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6432 Canyon Trail Lake Worth, TX 76135

4 Beds 3 Baths 1,888 sqft Built 2006

$275,000

List Price

$1,630

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

January 31, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2006
  • Price/Sqft : $145.66
  • 1 Days on Market
  • MLS # : 14509878
  • Updated Date : 01/30/2021 at 23:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,888 sqft
  • Baths : 2 full , 1 half
Listing Agent

My Dream Home Helpers Realty

Listing Agent's Description

Wonderful 4 bedrooms, 2.5 bath home located in quite neighborhood in the heart of Lake Worth . Home is painted and replaced the flooring in November 2018. Open concepts. Located in desirable Lake Worth ISD. Great location just minutes away from 820, 199, and the elementary, middle and high schools.

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: Highland Lake

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240kPrice in $78k243k

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

Neighborhood: Highland Lake

NeighborhoodNIR Market*CityMarket2010Year20002019 Q290010001100120013001400150016001700Rent in $8901734

* 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
Marine Creek Elementary School Primary Regular 545 40 2
Lucyle Collins Middle School Middle Regular 478 33 3
Lake Worth High School High Regular 744 52 3

Marine Creek Elementary School

  • Education Level: Primary
  • # of students: 545
  • # of teachers: 40
2
GreatSchools Rating

Lucyle Collins Middle School

  • Education Level: Middle
  • # of students: 478
  • # of teachers: 33
3
GreatSchools Rating

Lake Worth High School

  • Education Level: High
  • # of students: 744
  • # of teachers: 52
3
GreatSchools Rating
 

$247,500$302,500$275,000

PURCHASE PRICE

$1,467$1,793$1,630

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,630
EXPENSES Loan Payment -$955
Property Tax -$619
Property Insurance -$136
Property Management Fees -$99
CASH FLOW
-$179

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 15% of earned rent to cover both maintenance and periods of vacancy.

$275,000

PROJECTED PRICE

$1,630

PROJECTED RENT

0.59%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.74%
Appreciation Year (1-5) 14.1%
Maintenance Year (1-5) 8.00%
Vacancy 6.69%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$78,625

INVESTMENT

$78,625

Down Payment
$68,750
Rehab Estimate
$5,750
Closing Costs
$4,125

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$955

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $68,750
Loan Amount $206,250
See What Happens When You Reinvest Cash Flow

1.33

YEARS SAVED

$1,950

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,630

    LIST RENT
  • $0.86

    LIST RENT PER SQFT
  • $1,610

    COMP ESTIMATED VALUE
  • $0.85

    COMP AVG. RENT PER SQFT
Comps Range
$1,525
1$1,5252$1,5953$1,6254$1,6305$1,725
$1,725
RENT COMPS ANALYSIS
  • 6432 Canyon Trail Lake Worth, TX 4
    • 4 beds 3 baths ∙ 1,888 Sqft ∙ Built 2006 4 beds 3 baths ∙ 1,888 Sqft ∙ Built 2006
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,630
    • $0.86
    •  
  • 5720 Fathom Drive Fort Worth, TX 1
    • 4 beds 2 baths ∙ 1,686 Sqft ∙ Built 2013 4 beds 2 baths ∙ 1,686 Sqft ∙ Built 2013
    property image
    LEASED 09/11/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,525
    • $0.90
    •  
  • 4820 Deal Drive Fort Worth, TX 2
    • 3 beds 2 baths ∙ 2,044 Sqft ∙ Built 1996 3 beds 2 baths ∙ 2,044 Sqft ∙ Built 1996
    property image
    LEASED 02/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.78
    •  
  • 5737 Starboardway Drive Fort Worth, TX 3
    • 4 beds 2 baths ∙ 1,973 Sqft ∙ Built 2002 4 beds 2 baths ∙ 1,973 Sqft ∙ Built 2002
    property image
    LEASED 03/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,625
    • $0.82
    •  
  • 4964 Galley Circle Fort Worth, TX 5
    • 4 beds 2 baths ∙ 1,897 Sqft ∙ Built 2015 4 beds 2 baths ∙ 1,897 Sqft ∙ Built 2015
    property image
    LEASED 10/17/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,725
    • $0.91
    •  
PROPERTY LISTING DETAILS
Anil Gari
My Dream Home Helpers Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14509878
Last Updated: 01/30/2021
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