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6917 Vista Ridge Drive Fort Worth, TX 76132

4 Beds 4 Baths 3,016 sqft Built 1995

INVESTimate

$399,000

List Price

$2,740

$2,490 - $2,990

Rent Est.

$421,304  ( +5.59%)   1 YR EST. FORECAST

PROPERTY INFO

August 20, 2020 RECENTLY ADDED
FACTS
  • Built In 1995
  • Price/Sqft : $132.29
  • 7 Days on Market
  • MLS # : 14417171
  • Updated Date : 08/25/2020 at 13:18
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,016 sqft
  • Baths : 3 full , 1 half
Listing Agent

Re/max Trinity

Listing Agent's Description

Beautiful & spacious 4 bedroom, 3.5 bathroom with 2 car garage on oversized treed lot in gated, established neighborhood. New flooring downstairs, vaulted ceilings, fireplace, built-in kitchen, fenced yard, covered patio & so much more. This home is conveniently located within minutes to all the major private schools in SW Fort Worth. Close to highways for easy commute as well as shopping, dining & houses of worship. This home is ready for your personal stamp. Welcome home!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • # 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)

PRICE & RENT TRENDS

Neighborhood: South Ridge East

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240kPrice in $80k243k

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

Neighborhood: South Ridge East

NeighborhoodNIR Market*CityMarket2010Year20002019 Q280090010001100120013001400150016001700Rent in $7841734

* 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
Westcreek Elementary School Primary Regular 722 41 3
Wedgwood Middle School Middle Regular 931 54 4
South Hills High School High Regular 1,846 108 3

Westcreek Elementary School

  • Education Level: Primary
  • # of students: 722
  • # of teachers: 41
3
GreatSchools Rating

Wedgwood Middle School

  • Education Level: Middle
  • # of students: 931
  • # of teachers: 54
4
GreatSchools Rating

South Hills High School

  • Education Level: High
  • # of students: 1,846
  • # of teachers: 108
3
GreatSchools Rating
 

$359,100$438,900$399,000

PURCHASE PRICE

$2,466$3,014$2,740

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,740
EXPENSES Loan Payment -$1,472
Property Tax -$1,065
Property Insurance -$201
HOA -$33
Property Management Fees -$99
CASH FLOW
-$131

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.

$399,000

PROJECTED PRICE

$2,740

PROJECTED RENT

0.69%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.74%
Appreciation Year (1-5) 5.59%
Maintenance Year (1-5) 8.00%
Vacancy 6.69%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$111,485

INVESTMENT

$111,485

Down Payment
$99,750
Rehab Estimate
$5,750
Closing Costs
$5,985

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,472

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $99,750
Loan Amount $299,250
See What Happens When You Reinvest Cash Flow

2.42

YEARS SAVED

$8,691

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,740

    LIST RENT
  • $0.91

    LIST RENT PER SQFT
  • $2,941

    COMP ESTIMATED VALUE
  • $0.98

    COMP AVG. RENT PER SQFT
Comps Range
$2,595
1$2,5952$2,7403$2,8004$3,0005$3,200
$3,200
RENT COMPS ANALYSIS
  • 6917 Vista Ridge Drive Fort Worth, TX 2
    • 4 beds 4 baths ∙ 3,016 Sqft ∙ Built 1995 4 beds 4 baths ∙ 3,016 Sqft ∙ Built 1995
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,740
    • $0.91
    •  
  • 6428 Fianna Hills Drive Fort Worth, TX 1
    • 4 beds 3 baths ∙ 2,716 Sqft ∙ Built 2001 4 beds 3 baths ∙ 2,716 Sqft ∙ Built 2001
    property image
    LEASED 05/07/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,595
    • $0.96
    •  
  • 7120 Axis Court Fort Worth, TX 3
    • 4 beds 3 baths ∙ 2,812 Sqft ∙ Built 2000 4 beds 3 baths ∙ 2,812 Sqft ∙ Built 2000
    property image
    LEASED 07/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $1.00
    •  
  • 7301 Valencia Grove Court Fort Worth, TX 4
    • 4 beds 4 baths ∙ 3,295 Sqft ∙ Built 2010 4 beds 4 baths ∙ 3,295 Sqft ∙ Built 2010
    property image
    LEASED 01/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $0.91
    •  
  • 6309 Dawn Hills Drive Fort Worth, TX 5
    • 4 beds 4 baths ∙ 3,100 Sqft ∙ Built 2003 4 beds 4 baths ∙ 3,100 Sqft ∙ Built 2003
    property image
    LEASED 06/20/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $1.03
    •  
PROPERTY LISTING DETAILS
Daniel Murphy
Re/max Trinity
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14417171
Last Updated: 08/25/2020
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