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6921 Meadow Way Lane Fort Worth, TX 76179

3 Beds 3 Baths 2,176 sqft Built 2003

$259,995

List Price

$1,710

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 09, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2003
  • Price/Sqft : $119.48
  • 6 Days on Market
  • MLS # : 14529637
  • Updated Date : 03/13/2021 at 15:37
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,176 sqft
  • Baths : 2 full , 1 half
Listing Agent

Ebby Halliday, Realtors

Listing Agent's Description

Fabulous home loaded with updates in a wonderful neighborhood! Owners have maintained this home immaculately. Take a short walk to the neighborhood park, pond, and local walking trails. The kitchen allows for conversations with guests in the living room, breakfast area, and beautiful views of the huge backyard. Home also features amazing backyard patio, updated HVAC 2019, updated roof 2019, water heater 2018, second living flex space upstairs, covered back patio with a sitting area, and so much more!

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: 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
Chisholm Trail High School High Unknown NA

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

Chisholm Trail High School

  • Education Level: High
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$233,996$285,995$259,995

PURCHASE PRICE

$1,539$1,881$1,710

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,710
EXPENSES Loan Payment -$903
Property Tax -$596
Property Insurance -$153
HOA -$12
Property Management Fees -$99
CASH FLOW
-$53

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.

$259,995

PROJECTED PRICE

$1,710

PROJECTED RENT

0.66%

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$800k$900k

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k$900k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$74,649

INVESTMENT

$74,649

Down Payment
$64,999
Rehab Estimate
$5,750
Closing Costs
$3,900

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$903

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $64,999
Loan Amount $194,996
See What Happens When You Reinvest Cash Flow

3.25

YEARS SAVED

$7,164

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,710

    LIST RENT
  • $0.79

    LIST RENT PER SQFT
  • $1,724

    COMP ESTIMATED VALUE
  • $0.79

    COMP AVG. RENT PER SQFT
Comps Range
$1,675
1$1,6752$1,7103$1,7454$1,7505$1,795
$1,795
RENT COMPS ANALYSIS
  • 6921 Meadow Way Lane Fort Worth, TX 2
    • 3 beds 3 baths ∙ 2,176 Sqft ∙ Built 2003 3 beds 3 baths ∙ 2,176 Sqft ∙ Built 2003
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,710
    • $0.79
    •  
  • 5116 Meandering Creek Court Fort Worth, TX 1
    • 4 beds 2 baths ∙ 2,100 Sqft ∙ Built 2006 4 beds 2 baths ∙ 2,100 Sqft ∙ Built 2006
    property image
    LEASED 07/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,675
    • $0.80
    •  
  • 4901 Water Ridge Lane Fort Worth, TX 3
    • 3 beds 3 baths ∙ 2,272 Sqft ∙ Built 2005 3 beds 3 baths ∙ 2,272 Sqft ∙ Built 2005
    property image
    LEASED 09/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,745
    • $0.77
    •  
  • 4617 Waterford Drive Fort Worth, TX 4
    • 3 beds 3 baths ∙ 2,176 Sqft ∙ Built 2003 3 beds 3 baths ∙ 2,176 Sqft ∙ Built 2003
    property image
    LEASED 10/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.80
    •  
  • 6409 Meadow Way Lane Fort Worth, TX 5
    • 3 beds 3 baths ∙ 2,252 Sqft ∙ Built 2007 3 beds 3 baths ∙ 2,252 Sqft ∙ Built 2007
    property image
    LEASED 02/21/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.80
    •  
PROPERTY LISTING DETAILS
Justin Ware
Ebby Halliday, Realtors
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14529637
Last Updated: 03/13/2021
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