Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

816 Cloverwood Drive Fort Worth, TX 76036

3 Beds 2 Baths 1,672 sqft Built 2019

$249,900

List Price

$1,530

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

January 07, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2019
  • Price/Sqft : $149.46
  • 4 Days on Market
  • MLS # : 14495790
  • Updated Date : 01/08/2021 at 15:51
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,672 sqft
  • Baths : 2 full
Listing Agent

Cecil B Real Estate

Listing Agent's Description

Almost new beautiful one story home with an open concept layout! You will absolutely love the kitchen, dining and living room combined area which provides the perfect space for those important family gatherings or for watching the big game! It boasts a split bedroom design for added privacy! Amazing larger than normal laundry and mud room! The ample backyard is perfect for grilling, and playing with the kids and pets! It also has the added perk of backing up to a green belt! An outdoor playground is also a few minutes walking distance from this home. Don't miss out, make your appointment today or attend the Open House scheduled for Saturday , January 9, 2021 from 12pm to 4pm!

SEE MORE

MARKET HIGHLIGHTS

  • # 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)
  • . Dallas has 7th largest concentration of high-tech jobs in the U.S. (Dallas Chamber)

PRICE & RENT TRENDS

Zip Code: 76036

ZipNIR Market*CityMarket2010Year20002019130k140k150k160k170k180k190k200k210k220k230k240kPrice in $122k243k

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

Zip Code: 76036

ZipNIR Market*CityMarket2010Year20002019 Q2115012001250130013501400145015001550160016501700Rent in $11261734

* 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
Sidney H. Poynter Elementary School Primary Regular 532 32 3
H.f. Stevens Middle School Middle Regular 912 59 3
Crowley High School High Regular 2,033 150 4

Sidney H. Poynter Elementary School

  • Education Level: Primary
  • # of students: 532
  • # of teachers: 32
3
GreatSchools Rating

H.f. Stevens Middle School

  • Education Level: Middle
  • # of students: 912
  • # of teachers: 59
3
GreatSchools Rating

Crowley High School

  • Education Level: High
  • # of students: 2,033
  • # of teachers: 150
4
GreatSchools Rating
 

$224,910$274,890$249,900

PURCHASE PRICE

$1,377$1,683$1,530

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,530
EXPENSES Loan Payment -$868
Property Tax -$573
Property Insurance -$124
HOA -$16
Property Management Fees -$99
CASH FLOW
-$150

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 14% of earned rent to cover both maintenance and periods of vacancy.

$249,900

PROJECTED PRICE

$1,530

PROJECTED RENT

0.61%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 6.5%
Maintenance Year (1-5) 8.00%
Vacancy 6.39%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k$700k

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$2.0k$0.0$2.0k$4.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$71,974

INVESTMENT

$71,974

Down Payment
$62,475
Rehab Estimate
$5,750
Closing Costs
$3,749

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$868

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $62,475
Loan Amount $187,425
See What Happens When You Reinvest Cash Flow

1.58

YEARS SAVED

$2,319

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,530

    LIST RENT
  • $0.92

    LIST RENT PER SQFT
  • $1,551

    COMP ESTIMATED VALUE
  • $0.93

    COMP AVG. RENT PER SQFT
Comps Range
$1,449
1$1,4492$1,5003$1,5304$1,6005$1,695
$1,695
RENT COMPS ANALYSIS
  • 816 Cloverwood Drive Fort Worth, TX 3
    • 3 beds 2 baths ∙ 1,672 Sqft ∙ Built 2019 3 beds 2 baths ∙ 1,672 Sqft ∙ Built 2019
    • Rent
    • Rent Per SQFT
    •  
    • $1,530
    • $0.92
    •  
  • 508 Nuffield Lane Fort Worth, TX 1
    • 3 beds 2 baths ∙ 1,527 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,527 Sqft ∙ Built 2002
    LEASED 04/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,449
    • $0.95
    •  
  • 532 Magdalen Avenue Fort Worth, TX 2
    • 3 beds 2 baths ∙ 1,526 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,526 Sqft ∙ Built 2002
    LEASED 12/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.98
    •  
  • 540 Keble Drive Fort Worth, TX 4
    • 3 beds 2 baths ∙ 1,836 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,836 Sqft ∙ Built 2003
    LEASED 11/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.87
    •  
  • 525 Nuffield Lane Fort Worth, TX 5
    • 3 beds 2 baths ∙ 1,868 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,868 Sqft ∙ Built 2002
    LEASED 03/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.91
    •  
PROPERTY LISTING DETAILS
Cecilio Bustamante
Cecil B Real Estate
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14495790
Last Updated: 01/08/2021
BESbswy