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7913 Songbird Lane Fort Worth, TX 76123

4 Beds 2 Baths 2,237 sqft Built 2001

$275,000

List Price

$1,960

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 25, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2001
  • Price/Sqft : $122.93
  • 4 Days on Market
  • MLS # : 14539953
  • Updated Date : 03/27/2021 at 20:33
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,237 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Realty

Listing Agent's Description

MULTIPLE OFFERS RECEIVED! OFFERS DUE SUN 28TH BY 5PM! Move-in ready 4-2 in lovely community w- pool and clubhouse! Flex space could be 4th bdrm-office w-french doors. Split floorplan w-lrg secondary rooms w-walk in closets, vaulted ceilings and fans. LARGE open concept living space w- gas fireplace w-custom mantle, custom built-ins, vaulted ceiling, ceiling fans. Open lrg dining-flex to addn living space. Open kitchen w-ample counters-cabinets. Island w-electric, gas cooktop, mounted microwave and oven, fridge stays, walk in pantry, eat in space w-bay windows. Lrg master w-vaulted ceiling and fan. Dual sinks, sep shower, garden tub, lrg walk in closet. Covered patio w-tool shed and lrg backyard w-privacy fence.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • # 1 in the country for job growth in 2017 (2.6% growth, 91,700 new jobs) (US Census, Forbes, 2017)

PRICE & RENT TRENDS

Neighborhood: Hulen Heights

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $104k336k

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

Neighborhood: Hulen Heights

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
Dallas Park Elementary School Primary Regular 644 35 3
Summer Creek Middle School Middle Regular 779 52 4
North Crowley High School High Regular 2,442 148 4

Dallas Park Elementary School

  • Education Level: Primary
  • # of students: 644
  • # of teachers: 35
3
GreatSchools Rating

Summer Creek Middle School

  • Education Level: Middle
  • # of students: 779
  • # of teachers: 52
4
GreatSchools Rating

North Crowley High School

  • Education Level: High
  • # of students: 2,442
  • # of teachers: 148
4
GreatSchools Rating
 

$247,500$302,500$275,000

PURCHASE PRICE

$1,764$2,156$1,960

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,960
EXPENSES Loan Payment -$955
Property Tax -$630
Property Insurance -$156
HOA -$42
Property Management Fees -$99
CASH FLOW
$77

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.

$275,000

PROJECTED PRICE

$1,960

PROJECTED RENT

0.71%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 7.4%
Maintenance Year (1-5) 8.00%
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

PROJECTED ANNUAL CASH FLOW

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

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$78,625

INVESTMENT

$78,625

Down Payment
$68,750
Rehab Estimate
$5,750
Closing Costs
$4,125

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$955

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $68,750
Loan Amount $206,250
See What Happens When You Reinvest Cash Flow

5.5

YEARS SAVED

$16,721

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,960

    LIST RENT
  • $0.88

    LIST RENT PER SQFT
  • $1,924

    COMP ESTIMATED VALUE
  • $0.86

    COMP AVG. RENT PER SQFT
Comps Range
$1,775
1$1,7752$1,8153$1,8454$1,8955$1,960
$1,960
RENT COMPS ANALYSIS
  • 7913 Songbird Lane Fort Worth, TX 5
    • 4 beds 2 baths ∙ 2,237 Sqft ∙ Built 2001 4 beds 2 baths ∙ 2,237 Sqft ∙ Built 2001
    • Rent
    • Rent Per SQFT
    •  
    • $1,960
    • $0.88
    •  
  • 4513 Marguerite Lane Fort Worth, TX 1
    • 3 beds 2 baths ∙ 2,169 Sqft ∙ Built 2004 3 beds 2 baths ∙ 2,169 Sqft ∙ Built 2004
    LEASED 11/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,775
    • $0.82
    •  
  • 7974 Belladonna Drive Fort Worth, TX 2
    • 3 beds 2 baths ∙ 2,111 Sqft ∙ Built 1999 3 beds 2 baths ∙ 2,111 Sqft ∙ Built 1999
    LEASED 07/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,815
    • $0.86
    •  
  • 8201 Cedarcrest Lane Fort Worth, TX 3
    • 3 beds 2 baths ∙ 2,060 Sqft ∙ Built 2002 3 beds 2 baths ∙ 2,060 Sqft ∙ Built 2002
    LEASED 07/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,845
    • $0.90
    •  
  • 8309 Southern Prairie Drive Fort Worth, TX 4
    • 4 beds 2 baths ∙ 2,196 Sqft ∙ Built 2004 4 beds 2 baths ∙ 2,196 Sqft ∙ Built 2004
    LEASED 02/04/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.86
    •  
PROPERTY LISTING DETAILS
Jennifer Dons
Keller Williams Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14539953
Last Updated: 03/27/2021
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