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7616 Parkview Drive Watauga, TX 76148

4 Beds 2 Baths 2,105 sqft Built 2018

$329,900

List Price

$1,700

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

November 06, 2020 RECENTLY ADDED
FACTS
  • Built In 2018
  • Price/Sqft : $156.72
  • 3 Days on Market
  • MLS # : 14466981
  • Updated Date : 11/06/2020 at 15:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,105 sqft
  • Baths : 2 full
Listing Agent

Berkshire Hathawayhs Pondera

Listing Agent's Description

Beautiful and Rare 4 Bedroom 2 Bath with an Office Space, in the sought after Parkview Neighborhood in Watauga. This was a custom chosen home with the original owners selling it. Plenty of space inside this smart home. Plantation Shutters have been added throughout the home, along with an Epoxy Floor in the Garage. The owners still have the original glass backdoor at the property if you do not have a pet and would want to switch the doors. (Picture of spare door in photos) The rooms are spacious for the kids, or some guests. Huge laundry room or wet room. Double entrance to the spare bathroom. Fully Secured with cameras around the home already installed. Smart home AC unit will save you money on electricity.

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

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
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
 

$296,910$362,890$329,900

PURCHASE PRICE

$1,530$1,870$1,700

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,700
EXPENSES Loan Payment -$1,217
Property Tax -$729
Property Insurance -$149
HOA -$50
Property Management Fees -$99
CASH FLOW
-$544

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.

$329,900

PROJECTED PRICE

$1,700

PROJECTED RENT

0.52%

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

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$93,174

INVESTMENT

$93,174

Down Payment
$82,475
Rehab Estimate
$5,750
Closing Costs
$4,949

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,217

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $82,475
Loan Amount $247,425
See What Happens When You Reinvest Cash Flow

-0.08

YEARS SAVED

$3

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,700

    LIST RENT
  • $0.81

    LIST RENT PER SQFT
  • $1,810

    COMP ESTIMATED VALUE
  • $0.86

    COMP AVG. RENT PER SQFT
Comps Range
$1,650
1$1,6502$1,7003$1,7254$1,8505$1,995
$1,995
RENT COMPS ANALYSIS
  • 7616 Parkview Drive Watauga, TX 2
    • 4 beds 2 baths ∙ 2,105 Sqft ∙ Built 2018 4 beds 2 baths ∙ 2,105 Sqft ∙ Built 2018
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.81
    •  
  • 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
    •  
  • 7721 Cypress Club Drive Fort Worth, TX 3
    • 3 beds 2 baths ∙ 2,124 Sqft ∙ Built 2001 3 beds 2 baths ∙ 2,124 Sqft ∙ Built 2001
    property image
    LEASED 01/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,725
    • $0.81
    •  
  • 7644 Murton Place Fort Worth, TX 4
    • 4 beds 2 baths ∙ 2,134 Sqft ∙ Built 1999 4 beds 2 baths ∙ 2,134 Sqft ∙ Built 1999
    property image
    LEASED 11/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.87
    •  
  • 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
Sam Reid
Berkshire Hathawayhs Pondera
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14466981
Last Updated: 11/06/2020
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