Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

6944 Freeboard Way Fort Worth, TX 76179

4 Beds 2 Baths 1,771 sqft Built 2018

INVESTimate

$235,000

List Price

$1,690

$1,521 - $1,859

Rent Est.

$252,578  ( +7.48%)   1 YR EST. FORECAST

PROPERTY INFO

August 22, 2020 RECENTLY ADDED
FACTS
  • Built In 2018
  • Price/Sqft : $132.69
  • 5 Days on Market
  • MLS # : 14418951
  • Updated Date : 08/22/2020 at 23:53
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,771 sqft
  • Baths : 2 full
Listing Agent

Fadal Buchanan & Associatesllc

Listing Agent's Description

This better than new home is ready for you. With four bedrooms and two baths, there is plenty of space for everyone in the family. Entertain in this open concept living room and chefs dream kitchen, or relax in the shade of your covered porch overlooking a large backyard. Beautiful touches can be seen throughout the home, but you will love the master bedroom with fresh paint, sliding barn door, and accent wall. Don’t miss out on your chance to own this great home at a great price.

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

Zip Code: 76179

ZipNIR Market*CityMarket2010Year20002019110k120k130k140k150k160k170k180k190k200k210k220k230k240kPrice in $104k243k

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

Zip Code: 76179

ZipNIR 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
Elkins Elementary School Primary Regular 603 39 7
Creekview Middle School Middle Regular 801 47 7
Boswell High School High Regular 1,605 106 7

Elkins Elementary School

  • Education Level: Primary
  • # of students: 603
  • # of teachers: 39
7
GreatSchools Rating

Creekview Middle School

  • Education Level: Middle
  • # of students: 801
  • # of teachers: 47
7
GreatSchools Rating

Boswell High School

  • Education Level: High
  • # of students: 1,605
  • # of teachers: 106
7
GreatSchools Rating
 

$211,500$258,500$235,000

PURCHASE PRICE

$1,521$1,859$1,690

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,690
EXPENSES Loan Payment -$867
Property Tax -$539
Property Insurance -$130
HOA -$33
Property Management Fees -$99
CASH FLOW
$22

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.

$235,000

PROJECTED PRICE

$1,690

PROJECTED RENT

0.72%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 7.48%
Maintenance Year (1-5) 8.00%
Vacancy 6.39%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$68,025

INVESTMENT

$68,025

Down Payment
$58,750
Rehab Estimate
$5,750
Closing Costs
$3,525

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$867

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $58,750
Loan Amount $176,250
See What Happens When You Reinvest Cash Flow

4.92

YEARS SAVED

$13,827

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,690

    LIST RENT
  • $0.95

    LIST RENT PER SQFT
  • $1,682

    COMP ESTIMATED VALUE
  • $0.95

    COMP AVG. RENT PER SQFT
Comps Range
$1,690
1$1,6902$1,6953$1,6954$1,7005$1,750
$1,750
RENT COMPS ANALYSIS
  • 6944 Freeboard Way Fort Worth, TX 1
    • 4 beds 2 baths ∙ 1,771 Sqft ∙ Built 2018 4 beds 2 baths ∙ 1,771 Sqft ∙ Built 2018
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,690
    • $0.95
    •  
  • 6265 Spokane Drive Fort Worth, TX 2
    • 4 beds 2 baths ∙ 1,819 Sqft ∙ Built 2018 4 beds 2 baths ∙ 1,819 Sqft ∙ Built 2018
    property image
    LEASED 11/11/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.93
    •  
  • 6320 Sails Street Fort Worth, TX 3
    • 4 beds 2 baths ∙ 1,792 Sqft ∙ Built 2017 4 beds 2 baths ∙ 1,792 Sqft ∙ Built 2017
    property image
    LEASED 02/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.95
    •  
  • 6309 Sails Street Fort Worth, TX 4
    • 4 beds 2 baths ∙ 1,771 Sqft ∙ Built 2017 4 beds 2 baths ∙ 1,771 Sqft ∙ Built 2017
    property image
    LEASED 06/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.96
    •  
  • 6368 Sails Street Fort Worth, TX 5
    • 4 beds 2 baths ∙ 1,819 Sqft ∙ Built 2019 4 beds 2 baths ∙ 1,819 Sqft ∙ Built 2019
    property image
    LEASED 09/06/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.96
    •  
PROPERTY LISTING DETAILS
Jon Clark
Fadal Buchanan & Associatesllc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14418951
Last Updated: 08/22/2020
BESbswy