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7504 Mayfair Circle Fort Worth, TX 76123

4 Beds 3 Baths 2,272 sqft Built 1985

$224,900

List Price

$1,820

$1.6K - $2K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 14, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1985
  • Price/Sqft : $98.99
  • 1 Days on Market
  • MLS # : 14528687
  • Updated Date : 03/13/2021 at 14:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,272 sqft
  • Baths : 2 full , 1 half
Listing Agent

Keller Williams Urban Dallas

Listing Agent's Description

This spacious 4 bedroom home has it all! Enormous living area with 12 foot vaulted ceilings, Great bar area for entertaining and second living area with wood burning fireplace! Home is situated on private quiet cul-de-sac. Roof and HVAC 3 years old. Less than 5 miles from the I20 and I35E intersection, allowing for easy access to the metroplex.

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: 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
Meadowcreek Elementary School Primary Regular 695 42 2
Crowley Middle School Middle Regular 615 45 4
North Crowley High School High Regular 2,442 148 4

Meadowcreek Elementary School

  • Education Level: Primary
  • # of students: 695
  • # of teachers: 42
2
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
 

$202,410$247,390$224,900

PURCHASE PRICE

$1,638$2,002$1,820

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,820
EXPENSES Loan Payment -$781
Property Tax -$516
Property Insurance -$159
Property Management Fees -$99
CASH FLOW
$266

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.

$224,900

PROJECTED PRICE

$1,820

PROJECTED RENT

0.81%

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$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k$900k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$65,349

INVESTMENT

$65,349

Down Payment
$56,225
Rehab Estimate
$5,750
Closing Costs
$3,374

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$781

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $56,225
Loan Amount $168,675
See What Happens When You Reinvest Cash Flow

9.75

YEARS SAVED

$31,545

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,820

    LIST RENT
  • $0.8

    LIST RENT PER SQFT
  • $1,812

    COMP ESTIMATED VALUE
  • $0.8

    COMP AVG. RENT PER SQFT
Comps Range
$1,750
1$1,7502$1,7953$1,8004$1,8205$1,925
$1,925
RENT COMPS ANALYSIS
  • 7504 Mayfair Circle Fort Worth, TX 4
    • 4 beds 3 baths ∙ 2,272 Sqft ∙ Built 1985 4 beds 3 baths ∙ 2,272 Sqft ∙ Built 1985
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,820
    • $0.80
    •  
  • 2501 Country Creek Lane Fort Worth, TX 1
    • 4 beds 3 baths ∙ 2,416 Sqft ∙ Built 1988 4 beds 3 baths ∙ 2,416 Sqft ∙ Built 1988
    property image
    LEASED 01/22/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.72
    •  
  • 7501 Meadow Creek Drive Fort Worth, TX 2
    • 4 beds 3 baths ∙ 2,167 Sqft ∙ Built 1994 4 beds 3 baths ∙ 2,167 Sqft ∙ Built 1994
    property image
    LEASED 10/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.83
    •  
  • 3217 Roddy Drive Fort Worth, TX 3
    • 4 beds 3 baths ∙ 2,266 Sqft ∙ Built 1990 4 beds 3 baths ∙ 2,266 Sqft ∙ Built 1990
    property image
    LEASED 02/19/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.79
    •  
  • 2800 Clovermeadow Drive Fort Worth, TX 5
    • 4 beds 3 baths ∙ 2,275 Sqft ∙ Built 1988 4 beds 3 baths ∙ 2,275 Sqft ∙ Built 1988
    property image
    LEASED 02/11/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,925
    • $0.85
    •  
PROPERTY LISTING DETAILS
Ben Villarreal
Keller Williams Urban Dallas
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14528687
Last Updated: 03/13/2021
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