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7791 Park Downs Drive Fort Worth, TX 76137

3 Beds 3 Baths 1,967 sqft Built 1998

$260,000

List Price

$1,700

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

November 13, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1998
  • Price/Sqft : $132.18
  • 3 Days on Market
  • MLS # : 14470397
  • Updated Date : 11/13/2020 at 02:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,967 sqft
  • Baths : 2 full , 1 half
Listing Agent

Orchard Brokerage

Listing Agent's Description

Click the Virtual Tour link to view the 3D Matterport walkthrough. Remarkable two-story home on a spacious lot with great location and a spacious private yard with a fenced-in crystal blue pool. Spacious open concept floor plan with vaulted ceilings and numerous upgrades. Impressive laminate flooring in the living room with a gas fireplace and large windows that provide abundant natural light. Formal dining room and breakfast area adjacent to the kitchen. Kitchen features include backsplash, easy-maintenance tile flooring, and a breakfast bar. All bedrooms are on the upper-level wand the master has a walk-in closet and luxurious 5-piece bathroom. Guest bedrooms are of a good size with vaulted ceilings. Turnkey.

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: Park Place

NeighborhoodNIR Market*CityMarket2010Year20002019110k120k130k140k150k160k170k180k190k200k210k220k230k240kPrice in $104k243k

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

Neighborhood: Park Place

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700Rent in $9191775

* 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
Bluebonnet Elementary School Primary Regular 646 42 5
Fossil Hill Middle School Middle Regular 918 66 6
Fossil Ridge High School High Regular 2,308 133 7

Bluebonnet Elementary School

  • Education Level: Primary
  • # of students: 646
  • # of teachers: 42
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
 

$234,000$286,000$260,000

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 -$959
Property Tax -$596
Property Insurance -$141
HOA -$7
Property Management Fees -$99
CASH FLOW
-$102

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.

$260,000

PROJECTED PRICE

$1,700

PROJECTED RENT

0.65%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 10.5%
Maintenance Year (1-5) 8.00%
Vacancy 6.39%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

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

PROJECTED ANNUAL CASH FLOW

11530-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$74,650

INVESTMENT

$74,650

Down Payment
$65,000
Rehab Estimate
$5,750
Closing Costs
$3,900

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$959

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $65,000
Loan Amount $195,000
See What Happens When You Reinvest Cash Flow

2.5

YEARS SAVED

$6,246

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
  • $0.86

    LIST RENT PER SQFT
  • $1,716

    COMP ESTIMATED VALUE
  • $0.87

    COMP AVG. RENT PER SQFT
Comps Range
$1,650
1$1,6502$1,6803$1,6954$1,7005$1,700
$1,700
RENT COMPS ANALYSIS
  • 7791 Park Downs Drive Fort Worth, TX 5
    • 3 beds 3 baths ∙ 1,967 Sqft ∙ Built 1998 3 beds 3 baths ∙ 1,967 Sqft ∙ Built 1998
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.86
    •  
  • 7858 Blake Court Fort Worth, TX 1
    • 4 beds 2 baths ∙ 1,832 Sqft ∙ Built 1998 4 beds 2 baths ∙ 1,832 Sqft ∙ Built 1998
    property image
    LEASED 01/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.90
    •  
  • 7800 Park Run Road Fort Worth, TX 2
    • 3 beds 2 baths ∙ 2,040 Sqft ∙ Built 1998 3 beds 2 baths ∙ 2,040 Sqft ∙ Built 1998
    property image
    LEASED 09/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,680
    • $0.82
    •  
  • 4650 Park Court Fort Worth, TX 3
    • 4 beds 2 baths ∙ 1,941 Sqft ∙ Built 1996 4 beds 2 baths ∙ 1,941 Sqft ∙ Built 1996
    property image
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.87
    •  
  • 4665 Parkmount Drive Fort Worth, TX 4
    • 3 beds 2 baths ∙ 1,888 Sqft ∙ Built 1998 3 beds 2 baths ∙ 1,888 Sqft ∙ Built 1998
    property image
    LEASED 07/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.90
    •  
PROPERTY LISTING DETAILS
Quen Williams
Orchard Brokerage
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14470397
Last Updated: 11/13/2020
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