Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

7940 Park Ridge Drive Fort Worth, TX 76137

4 Beds 3 Baths 2,269 sqft Built 2001

$305,000

List Price

$1,810

$1.6K - $2K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 25, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2001
  • Price/Sqft : $134.42
  • 5 Days on Market
  • MLS # : 14521351
  • Updated Date : 02/26/2021 at 21:37
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,269 sqft
  • Baths : 3 full
Listing Agent

Coldwell Banker Realty

Listing Agent's Description

There are no more showing times available. MULTIPLE OFFERS RECEIVED - DEADLINE IS SUNDAY 2-28-21 AT 3 PM. Rare find in Park Glen! 1 story one owner home with 4 bedrooms and 3 full baths! Gourmet kitchen with granite countertops , tumbled marble backsplash, stainless steel appliances and travertine flooring! Gorgeous hardwood floors adorn the entry, hallways, formal dining, and living areas. It is located on a quiet cul-de-sac lot, has a huge backyard and it is walking distance to the elementary school . Seller requests a 30 day close and a lease back through May 31. Limited showing times are available. Do not call listing agent- if you need to communicate , please text.

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 Glen

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $104k336k

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

Neighborhood: Park Glen

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
Park Glen Elementary School Primary Regular 546 38 7
Central High School High Regular 2,573 140 8
Central High School High Unknown NA

Park Glen Elementary School

  • Education Level: Primary
  • # of students: 546
  • # of teachers: 38
7
GreatSchools Rating

Central High School

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

Central High School

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

$274,500$335,500$305,000

PURCHASE PRICE

$1,629$1,991$1,810

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,810
EXPENSES Loan Payment -$1,059
Property Tax -$699
Property Insurance -$158
Property Management Fees -$99
CASH FLOW
-$206

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.

$305,000

PROJECTED PRICE

$1,810

PROJECTED RENT

0.59%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 8.4%
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$1.0M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$86,575

INVESTMENT

$86,575

Down Payment
$76,250
Rehab Estimate
$5,750
Closing Costs
$4,575

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,059

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $76,250
Loan Amount $228,750
See What Happens When You Reinvest Cash Flow

1.33

YEARS SAVED

$2,085

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,810

    LIST RENT
  • $0.8

    LIST RENT PER SQFT
  • $1,878

    COMP ESTIMATED VALUE
  • $0.83

    COMP AVG. RENT PER SQFT
Comps Range
$1,700
1$1,7002$1,8103$1,9254$1,9305$1,995
$1,995
RENT COMPS ANALYSIS
  • 7940 Park Ridge Drive Fort Worth, TX 2
    • 4 beds 3 baths ∙ 2,269 Sqft ∙ Built 2001 4 beds 3 baths ∙ 2,269 Sqft ∙ Built 2001
    • Rent
    • Rent Per SQFT
    •  
    • $1,810
    • $0.80
    •  
  • 7792 Beaver Head Road Fort Worth, TX 1
    • 4 beds 2 baths ∙ 2,084 Sqft ∙ Built 1995 4 beds 2 baths ∙ 2,084 Sqft ∙ Built 1995
    LEASED 12/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.82
    •  
  • 4824 Park Brook Drive Fort Worth, TX 3
    • 4 beds 2 baths ∙ 2,443 Sqft ∙ Built 1997 4 beds 2 baths ∙ 2,443 Sqft ∙ Built 1997
    LEASED 12/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,925
    • $0.79
    •  
  • 5105 Cedar River Trail Fort Worth, TX 4
    • 4 beds 2 baths ∙ 2,238 Sqft ∙ Built 1994 4 beds 2 baths ∙ 2,238 Sqft ∙ Built 1994
    LEASED 08/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,930
    • $0.86
    •  
  • 5452 Lake Powell Drive Fort Worth, TX 5
    • 4 beds 2 baths ∙ 2,368 Sqft ∙ Built 1993 4 beds 2 baths ∙ 2,368 Sqft ∙ Built 1993
    LEASED 11/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.84
    •  
PROPERTY LISTING DETAILS
Laurie Anderson
Coldwell Banker Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14521351
Last Updated: 02/26/2021
BESbswy