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6701 Glen Meadow Drive Fort Worth, TX 76132

4 Beds 4 Baths 3,626 sqft Built 1987

$589,000

List Price

$3,180

$2.9K - $3.4K

Rent Est.

PROPERTY INFO

January 28, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1987
  • Price/Sqft : $162.44
  • 4 Days on Market
  • MLS # : 14507870
  • Updated Date : 01/29/2021 at 21:52
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,626 sqft
  • Baths : 4 full
Listing Agent

League Real Estate

Listing Agent's Description

Bellaire Park North beauty with classic details and luxurious appointments. This 4 bedroom, 4 bath, 3 living and 2 dining area home has all the space and storage you will need! You will appreciate the many features of the home including a fully renovated master bathroom with walk-in shower, an expansive covered patio, lush landscaping, play pool and gated driveway. Windows galore bring in an abundance of natural light with access to the backyard from all three living rooms. Cooking and entertaining will be a dream with the professional gas range, second wall oven and wet bar with a built in wine refrigerator and kegerator. This home is sure to check all your boxes; come and make it your home!

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: Bellaire Park North

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450kPrice in $104k493k

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

Neighborhood: Bellaire Park North

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100012001400160018002000220024002600280030003200Rent in $9193200

* 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
 

$530,100$647,900$589,000

PURCHASE PRICE

$2,862$3,498$3,180

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,180
EXPENSES Loan Payment -$2,046
Property Tax -$1,350
Property Insurance -$237
Property Management Fees -$99
CASH FLOW
-$552

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.

$589,000

PROJECTED PRICE

$3,180

PROJECTED RENT

0.54%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 5.2%
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$1.6M

PROJECTED ANNUAL CASH FLOW

11530-$15k-$10k-$5.0k$0.0$5.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$161,835

INVESTMENT

$161,835

Down Payment
$147,250
Rehab Estimate
$5,750
Closing Costs
$8,835

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 75% down payment or higher enables the proceeds from the asset to cover all costs.

$2,046

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $147,250
Loan Amount $441,750
See What Happens When You Reinvest Cash Flow

0.42

YEARS SAVED

$983

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,180

    LIST RENT
  • $0.88

    LIST RENT PER SQFT
  • $3,614

    COMP ESTIMATED VALUE
  • $1

    COMP AVG. RENT PER SQFT
Comps Range
$3,180
1$3,1802$3,3003$3,6004$3,700
$3,700
RENT COMPS ANALYSIS
  • 6701 Glen Meadow Drive Fort Worth, TX 1
    • 4 beds 4 baths ∙ 3,626 Sqft ∙ Built 1987 4 beds 4 baths ∙ 3,626 Sqft ∙ Built 1987
    • Rent
    • Rent Per SQFT
    •  
    • $3,180
    • $0.88
    •  
  • 4216 Ridglea Country Club Drive Benbrook, TX 2
    • 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
    •  
  • 6920 Allen Place Drive Fort Worth, TX 3
    • 4 beds 4 baths ∙ 3,556 Sqft ∙ Built 1993 4 beds 4 baths ∙ 3,556 Sqft ∙ Built 1993
    LEASED 08/09/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,600
    • $1.01
    •  
  • 6682 Trinity Heights Boulevard Fort Worth, TX 4
    • 4 beds 4 baths ∙ 3,689 Sqft ∙ Built 2001 4 beds 4 baths ∙ 3,689 Sqft ∙ Built 2001
    LEASED 11/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,700
    • $1.00
    •  
PROPERTY LISTING DETAILS
Shelli Eskue
League Real Estate
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14507870
Last Updated: 01/29/2021
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