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6840 Prairie Hill Road Fort Worth, TX 76131

3 Beds 2 Baths 1,425 sqft Built 1998

$210,000

List Price

$1,410

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

January 07, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1998
  • Price/Sqft : $147.37
  • 4 Days on Market
  • MLS # : 14493940
  • Updated Date : 01/08/2021 at 16:06
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,425 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Realty

Listing Agent's Description

Charming 3-2-2 on CORNER LOT. Would Make the Perfect Starter Home! Beautiful Laminate Flooring Found In Common Areas! Enter Into The Light & Bright, Spacious Front Living That Features Painted Brick Fireplace & Ceiling Beam! Kitchen Includes Breakfast Area, SS Appliances and Two-Tone Painted Cabinets. Generously Sized Master Bedroom. Backyard Offers Room to Play and Create Your Own Oasis. Easy Highway Access. Located a Short Drive From Local Shopping, Dining and Entertainment. Recent Updates Include Interior Paint, Flooring, SS Appliances. Roof Replaced in 2018!

SEE MORE

MARKET HIGHLIGHTS

  • # 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)
  • . Dallas has 7th largest concentration of high-tech jobs in the U.S. (Dallas Chamber)

PRICE & RENT TRENDS

Neighborhood: Western Meadows

NeighborhoodNIR Market*CityMarket2010Year20002019110k120k130k140k150k160k170k180k190k200k210k220k230k240kPrice in $104k243k

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

Neighborhood: Western Meadows

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
Chisholm Ridge Elementary School Primary Regular 651 37 5
Highland Middle School Middle Regular 815 54 7
Saginaw High School High Regular 1,785 113 6

Chisholm Ridge Elementary School

  • Education Level: Primary
  • # of students: 651
  • # of teachers: 37
5
GreatSchools Rating

Highland Middle School

  • Education Level: Middle
  • # of students: 815
  • # of teachers: 54
7
GreatSchools Rating

Saginaw High School

  • Education Level: High
  • # of students: 1,785
  • # of teachers: 113
6
GreatSchools Rating
 

$189,000$231,000$210,000

PURCHASE PRICE

$1,269$1,551$1,410

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,410
EXPENSES Loan Payment -$729
Property Tax -$481
Property Insurance -$110
Property Management Fees -$99
CASH FLOW
-$9

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.

$210,000

PROJECTED PRICE

$1,410

PROJECTED RENT

0.67%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 7.3%
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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$61,400

INVESTMENT

$61,400

Down Payment
$52,500
Rehab Estimate
$5,750
Closing Costs
$3,150

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$729

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $52,500
Loan Amount $157,500
See What Happens When You Reinvest Cash Flow

4.17

YEARS SAVED

$8,206

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,410

    LIST RENT
  • $0.99

    LIST RENT PER SQFT
  • $1,404

    COMP ESTIMATED VALUE
  • $0.99

    COMP AVG. RENT PER SQFT
Comps Range
$1,410
1$1,4102$1,4953$1,5954$1,6005$1,600
$1,600
RENT COMPS ANALYSIS
  • 6840 Prairie Hill Road Fort Worth, TX 1
    • 3 beds 2 baths ∙ 1,425 Sqft ∙ Built 1998 3 beds 2 baths ∙ 1,425 Sqft ∙ Built 1998
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,410
    • $0.99
    •  
  • 1764 Independence Road Blue Mound, TX 2
    • 3 beds 2 baths ∙ 1,538 Sqft ∙ Built 1998 3 beds 2 baths ∙ 1,538 Sqft ∙ Built 1998
    property image
    LEASED 07/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.97
    •  
  • 6304 Kristen Drive Fort Worth, TX 3
    • 3 beds 2 baths ∙ 1,575 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,575 Sqft ∙ Built 2004
    property image
    LEASED 07/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $1.01
    •  
  • 1741 Kachina Lodge Road Fort Worth, TX 4
    • 3 beds 2 baths ∙ 1,583 Sqft ∙ Built 2015 3 beds 2 baths ∙ 1,583 Sqft ∙ Built 2015
    property image
    LEASED 03/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $1.01
    •  
  • 1845 Capulin Road Fort Worth, TX 5
    • 3 beds 2 baths ∙ 1,678 Sqft ∙ Built 2013 3 beds 2 baths ∙ 1,678 Sqft ∙ Built 2013
    property image
    LEASED 04/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.95
    •  
PROPERTY LISTING DETAILS
Angelo Puma
Keller Williams Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14493940
Last Updated: 01/08/2021
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