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8023 Pennington Fort Worth, TX 76126

4 Beds 3 Baths 2,746 sqft Built 2019

$419,000

List Price

$2,040

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

Built 2019 NEW CONSTRUCTION
December 11, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2019
  • Price/Sqft : $152.59
  • 3 Days on Market
  • MLS # : 14469088
  • Updated Date : 12/11/2020 at 18:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,746 sqft
  • Baths : 3 full
Listing Agent

Rj Williams & Company Re Llc

Listing Agent's Description

Beautiful custom home on an over-sized corner lot. This elegant 1-story is a breath taker, 9ft ceiling with 8ft doors, 4 beds, 3 baths, formal dinning, open concept with stone fireplace and ceiling cedar beams to make it perfect for entertaining! The kitchen offers a beautiful granite island, separate dining space, custom cabinets, walk-in pantry and SS appliances. The master bedroom provides a lovely private retreat that includes a soaking tub, separate shower, double sinks & a huge walk-in closet. The master also offers a separate entrance to big cover patio with a fireplace an great size backyard. Radiant barrier. 30 Year roof. No HOA. No water bill. Less than 15 min to Clear Fork, Aledo, Chisholm trail

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

Zip Code: 76126

ZipNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450kPrice in $104k476k

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

Zip Code: 76126

ZipNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700Rent in $9191734

* 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
Westpark Elementary School Primary Regular 484 25 8
Benbrook Middle High School Middle Regular 911 59 5
Benbrook Middle High School High Regular 911 59 5

Westpark Elementary School

  • Education Level: Primary
  • # of students: 484
  • # of teachers: 25
8
GreatSchools Rating

Benbrook Middle High School

  • Education Level: Middle
  • # of students: 911
  • # of teachers: 59
5
GreatSchools Rating

Benbrook Middle High School

  • Education Level: High
  • # of students: 911
  • # of teachers: 59
5
GreatSchools Rating
 

$377,100$460,900$419,000

PURCHASE PRICE

$1,836$2,244$2,040

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,040
EXPENSES Loan Payment -$1,546
Property Tax -$961
Property Insurance -$186
Property Management Fees -$99
CASH FLOW
-$751

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 9% of earned rent to cover both maintenance and periods of vacancy.

$419,000

PROJECTED PRICE

$2,040

PROJECTED RENT

0.49%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 5.6%
Maintenance Year (1-5) 3.00%
Vacancy 6.39%
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-$14k-$12k-$10k-$8.0k-$6.0k-$4.0k-$2.0k$0.0

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$113,035

INVESTMENT

$113,035

Down Payment
$104,750
Rehab Estimate
$2,000
Closing Costs
$6,285

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 80% down payment or higher enables the proceeds from the asset to cover all costs.

$1,546

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $104,750
Loan Amount $314,250
See What Happens When You Reinvest Cash Flow

-0.08

YEARS SAVED

-$9

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,040

    LIST RENT
  • $0.74

    LIST RENT PER SQFT
  • $2,595

    COMP ESTIMATED VALUE
  • $0.95

    COMP AVG. RENT PER SQFT
Comps Range
$2,040
1$2,0402$2,4003$2,895
$2,895
RENT COMPS ANALYSIS
  • 8023 Pennington Fort Worth, TX 1
    • 4 beds 3 baths ∙ 2,746 Sqft ∙ Built 2019 4 beds 3 baths ∙ 2,746 Sqft ∙ Built 2019
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,040
    • $0.74
    •  
  • 5637 Herkes Court Benbrook, TX 2
    • 4 beds 3 baths ∙ 2,703 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,703 Sqft ∙ Built 2005
    property image
    LEASED 07/18/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $0.89
    •  
  • 12424 Iris Court Fort Worth, TX 3
    • 4 beds 3 baths ∙ 2,908 Sqft ∙ Built 2020 4 beds 3 baths ∙ 2,908 Sqft ∙ Built 2020
    property image
    LEASED 07/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,895
    • $1.00
    •  
PROPERTY LISTING DETAILS
Juan Manuel Acosta
Rj Williams & Company Re Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14469088
Last Updated: 12/11/2020
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