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8204 Smokey Creek Pass Fort Worth, TX 76179

3 Beds 2 Baths 1,316 sqft Built 2020

$235,900

List Price

$1,310

$1.2K - $1.4K

Rent Est.

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
October 30, 2020 RECENTLY ADDED
FACTS
  • Built In 2020
  • Price/Sqft : $179.26
  • 5 Days on Market
  • MLS # : 14463049
  • Updated Date : 10/30/2020 at 19:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,316 sqft
  • Baths : 2 full
Listing Agent

Lgi Homes

Listing Agent's Description

The Blanco is a charming, single-story home now available in the beautiful community of Quarter Horse Estates. The Blanco showcases three impressively sized bedrooms, two full baths and a large, open family room. Enjoy thousands of dollars of included upgrades throughout the home such as granite countertops, energy-efficient kitchen appliances, designer wood-style flooring and more. The Blanco comes complete with a fully fenced backyard, covered back patio and professional front yard landscaping.

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: 76179

ZipNIR Market*CityMarket2010Year20002019110k120k130k140k150k160k170k180k190k200k210k220k230k240kPrice in $104k243k

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

Zip Code: 76179

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
Bryson Elementary School Primary Regular 473 34 5
Wayside Middle School Middle Regular 943 52 6
Boswell High School High Regular 1,605 106 7

Bryson Elementary School

  • Education Level: Primary
  • # of students: 473
  • # of teachers: 34
5
GreatSchools Rating

Wayside Middle School

  • Education Level: Middle
  • # of students: 943
  • # of teachers: 52
6
GreatSchools Rating

Boswell High School

  • Education Level: High
  • # of students: 1,605
  • # of teachers: 106
7
GreatSchools Rating
 

$212,310$259,490$235,900

PURCHASE PRICE

$1,179$1,441$1,310

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,310
EXPENSES Loan Payment -$870
Property Tax -$574
Property Insurance -$103
HOA -$4
Property Management Fees -$99
CASH FLOW
-$341

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.

$235,900

PROJECTED PRICE

$1,310

PROJECTED RENT

0.56%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 7.5%
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$100k$200k$300k$400k$500k$600k$700k

PROJECTED ANNUAL CASH FLOW

11530-$7.0k-$6.0k-$5.0k-$4.0k-$3.0k-$2.0k-$1.0k$0.0$1.0k

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$64,514

INVESTMENT

$64,514

Down Payment
$58,975
Rehab Estimate
$2,000
Closing Costs
$3,539

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 75% down payment or higher enables the proceeds from the asset to cover all costs.

$870

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $58,975
Loan Amount $176,925
See What Happens When You Reinvest Cash Flow

0.08

YEARS SAVED

$20

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,310

    LIST RENT
  • $1

    LIST RENT PER SQFT
  • $1,309

    COMP ESTIMATED VALUE
  • $1

    COMP AVG. RENT PER SQFT
Comps Range
$1,310
1$1,3102$1,4503$1,4954$1,5255$1,595
$1,595
RENT COMPS ANALYSIS
  • 8204 Smokey Creek Pass Fort Worth, TX 1
    • 3 beds 2 baths ∙ 1,316 Sqft ∙ Built 2020 3 beds 2 baths ∙ 1,316 Sqft ∙ Built 2020
    • Rent
    • Rent Per SQFT
    •  
    • $1,310
    • $1.00
    •  
  • 5140 Waterview Court Fort Worth, TX 2
    • 3 beds 2 baths ∙ 1,490 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,490 Sqft ∙ Built 2006
    LEASED 01/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.97
    •  
  • 4808 Fishhook Court Fort Worth, TX 3
    • 3 beds 2 baths ∙ 1,509 Sqft ∙ Built 2001 3 beds 2 baths ∙ 1,509 Sqft ∙ Built 2001
    LEASED 05/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.99
    •  
  • 4521 Badlands Drive Fort Worth, TX 4
    • 3 beds 2 baths ∙ 1,461 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,461 Sqft ∙ Built 2006
    LEASED 03/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,525
    • $1.04
    •  
  • 632 Oak Hollow Trail Saginaw, TX 5
    • 3 beds 2 baths ∙ 1,635 Sqft ∙ Built 2001 3 beds 2 baths ∙ 1,635 Sqft ∙ Built 2001
    LEASED 11/22/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.98
    •  
PROPERTY LISTING DETAILS
Mona Hill
Lgi Homes
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14463049
Last Updated: 10/30/2020
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