 Days on Market
  • MLS # : 14515804
  • Updated Date : 02/13/2021 at 05:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,907 sqft
  • Baths : 2 full , 1 half
Listing Agent

Competitive Edge Realty Llc

Listing Agent's Description

Ready to move in, well maintained 4 bedroom, 2.5 bath home located on a corner lot with landscaping. Private master with large bath and walk-in closet. Game room and 3 bedrooms up, one with a full bath. Large backyard. Large sunroom on back patio is perfect for enjoying the outdoors. Kitchen has breakfast bar and island and is open to family room. Large kitchen with an island and offering a great sunroom and many more upgrades.

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: Oakmont Meadows

NeighborhoodNIR Market*CityMarket2010Year20002019110k120k130k140k150k160k170k180k190k200k210k220k230k240kPrice in $104k243k

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

Neighborhood: Oakmont Meadows

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700Rent in $9191768

* 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
Oakmont Elementary School Primary Regular 561 39 5
Summer Creek Middle School Middle Regular 779 52 4
North Crowley High School High Regular 2,442 148 4

Oakmont Elementary School

  • Education Level: Primary
  • # of students: 561
  • # of teachers: 39
5
GreatSchools Rating

Summer Creek Middle School

  • Education Level: Middle
  • # of students: 779
  • # of teachers: 52
4
GreatSchools Rating

North Crowley High School

  • Education Level: High
  • # of students: 2,442
  • # of teachers: 148
4
GreatSchools Rating
 

$296,100$361,900$329,000

PURCHASE PRICE

$1,773$2,167$1,970

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,970
EXPENSES Loan Payment -$1,143
Property Tax -$754
Property Insurance -$195
Property Management Fees -$99
CASH FLOW
-$221

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.

$329,000

PROJECTED PRICE

$1,970

PROJECTED RENT

0.60%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 6.3%
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

PROJECTED ANNUAL CASH FLOW

11530-$6.0k-$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$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$92,935

INVESTMENT

$92,935

Down Payment
$82,250
Rehab Estimate
$5,750
Closing Costs
$4,935

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$1,143

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $82,250
Loan Amount $246,750
See What Happens When You Reinvest Cash Flow

1.33

YEARS SAVED

$2,173

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,970

    LIST RENT
  • $0.68

    LIST RENT PER SQFT
  • $1,977

    COMP ESTIMATED VALUE
  • $0.68

    COMP AVG. RENT PER SQFT
Comps Range
$1,845
1$1,8452$1,8753$1,9004$1,9455$1,970
$1,970
RENT COMPS ANALYSIS
  • 6224 Bowin Drive Fort Worth, TX 5
    • 4 beds 3 baths ∙ 2,907 Sqft ∙ Built 1998 4 beds 3 baths ∙ 2,907 Sqft ∙ Built 1998
    • Rent
    • Rent Per SQFT
    •  
    • $1,970
    • $0.68
    •  
  • 6705 Windwood Trail Fort Worth, TX 1
    • 4 beds 3 baths ∙ 2,960 Sqft ∙ Built 2000 4 beds 3 baths ∙ 2,960 Sqft ∙ Built 2000
    LEASED 07/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,845
    • $0.62
    •  
  • 6913 Mccracken Court Fort Worth, TX 2
    • 5 beds 3 baths ∙ 2,614 Sqft ∙ Built 2001 5 beds 3 baths ∙ 2,614 Sqft ∙ Built 2001
    LEASED 12/04/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,875
    • $0.72
    •  
  • 5220 Meadowland Drive Fort Worth, TX 3
    • 4 beds 2 baths ∙ 2,647 Sqft ∙ Built 2002 4 beds 2 baths ∙ 2,647 Sqft ∙ Built 2002
    LEASED 01/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.72
    •  
  • 7301 Moon Ridge Court Fort Worth, TX 4
    • 4 beds 3 baths ∙ 2,938 Sqft ∙ Built 2001 4 beds 3 baths ∙ 2,938 Sqft ∙ Built 2001
    LEASED 05/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,945
    • $0.66
    •  
PROPERTY LISTING DETAILS
Nitin Gupta
Competitive Edge Realty Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14515804
Last Updated: 02/13/2021
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