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6924 Laurel Canyon Terrace Fort Worth, TX 76132

4 Beds 2 Baths 2,365 sqft Built 2000

$289,000

List Price

$2,040

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 21, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2000
  • Price/Sqft : $122.20
  • 1 Days on Market
  • MLS # : 14532102
  • Updated Date : 03/20/2021 at 22:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,365 sqft
  • Baths : 2 full
Listing Agent

Williams Trew Real Estate

Listing Agent's Description

Located in Park Palisades on a large corner lot and a cul-de-sac, this beautiful brick home is conveniently located near Chisholm Trail, restaurants, shopping and hospitals. The home has an open floor plan and offers ample room inside and out. There is flexible space in the formal living and dining rooms. The kitchen opens to the breakfast and family room, which focuses on the fireplace. The master bathroom has two sinks, separate shower, garden tub and two walk-in closets. Full of extras, including crown molding, plantation shutters, oversized baseboards, and a full sprinkler system. Wonderful covered back patio to enjoy the backyard, which also includes a shed and basketball goal. Community pool.

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: Park Palisades

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240kPrice in $88k244k

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

Neighborhood: Park Palisades

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
Oakmont Elementary School Primary Regular 561 39 5
Summer Creek Middle School Middle Regular 779 52 4
North Crowley High School High Regular 2,442 148 4

Oakmont Elementary School

  • Education Level: Primary
  • # of students: 561
  • # of teachers: 39
5
GreatSchools Rating

Summer Creek Middle School

  • Education Level: Middle
  • # of students: 779
  • # of teachers: 52
4
GreatSchools Rating

North Crowley High School

  • Education Level: High
  • # of students: 2,442
  • # of teachers: 148
4
GreatSchools Rating
 

$260,100$317,900$289,000

PURCHASE PRICE

$1,836$2,244$2,040

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,040
EXPENSES Loan Payment -$1,004
Property Tax -$663
Property Insurance -$164
HOA -$40
Property Management Fees -$99
CASH FLOW
$70

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.

$289,000

PROJECTED PRICE

$2,040

PROJECTED RENT

0.71%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.74%
Appreciation Year (1-5) 5.6%
Maintenance Year (1-5) 8.00%
Vacancy 6.69%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

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

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$82,335

INVESTMENT

$82,335

Down Payment
$72,250
Rehab Estimate
$5,750
Closing Costs
$4,335

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,004

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $72,250
Loan Amount $216,750
See What Happens When You Reinvest Cash Flow

5.25

YEARS SAVED

$15,923

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,040

    LIST RENT
  • $0.86

    LIST RENT PER SQFT
  • $2,194

    COMP ESTIMATED VALUE
  • $0.93

    COMP AVG. RENT PER SQFT
Comps Range
$1,995
1$1,9952$2,0403$2,1504$2,1505$2,295
$2,295
RENT COMPS ANALYSIS
  • 6924 Laurel Canyon Terrace Fort Worth, TX 2
    • 4 beds 2 baths ∙ 2,365 Sqft ∙ Built 2000 4 beds 2 baths ∙ 2,365 Sqft ∙ Built 2000
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,040
    • $0.86
    •  
  • 6905 Coldwater Canyon Road Fort Worth, TX 1
    • 4 beds 2 baths ∙ 2,180 Sqft ∙ Built 1999 4 beds 2 baths ∙ 2,180 Sqft ∙ Built 1999
    property image
    LEASED 01/02/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.92
    •  
  • 7020 Lomo Alto Drive Fort Worth, TX 3
    • 4 beds 3 baths ∙ 2,365 Sqft ∙ Built 1999 4 beds 3 baths ∙ 2,365 Sqft ∙ Built 1999
    property image
    LEASED 07/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $0.91
    •  
  • 6813 Beverly Glen Drive Fort Worth, TX 4
    • 3 beds 2 baths ∙ 2,365 Sqft ∙ Built 1999 3 beds 2 baths ∙ 2,365 Sqft ∙ Built 1999
    property image
    LEASED 03/02/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $0.91
    •  
  • 7020 Brookvale Road Fort Worth, TX 5
    • 3 beds 2 baths ∙ 2,365 Sqft ∙ Built 1986 3 beds 2 baths ∙ 2,365 Sqft ∙ Built 1986
    property image
    LEASED 07/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,295
    • $0.97
    •  
PROPERTY LISTING DETAILS
Corrine Hyman
Williams Trew Real Estate
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14532102
Last Updated: 03/20/2021
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