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7309 Little Mohican Drive Fort Worth, TX 76179

5 Beds 4 Baths 3,302 sqft Built 2005

$235,000

List Price

$2,000

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

November 14, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2005
  • Price/Sqft : $71.17
  • 2 Days on Market
  • MLS # : 14471369
  • Updated Date : 11/14/2020 at 14:00
CONSTRUCTION
  • Beds : 5
  • Floor Size : 3,302 sqft
  • Baths : 3 full , 1 half
Listing Agent

Keller Williams Realty

Listing Agent's Description

Bring your handy man or woman! This is a HUGE home for the money, it just needs a little TLC! Great curb appeal with precious front porch. Versatile main space can be living and dining combo or two living areas. Working from home? A separate study off of the front entry allows for privacy. Huge kitchen has a nice island and a breakfast bar, two dining spaces and an extra large pantry! Five large bedrooms upstairs with a jack-and-jill bath shared by two bedrooms, a hall bath, and an oversized master bathroom. Outside is an extra large patio with plenty of room for entertaining. TONS of space for the money. This home is just waiting for a new owner to freshen it up! Sold AS IS. Buyer to verify all information.

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
 

$211,500$258,500$235,000

PURCHASE PRICE

$1,800$2,200$2,000

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,000
EXPENSES Loan Payment -$867
Property Tax -$632
Property Insurance -$218
HOA -$19
Property Management Fees -$99
CASH FLOW
$165

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.

$235,000

PROJECTED PRICE

$2,000

PROJECTED RENT

0.85%

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$12k

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$68,025

INVESTMENT

$68,025

Down Payment
$58,750
Rehab Estimate
$5,750
Closing Costs
$3,525

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% 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 $58,750
Loan Amount $176,250
See What Happens When You Reinvest Cash Flow

7.42

YEARS SAVED

$25,269

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,000

    LIST RENT
  • $0.61

    LIST RENT PER SQFT
  • $2,072

    COMP ESTIMATED VALUE
  • $0.63

    COMP AVG. RENT PER SQFT
Comps Range
$1,775
1$1,7752$1,9003$2,0004$2,0955$2,395
$2,395
RENT COMPS ANALYSIS
  • 7309 Little Mohican Drive Fort Worth, TX 3
    • 5 beds 4 baths ∙ 3,302 Sqft ∙ Built 2005 5 beds 4 baths ∙ 3,302 Sqft ∙ Built 2005
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.61
    •  
  • 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
    property image
    LEASED 01/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,775
    • $0.59
    •  
  • 5833 Deck House Road Fort Worth, TX 2
    • 4 beds 3 baths ∙ 3,049 Sqft ∙ Built 2008 4 beds 3 baths ∙ 3,049 Sqft ∙ Built 2008
    property image
    LEASED 08/30/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.62
    •  
  • 7156 Little Mohican Drive Fort Worth, TX 4
    • 5 beds 3 baths ∙ 3,357 Sqft ∙ Built 2007 5 beds 3 baths ∙ 3,357 Sqft ∙ Built 2007
    property image
    LEASED 10/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,095
    • $0.62
    •  
  • 3201 Dalhart Drive Fort Worth, TX 5
    • 5 beds 4 baths ∙ 3,509 Sqft ∙ Built 2002 5 beds 4 baths ∙ 3,509 Sqft ∙ Built 2002
    property image
    LEASED 07/22/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,395
    • $0.68
    •  
PROPERTY LISTING DETAILS
Robin West
Keller Williams Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14471369
Last Updated: 11/14/2020
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