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8224 Misty Water Drive Fort Worth, TX 76131

4 Beds 3 Baths 2,503 sqft Built 2011

$279,900

List Price

$2,000

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

October 30, 2020 RECENTLY ADDED
FACTS
  • Built In 2011
  • Price/Sqft : $111.83
  • 5 Days on Market
  • MLS # : 14459682
  • Updated Date : 10/30/2020 at 17:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,503 sqft
  • Baths : 2 full , 1 half
Listing Agent

Remington Team Realty, Llc

Listing Agent's Description

Amazing well maintained 2 story 4-2.5-2 Brick and Stone home nestled the Bar C Ranch* Subdivision. This home has a huge kitchen with Granite countertops that wrap around creating a large Bkfst Bar that opens up to the spacious and bright den. The kitchen boasts plenty of cabinets for your culinary wares, as well as a walk in pantry. Owners suite is on 1st floor w sep vanities, garden tub, sep shower and lrg walk in closet. a waterfall staircase w wrought iron spindles lead you to the 2nd floor where you will find the large game room and 3 more bedrms. Each have custom closet shelving. The backyard has a covered patio for your entertaining needs. This home is a must see to appreciate all of the amenities.

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: The Bar Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260kPrice in $104k265k

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

Neighborhood: The Bar Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700Rent in $9191760

* 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
Comanche Springs Elementary School Primary Regular 586 34 5
Prairie Vista Middle School Middle Regular 866 53 5
Saginaw High School High Regular 1,785 113 6

Comanche Springs Elementary School

  • Education Level: Primary
  • # of students: 586
  • # of teachers: 34
5
GreatSchools Rating

Prairie Vista Middle School

  • Education Level: Middle
  • # of students: 866
  • # of teachers: 53
5
GreatSchools Rating

Saginaw High School

  • Education Level: High
  • # of students: 1,785
  • # of teachers: 113
6
GreatSchools Rating
 

$251,910$307,890$279,900

PURCHASE PRICE

$1,800$2,200$2,000

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,000
EXPENSES Loan Payment -$1,033
Property Tax -$642
Property Insurance -$172
HOA -$73
Property Management Fees -$99
CASH FLOW
-$18

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.

$279,900

PROJECTED PRICE

$2,000

PROJECTED RENT

0.71%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 4.6%
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$800k

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$79,924

INVESTMENT

$79,924

Down Payment
$69,975
Rehab Estimate
$5,750
Closing Costs
$4,199

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,033

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $69,975
Loan Amount $209,925
See What Happens When You Reinvest Cash Flow

3.83

YEARS SAVED

$12,215

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,000

    LIST RENT
  • $0.8

    LIST RENT PER SQFT
  • $2,084

    COMP ESTIMATED VALUE
  • $0.83

    COMP AVG. RENT PER SQFT
Comps Range
$1,875
1$1,8752$1,8753$2,0004$2,2005$2,250
$2,250
RENT COMPS ANALYSIS
  • 8224 Misty Water Drive Fort Worth, TX 3
    • 4 beds 3 baths ∙ 2,503 Sqft ∙ Built 2011 4 beds 3 baths ∙ 2,503 Sqft ∙ Built 2011
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.80
    •  
  • 509 Branding Iron Trail Fort Worth, TX 1
    • 4 beds 3 baths ∙ 2,399 Sqft ∙ Built 2011 4 beds 3 baths ∙ 2,399 Sqft ∙ Built 2011
    LEASED 05/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,875
    • $0.78
    •  
  • 445 Brady Creek Road Fort Worth, TX 2
    • 4 beds 3 baths ∙ 2,395 Sqft ∙ Built 2015 4 beds 3 baths ∙ 2,395 Sqft ∙ Built 2015
    LEASED 08/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,875
    • $0.78
    •  
  • 8125 Wildwest Drive Fort Worth, TX 4
    • 4 beds 3 baths ∙ 2,510 Sqft ∙ Built 2017 4 beds 3 baths ∙ 2,510 Sqft ∙ Built 2017
    LEASED 10/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.88
    •  
  • 8721 Antelope Flat Lane Fort Worth, TX 5
    • 4 beds 3 baths ∙ 2,522 Sqft ∙ Built 2020 4 beds 3 baths ∙ 2,522 Sqft ∙ Built 2020
    LEASED 06/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $0.89
    •  
PROPERTY LISTING DETAILS
Andrea Cassata
Remington Team Realty, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14459682
Last Updated: 10/30/2020
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