Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

7500 Mayfair Circle Fort Worth, TX 76123

4 Beds 2 Baths 1,847 sqft Built 1985

$185,000

List Price

$1,460

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

October 31, 2020 RECENTLY ADDED
FACTS
  • Built In 1985
  • Price/Sqft : $100.16
  • 4 Days on Market
  • MLS # : 14463451
  • Updated Date : 10/31/2020 at 11:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,847 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Arlington

Listing Agent's Description

HOME IN CORNER OF CUL-DE-SAC: 4 bedrooms, 2 baths, 2 living areas, 2 dining areas, 2 pantries. Large laundry room. Master bedroom has bay window and huge walk-in closet . Master bath has dual sinks. Home has plenty of storage: coat closet, hall storage, master bath linen closet. Kitchen has tons of cabinets and plenty of counter-top space. A few minor repairs still needed - priced with repairs considered. Save a lot by doing a little work. Buyer responsibility to verify all information in listing. Flooring and paint allowance negotiable. Owner left to allow new owner to choose flooring. GREAT FIRST HOME OR RENTAL INVESTMENT !!! SPECIAL FINANCING AVAILABLE.

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: Meadow Creek

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240kPrice in $88k243k

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

Neighborhood: Meadow Creek

NeighborhoodNIR Market*CityMarket2010Year20002019 Q290010001100120013001400150016001700Rent in $8661734

* 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
Mary Harris Intermediate School Primary Regular 668 36 3
Crowley Middle School Middle Regular 615 45 4
North Crowley High School High Regular 2,442 148 4

Mary Harris Intermediate School

  • Education Level: Primary
  • # of students: 668
  • # of teachers: 36
3
GreatSchools Rating

Crowley Middle School

  • Education Level: Middle
  • # of students: 615
  • # of teachers: 45
4
GreatSchools Rating

North Crowley High School

  • Education Level: High
  • # of students: 2,442
  • # of teachers: 148
4
GreatSchools Rating
 

$166,500$203,500$185,000

PURCHASE PRICE

$1,314$1,606$1,460

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,460
EXPENSES Loan Payment -$683
Property Tax -$435
Property Insurance -$134
Property Management Fees -$99
CASH FLOW
$110

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.

$185,000

PROJECTED PRICE

$1,460

PROJECTED RENT

0.79%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.74%
Appreciation Year (1-5) 12.3%
Maintenance Year (1-5) 8.00%
Vacancy 6.69%
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$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$54,775

INVESTMENT

$54,775

Down Payment
$46,250
Rehab Estimate
$5,750
Closing Costs
$2,775

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$683

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $46,250
Loan Amount $138,750
See What Happens When You Reinvest Cash Flow

7.17

YEARS SAVED

$18,687

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,460

    LIST RENT
  • $0.79

    LIST RENT PER SQFT
  • $1,547

    COMP ESTIMATED VALUE
  • $0.84

    COMP AVG. RENT PER SQFT
Comps Range
$1,460
1$1,4602$1,4753$1,5004$1,5505$1,650
$1,650
RENT COMPS ANALYSIS
  • 7500 Mayfair Circle Fort Worth, TX 1
    • 4 beds 2 baths ∙ 1,847 Sqft ∙ Built 1985 4 beds 2 baths ∙ 1,847 Sqft ∙ Built 1985
    • Rent
    • Rent Per SQFT
    •  
    • $1,460
    • $0.79
    •  
  • 2713 Galemeadow Drive Fort Worth, TX 2
    • 3 beds 2 baths ∙ 1,783 Sqft ∙ Built 1986 3 beds 2 baths ∙ 1,783 Sqft ∙ Built 1986
    LEASED 04/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,475
    • $0.83
    •  
  • 7508 Arbor Drive Fort Worth, TX 3
    • 4 beds 2 baths ∙ 1,783 Sqft ∙ Built 1985 4 beds 2 baths ∙ 1,783 Sqft ∙ Built 1985
    LEASED 10/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.84
    •  
  • 2716 Clovermeadow Drive Fort Worth, TX 4
    • 3 beds 3 baths ∙ 1,778 Sqft ∙ Built 1989 3 beds 3 baths ∙ 1,778 Sqft ∙ Built 1989
    LEASED 06/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.87
    •  
  • 2409 Hawkwood Court Fort Worth, TX 5
    • 3 beds 2 baths ∙ 2,039 Sqft ∙ Built 2005 3 beds 2 baths ∙ 2,039 Sqft ∙ Built 2005
    LEASED 06/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.81
    •  
PROPERTY LISTING DETAILS
Michael Mccarty
Keller Williams Arlington
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14463451
Last Updated: 10/31/2020
BESbswy