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6601 Basswood Drive Fort Worth, TX 76135

3 Beds 2 Baths 1,994 sqft Built 1993

$242,500

List Price

$1,660

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 20, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1993
  • Price/Sqft : $121.61
  • 2 Days on Market
  • MLS # : 14533486
  • Updated Date : 03/20/2021 at 10:41
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,994 sqft
  • Baths : 2 full
Listing Agent

Williams Trew Real Estate

Listing Agent's Description

Charming 1 story home on a corner lot! This home has generous living areas with a wood burning fireplace, formal dining room and eat in kitchen. The kitchen is spacious and open to the second living area. Large master suite with walk in closet. Split bedrooms with plenty of closet space. 2 car garage with storage, work shed in backyard. Easy access to loop 820, shopping, and restaurants. Don't miss out on this opportunity!

SEE MORE

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

Neighborhood: Jenkins Heights

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240kPrice in $71k243k

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

Neighborhood: Jenkins Heights

NeighborhoodNIR Market*CityMarket2010Year20002019 Q280090010001100120013001400150016001700Rent in $7881734

* 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
Greenfield Elementary School Primary Regular 754 38 8
Ed Willkie Middle School Middle Regular 862 53 5
Chisholm Trail High School High Unknown NA

Greenfield Elementary School

  • Education Level: Primary
  • # of students: 754
  • # of teachers: 38
8
GreatSchools Rating

Ed Willkie Middle School

  • Education Level: Middle
  • # of students: 862
  • # of teachers: 53
5
GreatSchools Rating

Chisholm Trail High School

  • Education Level: High
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$218,250$266,750$242,500

PURCHASE PRICE

$1,494$1,826$1,660

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,660
EXPENSES Loan Payment -$842
Property Tax -$556
Property Insurance -$142
Property Management Fees -$99
CASH FLOW
$20

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.

$242,500

PROJECTED PRICE

$1,660

PROJECTED RENT

0.68%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.74%
Appreciation Year (1-5) 18.1%
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$1.2M

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$200k$400k$600k$800k$1.0M$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$70,013

INVESTMENT

$70,013

Down Payment
$60,625
Rehab Estimate
$5,750
Closing Costs
$3,638

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$842

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $60,625
Loan Amount $181,875
See What Happens When You Reinvest Cash Flow

4.5

YEARS SAVED

$10,844

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,660

    LIST RENT
  • $0.83

    LIST RENT PER SQFT
  • $1,700

    COMP ESTIMATED VALUE
  • $0.85

    COMP AVG. RENT PER SQFT
Comps Range
$1,595
1$1,5952$1,5953$1,6254$1,6605$1,695
$1,695
RENT COMPS ANALYSIS
  • 6601 Basswood Drive Fort Worth, TX 4
    • 3 beds 2 baths ∙ 1,994 Sqft ∙ Built 1993 3 beds 2 baths ∙ 1,994 Sqft ∙ Built 1993
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,660
    • $0.83
    •  
  • 4820 Deal Drive Fort Worth, TX 1
    • 3 beds 2 baths ∙ 2,044 Sqft ∙ Built 1996 3 beds 2 baths ∙ 2,044 Sqft ∙ Built 1996
    property image
    LEASED 02/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.78
    •  
  • 4240 Canyon Trail Lake Worth, TX 2
    • 4 beds 3 baths ∙ 1,746 Sqft ∙ Built 2005 4 beds 3 baths ∙ 1,746 Sqft ∙ Built 2005
    property image
    LEASED 02/18/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.91
    •  
  • 5737 Starboardway Drive Fort Worth, TX 3
    • 4 beds 2 baths ∙ 1,973 Sqft ∙ Built 2002 4 beds 2 baths ∙ 1,973 Sqft ∙ Built 2002
    property image
    LEASED 03/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,625
    • $0.82
    •  
  • 4224 Canyon Trail Lake Worth, TX 5
    • 4 beds 3 baths ∙ 1,878 Sqft ∙ Built 2005 4 beds 3 baths ∙ 1,878 Sqft ∙ Built 2005
    property image
    LEASED 02/08/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.90
    •  
PROPERTY LISTING DETAILS
Susan Cook
Williams Trew Real Estate
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14533486
Last Updated: 03/20/2021
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