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7941 Gardengate Lane Fort Worth, TX 76137

3 Beds 2 Baths 1,314 sqft Built 1992

$200,000

List Price

$1,450

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

November 13, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1992
  • Price/Sqft : $152.21
  • 3 Days on Market
  • MLS # : 14470735
  • Updated Date : 11/14/2020 at 11:36
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,314 sqft
  • Baths : 2 full
Listing Agent

Indwell

Listing Agent's Description

Multiple offers deadline 11am Monday the 16th! Perfect 3 bed, 2 full bath home in summerfields addition! Large backyard with open patio and a pool. updated laminant wood flooring, ceramic tile in kitchen and entryway, open living and dining area with wood burning fireplace. Great restaurants & shopping close by also walking distance to schools.

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: Summerfields

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240kPrice in $88k243k

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

Neighborhood: Summerfields

NeighborhoodNIR Market*CityMarket2010Year20002019 Q290010001100120013001400150016001700Rent in $8851734

* 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
Chisolm Trail Intermediate School Primary Regular 883 58 5
Fossil Hill Middle School Middle Regular 918 66 6
Fossil Ridge High School High Regular 2,308 133 7

Chisolm Trail Intermediate School

  • Education Level: Primary
  • # of students: 883
  • # of teachers: 58
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
 

$180,000$220,000$200,000

PURCHASE PRICE

$1,305$1,595$1,450

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,450
EXPENSES Loan Payment -$738
Property Tax -$458
Property Insurance -$103
Property Management Fees -$99
CASH FLOW
$52

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.

$200,000

PROJECTED PRICE

$1,450

PROJECTED RENT

0.73%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.74%
Appreciation Year (1-5) 11.7%
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$100k$200k$300k$400k$500k$600k$700k$800k

PROJECTED ANNUAL CASH FLOW

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$58,750

INVESTMENT

$58,750

Down Payment
$50,000
Rehab Estimate
$5,750
Closing Costs
$3,000

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$738

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $50,000
Loan Amount $150,000
See What Happens When You Reinvest Cash Flow

5.58

YEARS SAVED

$14,436

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,450

    LIST RENT
  • $1.1

    LIST RENT PER SQFT
  • $1,449

    COMP ESTIMATED VALUE
  • $1.1

    COMP AVG. RENT PER SQFT
Comps Range
$1,450
1$1,4502$1,4753$1,5004$1,5255$1,595
$1,595
RENT COMPS ANALYSIS
  • 7941 Gardengate Lane Fort Worth, TX 1
    • 3 beds 2 baths ∙ 1,314 Sqft ∙ Built 1992 3 beds 2 baths ∙ 1,314 Sqft ∙ Built 1992
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $1.10
    •  
  • 7908 Gardengate Lane Fort Worth, TX 2
    • 3 beds 2 baths ∙ 1,314 Sqft ∙ Built 1992 3 beds 2 baths ∙ 1,314 Sqft ∙ Built 1992
    property image
    LEASED 08/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,475
    • $1.12
    •  
  • 3720 River Birch Road Fort Worth, TX 3
    • 3 beds 2 baths ∙ 1,344 Sqft ∙ Built 1986 3 beds 2 baths ∙ 1,344 Sqft ∙ Built 1986
    property image
    LEASED 01/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $1.12
    •  
  • 7708 Waxwing Circle Fort Worth, TX 4
    • 3 beds 2 baths ∙ 1,455 Sqft ∙ Built 1986 3 beds 2 baths ∙ 1,455 Sqft ∙ Built 1986
    property image
    LEASED 04/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,525
    • $1.05
    •  
  • 4241 Iris Avenue Fort Worth, TX 5
    • 3 beds 2 baths ∙ 1,421 Sqft ∙ Built 1995 3 beds 2 baths ∙ 1,421 Sqft ∙ Built 1995
    property image
    LEASED 09/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $1.12
    •  
PROPERTY LISTING DETAILS
Matthew Kirby
Indwell
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14470735
Last Updated: 11/14/2020
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