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8236 Pine Meadows Drive Fort Worth, TX 76244

3 Beds 3 Baths 2,635 sqft Built 2017

$390,000

List Price

$1,890

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 20, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2017
  • Price/Sqft : $148.01
  • 4 Days on Market
  • MLS # : 14530296
  • Updated Date : 03/20/2021 at 18:21
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,635 sqft
  • Baths : 3 full
Listing Agent

Keller Williams Realty Ftworth

Listing Agent's Description

Built in 2017, this gorgeous home is located in the Pine Meadows subdivision located within the prestigious Keller School District. All schools from elementary to High School are within walking distance. Beautiful landscape adds a lot to the look of this home. New floors and paint make this home a “turn-key” opportunity for a new buyer. The large kitchen is separated from the family room by a large kitchen island thus giving the home an open feel. The second floor hosts a Large media room with a full bath and 2 bedrooms. Although this home says its a 3 bedroom, there is a 4 room that can be a study or an additional bedroom accompanied by a full bathroom downstairs along with the master bedroom.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • # 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)

PRICE & RENT TRENDS

Zip Code: 76244

ZipNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360k380k400kPrice in $123k413k

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

Zip Code: 76244

ZipNIR Market*CityMarket2010Year20002019 Q212001400160018002000220024002600Rent in $11262706

* 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
Heritage Elementary School Primary Regular 580 42 4
Fossil Ridge High School High Regular 2,308 133 7
Fossil Ridge High School High Unknown NA

Heritage Elementary School

  • Education Level: Primary
  • # of students: 580
  • # of teachers: 42
4
GreatSchools Rating

Fossil Ridge High School

  • Education Level: High
  • # of students: 2,308
  • # of teachers: 133
7
GreatSchools Rating

Fossil Ridge High School

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

$351,000$429,000$390,000

PURCHASE PRICE

$1,701$2,079$1,890

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,890
EXPENSES Loan Payment -$1,355
Property Tax -$894
Property Insurance -$179
HOA -$30
Property Management Fees -$99
CASH FLOW
-$668

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.

$390,000

PROJECTED PRICE

$1,890

PROJECTED RENT

0.48%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 7.0%
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-$14k-$12k-$10k-$8.0k-$6.0k-$4.0k-$2.0k$0.0

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$109,100

INVESTMENT

$109,100

Down Payment
$97,500
Rehab Estimate
$5,750
Closing Costs
$5,850

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 100% down payment or higher enables the proceeds from the asset to cover all costs.

$1,355

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $97,500
Loan Amount $292,500
See What Happens When You Reinvest Cash Flow

-0.08

YEARS SAVED

-$12

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,890

    LIST RENT
  • $0.72

    LIST RENT PER SQFT
  • $2,049

    COMP ESTIMATED VALUE
  • $0.78

    COMP AVG. RENT PER SQFT
Comps Range
$1,800
1$1,8002$1,8903$1,9504$2,0955$2,100
$2,100
RENT COMPS ANALYSIS
  • 8236 Pine Meadows Drive Keller, TX 2
    • 3 beds 3 baths ∙ 2,635 Sqft ∙ Built 2017 3 beds 3 baths ∙ 2,635 Sqft ∙ Built 2017
    • Rent
    • Rent Per SQFT
    •  
    • $1,890
    • $0.72
    •  
  • 8309 Spruce Meadows Drive Fort Worth, TX 1
    • 3 beds 3 baths ∙ 2,436 Sqft ∙ Built 2017 3 beds 3 baths ∙ 2,436 Sqft ∙ Built 2017
    LEASED 01/19/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.74
    •  
  • 4224 Cave Cove Court Fort Worth, TX 3
    • 4 beds 3 baths ∙ 2,551 Sqft ∙ Built 1999 4 beds 3 baths ∙ 2,551 Sqft ∙ Built 1999
    LEASED 02/25/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.76
    •  
  • 9037 Golden Sunset Trail Fort Worth, TX 4
    • 4 beds 3 baths ∙ 2,506 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,506 Sqft ∙ Built 2005
    LEASED 03/15/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,095
    • $0.84
    •  
  • 3944 Diamond Ridge Drive Fort Worth, TX 5
    • 4 beds 3 baths ∙ 2,744 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,744 Sqft ∙ Built 2003
    LEASED 06/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.77
    •  
PROPERTY LISTING DETAILS
Sonny Martinez
Keller Williams Realty Ftworth
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14530296
Last Updated: 03/20/2021
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