Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

6308 Armadillo Court Fort Worth, TX 76179

3 Beds 2 Baths 1,659 sqft Built 2020

$273,216

List Price

$1,600

$1.4K - $1.8K

Rent Est.

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
November 05, 2020 RECENTLY ADDED
FACTS
  • Built In 2020
  • Price/Sqft : $164.69
  • 4 Days on Market
  • MLS # : 14466681
  • Updated Date : 11/05/2020 at 22:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,659 sqft
  • Baths : 2 full
Listing Agent

Meritage Homes Realty

Listing Agent's Description

Brand NEW energy-efficient home ready March 2021! Fix dinner at the Greenville’s sprawling kitchen island without missing any of the action in the great room. White cabinets with pearl silver granite countertops, cool grey EVP flooring and multi-tone tweed carpet in our Sleek package. Located just off of I-820 in Fort Worth, Western Ridge is minutes from the downtown corridor. Explore the nearby Eagle Mountain Lake or the Nature Center and Refuge. Schools in the sought-after Eagle Mt.-Saginaw ISD. Known for their energy-efficient features, our homes help you live a healthier and quieter lifestyle while saving thousands of dollars on utility bills.

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: Lake Crest Estates

NeighborhoodNIR Market*CityMarket2010Year20002019100k110k120k130k140k150k160k170k180k190k200k210k220k230k240kPrice in $97k243k

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

Neighborhood: Lake Crest Estates

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
Creekview Middle School Middle Regular 801 47 7

Creekview Middle School

  • Education Level: Middle
  • # of students: 801
  • # of teachers: 47
7
GreatSchools Rating
 

$245,894$300,538$273,216

PURCHASE PRICE

$1,440$1,760$1,600

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,600
EXPENSES Loan Payment -$1,008
Property Tax -$665
Property Insurance -$123
HOA -$33
Property Management Fees -$99
CASH FLOW
-$328

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.

$273,216

PROJECTED PRICE

$1,600

PROJECTED RENT

0.59%

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-$6.0k-$4.0k-$2.0k$0.0$2.0k

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$74,402

INVESTMENT

$74,402

Down Payment
$68,304
Rehab Estimate
$2,000
Closing Costs
$4,098

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,008

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $68,304
Loan Amount $204,912
See What Happens When You Reinvest Cash Flow

0.25

YEARS SAVED

$164

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,600

    LIST RENT
  • $0.96

    LIST RENT PER SQFT
  • $1,613

    COMP ESTIMATED VALUE
  • $0.97

    COMP AVG. RENT PER SQFT
Comps Range
$1,450
1$1,4502$1,6003$1,6004$1,6955$1,725
$1,725
RENT COMPS ANALYSIS
  • 6308 Armadillo Court Fort Worth, TX 3
    • 3 beds 2 baths ∙ 1,659 Sqft ∙ Built 2020 3 beds 2 baths ∙ 1,659 Sqft ∙ Built 2020
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.96
    •  
  • 6709 Coolwater Trail Fort Worth, TX 1
    • 3 beds 2 baths ∙ 1,476 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,476 Sqft ∙ Built 2005
    LEASED 03/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.98
    •  
  • 6132 Nathan Creek Drive Fort Worth, TX 2
    • 4 beds 2 baths ∙ 1,658 Sqft ∙ Built 2016 4 beds 2 baths ∙ 1,658 Sqft ∙ Built 2016
    LEASED 04/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.97
    •  
  • 6216 Chalk Hollow Drive Fort Worth, TX 4
    • 3 beds 2 baths ∙ 1,791 Sqft ∙ Built 2009 3 beds 2 baths ∙ 1,791 Sqft ∙ Built 2009
    LEASED 09/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.95
    •  
  • 6244 Granite Creek Drive Fort Worth, TX 5
    • 3 beds 2 baths ∙ 1,751 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,751 Sqft ∙ Built 2006
    LEASED 09/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,725
    • $0.99
    •  
PROPERTY LISTING DETAILS
Patrick Mcgrath
Meritage Homes Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14466681
Last Updated: 11/05/2020
BESbswy