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650 Finney Road Weatherford, TX 76085

4 Beds 3 Baths 2,562 sqft Built 2021

$430,000

List Price

$2,470

$2.2K - $2.7K

Rent Est.

PROPERTY INFO

Built 2021 NEW CONSTRUCTION
SINGLE-FAMILY
March 14, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2021
  • Price/Sqft : $167.84
  • 1 Days on Market
  • MLS # : 14531000
  • Updated Date : 03/13/2021 at 14:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,562 sqft
  • Baths : 2 full , 1 half
Listing Agent

Keller Williams Realty

Listing Agent's Description

Come see this gorgeously appointed stunner by Abba River Homes! Beautifully situated on a 1 acre lot, you'll find something for everyone. Perfect for entertaining, the open concept kitchen looks into an ample living room which boasts soaring ceilings and expertly crafted WBFP. The primary suite provides an amazing retreat at the end of a long day, while the 3 guest bedrooms, AND outdoor area with fireplace that is an excellent place to unwind. Call today for your private showing! Please note - home is under construction. Finishes will vary - photos for example of craftsmanship and floor plan.

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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

Zip Code: 76085

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260kPrice in $104k269k

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

Zip Code: 76085

ZipNIR Market*CityMarket2010Year20002019 Q2115012001250130013501400145015001550160016501700Rent in $11081734

* 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
Cross Timbers Elementary School Primary Regular 509 30 7
Forte Junior High School Middle Regular 448 28 5
Azle High School High Regular 1,742 107 7

Cross Timbers Elementary School

  • Education Level: Primary
  • # of students: 509
  • # of teachers: 30
7
GreatSchools Rating

Forte Junior High School

  • Education Level: Middle
  • # of students: 448
  • # of teachers: 28
5
GreatSchools Rating

Azle High School

  • Education Level: High
  • # of students: 1,742
  • # of teachers: 107
7
GreatSchools Rating
 

$387,000$473,000$430,000

PURCHASE PRICE

$2,223$2,717$2,470

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,470
EXPENSES Loan Payment -$1,494
Property Tax -$775
Property Insurance -$175
Property Management Fees -$99
CASH FLOW
-$73

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.

$430,000

PROJECTED PRICE

$2,470

PROJECTED RENT

0.57%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 7.0%
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$1.0M$1.2M$1.4M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k

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$115,950

INVESTMENT

$115,950

Down Payment
$107,500
Rehab Estimate
$2,000
Closing Costs
$6,450

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,494

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $107,500
Loan Amount $322,500
See What Happens When You Reinvest Cash Flow

3.67

YEARS SAVED

$14,956

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,470

    LIST RENT
  • $0.96

    LIST RENT PER SQFT
  • $2,460

    COMP ESTIMATED VALUE
  • $0.96

    COMP AVG. RENT PER SQFT
Comps Range
$2,470
1$2,4702$2,550
$2,550
RENT COMPS ANALYSIS
  • 650 Finney Road Weatherford, TX 1
    • 4 beds 3 baths ∙ 2,562 Sqft ∙ Built 2021 4 beds 3 baths ∙ 2,562 Sqft ∙ Built 2021
    • Rent
    • Rent Per SQFT
    •  
    • $2,470
    • $0.96
    •  
  • 116 Sablewood Court Azle, TX 2
    • 4 beds 3 baths ∙ 2,654 Sqft ∙ Built 2016 4 beds 3 baths ∙ 2,654 Sqft ∙ Built 2016
    LEASED 11/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,550
    • $0.96
    •  
PROPERTY LISTING DETAILS
Marty Johnson
Keller Williams Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14531000
Last Updated: 03/13/2021
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