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6916 Meadow Way Lane Fort Worth, TX 76179

3 Beds 3 Baths 2,176 sqft Built 2003

INVESTimate

$229,900

List Price

$1,580

$1,422 - $1,738

Rent Est.

$250,660  ( +9.03%)   1 YR EST. FORECAST

PROPERTY INFO

August 21, 2020 RECENTLY ADDED
FACTS
  • Built In 2003
  • Price/Sqft : $105.65
  • 6 Days on Market
  • MLS # : 14411052
  • Updated Date : 08/23/2020 at 02:52
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,176 sqft
  • Baths : 2 full , 1 half
Listing Agent

Fathom Realty

Listing Agent's Description

Wonderful Floor plan with Master Bedroom Upstairs! Open concept Kitchen & Living Room! A Great Conversation Area, Game room Upstairs Would Also Make a Great Office! Two and Half Baths! Spacious Backyard with Wood Privacy Fence! Please follow current COVID 19 safety precautions. Buyers and buyers agents to verify accuracy of all information. Neither seller nor listing agent make any warranties or representation as to accuracy.

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
 

$206,910$252,890$229,900

PURCHASE PRICE

$1,422$1,738$1,580

RENT

DOWN PAYMENT
FINANCING

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-$4.0k-$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$700k$800k

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,580
EXPENSES Loan Payment -$848
Property Tax -$527
Property Insurance -$153
HOA -$24
Property Management Fees -$99
CASH FLOW
-$71

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.

$229,900

PROJECTED PRICE

$1,580

PROJECTED RENT

0.69%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 9.03%
Maintenance Year (1-5) 8.00%
Vacancy 6.39%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$66,674

INVESTMENT

$66,674

Down Payment
$57,475
Rehab Estimate
$5,750
Closing Costs
$3,449

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$848

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $57,475
Loan Amount $172,425
See What Happens When You Reinvest Cash Flow

3

YEARS SAVED

$6,489

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,580

    LIST RENT
  • $0.73

    LIST RENT PER SQFT
  • $1,583

    COMP ESTIMATED VALUE
  • $0.73

    COMP AVG. RENT PER SQFT
Comps Range
$1,495
1$1,4952$1,5503$1,5804$1,6955$1,745
$1,745
RENT COMPS ANALYSIS
  • 6916 Meadow Way Lane Fort Worth, TX 3
    • 3 beds 3 baths ∙ 2,176 Sqft ∙ Built 2003 3 beds 3 baths ∙ 2,176 Sqft ∙ Built 2003
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,580
    • $0.73
    •  
  • 4924 Creek Ridge Trail Fort Worth, TX 1
    • 3 beds 3 baths ∙ 2,212 Sqft ∙ Built 2004 3 beds 3 baths ∙ 2,212 Sqft ∙ Built 2004
    property image
    LEASED 08/23/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.68
    •  
  • 4946 Wildcreek Way Fort Worth, TX 2
    • 3 beds 3 baths ∙ 2,196 Sqft ∙ Built 2006 3 beds 3 baths ∙ 2,196 Sqft ∙ Built 2006
    property image
    LEASED 09/25/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.71
    •  
  • 6409 Meadow Way Lane Fort Worth, TX 4
    • 3 beds 3 baths ∙ 2,252 Sqft ∙ Built 2007 3 beds 3 baths ∙ 2,252 Sqft ∙ Built 2007
    property image
    LEASED 01/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.75
    •  
  • 4901 Water Ridge Lane Fort Worth, TX 5
    • 3 beds 3 baths ∙ 2,272 Sqft ∙ Built 2005 3 beds 3 baths ∙ 2,272 Sqft ∙ Built 2005
    property image
    LEASED 08/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,745
    • $0.77
    •  
PROPERTY LISTING DETAILS
Tim Russell
Fathom Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14411052
Last Updated: 08/23/2020
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