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6720 Sierra Madre Drive Fort Worth, TX 76179

3 Beds 2 Baths 1,741 sqft Built 2004

$219,900

List Price

$1,700

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

December 11, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2004
  • Price/Sqft : $126.31
  • 3 Days on Market
  • MLS # : 14484656
  • Updated Date : 12/11/2020 at 18:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,741 sqft
  • Baths : 2 full
Listing Agent

Jp And Associates Fort Worth

Listing Agent's Description

Great 3 bedroom 2 bath with open concept , Spacious master with garden tub. Read Sellers disclosure this home is sold as is no repairs will be done .

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: Eagle Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $104k336k

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

Neighborhood: Eagle Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100011001200130014001500160017001800190020002100Rent in $9192171

* 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
Lake Pointe Elementary School Primary Regular 664 35 8
Creekview Middle School Middle Regular 801 47 7
Boswell High School High Regular 1,605 106 7

Lake Pointe Elementary School

  • Education Level: Primary
  • # of students: 664
  • # of teachers: 35
8
GreatSchools Rating

Creekview Middle School

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

Boswell High School

  • Education Level: High
  • # of students: 1,605
  • # of teachers: 106
7
GreatSchools Rating
 

$197,910$241,890$219,900

PURCHASE PRICE

$1,530$1,870$1,700

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,700
EXPENSES Loan Payment -$811
Property Tax -$504
Property Insurance -$128
HOA -$21
Property Management Fees -$99
CASH FLOW
$137

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.

$219,900

PROJECTED PRICE

$1,700

PROJECTED RENT

0.77%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 7.3%
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$100k$200k$300k$400k$500k$600k$700k$800k

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$64,024

INVESTMENT

$64,024

Down Payment
$54,975
Rehab Estimate
$5,750
Closing Costs
$3,299

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$811

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $54,975
Loan Amount $164,925
See What Happens When You Reinvest Cash Flow

7.5

YEARS SAVED

$24,108

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,700

    LIST RENT
  • $0.98

    LIST RENT PER SQFT
  • $1,728

    COMP ESTIMATED VALUE
  • $0.99

    COMP AVG. RENT PER SQFT
Comps Range
$1,495
1$1,4952$1,6503$1,6504$1,6955$1,700
$1,700
RENT COMPS ANALYSIS
  • 6720 Sierra Madre Drive Fort Worth, TX 5
    • 3 beds 2 baths ∙ 1,741 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,741 Sqft ∙ Built 2004
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.98
    •  
  • 6948 Big Wichita Drive Fort Worth, TX 1
    • 3 beds 2 baths ∙ 1,575 Sqft ∙ Built 2007 3 beds 2 baths ∙ 1,575 Sqft ∙ Built 2007
    LEASED 08/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.95
    •  
  • 6337 Seagull Lane Fort Worth, TX 2
    • 4 beds 2 baths ∙ 1,600 Sqft ∙ Built 2017 4 beds 2 baths ∙ 1,600 Sqft ∙ Built 2017
    LEASED 02/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.03
    •  
  • 6701 Chalk River Drive Fort Worth, TX 3
    • 3 beds 2 baths ∙ 1,588 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,588 Sqft ∙ Built 2003
    LEASED 05/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.04
    •  
  • 6320 Sails Street Fort Worth, TX 4
    • 4 beds 2 baths ∙ 1,792 Sqft ∙ Built 2017 4 beds 2 baths ∙ 1,792 Sqft ∙ Built 2017
    LEASED 02/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.95
    •  
PROPERTY LISTING DETAILS
Cathy Atchison
Jp And Associates Fort Worth
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14484656
Last Updated: 12/11/2020
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