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649 Ridgeback Trail Fort Worth, TX 76052

4 Beds 2 Baths 1,838 sqft Built 2020

INVESTimate

$269,999

List Price

$1,740

$1,566 - $1,914

Rent Est.

$290,789  ( +7.70%)   1 YR EST. FORECAST

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
August 24, 2020 RECENTLY ADDED
FACTS
  • Built In 2020
  • Price/Sqft : $146.90
  • 3 Days on Market
  • MLS # : 14419458
  • Updated Date : 08/23/2020 at 20:36
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,838 sqft
  • Baths : 2 full
Listing Agent

Wendell Miller Realty

Listing Agent's Description

The Serenade, with four bedrooms and two baths, opens with a traditional foyer that leads into the generous family room. The floorplan’s centerpiece features a wall of windows looking out onto the covered patio. The island kitchen, which provides granite countertops and GE® stainless steel appliances, overlooks the family room and flows into the breakfast nook. The master suite offers a walk-in closet and a lavish bath with cultured marble his-and-her vanities. THIS HOME COMPLETE OCTOBER 2020!!

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: Sendera Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300k320kPrice in $100k336k

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

Neighborhood: Sendera Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100011001200130014001500160017001800190020002100Rent in $9192171

* 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
Sendera Ranch Elementary School Primary Regular 599 37 8
Truett Wilson Middle School Middle Unknown 844 58 NA
Byron Nelson High School High Regular 2,552 147 8

Sendera Ranch Elementary School

  • Education Level: Primary
  • # of students: 599
  • # of teachers: 37
8
GreatSchools Rating

Truett Wilson Middle School

  • Education Level: Middle
  • # of students: 844
  • # of teachers: 58
NA
GreatSchools Rating

Byron Nelson High School

  • Education Level: High
  • # of students: 2,552
  • # of teachers: 147
8
GreatSchools Rating
 

$242,999$296,999$269,999

PURCHASE PRICE

$1,566$1,914$1,740

RENT

DOWN PAYMENT
FINANCING

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-$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$800k

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,740
EXPENSES Loan Payment -$996
Property Tax -$563
Property Insurance -$133
HOA -$42
Property Management Fees -$99
CASH FLOW
-$93

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 10% of earned rent to cover both maintenance and periods of vacancy.

$269,999

PROJECTED PRICE

$1,740

PROJECTED RENT

0.64%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 7.70%
Maintenance Year (1-5) 3.00%
Vacancy 6.93%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$73,550

INVESTMENT

$73,550

Down Payment
$67,500
Rehab Estimate
$2,000
Closing Costs
$4,050

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$996

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $67,500
Loan Amount $202,499
See What Happens When You Reinvest Cash Flow

2.92

YEARS SAVED

$7,603

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,740

    LIST RENT
  • $0.95

    LIST RENT PER SQFT
  • $1,705

    COMP ESTIMATED VALUE
  • $0.93

    COMP AVG. RENT PER SQFT
Comps Range
$1,650
1$1,6502$1,7403$1,7504$1,7505$1,800
$1,800
RENT COMPS ANALYSIS
  • 649 Ridgeback Trail Fort Worth, TX 2
    • 4 beds 2 baths ∙ 1,838 Sqft ∙ Built 2020 4 beds 2 baths ∙ 1,838 Sqft ∙ Built 2020
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,740
    • $0.95
    •  
  • 1305 Mountain Peak Drive Fort Worth, TX 1
    • 4 beds 2 baths ∙ 1,920 Sqft ∙ Built 2005 4 beds 2 baths ∙ 1,920 Sqft ∙ Built 2005
    property image
    LEASED 10/21/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.86
    •  
  • 13760 Trail Break Drive Fort Worth, TX 3
    • 4 beds 2 baths ∙ 1,920 Sqft ∙ Built 2004 4 beds 2 baths ∙ 1,920 Sqft ∙ Built 2004
    property image
    LEASED 12/28/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.91
    •  
  • 1140 Victory Bells Drive Fort Worth, TX 4
    • 3 beds 2 baths ∙ 1,800 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,800 Sqft ∙ Built 2006
    property image
    LEASED 04/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.97
    •  
  • 13360 Austin Stone Drive Fort Worth, TX 5
    • 3 beds 2 baths ∙ 1,856 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,856 Sqft ∙ Built 2005
    property image
    LEASED 02/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.97
    •  
PROPERTY LISTING DETAILS
Wendell Miller
Wendell Miller Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14419458
Last Updated: 08/23/2020
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