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7550 Scarlet View Trail Fort Worth, TX 76131

5 Beds 3 Baths 3,609 sqft Built 2006

INVESTimate

$299,000

List Price

$2,040

$1,836 - $2,244

Rent Est.

$326,717  ( +9.27%)   1 YR EST. FORECAST

PROPERTY INFO

August 23, 2020 RECENTLY ADDED
FACTS
  • Built In 2006
  • Price/Sqft : $82.85
  • 4 Days on Market
  • MLS # : 14419242
  • Updated Date : 08/26/2020 at 00:26
CONSTRUCTION
  • Beds : 5
  • Floor Size : 3,609 sqft
  • Baths : 3 full
Listing Agent

Beam Real Estate, Llc

Listing Agent's Description

TASTEFULLY UPDATED 5 Bed-3 Bath-3609 sq ft home on an Oversized interior corner Lot! One of the Largest Homes in the Whole Neighborhood! Family-friendly community with easy access to shopping, dining, schools, & highways. Spacious Living Areas with dedicated dining, formal living, family, & breakfast. Kitchen has brand New Stainless Steel Microwave and Range-Oven! Huge Master Suite with new Granite countertop, his & hers walk-in closets & dual sinks! All-New Paint & LED Lighting throughout + New vinyl plank floors downstairs, New carpet upstairs! Airy upstairs gameroom + oversized bedrooms with walk-in closets. Large backyard, New fence, useful storage shed & sprinkler system. Make This Your Forever Home Today!

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: Basswood Village

NeighborhoodNIR Market*CityMarket2010Year20002019110k120k130k140k150k160k170k180k190k200k210k220k230k240kPrice in $104k243k

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

Neighborhood: Basswood Village

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100011001200130014001500160017001800Rent in $9191825

* 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
Chisolm Trail Intermediate School Primary Regular 883 58 5
Fossil Hill Middle School Middle Regular 918 66 6
Fossil Ridge High School High Regular 2,308 133 7

Chisolm Trail Intermediate School

  • Education Level: Primary
  • # of students: 883
  • # of teachers: 58
5
GreatSchools Rating

Fossil Hill Middle School

  • Education Level: Middle
  • # of students: 918
  • # of teachers: 66
6
GreatSchools Rating

Fossil Ridge High School

  • Education Level: High
  • # of students: 2,308
  • # of teachers: 133
7
GreatSchools Rating
 

$269,100$328,900$299,000

PURCHASE PRICE

$1,836$2,244$2,040

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

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

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,040
EXPENSES Loan Payment -$1,103
Property Tax -$685
Property Insurance -$236
HOA -$16
Property Management Fees -$99
CASH FLOW
-$100

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.

$299,000

PROJECTED PRICE

$2,040

PROJECTED RENT

0.68%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 9.27%
Maintenance Year (1-5) 8.00%
Vacancy 6.39%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$84,985

INVESTMENT

$84,985

Down Payment
$74,750
Rehab Estimate
$5,750
Closing Costs
$4,485

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$1,103

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $74,750
Loan Amount $224,250
See What Happens When You Reinvest Cash Flow

2.58

YEARS SAVED

$7,529

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,040

    LIST RENT
  • $0.57

    LIST RENT PER SQFT
  • $2,247

    COMP ESTIMATED VALUE
  • $0.62

    COMP AVG. RENT PER SQFT
Comps Range
$2,040
1$2,0402$2,0803$2,0954$2,1955$2,195
$2,195
RENT COMPS ANALYSIS
  • 7550 Scarlet View Trail Fort Worth, TX 1
    • 5 beds 3 baths ∙ 3,609 Sqft ∙ Built 2006 5 beds 3 baths ∙ 3,609 Sqft ∙ Built 2006
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,040
    • $0.57
    •  
  • 7537 Almondale Drive Fort Worth, TX 2
    • 5 beds 3 baths ∙ 3,435 Sqft ∙ Built 2006 5 beds 3 baths ∙ 3,435 Sqft ∙ Built 2006
    property image
    LEASED 02/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,080
    • $0.61
    •  
  • 7636 Scarlet View Trail Fort Worth, TX 3
    • 5 beds 3 baths ∙ 3,369 Sqft ∙ Built 2006 5 beds 3 baths ∙ 3,369 Sqft ∙ Built 2006
    property image
    LEASED 06/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,095
    • $0.62
    •  
  • 2712 Las Ventanas Trail Fort Worth, TX 4
    • 5 beds 4 baths ∙ 3,348 Sqft ∙ Built 2007 5 beds 4 baths ∙ 3,348 Sqft ∙ Built 2007
    property image
    LEASED 09/13/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,195
    • $0.66
    •  
  • 3451 Thaddeus Drive Fort Worth, TX 5
    • 5 beds 3 baths ∙ 3,678 Sqft ∙ Built 1999 5 beds 3 baths ∙ 3,678 Sqft ∙ Built 1999
    property image
    LEASED 03/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,195
    • $0.60
    •  
PROPERTY LISTING DETAILS
Tim Jacob
Beam Real Estate, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14419242
Last Updated: 08/26/2020
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