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700 Devontree Court Fort Worth, TX 76052

4 Beds 3 Baths 2,878 sqft Built 2004

$249,900

List Price

$1,890

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

December 04, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2004
  • Price/Sqft : $86.83
  • 3 Days on Market
  • MLS # : 14473788
  • Updated Date : 12/05/2020 at 12:11
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,878 sqft
  • Baths : 2 full , 1 half
Listing Agent

Exp Realty Llc

Listing Agent's Description

Two-story home in an ideal neighborhood, conveniently located near schools. Just a short drive to shopping, dining, airports, & downtown. Home has a functional floor plan perfect for entertaining friends & family. Office located just off inviting entryway. Living room with fireplace opens to dining area and Kitchen. Kitchen features a breakfast bar, island, and tons of counter space. Master suite with garden tub, separate shower, dual sinks, & walk-in closet located downstairs. Spacious secondary bedrooms located upstairs. Large Game room area upstairs can be used as flex space. ** Home is priced with flooring and paint in mind**. No HOA

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: Dorado Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280kPrice in $102k281k

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

Neighborhood: Dorado Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2120013001400150016001700180019002000Rent in $11262022

* 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
Carl E. Schluter Elementary School Primary Regular 524 33 7
Chisholm Trail Middle School Middle Regular 899 64 7
Byron Nelson High School High Regular 2,552 147 8

Carl E. Schluter Elementary School

  • Education Level: Primary
  • # of students: 524
  • # of teachers: 33
7
GreatSchools Rating

Chisholm Trail Middle School

  • Education Level: Middle
  • # of students: 899
  • # of teachers: 64
7
GreatSchools Rating

Byron Nelson High School

  • Education Level: High
  • # of students: 2,552
  • # of teachers: 147
8
GreatSchools Rating
 

$224,910$274,890$249,900

PURCHASE PRICE

$1,701$2,079$1,890

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,890
EXPENSES Loan Payment -$922
Property Tax -$632
Property Insurance -$194
Property Management Fees -$99
CASH FLOW
$44

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.

$249,900

PROJECTED PRICE

$1,890

PROJECTED RENT

0.76%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 7.3%
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-$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$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$71,974

INVESTMENT

$71,974

Down Payment
$62,475
Rehab Estimate
$5,750
Closing Costs
$3,749

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$922

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $62,475
Loan Amount $187,425
See What Happens When You Reinvest Cash Flow

5.08

YEARS SAVED

$15,420

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,890

    LIST RENT
  • $0.66

    LIST RENT PER SQFT
  • $1,899

    COMP ESTIMATED VALUE
  • $0.66

    COMP AVG. RENT PER SQFT
Comps Range
$1,850
1$1,8502$1,8903$1,9504$1,9505$2,000
$2,000
RENT COMPS ANALYSIS
  • 700 Devontree Court Fort Worth, TX 2
    • 4 beds 3 baths ∙ 2,878 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,878 Sqft ∙ Built 2004
    • Rent
    • Rent Per SQFT
    •  
    • $1,890
    • $0.66
    •  
  • 10444 Turning Leaf Trail Fort Worth, TX 1
    • 4 beds 3 baths ∙ 2,929 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,929 Sqft ∙ Built 2005
    LEASED 11/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.63
    •  
  • 10401 Hideaway Trail Fort Worth, TX 3
    • 4 beds 3 baths ∙ 3,038 Sqft ∙ Built 2005 4 beds 3 baths ∙ 3,038 Sqft ∙ Built 2005
    LEASED 07/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.64
    •  
  • 10512 Turning Leaf Trail Fort Worth, TX 4
    • 4 beds 3 baths ∙ 3,045 Sqft ∙ Built 2005 4 beds 3 baths ∙ 3,045 Sqft ∙ Built 2005
    LEASED 11/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.64
    •  
  • 360 Emerald Creek Drive Fort Worth, TX 5
    • 5 beds 4 baths ∙ 2,740 Sqft ∙ Built 2017 5 beds 4 baths ∙ 2,740 Sqft ∙ Built 2017
    LEASED 08/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.73
    •  
PROPERTY LISTING DETAILS
Jeremy Smith
Exp Realty Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14473788
Last Updated: 12/05/2020
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