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7955 Mellie Court Fort Worth, TX 76123

6 Beds 4 Baths 4,519 sqft Built 2002

$349,900

List Price

$2,700

$2.5K - $3K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 26, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2002
  • Price/Sqft : $77.43
  • 3 Days on Market
  • MLS # : 14539161
  • Updated Date : 03/26/2021 at 15:49
CONSTRUCTION
  • Beds : 6
  • Floor Size : 4,519 sqft
  • Baths : 4 full
Listing Agent

Camino Real Estate

Listing Agent's Description

Don't miss out on the opportunity to own this gorgeous 6 bedroom, 4 bathroom home located in beautiful Hulen Heights and 1 block from the community pool! The home welcomes you with a beautiful staircase, office and guest suite perfect for a MIL. The home has new flooring and paint through out. It is a spacious home with an open floor plan, vaulted ceilings, and bay windows. Large open concept kitchen opens up to a large living room. Primary suite offers vaulted ceilings, large shower, soaking tub, dual sinks and vanities, and walk-in closet. Upper level is family central with large second living room, media-game room, 4 bedrooms, and 2 bathrooms. Situated on an oversized lot, this one will not long!!

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
 

$314,910$384,890$349,900

PURCHASE PRICE

$2,430$2,970$2,700

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,700
EXPENSES Loan Payment -$1,215
Property Tax -$821
Property Insurance -$288
HOA -$33
Property Management Fees -$99
CASH FLOW
$244

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.

$349,900

PROJECTED PRICE

$2,700

PROJECTED RENT

0.77%

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$1.0M$1.2M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k

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$98,474

INVESTMENT

$98,474

Down Payment
$87,475
Rehab Estimate
$5,750
Closing Costs
$5,249

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,215

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $87,475
Loan Amount $262,425
See What Happens When You Reinvest Cash Flow

7.5

YEARS SAVED

$33,060

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,700

    LIST RENT
  • $0.6

    LIST RENT PER SQFT
  • $2,734

    COMP ESTIMATED VALUE
  • $0.61

    COMP AVG. RENT PER SQFT
Comps Range
$2,550
1$2,5502$2,7003$2,850
$2,850
RENT COMPS ANALYSIS
  • 7955 Mellie Court Fort Worth, TX 2
    • 6 beds 4 baths ∙ 4,519 Sqft ∙ Built 2002 6 beds 4 baths ∙ 4,519 Sqft ∙ Built 2002
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $0.60
    •  
  • 8369 Summer Park Drive Fort Worth, TX 1
    • 5 beds 4 baths ∙ 4,326 Sqft ∙ Built 2003 5 beds 4 baths ∙ 4,326 Sqft ∙ Built 2003
    property image
    LEASED 10/09/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,550
    • $0.59
    •  
  • 5213 Cedar Brush Drive Fort Worth, TX 3
    • 5 beds 4 baths ∙ 4,627 Sqft ∙ Built 2007 5 beds 4 baths ∙ 4,627 Sqft ∙ Built 2007
    property image
    LEASED 09/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,850
    • $0.62
    •  
PROPERTY LISTING DETAILS
Samuel Mason
Camino Real Estate
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14539161
Last Updated: 03/26/2021
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