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8112 Island Park Court Fort Worth, TX 76137

5 Beds 3 Baths 3,141 sqft Built 1995

$374,000

List Price

$2,250

$2K - $2.5K

Rent Est.

PROPERTY INFO

January 30, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1995
  • Price/Sqft : $119.07
  • 3 Days on Market
  • MLS # : 14509077
  • Updated Date : 01/29/2021 at 23:00
CONSTRUCTION
  • Beds : 5
  • Floor Size : 3,141 sqft
  • Baths : 3 full
Listing Agent

Exp Realty

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: Park Glen

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $104k336k

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

Neighborhood: Park Glen

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
Park Glen Elementary School Primary Regular 546 38 7
Central High School High Regular 2,573 140 8
Central High School High Unknown NA

Park Glen Elementary School

  • Education Level: Primary
  • # of students: 546
  • # of teachers: 38
7
GreatSchools Rating

Central High School

  • Education Level: High
  • # of students: 2,573
  • # of teachers: 140
8
GreatSchools Rating

Central High School

  • Education Level: High
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$336,600$411,400$374,000

PURCHASE PRICE

$2,025$2,475$2,250

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,250
EXPENSES Loan Payment -$1,299
Property Tax -$857
Property Insurance -$209
HOA -$6
Property Management Fees -$99
CASH FLOW
-$220

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.

$374,000

PROJECTED PRICE

$2,250

PROJECTED RENT

0.60%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 8.4%
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-$8.0k-$6.0k-$4.0k-$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$1.0M$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$104,860

INVESTMENT

$104,860

Down Payment
$93,500
Rehab Estimate
$5,750
Closing Costs
$5,610

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$1,299

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $93,500
Loan Amount $280,500
See What Happens When You Reinvest Cash Flow

1.5

YEARS SAVED

$3,272

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,250

    LIST RENT
  • $0.72

    LIST RENT PER SQFT
  • $2,222

    COMP ESTIMATED VALUE
  • $0.71

    COMP AVG. RENT PER SQFT
Comps Range
$1,950
1$1,9502$1,9953$2,2504$2,3005$2,395
$2,395
RENT COMPS ANALYSIS
  • 8112 Island Park Court Fort Worth, TX 3
    • 5 beds 3 baths ∙ 3,141 Sqft ∙ Built 1995 5 beds 3 baths ∙ 3,141 Sqft ∙ Built 1995
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $0.72
    •  
  • 7808 Silver Sage Drive Fort Worth, TX 1
    • 4 beds 3 baths ∙ 2,924 Sqft ∙ Built 1997 4 beds 3 baths ∙ 2,924 Sqft ∙ Built 1997
    property image
    LEASED 07/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.67
    •  
  • 8008 Rushmore Road Fort Worth, TX 2
    • 4 beds 3 baths ∙ 2,802 Sqft ∙ Built 1993 4 beds 3 baths ∙ 2,802 Sqft ∙ Built 1993
    property image
    LEASED 09/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.71
    •  
  • 7804 Rushmore Court Fort Worth, TX 4
    • 5 beds 4 baths ∙ 3,200 Sqft ∙ Built 2001 5 beds 4 baths ∙ 3,200 Sqft ∙ Built 2001
    property image
    LEASED 01/01/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.72
    •  
  • 5529 Bandelier Trail Fort Worth, TX 5
    • 5 beds 4 baths ∙ 3,278 Sqft ∙ Built 2002 5 beds 4 baths ∙ 3,278 Sqft ∙ Built 2002
    property image
    LEASED 05/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,395
    • $0.73
    •  
PROPERTY LISTING DETAILS
Robert Michael
Exp Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14509077
Last Updated: 01/29/2021
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