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7153 Little Mohican Drive Fort Worth, TX 76179

4 Beds 3 Baths 3,001 sqft Built 2007

$265,000

List Price

$1,900

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

February 05, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2007
  • Price/Sqft : $88.30
  • 3 Days on Market
  • MLS # : 14513316
  • Updated Date : 02/05/2021 at 16:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,001 sqft
  • Baths : 2 full , 1 half
Listing Agent

Jp And Associates Southlake

Listing Agent's Description

Amazingly spacious home with fresh updates! New roof, new solar screens,new carpet,newer HVAC and so much ROOM! Very open floor plan leads in from a nice foyer into a formal living and dining.Walk through the large living room w wood burning fireplace, light and bright throughout. Dining area or breakfast space, gourmet kitchen with island has bar seating.Stainless steel appliances,lovely cabinetry and lots of counter space.HUGE pantry with shelves galore! Every bedroom is HUGE with walk in closets.Master bedroom has 2 walk in closets,en suite bathroom with makeup vanity and garden tub.Spacious game room and wide hallways.Great location,close to shopping,dining,and lake recreation.Welcome home!

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

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
 

$238,500$291,500$265,000

PURCHASE PRICE

$1,710$2,090$1,900

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,900
EXPENSES Loan Payment -$920
Property Tax -$607
Property Insurance -$201
HOA -$21
Property Management Fees -$99
CASH FLOW
$52

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.

$265,000

PROJECTED PRICE

$1,900

PROJECTED RENT

0.72%

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$200k$400k$600k$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$75,975

INVESTMENT

$75,975

Down Payment
$66,250
Rehab Estimate
$5,750
Closing Costs
$3,975

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$920

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $66,250
Loan Amount $198,750
See What Happens When You Reinvest Cash Flow

5.08

YEARS SAVED

$13,948

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,900

    LIST RENT
  • $0.63

    LIST RENT PER SQFT
  • $1,943

    COMP ESTIMATED VALUE
  • $0.65

    COMP AVG. RENT PER SQFT
Comps Range
$1,775
1$1,7752$1,8953$1,9004$1,9005$2,150
$2,150
RENT COMPS ANALYSIS
  • 7153 Little Mohican Drive Fort Worth, TX 4
    • 4 beds 3 baths ∙ 3,001 Sqft ∙ Built 2007 4 beds 3 baths ∙ 3,001 Sqft ∙ Built 2007
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.63
    •  
  • 6348 Apalachee Trail Fort Worth, TX 1
    • 4 beds 4 baths ∙ 3,007 Sqft ∙ Built 2007 4 beds 4 baths ∙ 3,007 Sqft ∙ Built 2007
    LEASED 01/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,775
    • $0.59
    •  
  • 7424 Innisbrook Lane Fort Worth, TX 2
    • 4 beds 3 baths ∙ 2,678 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,678 Sqft ∙ Built 2006
    LEASED 12/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.71
    •  
  • 5833 Deck House Road Fort Worth, TX 3
    • 4 beds 3 baths ∙ 3,049 Sqft ∙ Built 2008 4 beds 3 baths ∙ 3,049 Sqft ∙ Built 2008
    LEASED 08/30/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.62
    •  
  • 6672 Cascade Canyon Trail Fort Worth, TX 5
    • 5 beds 5 baths ∙ 3,189 Sqft ∙ Built 2006 5 beds 5 baths ∙ 3,189 Sqft ∙ Built 2006
    LEASED 11/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $0.67
    •  
PROPERTY LISTING DETAILS
Amy Steele
Jp And Associates Southlake
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14513316
Last Updated: 02/05/2021
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