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8309 Riversprings Drive Fort Worth, TX 76053

3 Beds 2 Baths 1,404 sqft Built 2003

$285,000

List Price

$1,590

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 2003
  • Price/Sqft : $202.99
  • 9 Days on Market
  • MLS # : 14478064
  • Updated Date : 12/03/2020 at 22:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,404 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Realty

Listing Agent's Description

Meticulously maintained and updated! Split bedrooms, bathrooms beautifully updated. Spacious living room has stone fireplace with live edge mesquite wood mantel. Galley kitchen with all new appliances, farmhouse sink, granite countertop, and tile backsplash. 42 inch cabinets. Backyard oasis with amazing covered patio with 2 ceiling fans and mister, beautiful flagstone.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • . 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)

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
 

$256,500$313,500$285,000

PURCHASE PRICE

$1,431$1,749$1,590

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,590
EXPENSES Loan Payment -$1,052
Property Tax -$653
Property Insurance -$108
HOA -$18
Property Management Fees -$99
CASH FLOW
-$340

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.

$285,000

PROJECTED PRICE

$1,590

PROJECTED RENT

0.56%

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-$8.0k-$6.0k-$4.0k-$2.0k$0.0$2.0k

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$81,275

INVESTMENT

$81,275

Down Payment
$71,250
Rehab Estimate
$5,750
Closing Costs
$4,275

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,052

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $71,250
Loan Amount $213,750
See What Happens When You Reinvest Cash Flow

0.33

YEARS SAVED

$214

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,590

    LIST RENT
  • $1.13

    LIST RENT PER SQFT
  • $1,580

    COMP ESTIMATED VALUE
  • $1.13

    COMP AVG. RENT PER SQFT
Comps Range
$1,495
1$1,4952$1,5903$1,7254$1,7505$1,750
$1,750
RENT COMPS ANALYSIS
  • 8309 Riversprings Drive Fort Worth, TX 2
    • 3 beds 2 baths ∙ 1,404 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,404 Sqft ∙ Built 2003
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,590
    • $1.13
    •  
  • 3220 Silent Creek Trail Fort Worth, TX 1
    • 3 beds 2 baths ∙ 1,372 Sqft ∙ Built 2001 3 beds 2 baths ∙ 1,372 Sqft ∙ Built 2001
    property image
    LEASED 12/08/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $1.09
    •  
  • 8305 Bowspirit Lane Fort Worth, TX 3
    • 3 beds 2 baths ∙ 1,507 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,507 Sqft ∙ Built 2003
    property image
    LEASED 08/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,725
    • $1.14
    •  
  • 8249 Fall Crest Drive Fort Worth, TX 4
    • 3 beds 2 baths ∙ 1,545 Sqft ∙ Built 2007 3 beds 2 baths ∙ 1,545 Sqft ∙ Built 2007
    property image
    LEASED 02/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $1.13
    •  
  • 8240 Fall Crest Drive Fort Worth, TX 5
    • 3 beds 2 baths ∙ 1,533 Sqft ∙ Built 2007 3 beds 2 baths ∙ 1,533 Sqft ∙ Built 2007
    property image
    LEASED 07/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $1.14
    •  
PROPERTY LISTING DETAILS
Sandy Blundell
Keller Williams Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14478064
Last Updated: 12/03/2020
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