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833 Northwood Road Fort Worth, TX 76107

4 Beds 4 Baths 2,710 sqft Built 2020

$734,999

List Price

$2,300

$2.1K - $2.5K

Rent Est.

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
October 27, 2020 RECENTLY ADDED
FACTS
  • Built In 2020
  • Price/Sqft : $271.22
  • 8 Days on Market
  • MLS # : 14344528
  • Updated Date : 10/28/2020 at 15:16
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,710 sqft
  • Baths : 3 full , 1 half
Listing Agent

Century 21 Mike Bowman, Inc.

Listing Agent's Description

BEAUTIFUL HARD TO FIND NEW CUSTOM IS ZIP 76107 AT ITS FINEST & AN AWSOME OPPORTUNITY IN CRESTWOOD. MINUTES TO DOWNTOWN, CULTURAL DISTRICT, RESTAURANTS, PARKS, MEDICAL DISTRICT. FLEXIBLE 4 BED 3.5 BATH W 3 WAY SPLIT LENDS ITSELF TO MULTI GENERATIONAL LIVING. INTERIOR ADORNED W KILCHER LIGHTING. Kitchen is Chefs & entertainers delight w anti microbial counter tops, numerous cabinets, & prep space galore, plus an island w seating. Master suite has free standing tub, roomy shower, Howard Elliot mirrors, walk in closet. Bed 2 is downstairs, en suite & private. Beds 3 & 4 are upstairs w shared bath. Bed 4 has large sitting area. OUTDOOR LIVING W FIREPLACE & INFRATECH HEATERS. Buyer to verify square footage & schools.

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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: Crestwood

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450kPrice in $104k485k

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

Neighborhood: Crestwood

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000110012001300140015001600170018001900200021002200Rent in $9192209

* 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
North Hi Mount Elementary School Primary Regular 364 21 6
W.c. Stripling Middle School Middle Regular 690 41 6
Arlington Heights High School High Regular 1,831 114 4

North Hi Mount Elementary School

  • Education Level: Primary
  • # of students: 364
  • # of teachers: 21
6
GreatSchools Rating

W.c. Stripling Middle School

  • Education Level: Middle
  • # of students: 690
  • # of teachers: 41
6
GreatSchools Rating

Arlington Heights High School

  • Education Level: High
  • # of students: 1,831
  • # of teachers: 114
4
GreatSchools Rating
 

$661,499$808,499$734,999

PURCHASE PRICE

$2,070$2,530$2,300

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,300
EXPENSES Loan Payment -$2,712
Property Tax -$1,685
Property Insurance -$184
Property Management Fees -$99
CASH FLOW
-$2,380

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 9% of earned rent to cover both maintenance and periods of vacancy.

$734,999

PROJECTED PRICE

$2,300

PROJECTED RENT

0.31%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 8.7%
Maintenance Year (1-5) 3.00%
Vacancy 6.39%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$500k$1.0M$1.5M$2.0M

PROJECTED ANNUAL CASH FLOW

11530-$35k-$30k-$25k-$20k-$15k-$10k-$5.0k$0.0

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$196,775

INVESTMENT

$196,775

Down Payment
$183,750
Rehab Estimate
$2,000
Closing Costs
$11,025

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,712

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $183,750
Loan Amount $551,249
See What Happens When You Reinvest Cash Flow

-0.33

YEARS SAVED

$8,930

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,300

    LIST RENT
  • $0.85

    LIST RENT PER SQFT
  • $3,408

    COMP ESTIMATED VALUE
  • $1.26

    COMP AVG. RENT PER SQFT
Comps Range
$2,300
1$2,3002$2,9503$3,3504$3,3505$3,500
$3,500
RENT COMPS ANALYSIS
  • 833 Northwood Road Fort Worth, TX 1
    • 4 beds 4 baths ∙ 2,710 Sqft ∙ Built 2020 4 beds 4 baths ∙ 2,710 Sqft ∙ Built 2020
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.85
    •  
  • 3320 Hamilton Avenue Fort Worth, TX 2
    • 3 beds 3 baths ∙ 2,550 Sqft ∙ Built 2013 3 beds 3 baths ∙ 2,550 Sqft ∙ Built 2013
    property image
    LEASED 04/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,950
    • $1.16
    •  
  • 3909 Modlin Avenue Fort Worth, TX 3
    • 3 beds 3 baths ∙ 2,461 Sqft ∙ Built 2003 3 beds 3 baths ∙ 2,461 Sqft ∙ Built 2003
    property image
    LEASED 05/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,350
    • $1.36
    •  
  • 3304 W 6th Street Fort Worth, TX 4
    • 3 beds 4 baths ∙ 2,763 Sqft ∙ Built 2004 3 beds 4 baths ∙ 2,763 Sqft ∙ Built 2004
    property image
    LEASED 10/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,350
    • $1.21
    •  
  • 3720 Clarke Avenue Fort Worth, TX 5
    • 3 beds 3 baths ∙ 2,691 Sqft ∙ Built 2003 3 beds 3 baths ∙ 2,691 Sqft ∙ Built 2003
    property image
    LEASED 07/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $1.30
    •  
PROPERTY LISTING DETAILS
Tina Moldenhauer
Century 21 Mike Bowman, Inc.
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14344528
Last Updated: 10/28/2020
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