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8336 Cloverglen Lane Fort Worth, TX 76123

4 Beds 2 Baths 1,819 sqft Built 1986

$200,000

List Price

$1,580

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

December 10, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1986
  • Price/Sqft : $109.95
  • 4 Days on Market
  • MLS # : 14483982
  • Updated Date : 12/12/2020 at 18:36
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,819 sqft
  • Baths : 2 full
Listing Agent

Century 21 Mike Bowman, Inc.

Listing Agent's Description

MULTIPLE OFFERS RECEIVED. HIGHEST AND BEST OFFERS DUE BY SUNDAY DECEMBER 13TH AT 7PM. Super clean, Updated 4 bedroom 2 bathroom home that is move in ready! New flooring, New paint, New roof, New water heater, and more! This home has a HUGE living room with vaulted ceilings that is great for entertaining. Roomy kitchen with eat in area and an additional dining area. Split bedroom floorpan for added privacy. Large master bedroom and updated tile showers. Secluded backyard. Don't miss this opportunity, schedule your showing now!

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: Southgate

NeighborhoodNIR Market*CityMarket2010Year20002019110k120k130k140k150k160k170k180k190k200k210k220k230k240kPrice in $102k243k

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

Neighborhood: Southgate

NeighborhoodNIR Market*CityMarket2010Year20002019 Q290010001100120013001400150016001700Rent in $8601734

* 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
Jackie Carden Elementary School Primary Regular 485 36 5
Crowley Middle School Middle Regular 615 45 4
North Crowley High School High Regular 2,442 148 4

Jackie Carden Elementary School

  • Education Level: Primary
  • # of students: 485
  • # of teachers: 36
5
GreatSchools Rating

Crowley Middle School

  • Education Level: Middle
  • # of students: 615
  • # of teachers: 45
4
GreatSchools Rating

North Crowley High School

  • Education Level: High
  • # of students: 2,442
  • # of teachers: 148
4
GreatSchools Rating
 

$180,000$220,000$200,000

PURCHASE PRICE

$1,422$1,738$1,580

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,580
EXPENSES Loan Payment -$738
Property Tax -$458
Property Insurance -$132
Property Management Fees -$99
CASH FLOW
$152

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.

$200,000

PROJECTED PRICE

$1,580

PROJECTED RENT

0.79%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 9.9%
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$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

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$58,750

INVESTMENT

$58,750

Down Payment
$50,000
Rehab Estimate
$5,750
Closing Costs
$3,000

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$738

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $50,000
Loan Amount $150,000
See What Happens When You Reinvest Cash Flow

8.17

YEARS SAVED

$24,937

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,580

    LIST RENT
  • $0.87

    LIST RENT PER SQFT
  • $1,623

    COMP ESTIMATED VALUE
  • $0.89

    COMP AVG. RENT PER SQFT
Comps Range
$1,475
1$1,4752$1,4993$1,5804$1,5995$1,695
$1,695
RENT COMPS ANALYSIS
  • 8336 Cloverglen Lane Fort Worth, TX 3
    • 4 beds 2 baths ∙ 1,819 Sqft ∙ Built 1986 4 beds 2 baths ∙ 1,819 Sqft ∙ Built 1986
    • Rent
    • Rent Per SQFT
    •  
    • $1,580
    • $0.87
    •  
  • 7912 Hot Springs Court Fort Worth, TX 1
    • 4 beds 2 baths ∙ 1,645 Sqft ∙ Built 1988 4 beds 2 baths ∙ 1,645 Sqft ∙ Built 1988
    LEASED 01/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,475
    • $0.90
    •  
  • 8409 Orleans Lane Fort Worth, TX 2
    • 3 beds 2 baths ∙ 1,756 Sqft ∙ Built 2001 3 beds 2 baths ∙ 1,756 Sqft ∙ Built 2001
    LEASED 03/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,499
    • $0.85
    •  
  • 8345 Orleans Lane Fort Worth, TX 4
    • 3 beds 2 baths ∙ 1,756 Sqft ∙ Built 2001 3 beds 2 baths ∙ 1,756 Sqft ∙ Built 2001
    LEASED 11/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,599
    • $0.91
    •  
  • 8508 Auburn Drive Fort Worth, TX 5
    • 3 beds 2 baths ∙ 1,857 Sqft ∙ Built 1996 3 beds 2 baths ∙ 1,857 Sqft ∙ Built 1996
    LEASED 09/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.91
    •  
PROPERTY LISTING DETAILS
Daniel Robbins
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 #: 14483982
Last Updated: 12/12/2020
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