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6501 Chalk River Drive Fort Worth, TX 76179

3 Beds 3 Baths 2,239 sqft Built 2013

$257,500

List Price

$1,810

$1.6K - $2K

Rent Est.

PROPERTY INFO

November 05, 2020 RECENTLY ADDED
FACTS
  • Built In 2013
  • Price/Sqft : $115.01
  • 4 Days on Market
  • MLS # : 14464607
  • Updated Date : 11/05/2020 at 17:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,239 sqft
  • Baths : 2 full , 1 half
Listing Agent

Indwell

Listing Agent's Description

Excellent home in Eagle-Mt Saginaw ISD. Welcome to your new home, with a spacious open concept living-kitchen-dining area, large bedrooms, extra living room upstairs and covered back patio. This home is only 7 years old has been fantastically maintained and has brand new carpet. Office could easily be a 4th bedroom.

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: Eagle Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $104k336k

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

Neighborhood: Eagle 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
Lake Pointe Elementary School Primary Regular 664 35 8
Creekview Middle School Middle Regular 801 47 7
Boswell High School High Regular 1,605 106 7

Lake Pointe Elementary School

  • Education Level: Primary
  • # of students: 664
  • # of teachers: 35
8
GreatSchools Rating

Creekview Middle School

  • Education Level: Middle
  • # of students: 801
  • # of teachers: 47
7
GreatSchools Rating

Boswell High School

  • Education Level: High
  • # of students: 1,605
  • # of teachers: 106
7
GreatSchools Rating
 

$231,750$283,250$257,500

PURCHASE PRICE

$1,629$1,991$1,810

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,810
EXPENSES Loan Payment -$950
Property Tax -$590
Property Insurance -$157
HOA -$25
Property Management Fees -$99
CASH FLOW
-$11

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.

$257,500

PROJECTED PRICE

$1,810

PROJECTED RENT

0.70%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 7.3%
Maintenance Year (1-5) 8.00%
Vacancy 6.93%
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$800k

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$73,988

INVESTMENT

$73,988

Down Payment
$64,375
Rehab Estimate
$5,750
Closing Costs
$3,863

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$950

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $64,375
Loan Amount $193,125
See What Happens When You Reinvest Cash Flow

4.17

YEARS SAVED

$12,093

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,810

    LIST RENT
  • $0.81

    LIST RENT PER SQFT
  • $1,847

    COMP ESTIMATED VALUE
  • $0.83

    COMP AVG. RENT PER SQFT
Comps Range
$1,595
1$1,5952$1,6453$1,7924$1,8105$1,835
$1,835
RENT COMPS ANALYSIS
  • 6501 Chalk River Drive Fort Worth, TX 4
    • 3 beds 3 baths ∙ 2,239 Sqft ∙ Built 2013 3 beds 3 baths ∙ 2,239 Sqft ∙ Built 2013
    • Rent
    • Rent Per SQFT
    •  
    • $1,810
    • $0.81
    •  
  • 6512 Chalk River Drive Fort Worth, TX 1
    • 4 beds 2 baths ∙ 2,028 Sqft ∙ Built 2004 4 beds 2 baths ∙ 2,028 Sqft ∙ Built 2004
    LEASED 11/13/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.79
    •  
  • 7124 Bannock Drive Fort Worth, TX 2
    • 3 beds 3 baths ∙ 2,018 Sqft ∙ Built 2007 3 beds 3 baths ∙ 2,018 Sqft ∙ Built 2007
    LEASED 06/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,645
    • $0.82
    •  
  • 7221 Little Mohican Drive Fort Worth, TX 3
    • 3 beds 3 baths ∙ 2,223 Sqft ∙ Built 2005 3 beds 3 baths ∙ 2,223 Sqft ∙ Built 2005
    LEASED 05/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,792
    • $0.81
    •  
  • 7105 Kickapoo Drive Fort Worth, TX 5
    • 4 beds 3 baths ∙ 2,095 Sqft ∙ Built 2014 4 beds 3 baths ∙ 2,095 Sqft ∙ Built 2014
    LEASED 06/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,835
    • $0.88
    •  
PROPERTY LISTING DETAILS
Richard Gonzales
Indwell
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14464607
Last Updated: 11/05/2020
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