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744 Riverflat Drive Fort Worth, TX 76179

3 Beds 2 Baths 1,884 sqft Built 2005

$235,000

List Price

$1,710

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 14, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2005
  • Price/Sqft : $124.73
  • 1 Days on Market
  • MLS # : 14528316
  • Updated Date : 03/13/2021 at 19:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,884 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Realty Dpr

Listing Agent's Description

Adorable, updated single story offers 3 bedrooms, 2 baths & a great open layout! Beautiful wood-look laminate & updated light fixtures throughout! Cozy family room with wood-burning fireplace flows into family room & eat-in kitchen! Kitchen has been updated to include beautiful white cabinets, & SS appliances! Master bedroom offers ensuite bath with double sinks, tub show combo! Spacious Mbedroom with master closet organization system. Wonderful community with pool & playground! Another fun park is willow creek and farmers market, paw park, and softball field. Roof replaced July 2020. AC replaced in 2018. Trex patio decking. Fridge, ring dbell, nest stay with the property. Showings start Saturday at 5 pm.

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

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
Remington Point Elementary School Primary Regular 637 37 5
Ed Willkie Middle School Middle Regular 862 53 5
Chisholm Trail High School High Unknown NA

Remington Point Elementary School

  • Education Level: Primary
  • # of students: 637
  • # of teachers: 37
5
GreatSchools Rating

Ed Willkie Middle School

  • Education Level: Middle
  • # of students: 862
  • # of teachers: 53
5
GreatSchools Rating

Chisholm Trail High School

  • Education Level: High
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

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

PURCHASE PRICE

$1,539$1,881$1,710

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,710
EXPENSES Loan Payment -$816
Property Tax -$539
Property Insurance -$136
HOA -$30
Property Management Fees -$99
CASH FLOW
$90

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

$1,710

PROJECTED RENT

0.73%

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

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.

$816

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $58,750
Loan Amount $176,250
See What Happens When You Reinvest Cash Flow

6.08

YEARS SAVED

$16,421

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,710

    LIST RENT
  • $0.91

    LIST RENT PER SQFT
  • $1,705

    COMP ESTIMATED VALUE
  • $0.91

    COMP AVG. RENT PER SQFT
Comps Range
$1,600
1$1,6002$1,6453$1,6504$1,7105$1,750
$1,750
RENT COMPS ANALYSIS
  • 744 Riverflat Drive Fort Worth, TX 4
    • 3 beds 2 baths ∙ 1,884 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,884 Sqft ∙ Built 2005
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,710
    • $0.91
    •  
  • 1016 Mosaic Drive Fort Worth, TX 1
    • 3 beds 2 baths ∙ 1,868 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,868 Sqft ∙ Built 2006
    property image
    LEASED 01/09/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.86
    •  
  • 849 Fox Hunt Trail Fort Worth, TX 2
    • 3 beds 2 baths ∙ 1,734 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,734 Sqft ∙ Built 2002
    property image
    LEASED 09/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,645
    • $0.95
    •  
  • 957 Stone Chapel Way Fort Worth, TX 3
    • 3 beds 2 baths ∙ 1,868 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,868 Sqft ∙ Built 2004
    property image
    LEASED 08/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.88
    •  
  • 832 Cats Eye Drive Fort Worth, TX 5
    • 3 beds 2 baths ∙ 1,887 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,887 Sqft ∙ Built 2006
    property image
    LEASED 11/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.93
    •  
PROPERTY LISTING DETAILS
Kelly Smith-mckinney
Keller Williams Realty Dpr
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14528316
Last Updated: 03/13/2021
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