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8062 Kathleen Drive Fort Worth, TX 76137

3 Beds 2 Baths 1,678 sqft Built 1997

INVESTimate

$220,000

List Price

$1,610

$1,449 - $1,771

Rent Est.

$245,696  ( +11.68%)   1 YR EST. FORECAST

PROPERTY INFO

August 24, 2020 RECENTLY ADDED
FACTS
  • Built In 1997
  • Price/Sqft : $131.11
  • 3 Days on Market
  • MLS # : 14419603
  • Updated Date : 08/25/2020 at 02:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,678 sqft
  • Baths : 2 full
Listing Agent

The Michael Group Real Estate

Listing Agent's Description

Chiefs Delight! Large open kitchen with a lot of counter space and cabinets. Kitchen has bar that you can eat at also. Laundry Room has plenty of room for that freezer you wanted. Living room has a corner fireplace and is large. Master bedroom has a separate tub and shower with his and her sinks. Nice size back yard. Renters lease is up October 31, 2020. NEW GARAGE DOOR AND ROOF WAS INSTALLED

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
 

$198,000$242,000$220,000

PURCHASE PRICE

$1,449$1,771$1,610

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,610
EXPENSES Loan Payment -$812
Property Tax -$504
Property Insurance -$124
Property Management Fees -$99
CASH FLOW
$71

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.

$220,000

PROJECTED PRICE

$1,610

PROJECTED RENT

0.73%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.74%
Appreciation Year (1-5) 11.68%
Maintenance Year (1-5) 8.00%
Vacancy 6.69%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$64,050

INVESTMENT

$64,050

Down Payment
$55,000
Rehab Estimate
$5,750
Closing Costs
$3,300

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$812

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $55,000
Loan Amount $165,000
See What Happens When You Reinvest Cash Flow

5.75

YEARS SAVED

$17,017

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,610

    LIST RENT
  • $0.96

    LIST RENT PER SQFT
  • $1,611

    COMP ESTIMATED VALUE
  • $0.96

    COMP AVG. RENT PER SQFT
Comps Range
$1,550
1$1,5502$1,6103$1,6504$1,6505$1,650
$1,650
RENT COMPS ANALYSIS
  • 8062 Kathleen Drive Fort Worth, TX 2
    • 3 beds 2 baths ∙ 1,678 Sqft ∙ Built 1997 3 beds 2 baths ∙ 1,678 Sqft ∙ Built 1997
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,610
    • $0.96
    •  
  • 4429 Windwillow Court Fort Worth, TX 1
    • 3 beds 2 baths ∙ 1,663 Sqft ∙ Built 1985 3 beds 2 baths ∙ 1,663 Sqft ∙ Built 1985
    property image
    LEASED 01/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.93
    •  
  • 7924 Firefly Drive Fort Worth, TX 3
    • 3 beds 2 baths ∙ 1,746 Sqft ∙ Built 1986 3 beds 2 baths ∙ 1,746 Sqft ∙ Built 1986
    property image
    LEASED 09/09/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.95
    •  
  • 8100 Jolie Drive Fort Worth, TX 4
    • 3 beds 2 baths ∙ 1,590 Sqft ∙ Built 1997 3 beds 2 baths ∙ 1,590 Sqft ∙ Built 1997
    property image
    LEASED 04/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.04
    •  
  • 8008 Jolie Drive Fort Worth, TX 5
    • 3 beds 2 baths ∙ 1,788 Sqft ∙ Built 1997 3 beds 2 baths ∙ 1,788 Sqft ∙ Built 1997
    property image
    LEASED 03/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.92
    •  
PROPERTY LISTING DETAILS
Mary Earls
The Michael Group Real Estate
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14419603
Last Updated: 08/25/2020
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