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8300 Bowspirit Lane Fort Worth, TX 76053

3 Beds 2 Baths 2,014 sqft Built 2006

$274,900

List Price

$1,860

$1.7K - $2K

Rent Est.

PROPERTY INFO

November 07, 2020 RECENTLY ADDED
FACTS
  • Built In 2006
  • Price/Sqft : $136.49
  • 2 Days on Market
  • MLS # : 14457370
  • Updated Date : 11/07/2020 at 00:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,014 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Realty

Listing Agent's Description

Fabulous home with stylish design touches including beautiful stonework facade, arched passages, crown molding, and more. Spacious living room, open to kitchen, with fireplace, high ceiling, and lots of natural light. Kitchen with ample counter space and abundant storage in cabinets & pantry as well as tile backsplash and stainless appliances. Split main bedroom with vaulted ceiling and en suite with dual vanities, large jetted tub, separate shower, and walk-in closet. Backyard features expansive covered patio. Convenient to Loop 820 and near River Trails and Mallard Cove parks with trails and numerous 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: Lakes of River Trails North

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $113k336k

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

Neighborhood: Lakes of River Trails North

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100011001200130014001500160017001800190020002100Rent in $9852171

* 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
Hurst Hills Elementary School Primary Regular 521 34 8
Hurst Hills Elementary School Middle Regular 521 34 8
Hurst Junior High School High Regular 1,052 60 7

Hurst Hills Elementary School

  • Education Level: Primary
  • # of students: 521
  • # of teachers: 34
8
GreatSchools Rating

Hurst Hills Elementary School

  • Education Level: Middle
  • # of students: 521
  • # of teachers: 34
8
GreatSchools Rating

Hurst Junior High School

  • Education Level: High
  • # of students: 1,052
  • # of teachers: 60
7
GreatSchools Rating
 

$247,410$302,390$274,900

PURCHASE PRICE

$1,674$2,046$1,860

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,860
EXPENSES Loan Payment -$1,014
Property Tax -$630
Property Insurance -$144
HOA -$15
Property Management Fees -$99
CASH FLOW
-$42

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.

$274,900

PROJECTED PRICE

$1,860

PROJECTED RENT

0.68%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 9.1%
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

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$200k$400k$600k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$78,599

INVESTMENT

$78,599

Down Payment
$68,725
Rehab Estimate
$5,750
Closing Costs
$4,124

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,014

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $68,725
Loan Amount $206,175
See What Happens When You Reinvest Cash Flow

3.58

YEARS SAVED

$11,002

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,860

    LIST RENT
  • $0.92

    LIST RENT PER SQFT
  • $1,888

    COMP ESTIMATED VALUE
  • $0.94

    COMP AVG. RENT PER SQFT
Comps Range
$1,860
1$1,8602$1,8753$1,9004$1,9005$1,900
$1,900
RENT COMPS ANALYSIS
  • 8300 Bowspirit Lane Fort Worth, TX 1
    • 3 beds 2 baths ∙ 2,014 Sqft ∙ Built 2006 3 beds 2 baths ∙ 2,014 Sqft ∙ Built 2006
    • Rent
    • Rent Per SQFT
    •  
    • $1,860
    • $0.92
    •  
  • 8836 Tigris Trail Fort Worth, TX 2
    • 3 beds 3 baths ∙ 2,015 Sqft ∙ Built 1992 3 beds 3 baths ∙ 2,015 Sqft ∙ Built 1992
    LEASED 04/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,875
    • $0.93
    •  
  • 8234 Winter Falls Trail Fort Worth, TX 3
    • 3 beds 2 baths ∙ 2,043 Sqft ∙ Built 2006 3 beds 2 baths ∙ 2,043 Sqft ∙ Built 2006
    LEASED 12/27/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.93
    •  
  • 8324 Winter Falls Trail Fort Worth, TX 4
    • 4 beds 2 baths ∙ 1,968 Sqft ∙ Built 2005 4 beds 2 baths ∙ 1,968 Sqft ∙ Built 2005
    LEASED 05/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.97
    •  
  • 8348 Fall Crest Drive Fort Worth, TX 5
    • 4 beds 2 baths ∙ 2,058 Sqft ∙ Built 2005 4 beds 2 baths ∙ 2,058 Sqft ∙ Built 2005
    LEASED 07/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.92
    •  
PROPERTY LISTING DETAILS
Brenda Blaser
Keller Williams Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14457370
Last Updated: 11/07/2020
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