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7016 Skip Jack Lane Fort Worth, TX 76179

4 Beds 2 Baths 1,757 sqft Built 2018

$242,000

List Price

$1,630

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

January 22, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2018
  • Price/Sqft : $137.73
  • 3 Days on Market
  • MLS # : 14501838
  • Updated Date : 01/23/2021 at 22:35
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,757 sqft
  • Baths : 2 full
Listing Agent

Lilly Garcia Realtors

Listing Agent's Description

STUNNING 1 STORY 4-2-2 barely lived-in DR Horton home. Open concept with large kitchen featuring granite counter-tops and dark wooden cabinets. Bring your picky clients this one, is clean & pretty, ready for a new owner.

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

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
 

$217,800$266,200$242,000

PURCHASE PRICE

$1,467$1,793$1,630

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,630
EXPENSES Loan Payment -$841
Property Tax -$555
Property Insurance -$129
HOA -$33
Property Management Fees -$99
CASH FLOW
-$26

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.

$242,000

PROJECTED PRICE

$1,630

PROJECTED RENT

0.67%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 7.5%
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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$69,880

INVESTMENT

$69,880

Down Payment
$60,500
Rehab Estimate
$5,750
Closing Costs
$3,630

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$841

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $60,500
Loan Amount $181,500
See What Happens When You Reinvest Cash Flow

3.58

YEARS SAVED

$8,084

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,630

    LIST RENT
  • $0.93

    LIST RENT PER SQFT
  • $1,665

    COMP ESTIMATED VALUE
  • $0.95

    COMP AVG. RENT PER SQFT
Comps Range
$1,495
1$1,4952$1,6303$1,7004$1,7005$1,725
$1,725
RENT COMPS ANALYSIS
  • 7016 Skip Jack Lane Fort Worth, TX 2
    • 3 beds 2 baths ∙ 1,757 Sqft ∙ Built 2018 3 beds 2 baths ∙ 1,757 Sqft ∙ Built 2018
    • Rent
    • Rent Per SQFT
    •  
    • $1,630
    • $0.93
    •  
  • 7157 Little Mohican Drive Fort Worth, TX 1
    • 3 beds 2 baths ∙ 1,596 Sqft ∙ Built 2007 3 beds 2 baths ∙ 1,596 Sqft ∙ Built 2007
    LEASED 02/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.94
    •  
  • 6233 Spokane Drive Fort Worth, TX 3
    • 4 beds 2 baths ∙ 1,752 Sqft ∙ Built 2018 4 beds 2 baths ∙ 1,752 Sqft ∙ Built 2018
    LEASED 06/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.97
    •  
  • 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
    LEASED 06/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.96
    •  
  • 7116 Little Mohican Drive Fort Worth, TX 5
    • 4 beds 2 baths ∙ 1,866 Sqft ∙ Built 2014 4 beds 2 baths ∙ 1,866 Sqft ∙ Built 2014
    LEASED 04/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,725
    • $0.92
    •  
PROPERTY LISTING DETAILS
Lillianne Garcia
Lilly Garcia Realtors
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14501838
Last Updated: 01/23/2021
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