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781 Red Elm Lane Fort Worth, TX 76131

4 Beds 3 Baths 2,333 sqft Built 2010

$315,000

List Price

$1,880

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 25, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2010
  • Price/Sqft : $135.02
  • 4 Days on Market
  • MLS # : 14521867
  • Updated Date : 02/26/2021 at 17:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,333 sqft
  • Baths : 3 full
Listing Agent

Century 21 Judge Fite Company

Listing Agent's Description

This desirable Fort Worth home features one of the most popular floor plans with 3 bedrooms and 2 baths downstairs along with a flex or bonus room for a home office or formal dining space. Upstairs you will find a large second living area, additional bedroom and bath along with a built in desk. Light and bright living spaces with hand scraped hard wood flooring. Kitchen features custom back splash, granite counters and stainless steel appliances including built-in microwave. Front porch is spacious and perfect for relaxing. Covered back porch overlooks a large fenced in yard. Spacious corner lot with manicured landscaping. Community pool and playground, trails and park-like setting-perfect for exploring.

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: Creekwood

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280kPrice in $104k286k

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

Neighborhood: Creekwood

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100011001200130014001500160017001800Rent in $9191858

* 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
Comanche Springs Elementary School Primary Regular 586 34 5
Prairie Vista Middle School Middle Regular 866 53 5
Saginaw High School High Regular 1,785 113 6

Comanche Springs Elementary School

  • Education Level: Primary
  • # of students: 586
  • # of teachers: 34
5
GreatSchools Rating

Prairie Vista Middle School

  • Education Level: Middle
  • # of students: 866
  • # of teachers: 53
5
GreatSchools Rating

Saginaw High School

  • Education Level: High
  • # of students: 1,785
  • # of teachers: 113
6
GreatSchools Rating
 

$283,500$346,500$315,000

PURCHASE PRICE

$1,692$2,068$1,880

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,880
EXPENSES Loan Payment -$1,094
Property Tax -$722
Property Insurance -$162
HOA -$42
Property Management Fees -$99
CASH FLOW
-$239

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.

$315,000

PROJECTED PRICE

$1,880

PROJECTED RENT

0.60%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 4.2%
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$100k$200k$300k$400k$500k$600k$700k$800k

PROJECTED ANNUAL CASH FLOW

11530-$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$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$89,225

INVESTMENT

$89,225

Down Payment
$78,750
Rehab Estimate
$5,750
Closing Costs
$4,725

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$1,094

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $78,750
Loan Amount $236,250
See What Happens When You Reinvest Cash Flow

1

YEARS SAVED

$1,430

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,880

    LIST RENT
  • $0.81

    LIST RENT PER SQFT
  • $1,861

    COMP ESTIMATED VALUE
  • $0.8

    COMP AVG. RENT PER SQFT
Comps Range
$1,700
1$1,7002$1,8003$1,8504$1,8805$1,895
$1,895
RENT COMPS ANALYSIS
  • 781 Red Elm Lane Fort Worth, TX 4
    • 4 beds 3 baths ∙ 2,333 Sqft ∙ Built 2010 4 beds 3 baths ∙ 2,333 Sqft ∙ Built 2010
    • Rent
    • Rent Per SQFT
    •  
    • $1,880
    • $0.81
    •  
  • 1229 Cheyenne Court Saginaw, TX 1
    • 4 beds 3 baths ∙ 2,140 Sqft ∙ Built 1999 4 beds 3 baths ∙ 2,140 Sqft ∙ Built 1999
    LEASED 08/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.79
    •  
  • 8532 Cactus Flower Drive Fort Worth, TX 2
    • 4 beds 3 baths ∙ 2,278 Sqft ∙ Built 2002 4 beds 3 baths ∙ 2,278 Sqft ∙ Built 2002
    LEASED 05/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.79
    •  
  • 1300 Pepperidge Lane Fort Worth, TX 3
    • 4 beds 2 baths ∙ 2,514 Sqft ∙ Built 2006 4 beds 2 baths ∙ 2,514 Sqft ∙ Built 2006
    LEASED 12/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.74
    •  
  • 8517 Santa Ana Drive Fort Worth, TX 5
    • 4 beds 2 baths ∙ 2,187 Sqft ∙ Built 2002 4 beds 2 baths ∙ 2,187 Sqft ∙ Built 2002
    LEASED 02/15/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.87
    •  
PROPERTY LISTING DETAILS
Beth Steinke
Century 21 Judge Fite Company
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14521867
Last Updated: 02/26/2021
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