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7605 Parkview Drive Watauga, TX 76148

4 Beds 3 Baths 2,670 sqft Built 2018

$397,000

List Price

$2,190

$2K - $2.4K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 18, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2018
  • Price/Sqft : $148.69
  • 4 Days on Market
  • MLS # : 14515609
  • Updated Date : 02/18/2021 at 21:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,670 sqft
  • Baths : 2 full , 1 half
Listing Agent

Century 21 Judge Fite Co.

Listing Agent's Description

Great View and location!! Sit on your back patio and look out on Cap Smith Park in this 4 bedroom, 2.5 bath home with 2 living areas. Front of the house has a great office space or formal dining. Wonderful open concept kitchen with large granite island and a pantry. Second floor has a gameroom, 3 bedrooms, and great hollywood bathroom set up with separate sinks and vanities. Save on those bills with this energy efficient home and solar panels. Lots of storage throughout this home. Hurry! Parkview is located in Keller ISD and walking distance to park, shops, and Whitley Road Elementary. Buyers and agents to verify all measurements, schools, and information.

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: 76148

ZipNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240kPrice in $76k243k

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

Zip Code: 76148

ZipNIR Market*CityMarket2010Year20002019 Q280090010001100120013001400150016001700Rent in $7061734

* 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
Whitley Road Elementary School Primary Regular 476 37 4
Central High School High Regular 2,573 140 8
Whitley Road Elementary School Primary Unknown NA

Whitley Road Elementary School

  • Education Level: Primary
  • # of students: 476
  • # of teachers: 37
4
GreatSchools Rating

Central High School

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

Whitley Road Elementary School

  • Education Level: Primary
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$357,300$436,700$397,000

PURCHASE PRICE

$1,971$2,409$2,190

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,190
EXPENSES Loan Payment -$1,379
Property Tax -$877
Property Insurance -$181
HOA -$50
Property Management Fees -$99
CASH FLOW
-$396

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.

$397,000

PROJECTED PRICE

$2,190

PROJECTED RENT

0.55%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.74%
Appreciation Year (1-5) 11.9%
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$1.2M$1.4M

PROJECTED ANNUAL CASH FLOW

11530-$10k-$8.0k-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$110,955

INVESTMENT

$110,955

Down Payment
$99,250
Rehab Estimate
$5,750
Closing Costs
$5,955

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 75% down payment or higher enables the proceeds from the asset to cover all costs.

$1,379

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $99,250
Loan Amount $297,750
See What Happens When You Reinvest Cash Flow

0.33

YEARS SAVED

$393

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,190

    LIST RENT
  • $0.82

    LIST RENT PER SQFT
  • $2,203

    COMP ESTIMATED VALUE
  • $0.83

    COMP AVG. RENT PER SQFT
Comps Range
$1,995
1$1,9952$2,0953$2,1904$2,1955$2,450
$2,450
RENT COMPS ANALYSIS
  • 7605 Parkview Drive Watauga, TX 3
    • 4 beds 3 baths ∙ 2,670 Sqft ∙ Built 2018 4 beds 3 baths ∙ 2,670 Sqft ∙ Built 2018
    • Rent
    • Rent Per SQFT
    •  
    • $2,190
    • $0.82
    •  
  • 5549 Lawnsberry Drive Fort Worth, TX 1
    • 4 beds 3 baths ∙ 2,380 Sqft ∙ Built 1999 4 beds 3 baths ∙ 2,380 Sqft ∙ Built 1999
    LEASED 01/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.84
    •  
  • 5463 Blue Water Lake Drive Fort Worth, TX 2
    • 5 beds 3 baths ∙ 2,862 Sqft ∙ Built 2001 5 beds 3 baths ∙ 2,862 Sqft ∙ Built 2001
    LEASED 10/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,095
    • $0.73
    •  
  • 7912 Rampston Place Fort Worth, TX 4
    • 4 beds 3 baths ∙ 2,676 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,676 Sqft ∙ Built 2003
    LEASED 02/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,195
    • $0.82
    •  
  • 7612 Spring Drive Watauga, TX 5
    • 4 beds 3 baths ∙ 2,698 Sqft ∙ Built 2018 4 beds 3 baths ∙ 2,698 Sqft ∙ Built 2018
    LEASED 08/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $0.91
    •  
PROPERTY LISTING DETAILS
Kerri Bandy
Century 21 Judge Fite Co.
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14515609
Last Updated: 02/18/2021
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