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6932 Allen Place Drive Fort Worth, TX 76116

3 Beds 3 Baths 2,282 sqft Built 1992

INVESTimate

$374,900

List Price

$2,290

$2,061 - $2,519

Rent Est.

$401,668  ( +7.14%)   1 YR EST. FORECAST

PROPERTY INFO

FACTS
  • Built In 1992
  • Price/Sqft : $164.29
  • 10 Days on Market
  • MLS # : 14415055
  • Updated Date : 08/18/2020 at 10:32
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,282 sqft
  • Baths : 2 full , 1 half
Listing Agent

Burt Ladner Real Estate Llc

Listing Agent's Description

Allen Place home with wonderful floor plan. Spacious living area downstairs, with newer laminate floors and fireplace, opens to dining room. Well-appointed kitchen featuring double ovens, built-in microwave, solid surface countertops and tile floors. Primary bedroom down with two additional bedrooms upstairs. Large upstairs game room. Covered patio with small grassy area. Easy access to Hulen Mall and Hulen restaurants.

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: Allen Place

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $104k362k

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

Neighborhood: Allen Place

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000120014001600180020002200Rent in $9192399

* 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
Ridglea Hills Elementary School Primary Regular 666 36 6
William Monnig Middle School Middle Regular 490 37 2
Arlington Heights High School High Regular 1,831 114 4

Ridglea Hills Elementary School

  • Education Level: Primary
  • # of students: 666
  • # of teachers: 36
6
GreatSchools Rating

William Monnig Middle School

  • Education Level: Middle
  • # of students: 490
  • # of teachers: 37
2
GreatSchools Rating

Arlington Heights High School

  • Education Level: High
  • # of students: 1,831
  • # of teachers: 114
4
GreatSchools Rating
 

$337,410$412,390$374,900

PURCHASE PRICE

$2,061$2,519$2,290

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-$8.0k-$6.0k-$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$200k$400k$600k$800k$1.0M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,290
EXPENSES Loan Payment -$1,383
Property Tax -$859
Property Insurance -$159
HOA -$9
Property Management Fees -$99
CASH FLOW
-$220

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.

$374,900

PROJECTED PRICE

$2,290

PROJECTED RENT

0.61%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 7.14%
Maintenance Year (1-5) 8.00%
Vacancy 6.39%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$105,099

INVESTMENT

$105,099

Down Payment
$93,725
Rehab Estimate
$5,750
Closing Costs
$5,624

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,383

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $93,725
Loan Amount $281,175
See What Happens When You Reinvest Cash Flow

1.67

YEARS SAVED

$5,079

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,290

    LIST RENT
  • $1

    LIST RENT PER SQFT
  • $2,312

    COMP ESTIMATED VALUE
  • $1.01

    COMP AVG. RENT PER SQFT
Comps Range
$2,175
1$2,1752$2,1953$2,2004$2,290
$2,290
RENT COMPS ANALYSIS
  • 6932 Allen Place Drive Fort Worth, TX 4
    • 3 beds 3 baths ∙ 2,282 Sqft ∙ Built 1992 3 beds 3 baths ∙ 2,282 Sqft ∙ Built 1992
    • Rent
    • Rent Per SQFT
    •  
    • $2,290
    • $1.00
    •  
  • 4917 Ridglea Hills Court Fort Worth, TX 1
    • 3 beds 3 baths ∙ 2,116 Sqft ∙ Built 2008 3 beds 3 baths ∙ 2,116 Sqft ∙ Built 2008
    LEASED 02/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,175
    • $1.03
    •  
  • 5212 Estrella Lane Benbrook, TX 2
    • 3 beds 2 baths ∙ 2,170 Sqft ∙ Built 2004 3 beds 2 baths ∙ 2,170 Sqft ∙ Built 2004
    LEASED 04/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,195
    • $1.01
    •  
  • 5901 River Bend Drive Benbrook, TX 3
    • 4 beds 3 baths ∙ 2,190 Sqft ∙ Built 1994 4 beds 3 baths ∙ 2,190 Sqft ∙ Built 1994
    LEASED 10/10/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $1.00
    •  
PROPERTY LISTING DETAILS
Andrea Halbach
Burt Ladner Real Estate Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14415055
Last Updated: 08/18/2020
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