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6629 Meadows West Drive Fort Worth, TX 76132

4 Beds 4 Baths 3,171 sqft Built 1984

$490,000

List Price

$3,210

$3K - $3.5K

Rent Est.

PROPERTY INFO

November 06, 2020 RECENTLY ADDED
FACTS
  • Built In 1984
  • Price/Sqft : $154.53
  • 3 Days on Market
  • MLS # : 14467245
  • Updated Date : 11/06/2020 at 19:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,171 sqft
  • Baths : 3 full , 1 half
Listing Agent

Lea Mcfalls-zeqiri

Listing Agent's Description

Stunning transformation of this massive home with the perfect mother-in-law set up plus ideal home office! New cabinets, KitchenAid, Bosch appliances, beautiful waterproof laminate throughout most of the house, gorgeous countertops and designer tile in bath. The master suite will leave your buyer speechless. New Roof, new outside 5 ton unit, 2 new hot water heaters, a living room built for entertaining. Sprinkler system with new controls, electronic gate with wrought iron entrance, outdoor living is a snap with large covered patio and additional patio. French drains and lovely landscaping. Verify all room sizes

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: Meadows West

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500kPrice in $104k502k

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

Neighborhood: Meadows West

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100012001400160018002000220024002600Rent in $9192608

* 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
Ridglea Hills Elementary School Primary Regular 666 36 6
William Monnig Middle School Middle Regular 490 37 2
Arlington Heights High School High Regular 1,831 114 4

Ridglea Hills Elementary School

  • Education Level: Primary
  • # of students: 666
  • # of teachers: 36
6
GreatSchools Rating

William Monnig Middle School

  • Education Level: Middle
  • # of students: 490
  • # of teachers: 37
2
GreatSchools Rating

Arlington Heights High School

  • Education Level: High
  • # of students: 1,831
  • # of teachers: 114
4
GreatSchools Rating
 

$441,000$539,000$490,000

PURCHASE PRICE

$2,889$3,531$3,210

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,210
EXPENSES Loan Payment -$1,808
Property Tax -$1,123
Property Insurance -$210
Property Management Fees -$99
CASH FLOW
-$31

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.

$490,000

PROJECTED PRICE

$3,210

PROJECTED RENT

0.66%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 5.6%
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$200k$400k$600k$800k$1.0M$1.2M$1.4M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$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$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$135,600

INVESTMENT

$135,600

Down Payment
$122,500
Rehab Estimate
$5,750
Closing Costs
$7,350

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,808

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $122,500
Loan Amount $367,500
See What Happens When You Reinvest Cash Flow

4.17

YEARS SAVED

$23,121

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,210

    LIST RENT
  • $1.01

    LIST RENT PER SQFT
  • $3,369

    COMP ESTIMATED VALUE
  • $1.06

    COMP AVG. RENT PER SQFT
Comps Range
$3,200
1$3,2002$3,2003$3,2104$3,3005$3,495
$3,495
RENT COMPS ANALYSIS
  • 6629 Meadows West Drive Fort Worth, TX 3
    • 4 beds 4 baths ∙ 3,171 Sqft ∙ Built 1984 4 beds 4 baths ∙ 3,171 Sqft ∙ Built 1984
    • Rent
    • Rent Per SQFT
    •  
    • $3,210
    • $1.01
    •  
  • 6309 Dawn Hills Drive Fort Worth, TX 1
    • 4 beds 4 baths ∙ 3,100 Sqft ∙ Built 2003 4 beds 4 baths ∙ 3,100 Sqft ∙ Built 2003
    LEASED 06/20/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $1.03
    •  
  • 32 Bounty Road Benbrook, TX 2
    • 4 beds 3 baths ∙ 2,906 Sqft ∙ Built 1972 4 beds 3 baths ∙ 2,906 Sqft ∙ Built 1972
    LEASED 08/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $1.10
    •  
  • 4216 Ridglea Country Club Drive Benbrook, TX 4
    • 4 beds 3 baths ∙ 3,379 Sqft ∙ Built 1969 4 beds 3 baths ∙ 3,379 Sqft ∙ Built 1969
    LEASED 02/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,300
    • $0.98
    •  
  • 3301 Riverwell Court Fort Worth, TX 5
    • 3 beds 4 baths ∙ 3,072 Sqft ∙ Built 1995 3 beds 4 baths ∙ 3,072 Sqft ∙ Built 1995
    LEASED 07/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,495
    • $1.14
    •  
PROPERTY LISTING DETAILS
Lea Mcfalls-zeqiri
Lea Mcfalls-zeqiri
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14467245
Last Updated: 11/06/2020
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