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7357 Comer Lane Weatherford, TX 76085

4 Beds 3 Baths 2,955 sqft Built 1996

$564,900

List Price

$2,080

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

February 12, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1996
  • Price/Sqft : $191.17
  • 3 Days on Market
  • MLS # : 14517816
  • Updated Date : 02/13/2021 at 10:14
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,955 sqft
  • Baths : 2 full , 1 half
Listing Agent

1st Choice Associates

Listing Agent's Description

***RARE FIND*** 5+ acres, 2 gated pastures, and loafing shed. Picturesque Colonial Farmhouse set elevated with a a beautiful view. Grand foyer entrance, with 19ft ceilings, and a beautiful center staircase. A full wall of energy efficient Paella windows with french doors to match. Breathtaking view of the land. Hand scraped flooring. A true host delight complete with a large kitchen with granite throughout. Maplewood cabinets, large kitchen island, and double ovens. *Back to those windows, large sunrooms upstairs and downstairs with incredible views matching the light, setting, and flow of this land. The details are are distinct, and stay true to form. Come experience this home's charm.

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: 76085

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260kPrice in $104k269k

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

Zip Code: 76085

ZipNIR Market*CityMarket2010Year20002019 Q2115012001250130013501400145015001550160016501700Rent in $11081734

* 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
Cross Timbers Elementary School Primary Regular 509 30 7
Forte Junior High School Middle Regular 448 28 5
Azle High School High Regular 1,742 107 7

Cross Timbers Elementary School

  • Education Level: Primary
  • # of students: 509
  • # of teachers: 30
7
GreatSchools Rating

Forte Junior High School

  • Education Level: Middle
  • # of students: 448
  • # of teachers: 28
5
GreatSchools Rating

Azle High School

  • Education Level: High
  • # of students: 1,742
  • # of teachers: 107
7
GreatSchools Rating
 

$508,410$621,390$564,900

PURCHASE PRICE

$1,872$2,288$2,080

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,080
EXPENSES Loan Payment -$1,962
Property Tax -$1,202
Property Insurance -$198
Property Management Fees -$99
CASH FLOW
-$1,381

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.

$564,900

PROJECTED PRICE

$2,080

PROJECTED RENT

0.37%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 7.0%
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$1.0M$1.2M$1.4M$1.6M

PROJECTED ANNUAL CASH FLOW

11530-$25k-$20k-$15k-$10k-$5.0k$0.0

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$155,449

INVESTMENT

$155,449

Down Payment
$141,225
Rehab Estimate
$5,750
Closing Costs
$8,474

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 100% down payment or higher enables the proceeds from the asset to cover all costs.

$1,962

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $141,225
Loan Amount $423,675
See What Happens When You Reinvest Cash Flow

-0.33

YEARS SAVED

$1,553

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,080

    LIST RENT
  • $0.7

    LIST RENT PER SQFT
  • $2,837

    COMP ESTIMATED VALUE
  • $0.96

    COMP AVG. RENT PER SQFT
Comps Range
$2,080
1$2,0802$2,550
$2,550
RENT COMPS ANALYSIS
  • 7357 Comer Lane Weatherford, TX 1
    • 4 beds 3 baths ∙ 2,955 Sqft ∙ Built 1996 4 beds 3 baths ∙ 2,955 Sqft ∙ Built 1996
    • Rent
    • Rent Per SQFT
    •  
    • $2,080
    • $0.70
    •  
  • 116 Sablewood Court Azle, TX 2
    • 4 beds 3 baths ∙ 2,654 Sqft ∙ Built 2016 4 beds 3 baths ∙ 2,654 Sqft ∙ Built 2016
    LEASED 11/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,550
    • $0.96
    •  
PROPERTY LISTING DETAILS
Marlene Bone
1st Choice Associates
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14517816
Last Updated: 02/13/2021
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