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6529 Monitor Lane Fort Worth, TX 76179

3 Beds 2 Baths 1,589 sqft Built 2020

$231,990

List Price

$1,570

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
December 04, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2020
  • Price/Sqft : $146.00
  • 3 Days on Market
  • MLS # : 14481611
  • Updated Date : 12/05/2020 at 09:40
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,589 sqft
  • Baths : 2 full
Listing Agent

Homesusa.com

Listing Agent's Description

MLS# 14481611- Built by Starlight Homes - Ready Now! ~ One of the very LAST Starlight Homes in Marine Creek. This 3 bedroom 2 bath offers granite counter tops, a huge pantry, stainless steel whirlpool appliances with the fridge and washer and dryer on the inside. On the outside, this 3 sided brick home features a fully sodded and sprinkled yard and a stained wood fence with metal posts. Call for an appointment. No agent on site.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • # 1 in the country for job growth in 2017 (2.6% growth, 91,700 new jobs) (US Census, Forbes, 2017)

PRICE & RENT TRENDS

Neighborhood: Marine Creek Hills

NeighborhoodNIR Market*CityMarket2010Year20002019100k110k120k130k140k150k160k170k180k190k200k210k220k230k240kPrice in $98k243k

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

Neighborhood: Marine Creek Hills

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700Rent in $9191734

* 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
Creekview Middle School Middle Regular 801 47 7

Creekview Middle School

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

$208,791$255,189$231,990

PURCHASE PRICE

$1,413$1,727$1,570

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,570
EXPENSES Loan Payment -$856
Property Tax -$502
Property Insurance -$119
HOA -$29
Property Management Fees -$99
CASH FLOW
-$35

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.

$231,990

PROJECTED PRICE

$1,570

PROJECTED RENT

0.68%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 12.3%
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

PROJECTED ANNUAL CASH FLOW

11530-$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$900k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$63,477

INVESTMENT

$63,477

Down Payment
$57,998
Rehab Estimate
$2,000
Closing Costs
$3,480

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$856

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $57,998
Loan Amount $173,993
See What Happens When You Reinvest Cash Flow

3.67

YEARS SAVED

$9,575

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,570

    LIST RENT
  • $0.99

    LIST RENT PER SQFT
  • $1,581

    COMP ESTIMATED VALUE
  • $1

    COMP AVG. RENT PER SQFT
Comps Range
$1,550
1$1,5502$1,5703$1,6504$1,6505$1,695
$1,695
RENT COMPS ANALYSIS
  • 6529 Monitor Lane Fort Worth, TX 2
    • 3 beds 2 baths ∙ 1,589 Sqft ∙ Built 2020 3 beds 2 baths ∙ 1,589 Sqft ∙ Built 2020
    • Rent
    • Rent Per SQFT
    •  
    • $1,570
    • $0.99
    •  
  • 6436 Waterhill Lane Fort Worth, TX 1
    • 3 beds 2 baths ∙ 1,582 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,582 Sqft ∙ Built 2006
    LEASED 07/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.98
    •  
  • 5324 Shady Springs Trail Fort Worth, TX 3
    • 3 beds 2 baths ∙ 1,636 Sqft ∙ Built 2019 3 beds 2 baths ∙ 1,636 Sqft ∙ Built 2019
    LEASED 03/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.01
    •  
  • 5305 Stone Meadow Lane Fort Worth, TX 4
    • 3 beds 2 baths ∙ 1,636 Sqft ∙ Built 2019 3 beds 2 baths ∙ 1,636 Sqft ∙ Built 2019
    LEASED 03/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.01
    •  
  • 5417 Shady Springs Trail Fort Worth, TX 5
    • 4 beds 2 baths ∙ 1,737 Sqft ∙ Built 2014 4 beds 2 baths ∙ 1,737 Sqft ∙ Built 2014
    LEASED 07/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.98
    •  
PROPERTY LISTING DETAILS
Ben Caballero
Homesusa.com
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14481611
Last Updated: 12/05/2020
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