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7228 Wavecrest Way Fort Worth, TX 76179

3 Beds 3 Baths 2,090 sqft Built 2018

$265,000

List Price

$1,810

$1.6K - $2K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 25, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2018
  • Price/Sqft : $126.79
  • 4 Days on Market
  • MLS # : 14538457
  • Updated Date : 03/26/2021 at 12:41
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,090 sqft
  • Baths : 2 full , 1 half
Listing Agent

Rogers Healy And Associates

Listing Agent's Description

OFFER DEADLINE SUNDAY AT 5PM! Come see this two story beauty before she's gone! Front flex room off the entry. Laundry is off of entry with access to garage. Kitchen has a walk-in pantry and has been updated with herringbone tile backsplash, gray cabinet and gold hardware. Seating in breakfast nook and along the counter with barstool space. Kitchen opens to the living room with great natural light. Downstairs has a half bathroom and the master suite. Upstairs has an open flex space. Two bedrooms share a full bathroom upstairs as well. The backyard has a covered patio and room for babies (and fur babies) to comfortably run and play!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • . 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)

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
 

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

PURCHASE PRICE

$1,629$1,991$1,810

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,810
EXPENSES Loan Payment -$920
Property Tax -$607
Property Insurance -$148
HOA -$33
Property Management Fees -$99
CASH FLOW
$2

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

$1,810

PROJECTED RENT

0.68%

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$900k

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$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 60% 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

4.25

YEARS SAVED

$10,722

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,810

    LIST RENT
  • $0.87

    LIST RENT PER SQFT
  • $1,923

    COMP ESTIMATED VALUE
  • $0.92

    COMP AVG. RENT PER SQFT
Comps Range
$1,750
1$1,7502$1,8103$1,8354$1,9005$1,900
$1,900
RENT COMPS ANALYSIS
  • 7228 Wavecrest Way Fort Worth, TX 2
    • 3 beds 3 baths ∙ 2,090 Sqft ∙ Built 2018 3 beds 3 baths ∙ 2,090 Sqft ∙ Built 2018
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,810
    • $0.87
    •  
  • 6252 Thunderwing Drive Fort Worth, TX 1
    • 4 beds 2 baths ∙ 1,913 Sqft ∙ Built 2020 4 beds 2 baths ∙ 1,913 Sqft ∙ Built 2020
    property image
    LEASED 04/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.91
    •  
  • 7105 Kickapoo Drive Fort Worth, TX 3
    • 4 beds 3 baths ∙ 2,095 Sqft ∙ Built 2014 4 beds 3 baths ∙ 2,095 Sqft ∙ Built 2014
    property image
    LEASED 06/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,835
    • $0.88
    •  
  • 6356 Eagle Pier Way Fort Worth, TX 4
    • 3 beds 3 baths ∙ 2,002 Sqft ∙ Built 2017 3 beds 3 baths ∙ 2,002 Sqft ∙ Built 2017
    property image
    LEASED 09/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.95
    •  
  • 6364 Redeagle Creek Drive Fort Worth, TX 5
    • 3 beds 2 baths ∙ 2,029 Sqft ∙ Built 2008 3 beds 2 baths ∙ 2,029 Sqft ∙ Built 2008
    property image
    LEASED 02/12/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.94
    •  
PROPERTY LISTING DETAILS
Danielle Doty
Rogers Healy And Associates
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14538457
Last Updated: 03/26/2021
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