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8059 Athens Way Fort Worth, TX 76123

4 Beds 3 Baths 2,583 sqft Built 1999

$245,000

List Price

$1,720

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

February 05, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1999
  • Price/Sqft : $94.85
  • 3 Days on Market
  • MLS # : 14509681
  • Updated Date : 02/05/2021 at 21:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,583 sqft
  • Baths : 2 full , 1 half
Listing Agent

Keller Williams Realty Ftworth

Listing Agent's Description

MULTIPLE OFFERS, HIGHEST AND BEST BY 2-6-21 AT 8:00 pm. Enter into this charming two-story house with 4 bedrooms and 2.5 baths. The kitchen opens up to the living area. Nice size large dining area. The living area has a corner fireplace. The front of the house has solar screens, which help with keeping the house cooler in the summer and helps with your electric bills. Upstairs is a large media and or game room and three bedrooms with a bathroom. The back yard backs up to a city park, so you will never have a back yard neighbor. Great neighborhood, near major freeways and the CTP tollroad.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Meadow Creek

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240kPrice in $88k243k

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

Neighborhood: Meadow Creek

NeighborhoodNIR Market*CityMarket2010Year20002019 Q290010001100120013001400150016001700Rent in $8661734

* 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
Meadowcreek Elementary School Primary Regular 695 42 2
Crowley Middle School Middle Regular 615 45 4
North Crowley High School High Regular 2,442 148 4

Meadowcreek Elementary School

  • Education Level: Primary
  • # of students: 695
  • # of teachers: 42
2
GreatSchools Rating

Crowley Middle School

  • Education Level: Middle
  • # of students: 615
  • # of teachers: 45
4
GreatSchools Rating

North Crowley High School

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

$220,500$269,500$245,000

PURCHASE PRICE

$1,548$1,892$1,720

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,720
EXPENSES Loan Payment -$851
Property Tax -$562
Property Insurance -$176
Property Management Fees -$99
CASH FLOW
$32

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.

$245,000

PROJECTED PRICE

$1,720

PROJECTED RENT

0.70%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.74%
Appreciation Year (1-5) 12.3%
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$200k$400k$600k$800k$1.0M

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$200k$400k$600k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$70,675

INVESTMENT

$70,675

Down Payment
$61,250
Rehab Estimate
$5,750
Closing Costs
$3,675

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$851

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $61,250
Loan Amount $183,750
See What Happens When You Reinvest Cash Flow

4.58

YEARS SAVED

$11,432

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,720

    LIST RENT
  • $0.67

    LIST RENT PER SQFT
  • $1,840

    COMP ESTIMATED VALUE
  • $0.71

    COMP AVG. RENT PER SQFT
Comps Range
$1,650
1$1,6502$1,7203$1,7254$1,8505$1,900
$1,900
RENT COMPS ANALYSIS
  • 8059 Athens Way Fort Worth, TX 2
    • 4 beds 3 baths ∙ 2,583 Sqft ∙ Built 1999 4 beds 3 baths ∙ 2,583 Sqft ∙ Built 1999
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,720
    • $0.67
    •  
  • 3416 Plantation Lane Fort Worth, TX 1
    • 5 beds 3 baths ∙ 2,387 Sqft ∙ Built 1994 5 beds 3 baths ∙ 2,387 Sqft ∙ Built 1994
    property image
    LEASED 06/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.69
    •  
  • 3413 Derby Court Fort Worth, TX 3
    • 4 beds 3 baths ∙ 2,414 Sqft ∙ Built 1993 4 beds 3 baths ∙ 2,414 Sqft ∙ Built 1993
    property image
    LEASED 11/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,725
    • $0.71
    •  
  • 8316 Orleans Lane Fort Worth, TX 4
    • 4 beds 3 baths ∙ 2,604 Sqft ∙ Built 2001 4 beds 3 baths ∙ 2,604 Sqft ∙ Built 2001
    property image
    LEASED 11/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.71
    •  
  • 7945 Val Verde Drive Fort Worth, TX 5
    • 4 beds 2 baths ∙ 2,560 Sqft ∙ Built 1989 4 beds 2 baths ∙ 2,560 Sqft ∙ Built 1989
    property image
    LEASED 09/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.74
    •  
PROPERTY LISTING DETAILS
Kelly Horne
Keller Williams Realty Ftworth
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14509681
Last Updated: 02/05/2021
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