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7109 Little Mohican Drive Fort Worth, TX 76179

3 Beds 3 Baths 1,945 sqft Built 2006

$234,900

List Price

$1,630

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

October 28, 2020 RECENTLY ADDED
FACTS
  • Built In 2006
  • Price/Sqft : $120.77
  • 7 Days on Market
  • MLS # : 14460972
  • Updated Date : 10/28/2020 at 21:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,945 sqft
  • Baths : 2 full , 1 half
Listing Agent

Ppmg Of Texas Llc

Listing Agent's Description

A beautiful 3BD-2BD-2GA home in Fort Worth! Fantastic living area, Spacious kitchen features ceramic tile flooring, plenty of cabinet space, and granite countertops. Generously sized bedrooms with ample closet storage. Nice fenced in backyard perfect for entertaining! Near Eagle Mountain Lake, Lake Worth, and Willow Creek Park. Easy access to IH 820 & IH 35.

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: Cheyenne Ridge

NeighborhoodNIR Market*CityMarket2010Year20002019110k120k130k140k150k160k170k180k190k200k210k220k230k240kPrice in $104k243k

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

Neighborhood: Cheyenne Ridge

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
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
 

$211,410$258,390$234,900

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 -$867
Property Tax -$538
Property Insurance -$140
Property Management Fees -$99
CASH FLOW
-$14

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.

$234,900

PROJECTED PRICE

$1,630

PROJECTED RENT

0.69%

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$67,999

INVESTMENT

$67,999

Down Payment
$58,725
Rehab Estimate
$5,750
Closing Costs
$3,524

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% 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 $58,725
Loan Amount $176,175
See What Happens When You Reinvest Cash Flow

4.17

YEARS SAVED

$11,099

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
  • $0.84

    LIST RENT PER SQFT
  • $1,726

    COMP ESTIMATED VALUE
  • $0.89

    COMP AVG. RENT PER SQFT
Comps Range
$1,630
1$1,6302$1,6453$1,6954$1,7255$1,835
$1,835
RENT COMPS ANALYSIS
  • 7109 Little Mohican Drive Fort Worth, TX 1
    • 3 beds 3 baths ∙ 1,945 Sqft ∙ Built 2006 3 beds 3 baths ∙ 1,945 Sqft ∙ Built 2006
    • Rent
    • Rent Per SQFT
    •  
    • $1,630
    • $0.84
    •  
  • 7124 Bannock Drive Fort Worth, TX 2
    • 3 beds 3 baths ∙ 2,018 Sqft ∙ Built 2007 3 beds 3 baths ∙ 2,018 Sqft ∙ Built 2007
    LEASED 06/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,645
    • $0.82
    •  
  • 6265 Spokane Drive Fort Worth, TX 3
    • 4 beds 2 baths ∙ 1,819 Sqft ∙ Built 2018 4 beds 2 baths ∙ 1,819 Sqft ∙ Built 2018
    LEASED 11/11/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.93
    •  
  • 7116 Little Mohican Drive Fort Worth, TX 4
    • 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
    •  
  • 7105 Kickapoo Drive Fort Worth, TX 5
    • 4 beds 3 baths ∙ 2,095 Sqft ∙ Built 2014 4 beds 3 baths ∙ 2,095 Sqft ∙ Built 2014
    LEASED 06/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,835
    • $0.88
    •  
PROPERTY LISTING DETAILS
Ashley Ware
Ppmg Of Texas Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14460972
Last Updated: 10/28/2020
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