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6324 Pinionpark Way Fort Worth, TX 76179

4 Beds 2 Baths 2,225 sqft Built 2007

$265,000

List Price

$1,830

$1.6K - $2K

Rent Est.

PROPERTY INFO

December 19, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2007
  • Price/Sqft : $119.10
  • 2 Days on Market
  • MLS # : 14487199
  • Updated Date : 12/19/2020 at 12:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,225 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Arlington

Listing Agent's Description

Adorable 4 bedroom home on corner lot in desirable Fort Worth neighborhood. Features include split master, Open Concept living area with wood flooring, lots of kitchen cabinets with granite counters and MORE. Easy access to I820 and Boat Club Road.

SEE MORE

MARKET HIGHLIGHTS

  • # 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)
  • . Dallas has 7th largest concentration of high-tech jobs in the U.S. (Dallas Chamber)

PRICE & RENT TRENDS

Neighborhood: Pinion Park

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260kPrice in $104k267k

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

Neighborhood: Pinion Park

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100011001200130014001500160017001800Rent in $9191882

* 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
 

$238,500$291,500$265,000

PURCHASE PRICE

$1,647$2,013$1,830

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,830
EXPENSES Loan Payment -$978
Property Tax -$635
Property Insurance -$156
HOA -$12
Property Management Fees -$99
CASH FLOW
-$49

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.

$265,000

PROJECTED PRICE

$1,830

PROJECTED RENT

0.69%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 4.4%
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

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$75,975

INVESTMENT

$75,975

Down Payment
$66,250
Rehab Estimate
$5,750
Closing Costs
$3,975

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$978

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $66,250
Loan Amount $198,750
See What Happens When You Reinvest Cash Flow

3.5

YEARS SAVED

$9,612

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,830

    LIST RENT
  • $0.82

    LIST RENT PER SQFT
  • $1,825

    COMP ESTIMATED VALUE
  • $0.82

    COMP AVG. RENT PER SQFT
Comps Range
$1,695
1$1,6952$1,7503$1,7954$1,8305$1,995
$1,995
RENT COMPS ANALYSIS
  • 6324 Pinionpark Way Fort Worth, TX 4
    • 4 beds 2 baths ∙ 2,225 Sqft ∙ Built 2007 4 beds 2 baths ∙ 2,225 Sqft ∙ Built 2007
    • Rent
    • Rent Per SQFT
    •  
    • $1,830
    • $0.82
    •  
  • 5841 Barrier Reef Drive Fort Worth, TX 1
    • 3 beds 3 baths ∙ 2,120 Sqft ∙ Built 2005 3 beds 3 baths ∙ 2,120 Sqft ∙ Built 2005
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.80
    •  
  • 6220 Granite Creek Drive Fort Worth, TX 2
    • 4 beds 2 baths ∙ 2,096 Sqft ∙ Built 2008 4 beds 2 baths ∙ 2,096 Sqft ∙ Built 2008
    LEASED 07/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.83
    •  
  • 6300 Jasper Lake Drive Fort Worth, TX 3
    • 4 beds 3 baths ∙ 2,312 Sqft ∙ Built 2018 4 beds 3 baths ∙ 2,312 Sqft ∙ Built 2018
    LEASED 01/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.78
    •  
  • 6233 Verdon Gorge Drive Fort Worth, TX 5
    • 4 beds 3 baths ∙ 2,297 Sqft ∙ Built 2018 4 beds 3 baths ∙ 2,297 Sqft ∙ Built 2018
    LEASED 08/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.87
    •  
PROPERTY LISTING DETAILS
Timothy Beary
Keller Williams Arlington
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14487199
Last Updated: 12/19/2020
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