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6309 Spring Ranch Drive Fort Worth, TX 76179

3 Beds 2 Baths 1,765 sqft Built 2014

$240,000

List Price

$1,660

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 07, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2014
  • Price/Sqft : $135.98
  • 1 Days on Market
  • MLS # : 14528328
  • Updated Date : 03/06/2021 at 21:47
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,765 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Realty Ftworth

Listing Agent's Description

Beautiful 3 bedroom, 2 bath, 2 car carage in a nice HOA neighborhood. Enough room for everybody. Huge pantry. Wood looking laminate in main areas, carpet in all bedrooms. All electric. Still 3 years of Builder's Warranty. Custom made Shutters in living room will stay. Tesla Solar panels leasing have to be transferred to the new owner (120 dollars monthly payment, electric bill 40) Survey Available. Seller will need a lease back. Send your offers!!! Buyers and Buyer's agent to verify all information including schools and room sizes.

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: Stone Creek Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019110k120k130k140k150k160k170k180k190k200k210k220k230k240kPrice in $104k243k

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

Neighborhood: Stone Creek Ranch

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
Ed Willkie Middle School Middle Regular 862 53 5
Chisholm Trail High School High Unknown NA
Ed Willkie Middle School Middle Unknown NA

Ed Willkie Middle School

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

Chisholm Trail High School

  • Education Level: High
  • # of students:
  • # of teachers:
NA
GreatSchools Rating

Ed Willkie Middle School

  • Education Level: Middle
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$216,000$264,000$240,000

PURCHASE PRICE

$1,494$1,826$1,660

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,660
EXPENSES Loan Payment -$834
Property Tax -$550
Property Insurance -$129
HOA -$28
Property Management Fees -$99
CASH FLOW
$21

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.

$240,000

PROJECTED PRICE

$1,660

PROJECTED RENT

0.69%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 8.2%
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$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$69,350

INVESTMENT

$69,350

Down Payment
$60,000
Rehab Estimate
$5,750
Closing Costs
$3,600

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$834

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $60,000
Loan Amount $180,000
See What Happens When You Reinvest Cash Flow

4.58

YEARS SAVED

$11,205

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,660

    LIST RENT
  • $0.94

    LIST RENT PER SQFT
  • $1,664

    COMP ESTIMATED VALUE
  • $0.94

    COMP AVG. RENT PER SQFT
Comps Range
$1,600
1$1,6002$1,6503$1,6604$1,7255$1,750
$1,750
RENT COMPS ANALYSIS
  • 6309 Spring Ranch Drive Fort Worth, TX 3
    • 3 beds 2 baths ∙ 1,765 Sqft ∙ Built 2014 3 beds 2 baths ∙ 1,765 Sqft ∙ Built 2014
    • Rent
    • Rent Per SQFT
    •  
    • $1,660
    • $0.94
    •  
  • 6237 Chalk Hollow Drive Fort Worth, TX 1
    • 3 beds 2 baths ∙ 1,751 Sqft ∙ Built 2008 3 beds 2 baths ∙ 1,751 Sqft ∙ Built 2008
    LEASED 10/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.91
    •  
  • 6216 Chalk Hollow Drive Fort Worth, TX 2
    • 3 beds 2 baths ∙ 1,791 Sqft ∙ Built 2009 3 beds 2 baths ∙ 1,791 Sqft ∙ Built 2009
    LEASED 11/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.92
    •  
  • 6244 Granite Creek Drive Fort Worth, TX 4
    • 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
    •  
  • 6117 Tilapia Drive Fort Worth, TX 5
    • 4 beds 2 baths ∙ 1,841 Sqft ∙ Built 2006 4 beds 2 baths ∙ 1,841 Sqft ∙ Built 2006
    LEASED 11/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.95
    •  
PROPERTY LISTING DETAILS
Yeimy Amado
Keller Williams Realty Ftworth
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14528328
Last Updated: 03/06/2021
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