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7437 Obsidian Road Fort Worth, TX 76120

3 Beds 2 Baths 1,775 sqft Built 2020

$311,900

List Price

$1,660

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
SINGLE-FAMILY
March 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2020
  • Price/Sqft : $175.72
  • 3 Days on Market
  • MLS # : 14532350
  • Updated Date : 03/12/2021 at 20:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,775 sqft
  • Baths : 2 full
Listing Agent

Lgi Homes

Listing Agent's Description

The Ontario plan is a new one-story home in the charming community of Oak Ridge. This home comes with 3 bedrooms, 2 full baths and a thoughtfully designed open layout. You’ll enjoy a host of impressive, included upgrades in this home such as stainless steel kitchen appliances, spacious granite countertops, designer 42 inch upper kitchen cabinets, luxury flooring and an attached two-car garage with a Wi-Fi-enabled opener. The Ontario showcases a master suite complete with a walk-in closet, as well as a fully fenced backyard, covered patio and front yard landscaping.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: John T. White

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240kPrice in $88k243k

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

Neighborhood: John T. White

NeighborhoodNIR Market*CityMarket2010Year20002019 Q290010001100120013001400150016001700Rent in $8551734

* 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
Lowery Road Elementary School Primary Regular 692 39 5
Handley Middle School Middle Regular 521 42 4
Eastern Hills High School High Regular 1,215 96 2

Lowery Road Elementary School

  • Education Level: Primary
  • # of students: 692
  • # of teachers: 39
5
GreatSchools Rating

Handley Middle School

  • Education Level: Middle
  • # of students: 521
  • # of teachers: 42
4
GreatSchools Rating

Eastern Hills High School

  • Education Level: High
  • # of students: 1,215
  • # of teachers: 96
2
GreatSchools Rating
 

$280,710$343,090$311,900

PURCHASE PRICE

$1,494$1,826$1,660

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,660
EXPENSES Loan Payment -$1,083
Property Tax -$715
Property Insurance -$130
HOA -$25
Property Management Fees -$99
CASH FLOW
-$392

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 10% of earned rent to cover both maintenance and periods of vacancy.

$311,900

PROJECTED PRICE

$1,660

PROJECTED RENT

0.53%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.74%
Appreciation Year (1-5) 7.8%
Maintenance Year (1-5) 3.00%
Vacancy 6.69%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

11530-$8.0k-$6.0k-$4.0k-$2.0k$0.0

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$84,654

INVESTMENT

$84,654

Down Payment
$77,975
Rehab Estimate
$2,000
Closing Costs
$4,679

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 75% down payment or higher enables the proceeds from the asset to cover all costs.

$1,083

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $77,975
Loan Amount $233,925
See What Happens When You Reinvest Cash Flow

0.08

YEARS SAVED

$39

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,660

    LIST RENT
  • $0.94

    LIST RENT PER SQFT
  • $1,677

    COMP ESTIMATED VALUE
  • $0.95

    COMP AVG. RENT PER SQFT
Comps Range
$1,660
1$1,6602$1,6953$1,6954$1,7505$1,750
$1,750
RENT COMPS ANALYSIS
  • 7437 Obsidian Road Fort Worth, TX 1
    • 3 beds 2 baths ∙ 1,775 Sqft ∙ Built 2020 3 beds 2 baths ∙ 1,775 Sqft ∙ Built 2020
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,660
    • $0.94
    •  
  • 7977 Meadow View Trail Fort Worth, TX 2
    • 4 beds 2 baths ∙ 1,872 Sqft ∙ Built 2004 4 beds 2 baths ∙ 1,872 Sqft ∙ Built 2004
    property image
    LEASED 08/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.91
    •  
  • 8013 Sartain Drive Fort Worth, TX 3
    • 3 beds 2 baths ∙ 1,723 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,723 Sqft ∙ Built 2005
    property image
    LEASED 03/07/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.98
    •  
  • 133 Goldeneye Lane Fort Worth, TX 4
    • 3 beds 2 baths ∙ 1,810 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,810 Sqft ∙ Built 2003
    property image
    LEASED 02/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.97
    •  
  • 413 Shadow Grass Avenue Fort Worth, TX 5
    • 4 beds 2 baths ∙ 1,903 Sqft ∙ Built 2003 4 beds 2 baths ∙ 1,903 Sqft ∙ Built 2003
    property image
    LEASED 03/10/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.92
    •  
PROPERTY LISTING DETAILS
Mona Hill
Lgi Homes
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14532350
Last Updated: 03/12/2021
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