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7413 Bear Lake Drive Fort Worth, TX 76137

4 Beds 3 Baths 1,987 sqft Built 1991

INVESTimate

$260,000

List Price

$1,690

$1,521 - $1,859

Rent Est.

$281,892  ( +8.42%)   1 YR EST. FORECAST

PROPERTY INFO

August 20, 2020 RECENTLY ADDED
FACTS
  • Built In 1991
  • Price/Sqft : $130.85
  • 7 Days on Market
  • MLS # : 14415220
  • Updated Date : 08/20/2020 at 22:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,987 sqft
  • Baths : 2 full , 1 half
Listing Agent

First Funding Group

Listing Agent's Description

Professionally UPDATED home in a nice quiet neighborhood. House is read to go! Updated kitchen, bathrooms, flooring, paint and fixtures. Foundation has also been addressed with minor adjustments by reputable foundation company. Transferable warranty available for new buyer. In addition the HVAC ac & heating system was replaced in 2018. Paperwork available upon request. Home is 10 minutes to downtown Fort Worth for an easy commute. Shopping, parks, schools and major roads are close by as well. Good property for the price. Set your appointment today.

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: Park Glen

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $104k336k

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

Neighborhood: Park Glen

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100011001200130014001500160017001800190020002100Rent in $9192171

* 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
Parkwood Hill Intermediate School Primary Regular 1,070 57 8
Hillwood Middle School Middle Regular 1,087 65 8
Central High School High Regular 2,573 140 8

Parkwood Hill Intermediate School

  • Education Level: Primary
  • # of students: 1,070
  • # of teachers: 57
8
GreatSchools Rating

Hillwood Middle School

  • Education Level: Middle
  • # of students: 1,087
  • # of teachers: 65
8
GreatSchools Rating

Central High School

  • Education Level: High
  • # of students: 2,573
  • # of teachers: 140
8
GreatSchools Rating
 

$234,000$286,000$260,000

PURCHASE PRICE

$1,521$1,859$1,690

RENT

DOWN PAYMENT
FINANCING

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-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,690
EXPENSES Loan Payment -$959
Property Tax -$596
Property Insurance -$142
HOA -$6
Property Management Fees -$99
CASH FLOW
-$112

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 15% of earned rent to cover both maintenance and periods of vacancy.

$260,000

PROJECTED PRICE

$1,690

PROJECTED RENT

0.65%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 8.42%
Maintenance Year (1-5) 8.00%
Vacancy 6.93%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$74,650

INVESTMENT

$74,650

Down Payment
$65,000
Rehab Estimate
$5,750
Closing Costs
$3,900

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$959

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $65,000
Loan Amount $195,000
See What Happens When You Reinvest Cash Flow

2.42

YEARS SAVED

$5,689

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,690

    LIST RENT
  • $0.85

    LIST RENT PER SQFT
  • $1,679

    COMP ESTIMATED VALUE
  • $0.85

    COMP AVG. RENT PER SQFT
Comps Range
$1,595
1$1,5952$1,6903$1,7004$1,7255$1,825
$1,825
RENT COMPS ANALYSIS
  • 7413 Bear Lake Drive Fort Worth, TX 2
    • 4 beds 3 baths ∙ 1,987 Sqft ∙ Built 1991 4 beds 3 baths ∙ 1,987 Sqft ∙ Built 1991
    • Rent
    • Rent Per SQFT
    •  
    • $1,690
    • $0.85
    •  
  • 7224 Lindentree Lane Fort Worth, TX 1
    • 3 beds 2 baths ∙ 1,875 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,875 Sqft ∙ Built 2005
    LEASED 11/14/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.85
    •  
  • 4821 Great Divide Drive Fort Worth, TX 3
    • 4 beds 3 baths ∙ 2,080 Sqft ∙ Built 1995 4 beds 3 baths ∙ 2,080 Sqft ∙ Built 1995
    LEASED 06/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.82
    •  
  • 5333 Grand Mesa Drive Fort Worth, TX 4
    • 4 beds 2 baths ∙ 2,103 Sqft ∙ Built 1989 4 beds 2 baths ∙ 2,103 Sqft ∙ Built 1989
    LEASED 01/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,725
    • $0.82
    •  
  • 5321 Stillwater Drive Fort Worth, TX 5
    • 4 beds 2 baths ∙ 2,060 Sqft ∙ Built 1997 4 beds 2 baths ∙ 2,060 Sqft ∙ Built 1997
    LEASED 09/11/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,825
    • $0.89
    •  
PROPERTY LISTING DETAILS
Clayton Gumm
First Funding Group
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14415220
Last Updated: 08/20/2020
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