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6556 Fairview Drive Watauga, TX 76148

3 Beds 2 Baths 1,856 sqft Built 2009

$243,000

List Price

$1,730

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

October 30, 2020 RECENTLY ADDED
FACTS
  • Built In 2009
  • Price/Sqft : $130.93
  • 5 Days on Market
  • MLS # : 14462131
  • Updated Date : 10/29/2020 at 21:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,856 sqft
  • Baths : 2 full
Listing Agent

Cmt Realty

Listing Agent's Description

Charming 1 story home in a quiet Watauga neighborhood! This 3 Bed,2 Bath,2 Car Gar home features a wonderful open floorplan,split bedrooms and an abundance of natural light.The Dining Room could be used for office space or flex room.You will love the Kitchen with a granite island,stainless steel appliances and massive extended CTop and cabinet space.Large front and back porches are covered and inviting for family social time.HOME IS BEING SOLD AS IS...no repairs will be made.UTILITIES ARE OFF and buyer will be responsible to turn utilities on for inspections.Sellers have never lived in the property.Condition of the roof is unknown and seller believes sprinkler head by front of home is damaged and spews water.

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

Zip Code: 76148

ZipNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240kPrice in $84k243k

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

Zip Code: 76148

ZipNIR Market*CityMarket2010Year20002019 Q290010001100120013001400150016001700Rent in $8471734

* 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
Green Valley Elementary School Primary Regular 491 30 10
North Ridge Middle School Middle Regular 800 52 8
North Ridge Middle School High Regular 800 52 8

Green Valley Elementary School

  • Education Level: Primary
  • # of students: 491
  • # of teachers: 30
10
GreatSchools Rating

North Ridge Middle School

  • Education Level: Middle
  • # of students: 800
  • # of teachers: 52
8
GreatSchools Rating

North Ridge Middle School

  • Education Level: High
  • # of students: 800
  • # of teachers: 52
8
GreatSchools Rating
 

$218,700$267,300$243,000

PURCHASE PRICE

$1,557$1,903$1,730

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,730
EXPENSES Loan Payment -$897
Property Tax -$574
Property Insurance -$134
HOA -$33
Property Management Fees -$99
CASH FLOW
-$7

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.

$243,000

PROJECTED PRICE

$1,730

PROJECTED RENT

0.71%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.74%
Appreciation Year (1-5) 11.9%
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

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$200k$400k$600k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$70,145

INVESTMENT

$70,145

Down Payment
$60,750
Rehab Estimate
$5,750
Closing Costs
$3,645

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$897

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $60,750
Loan Amount $182,250
See What Happens When You Reinvest Cash Flow

4

YEARS SAVED

$10,952

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,730

    LIST RENT
  • $0.93

    LIST RENT PER SQFT
  • $1,837

    COMP ESTIMATED VALUE
  • $0.99

    COMP AVG. RENT PER SQFT
Comps Range
$1,650
1$1,6502$1,6753$1,7304$1,7745$1,795
$1,795
RENT COMPS ANALYSIS
  • 6556 Fairview Drive Watauga, TX 3
    • 3 beds 2 baths ∙ 1,856 Sqft ∙ Built 2009 3 beds 2 baths ∙ 1,856 Sqft ∙ Built 2009
    • Rent
    • Rent Per SQFT
    •  
    • $1,730
    • $0.93
    •  
  • 6804 Greenleaf Drive North Richland Hills, TX 1
    • 3 beds 2 baths ∙ 1,746 Sqft ∙ Built 1990 3 beds 2 baths ∙ 1,746 Sqft ∙ Built 1990
    LEASED 10/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.95
    •  
  • 2135 Ridgecliff Drive Keller, TX 2
    • 3 beds 2 baths ∙ 1,636 Sqft ∙ Built 1994 3 beds 2 baths ∙ 1,636 Sqft ∙ Built 1994
    LEASED 06/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,675
    • $1.02
    •  
  • 2075 Palomino Trail Keller, TX 4
    • 3 beds 2 baths ∙ 1,744 Sqft ∙ Built 1991 3 beds 2 baths ∙ 1,744 Sqft ∙ Built 1991
    LEASED 03/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,774
    • $1.02
    •  
  • 7655 Cypress Court North Richland Hills, TX 5
    • 4 beds 2 baths ∙ 1,848 Sqft ∙ Built 1996 4 beds 2 baths ∙ 1,848 Sqft ∙ Built 1996
    LEASED 11/07/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.97
    •  
PROPERTY LISTING DETAILS
Janice Fritchen
Cmt Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14462131
Last Updated: 10/29/2020
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