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6312 Armadillo Court Fort Worth, TX 76179

4 Beds 3 Baths 2,260 sqft Built 2020

$290,271

List Price

$2,020

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
November 05, 2020 RECENTLY ADDED
FACTS
  • Built In 2020
  • Price/Sqft : $128.44
  • 4 Days on Market
  • MLS # : 14466648
  • Updated Date : 11/05/2020 at 19:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,260 sqft
  • Baths : 3 full
Listing Agent

Meritage Homes Realty

Listing Agent's Description

Brand NEW energy-efficient home ready March 2021! Sip your morning coffee at the Henderson’s convenient kitchen island overlooking the dining and great rooms. Pebble cabinets with shaded grey granite countertops, brown grey EVP flooring with multi-tone carpet in our Elemental 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
 

$261,244$319,298$290,271

PURCHASE PRICE

$1,818$2,222$2,020

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,020
EXPENSES Loan Payment -$1,071
Property Tax -$706
Property Insurance -$158
HOA -$33
Property Management Fees -$99
CASH FLOW
-$47

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.

$290,271

PROJECTED PRICE

$2,020

PROJECTED RENT

0.70%

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$200k$400k$600k$800k

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k$900k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$78,922

INVESTMENT

$78,922

Down Payment
$72,568
Rehab Estimate
$2,000
Closing Costs
$4,354

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,071

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $72,568
Loan Amount $217,703
See What Happens When You Reinvest Cash Flow

3.5

YEARS SAVED

$10,767

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,020

    LIST RENT
  • $0.89

    LIST RENT PER SQFT
  • $1,978

    COMP ESTIMATED VALUE
  • $0.88

    COMP AVG. RENT PER SQFT
Comps Range
$1,750
1$1,7502$1,7903$1,8954$1,9255$2,020
$2,020
RENT COMPS ANALYSIS
  • 6312 Armadillo Court Fort Worth, TX 5
    • 4 beds 3 baths ∙ 2,260 Sqft ∙ Built 2020 4 beds 3 baths ∙ 2,260 Sqft ∙ Built 2020
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,020
    • $0.89
    •  
  • 6220 Granite Creek Drive Fort Worth, TX 1
    • 4 beds 2 baths ∙ 2,096 Sqft ∙ Built 2008 4 beds 2 baths ∙ 2,096 Sqft ∙ Built 2008
    property image
    LEASED 07/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.83
    •  
  • 6329 Stone Lake Drive Fort Worth, TX 2
    • 4 beds 2 baths ∙ 2,068 Sqft ∙ Built 2007 4 beds 2 baths ∙ 2,068 Sqft ∙ Built 2007
    property image
    LEASED 11/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,790
    • $0.87
    •  
  • 6121 Paddlefish Drive Fort Worth, TX 3
    • 3 beds 2 baths ∙ 2,142 Sqft ∙ Built 2006 3 beds 2 baths ∙ 2,142 Sqft ∙ Built 2006
    property image
    LEASED 12/17/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.88
    •  
  • 6524 Stone Lake Drive Fort Worth, TX 4
    • 4 beds 2 baths ∙ 2,103 Sqft ∙ Built 2006 4 beds 2 baths ∙ 2,103 Sqft ∙ Built 2006
    property image
    LEASED 08/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,925
    • $0.92
    •  
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 #: 14466648
Last Updated: 11/05/2020
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