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6753 Meadow Way Lane Fort Worth, TX 76179

4 Beds 2 Baths 1,532 sqft Built 2005

$199,900

List Price

$1,510

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

October 27, 2020 RECENTLY ADDED
FACTS
  • Built In 2005
  • Price/Sqft : $130.48
  • 8 Days on Market
  • MLS # : 14461122
  • Updated Date : 10/28/2020 at 16:06
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,532 sqft
  • Baths : 2 full
Listing Agent

Fadal Buchanan & Associatesllc

Listing Agent's Description

Updated house in desirable neighborhood and schools. Come put your finishing touches on this open concept living home. 4 Bedrooms, 2 full baths, Large living room opens to kitchen with granite counters, updated fixtures and flooring throughout. Master suite boosts custom wood work. Close to downtown and all major highways, Snatch it up before its gone.

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: Parkview Hills

NeighborhoodNIR Market*CityMarket2010Year20002019110k120k130k140k150k160k170k180k190k200k210k220k230k240kPrice in $104k243k

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

Neighborhood: Parkview Hills

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700Rent in $9191734

* 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
Parkview Elementary School Primary Regular 695 40 6
Creekview Middle School Middle Regular 801 47 7

Parkview Elementary School

  • Education Level: Primary
  • # of students: 695
  • # of teachers: 40
6
GreatSchools Rating

Creekview Middle School

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

$179,910$219,890$199,900

PURCHASE PRICE

$1,359$1,661$1,510

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,510
EXPENSES Loan Payment -$738
Property Tax -$458
Property Insurance -$116
HOA -$15
Property Management Fees -$99
CASH FLOW
$84

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 14% of earned rent to cover both maintenance and periods of vacancy.

$199,900

PROJECTED PRICE

$1,510

PROJECTED RENT

0.76%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 9.0%
Maintenance Year (1-5) 8.00%
Vacancy 6.39%
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

PROJECTED ANNUAL CASH FLOW

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

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$58,724

INVESTMENT

$58,724

Down Payment
$49,975
Rehab Estimate
$5,750
Closing Costs
$2,999

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$738

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $49,975
Loan Amount $149,925
See What Happens When You Reinvest Cash Flow

6.5

YEARS SAVED

$17,950

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,510

    LIST RENT
  • $0.99

    LIST RENT PER SQFT
  • $1,513

    COMP ESTIMATED VALUE
  • $0.99

    COMP AVG. RENT PER SQFT
Comps Range
$1,495
1$1,4952$1,4953$1,4994$1,5105$1,600
$1,600
RENT COMPS ANALYSIS
  • 6753 Meadow Way Lane Fort Worth, TX 4
    • 4 beds 2 baths ∙ 1,532 Sqft ∙ Built 2005 4 beds 2 baths ∙ 1,532 Sqft ∙ Built 2005
    • Rent
    • Rent Per SQFT
    •  
    • $1,510
    • $0.99
    •  
  • 4808 Fishhook Court Fort Worth, TX 1
    • 3 beds 2 baths ∙ 1,509 Sqft ∙ Built 2001 3 beds 2 baths ∙ 1,509 Sqft ∙ Built 2001
    LEASED 05/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.99
    •  
  • 6736 Meadow Way Lane Fort Worth, TX 2
    • 4 beds 2 baths ∙ 1,532 Sqft ∙ Built 2005 4 beds 2 baths ∙ 1,532 Sqft ∙ Built 2005
    LEASED 04/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.98
    •  
  • 6701 Meadow Way Lane Fort Worth, TX 3
    • 4 beds 2 baths ∙ 1,532 Sqft ∙ Built 2005 4 beds 2 baths ∙ 1,532 Sqft ∙ Built 2005
    LEASED 05/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,499
    • $0.98
    •  
  • 4863 Creek Ridge Trail Fort Worth, TX 5
    • 3 beds 2 baths ∙ 1,606 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,606 Sqft ∙ Built 2004
    LEASED 09/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $1.00
    •  
PROPERTY LISTING DETAILS
Dolores Fadal
Fadal Buchanan & Associatesllc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14461122
Last Updated: 10/28/2020
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