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8224 Flythe Mill Road Fort Worth, TX 76120

5 Beds 4 Baths 2,403 sqft Built 2017

$317,900

List Price

$1,950

$1.8K - $2.1K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 2017
  • Price/Sqft : $132.29
  • 9 Days on Market
  • MLS # : 14481845
  • Updated Date : 12/12/2020 at 10:24
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,403 sqft
  • Baths : 3 full , 1 half
Listing Agent

Red Team Real Estate

Listing Agent's Description

This home boasts soft tones accented by natural light in an open floor plan with elevated ceilings all on a spacious corner lot. The open kitchen has granite counters, a deep stainless steel sink, and a recently upgraded smooth surface range. Large downstairs owner's suite has en suite bathroom featuring a garden tub, dual sinks, a walk-in closet, and great storage. LOTS of EXTRAS incl covered patio, outdoor kitchen, huge storage shed on concrete pad, surveillance cameras, and more. Come see this fabulous home today, as you don't want to miss your chance to make it your HOME. Buyer responsible for verifying measurements.

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: 76120

ZipNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240kPrice in $88k243k

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

Zip Code: 76120

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
Bill J. Elliott Elementary School Primary Regular 650 38 5
Handley Middle School Middle Regular 521 42 4
Eastern Hills High School High Regular 1,215 96 2

Bill J. Elliott Elementary School

  • Education Level: Primary
  • # of students: 650
  • # of teachers: 38
5
GreatSchools Rating

Handley Middle School

  • Education Level: Middle
  • # of students: 521
  • # of teachers: 42
4
GreatSchools Rating

Eastern Hills High School

  • Education Level: High
  • # of students: 1,215
  • # of teachers: 96
2
GreatSchools Rating
 

$286,110$349,690$317,900

PURCHASE PRICE

$1,755$2,145$1,950

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,950
EXPENSES Loan Payment -$1,173
Property Tax -$729
Property Insurance -$166
HOA -$25
Property Management Fees -$99
CASH FLOW
-$241

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.

$317,900

PROJECTED PRICE

$1,950

PROJECTED RENT

0.61%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.74%
Appreciation Year (1-5) 7.8%
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-$8.0k-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$89,994

INVESTMENT

$89,994

Down Payment
$79,475
Rehab Estimate
$5,750
Closing Costs
$4,769

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,173

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $79,475
Loan Amount $238,425
See What Happens When You Reinvest Cash Flow

1.17

YEARS SAVED

$2,045

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,950

    LIST RENT
  • $0.81

    LIST RENT PER SQFT
  • $1,922

    COMP ESTIMATED VALUE
  • $0.8

    COMP AVG. RENT PER SQFT
Comps Range
$1,950
1$1,9502$1,9953$1,9954$2,000
$2,000
RENT COMPS ANALYSIS
  • 8224 Flythe Mill Road Fort Worth, TX 1
    • 5 beds 4 baths ∙ 2,403 Sqft ∙ Built 2017 5 beds 4 baths ∙ 2,403 Sqft ∙ Built 2017
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.81
    •  
  • 8301 Flythe Mill Road Fort Worth, TX 2
    • 5 beds 4 baths ∙ 2,314 Sqft ∙ Built 2017 5 beds 4 baths ∙ 2,314 Sqft ∙ Built 2017
    LEASED 12/11/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.86
    •  
  • 2725 Gardendale Drive Fort Worth, TX 3
    • 4 beds 3 baths ∙ 2,515 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,515 Sqft ∙ Built 2005
    LEASED 09/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.79
    •  
  • 2315 Springmere Drive Arlington, TX 4
    • 4 beds 3 baths ∙ 2,667 Sqft ∙ Built 2001 4 beds 3 baths ∙ 2,667 Sqft ∙ Built 2001
    LEASED 10/07/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.75
    •  
PROPERTY LISTING DETAILS
Erika Hashem
Red Team Real Estate
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14481845
Last Updated: 12/12/2020
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