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7601 Rhyner Way Fort Worth, TX 76137

3 Beds 2 Baths 2,016 sqft Built 2020

$372,990

List Price

$1,820

$1.6K - $2K

Rent Est.

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
January 06, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2020
  • Price/Sqft : $185.01
  • 5 Days on Market
  • MLS # : 14491186
  • Updated Date : 01/07/2021 at 09:03
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,016 sqft
  • Baths : 2 full
Listing Agent

Gehan Homes Brokerage, Llc

Listing Agent's Description

Brand NEW TSingle-Story Gehan Home with 3 Bedrooms, 2 Bathrooms, 2 Car Garage and so much more! This home has a covered back patio, spacious pantry, open concept from kitchen to family. An elegant entry welcomes you with style, with high ceilings. The spacious kitchen features hardwood floors and a large island. The cozy breakfast nook offers a unique view to the family room. Enjoy the relaxing master suite and a luxurious master bath. This plan offers plenty of room to grow.

SEE MORE

MARKET HIGHLIGHTS

  • # 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)
  • . Dallas has 7th largest concentration of high-tech jobs in the U.S. (Dallas Chamber)

PRICE & RENT TRENDS

Neighborhood: Parkwood Hills

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $104k336k

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

Neighborhood: Parkwood Hills

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100011001200130014001500160017001800190020002100Rent in $9192171

* 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
Parkwood Hill Intermediate School Primary Regular 1,070 57 8
Hillwood Middle School Middle Regular 1,087 65 8
Central High School High Regular 2,573 140 8

Parkwood Hill Intermediate School

  • Education Level: Primary
  • # of students: 1,070
  • # of teachers: 57
8
GreatSchools Rating

Hillwood Middle School

  • Education Level: Middle
  • # of students: 1,087
  • # of teachers: 65
8
GreatSchools Rating

Central High School

  • Education Level: High
  • # of students: 2,573
  • # of teachers: 140
8
GreatSchools Rating
 

$335,691$410,289$372,990

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 -$1,296
Property Tax -$902
Property Insurance -$144
HOA -$50
Property Management Fees -$99
CASH FLOW
-$670

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 10% of earned rent to cover both maintenance and periods of vacancy.

$372,990

PROJECTED PRICE

$1,820

PROJECTED RENT

0.49%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 8.9%
Maintenance Year (1-5) 3.00%
Vacancy 6.93%
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-$12k-$10k-$8.0k-$6.0k-$4.0k-$2.0k$0.0

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$100,842

INVESTMENT

$100,842

Down Payment
$93,248
Rehab Estimate
$2,000
Closing Costs
$5,595

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 100% down payment or higher enables the proceeds from the asset to cover all costs.

$1,296

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $93,248
Loan Amount $279,743
See What Happens When You Reinvest Cash Flow

-0.17

YEARS SAVED

-$19

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
  • $0.9

    LIST RENT PER SQFT
  • $1,840

    COMP ESTIMATED VALUE
  • $0.91

    COMP AVG. RENT PER SQFT
Comps Range
$1,650
1$1,6502$1,8203$1,8954$1,9005$1,995
$1,995
RENT COMPS ANALYSIS
  • 7601 Rhyner Way Fort Worth, TX 2
    • 3 beds 2 baths ∙ 2,016 Sqft ∙ Built 2020 3 beds 2 baths ∙ 2,016 Sqft ∙ Built 2020
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,820
    • $0.90
    •  
  • 5561 Spring Ridge Drive Watauga, TX 1
    • 4 beds 2 baths ∙ 1,957 Sqft ∙ Built 2002 4 beds 2 baths ∙ 1,957 Sqft ∙ Built 2002
    property image
    LEASED 03/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.84
    •  
  • 5548 Flynn Court Fort Worth, TX 3
    • 3 beds 2 baths ∙ 2,039 Sqft ∙ Built 2001 3 beds 2 baths ∙ 2,039 Sqft ∙ Built 2001
    property image
    LEASED 11/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.93
    •  
  • 5540 Flynn Court Fort Worth, TX 4
    • 3 beds 2 baths ∙ 1,977 Sqft ∙ Built 2000 3 beds 2 baths ∙ 1,977 Sqft ∙ Built 2000
    property image
    LEASED 12/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.96
    •  
  • 7716 Parkwood Plaza Drive Fort Worth, TX 5
    • 4 beds 2 baths ∙ 2,176 Sqft ∙ Built 2001 4 beds 2 baths ∙ 2,176 Sqft ∙ Built 2001
    property image
    LEASED 02/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.92
    •  
PROPERTY LISTING DETAILS
April Maki
Gehan Homes Brokerage, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14491186
Last Updated: 01/07/2021
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