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6952 Meadow Way Lane Fort Worth, TX 76179

4 Beds 3 Baths 1,942 sqft Built 2006

$230,000

List Price

$1,600

$1.4K - $1.8K

Rent Est.

PROPERTY INFO

December 03, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2006
  • Price/Sqft : $118.43
  • 4 Days on Market
  • MLS # : 14480454
  • Updated Date : 12/04/2020 at 07:02
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,942 sqft
  • Baths : 2 full , 1 half
Listing Agent

Dfw Legacy Group

Listing Agent's Description

Welcome to Parkview Hills! This two story home features all 4 bedrooms upstairs, 2 and a half bathrooms, and two living spaces. Enjoy all new flooring upstairs as well as new wood like vinyl flooring in the kitchen and dining area, and recent interior paint that features a neutral palette. The light and airy kitchen opens into the dining area and offers freshly painted cabinetry with sleek stainless steel appliances. This flexible floor plan has an oversized living room upstairs that can be used as a game room, home office, or workout area. Situated on a corner lot and zoned within Eagle Mountain-Saginaw ISD, this location offers easy access to lakes, hiking trails, and the amenities of Downtown Fort Worth!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • . 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)

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

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
 

$207,000$253,000$230,000

PURCHASE PRICE

$1,440$1,760$1,600

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,600
EXPENSES Loan Payment -$849
Property Tax -$527
Property Insurance -$139
HOA -$13
Property Management Fees -$99
CASH FLOW
-$27

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.

$230,000

PROJECTED PRICE

$1,600

PROJECTED RENT

0.70%

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

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$66,700

INVESTMENT

$66,700

Down Payment
$57,500
Rehab Estimate
$5,750
Closing Costs
$3,450

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$849

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $57,500
Loan Amount $172,500
See What Happens When You Reinvest Cash Flow

3.75

YEARS SAVED

$9,772

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,600

    LIST RENT
  • $0.82

    LIST RENT PER SQFT
  • $1,738

    COMP ESTIMATED VALUE
  • $0.9

    COMP AVG. RENT PER SQFT
Comps Range
$1,550
1$1,5502$1,5953$1,6004$1,7455$1,750
$1,750
RENT COMPS ANALYSIS
  • 6952 Meadow Way Lane Fort Worth, TX 3
    • 4 beds 3 baths ∙ 1,942 Sqft ∙ Built 2006 4 beds 3 baths ∙ 1,942 Sqft ∙ Built 2006
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.82
    •  
  • 6737 Meadow Way Lane Fort Worth, TX 1
    • 3 beds 3 baths ∙ 1,792 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,792 Sqft ∙ Built 2005
    LEASED 03/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.86
    •  
  • 6705 Waterhill Lane Fort Worth, TX 2
    • 3 beds 3 baths ∙ 1,843 Sqft ∙ Built 2004 3 beds 3 baths ∙ 1,843 Sqft ∙ Built 2004
    LEASED 06/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.87
    •  
  • 4913 Water Ridge Lane Fort Worth, TX 4
    • 4 beds 2 baths ∙ 1,968 Sqft ∙ Built 2006 4 beds 2 baths ∙ 1,968 Sqft ∙ Built 2006
    LEASED 06/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,745
    • $0.89
    •  
  • 4905 Creek Ridge Trail Fort Worth, TX 5
    • 4 beds 2 baths ∙ 1,824 Sqft ∙ Built 2004 4 beds 2 baths ∙ 1,824 Sqft ∙ Built 2004
    LEASED 05/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.96
    •  
PROPERTY LISTING DETAILS
Ivana Flex
Dfw Legacy Group
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14480454
Last Updated: 12/04/2020
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