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7324 Wavecrest Way Fort Worth, TX 76179

4 Beds 2 Baths 1,771 sqft Built 2019

$255,000

List Price

$1,500

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

Built 2019 NEW CONSTRUCTION
November 07, 2020 RECENTLY ADDED
FACTS
  • Built In 2019
  • Price/Sqft : $143.99
  • 2 Days on Market
  • MLS # : 14467533
  • Updated Date : 11/07/2020 at 07:56
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,771 sqft
  • Baths : 2 full
Listing Agent

Better Homes & Gardens, Winans

Listing Agent's Description

What a wonderful opportunity to own a home that still has so many new construction warranties available! This 2019 built home is in pristine condition! With upgraded laminate flooring in living room and master, you will find the open concept layout even more desirable. This great home has spacious bedrooms, open living room, eat in kitchen island area, you could easily entertain many guests or accommodate a growing family. This SUPER Large yard has so many possibilities! That’s not just a wide shot photo, it really is a HUGE backyard that can become your very own oasis! If you’re looking to live near Schools, Highways, Walking Trails, Lake, Shopping and much more.. This is it!! We welcome you home!

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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
 

$229,500$280,500$255,000

PURCHASE PRICE

$1,350$1,650$1,500

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,500
EXPENSES Loan Payment -$941
Property Tax -$585
Property Insurance -$130
HOA -$33
Property Management Fees -$99
CASH FLOW
-$287

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 9% of earned rent to cover both maintenance and periods of vacancy.

$255,000

PROJECTED PRICE

$1,500

PROJECTED RENT

0.59%

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) 3.00%
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-$6.0k-$4.0k-$2.0k$0.0$2.0k

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$69,575

INVESTMENT

$69,575

Down Payment
$63,750
Rehab Estimate
$2,000
Closing Costs
$3,825

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$941

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $63,750
Loan Amount $191,250
See What Happens When You Reinvest Cash Flow

0.33

YEARS SAVED

$304

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,500

    LIST RENT
  • $0.85

    LIST RENT PER SQFT
  • $1,682

    COMP ESTIMATED VALUE
  • $0.95

    COMP AVG. RENT PER SQFT
Comps Range
$1,495
1$1,4952$1,4953$1,5004$1,5955$1,725
$1,725
RENT COMPS ANALYSIS
  • 7324 Wavecrest Way Fort Worth, TX 3
    • 4 beds 2 baths ∙ 1,771 Sqft ∙ Built 2019 4 beds 2 baths ∙ 1,771 Sqft ∙ Built 2019
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.85
    •  
  • 7157 Little Mohican Drive Fort Worth, TX 1
    • 3 beds 2 baths ∙ 1,596 Sqft ∙ Built 2007 3 beds 2 baths ∙ 1,596 Sqft ∙ Built 2007
    LEASED 02/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.94
    •  
  • 6229 Winnebago Court Fort Worth, TX 2
    • 3 beds 2 baths ∙ 1,595 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,595 Sqft ∙ Built 2005
    LEASED 02/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.94
    •  
  • 6341 Apalachee Trail Fort Worth, TX 4
    • 3 beds 2 baths ∙ 1,703 Sqft ∙ Built 2014 3 beds 2 baths ∙ 1,703 Sqft ∙ Built 2014
    LEASED 04/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.94
    •  
  • 6348 Eagle Lake Court Fort Worth, TX 5
    • 3 beds 2 baths ∙ 1,765 Sqft ∙ Built 2017 3 beds 2 baths ∙ 1,765 Sqft ∙ Built 2017
    LEASED 07/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,725
    • $0.98
    •  
PROPERTY LISTING DETAILS
Kathryn Macdonald
Better Homes & Gardens, Winans
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14467533
Last Updated: 11/07/2020
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