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750 Finney Road Weatherford, TX 76085

4 Beds 3 Baths 2,613 sqft Built 2020

$425,900

List Price

$2,520

$2.3K - $2.8K

Rent Est.

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
November 20, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2020
  • Price/Sqft : $162.99
  • 3 Days on Market
  • MLS # : 14474810
  • Updated Date : 11/20/2020 at 15:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,613 sqft
  • Baths : 3 full
Listing Agent

Homesusa.com

Listing Agent's Description

MLS# 14474810 - Built by Doug Parr Custom Homes - January completion! ~ The Harper Plan is 2613 SF of living space. It has 4 bedrooms, 3 full bathrooms and a study. It boasts a large kitchen with an oversized island, custom cabinets and has granite throughout. Come enjoy the peaceful country side in front of the outdoor fireplace on your back patio. Photos are of a previous built home with the same floor plan so colors and selections will vary...

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: 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
 

$383,310$468,490$425,900

PURCHASE PRICE

$2,268$2,772$2,520

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,520
EXPENSES Loan Payment -$1,571
Property Tax -$768
Property Insurance -$178
Property Management Fees -$99
CASH FLOW
-$96

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.

$425,900

PROJECTED PRICE

$2,520

PROJECTED RENT

0.59%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 7.0%
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$200k$400k$600k$800k$1.0M$1.2M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$114,864

INVESTMENT

$114,864

Down Payment
$106,475
Rehab Estimate
$2,000
Closing Costs
$6,389

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,571

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $106,475
Loan Amount $319,425
See What Happens When You Reinvest Cash Flow

3.58

YEARS SAVED

$17,116

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,520

    LIST RENT
  • $0.96

    LIST RENT PER SQFT
  • $2,508

    COMP ESTIMATED VALUE
  • $0.96

    COMP AVG. RENT PER SQFT
Comps Range
$2,520
1$2,5202$2,550
$2,550
RENT COMPS ANALYSIS
  • 750 Finney Road Weatherford, TX 1
    • 4 beds 3 baths ∙ 2,613 Sqft ∙ Built 2020 4 beds 3 baths ∙ 2,613 Sqft ∙ Built 2020
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,520
    • $0.96
    •  
  • 116 Sablewood Court Azle, TX 2
    • 4 beds 3 baths ∙ 2,654 Sqft ∙ Built 2016 4 beds 3 baths ∙ 2,654 Sqft ∙ Built 2016
    property image
    LEASED 11/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,550
    • $0.96
    •  
PROPERTY LISTING DETAILS
Ben Caballero
Homesusa.com
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14474810
Last Updated: 11/20/2020
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