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7129 Wavecrest Way Fort Worth, TX 76179

4 Beds 2 Baths 1,819 sqft Built 2018

$240,000

List Price

$1,740

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

November 06, 2020 RECENTLY ADDED
FACTS
  • Built In 2018
  • Price/Sqft : $131.94
  • 3 Days on Market
  • MLS # : 14465603
  • Updated Date : 11/07/2020 at 15:37
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,819 sqft
  • Baths : 2 full
Listing Agent

Coldwell Banker Realty Frisco

Listing Agent's Description

You will love coming home to this stunning and nearly brand new single story residence gently nestled within the highly desirable Villages of Eagle Mountain community with a lovely pool, park, pond, jogging trails and excellent Eagle Mt-Saginaw schools. The expansive open concept floorplan is opulently spacious and flows effortlessly boasting a flex space upon entrance that makes a perfect study, 2nd living, playroom or even 5th bedroom when needed. Chef and entertainer's delight kitchen comes equipped with gas range & gorgeous cabinetry, and opens to dining and living areas - making it a favorite gathering place for all! High ceilings and abundance of windows fill the space with natural light. Covered patio!

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

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
 

$216,000$264,000$240,000

PURCHASE PRICE

$1,566$1,914$1,740

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,740
EXPENSES Loan Payment -$886
Property Tax -$550
Property Insurance -$132
HOA -$33
Property Management Fees -$99
CASH FLOW
$40

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.

$240,000

PROJECTED PRICE

$1,740

PROJECTED RENT

0.73%

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-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$69,350

INVESTMENT

$69,350

Down Payment
$60,000
Rehab Estimate
$5,750
Closing Costs
$3,600

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$886

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $60,000
Loan Amount $180,000
See What Happens When You Reinvest Cash Flow

5.25

YEARS SAVED

$15,480

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,740

    LIST RENT
  • $0.96

    LIST RENT PER SQFT
  • $1,737

    COMP ESTIMATED VALUE
  • $0.96

    COMP AVG. RENT PER SQFT
Comps Range
$1,695
1$1,6952$1,6953$1,7004$1,7405$1,745
$1,745
RENT COMPS ANALYSIS
  • 7129 Wavecrest Way Fort Worth, TX 4
    • 4 beds 2 baths ∙ 1,819 Sqft ∙ Built 2018 4 beds 2 baths ∙ 1,819 Sqft ∙ Built 2018
    • Rent
    • Rent Per SQFT
    •  
    • $1,740
    • $0.96
    •  
  • 6265 Spokane Drive Fort Worth, TX 1
    • 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
    •  
  • 6320 Sails Street Fort Worth, TX 2
    • 4 beds 2 baths ∙ 1,792 Sqft ∙ Built 2017 4 beds 2 baths ∙ 1,792 Sqft ∙ Built 2017
    LEASED 02/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.95
    •  
  • 6309 Sails Street Fort Worth, TX 3
    • 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
    •  
  • 6920 Freeboard Way Fort Worth, TX 5
    • 4 beds 2 baths ∙ 1,772 Sqft ∙ Built 2018 4 beds 2 baths ∙ 1,772 Sqft ∙ Built 2018
    LEASED 08/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,745
    • $0.98
    •  
PROPERTY LISTING DETAILS
Anastasia Riley
Coldwell Banker Realty Frisco
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14465603
Last Updated: 11/07/2020
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