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7013 Reliance Street Fort Worth, TX 76179

4 Beds 2 Baths 2,212 sqft Built 2020

$330,000

List Price

$1,800

$1.6K - $2K

Rent Est.

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
February 14, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2020
  • Price/Sqft : $149.19
  • 1 Days on Market
  • MLS # : 14516731
  • Updated Date : 02/13/2021 at 22:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,212 sqft
  • Baths : 2 full
Listing Agent

Century 21 Mike Bowman, Inc.

Listing Agent's Description

CARNEGIE HOMES USA! WOW - What a beauty and so much home for the money. BRAND NEW, ENERGY-EFFICIENT located in the beautiful Talon Hill Community. Estimated April 2021 completion. LAST one so secure this new home now! SINGLE STORY WITH 4 BEDROOMS & A FLEX ROOM that can be formal dining, second living or home office. Split concept with master in back away from other 3 bedrooms. Home has open floor concept, kitchen island, granite countertops, wood cabinets, SS appliances, large master suite with HUGE luxury walkin shower, separate vanities, garden tub, walk in closet. Fireplace included. Stone & brick elevation and MUCH MORE. 5 minutes from Eagle Mountain Lake. See attached standard feature list.

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

Neighborhood: Eagle Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $104k336k

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

Neighborhood: Eagle Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100011001200130014001500160017001800190020002100Rent in $9192171

* 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
Lake Pointe Elementary School Primary Regular 664 35 8
Creekview Middle School Middle Regular 801 47 7
Boswell High School High Regular 1,605 106 7

Lake Pointe Elementary School

  • Education Level: Primary
  • # of students: 664
  • # of teachers: 35
8
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
 

$297,000$363,000$330,000

PURCHASE PRICE

$1,620$1,980$1,800

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,800
EXPENSES Loan Payment -$1,146
Property Tax -$756
Property Insurance -$155
HOA -$33
Property Management Fees -$99
CASH FLOW
-$390

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 10% of earned rent to cover both maintenance and periods of vacancy.

$330,000

PROJECTED PRICE

$1,800

PROJECTED RENT

0.55%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 7.3%
Maintenance Year (1-5) 3.00%
Vacancy 6.93%
Length of Stay Years 2

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$89,450

INVESTMENT

$89,450

Down Payment
$82,500
Rehab Estimate
$2,000
Closing Costs
$4,950

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$1,146

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $82,500
Loan Amount $247,500
See What Happens When You Reinvest Cash Flow

0.17

YEARS SAVED

$90

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,800

    LIST RENT
  • $0.81

    LIST RENT PER SQFT
  • $1,770

    COMP ESTIMATED VALUE
  • $0.8

    COMP AVG. RENT PER SQFT
Comps Range
$1,525
1$1,5252$1,5953$1,6504$1,8005$1,845
$1,845
RENT COMPS ANALYSIS
  • 7013 Reliance Street Fort Worth, TX 4
    • 4 beds 2 baths ∙ 2,212 Sqft ∙ Built 2020 4 beds 2 baths ∙ 2,212 Sqft ∙ Built 2020
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.81
    •  
  • 7109 Little Mohican Drive Fort Worth, TX 1
    • 3 beds 2 baths ∙ 1,945 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,945 Sqft ∙ Built 2006
    LEASED 01/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,525
    • $0.78
    •  
  • 6512 Chalk River Drive Fort Worth, TX 2
    • 4 beds 2 baths ∙ 2,028 Sqft ∙ Built 2004 4 beds 2 baths ∙ 2,028 Sqft ∙ Built 2004
    LEASED 11/13/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.79
    •  
  • 7231 Denver City Drive Fort Worth, TX 3
    • 3 beds 2 baths ∙ 2,117 Sqft ∙ Built 2010 3 beds 2 baths ∙ 2,117 Sqft ∙ Built 2010
    LEASED 02/10/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.78
    •  
  • 7341 Chambers Lane Fort Worth, TX 5
    • 4 beds 2 baths ∙ 2,172 Sqft ∙ Built 2003 4 beds 2 baths ∙ 2,172 Sqft ∙ Built 2003
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,845
    • $0.85
    •  
PROPERTY LISTING DETAILS
Sherri Blasingame
Century 21 Mike Bowman, Inc.
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14516731
Last Updated: 02/13/2021
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