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8336 Riversprings Drive Fort Worth, TX 76053

3 Beds 2 Baths 1,371 sqft Built 2002

$220,000

List Price

$1,500

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 05, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2002
  • Price/Sqft : $160.47
  • 3 Days on Market
  • MLS # : 14526310
  • Updated Date : 03/05/2021 at 13:08
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,371 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Arlington

Listing Agent's Description

Beautiful 3 bedroom 2 bathroom Lakes of River Trails home. Pride of ownership really shows on this home. The kitchen opens to the living room. Stainless steel kitchen sink is HUGE! Laminate wood floors in the living areas, carpet in the bedrooms, & tile in kitchen & the bathrooms. Master bedroom is split from the guest bedrooms. Primary bath features separate tub & shower & dual sinks. Roof is less then one year old. Backyard features a tranquil water feature & oversized concrete patio.

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

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
L D. Bell High School High Regular 2,145 125 6
L D. Bell High School High Unknown NA

L D. Bell High School

  • Education Level: High
  • # of students: 2,145
  • # of teachers: 125
6
GreatSchools Rating

L D. Bell High School

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

$198,000$242,000$220,000

PURCHASE PRICE

$1,350$1,650$1,500

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,500
EXPENSES Loan Payment -$764
Property Tax -$504
Property Insurance -$106
HOA -$25
Property Management Fees -$99
CASH FLOW
$1

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.

$220,000

PROJECTED PRICE

$1,500

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$100k$200k$300k$400k$500k$600k$700k$800k

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k

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$64,050

INVESTMENT

$64,050

Down Payment
$55,000
Rehab Estimate
$5,750
Closing Costs
$3,300

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$764

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $55,000
Loan Amount $165,000
See What Happens When You Reinvest Cash Flow

4.33

YEARS SAVED

$9,115

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,500

    LIST RENT
  • $1.09

    LIST RENT PER SQFT
  • $1,539

    COMP ESTIMATED VALUE
  • $1.12

    COMP AVG. RENT PER SQFT
Comps Range
$1,500
1$1,5002$1,5503$1,5954$1,7255$1,750
$1,750
RENT COMPS ANALYSIS
  • 8336 Riversprings Drive Fort Worth, TX 1
    • 3 beds 2 baths ∙ 1,371 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,371 Sqft ∙ Built 2002
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $1.09
    •  
  • 8812 Pedernales Trail Fort Worth, TX 2
    • 3 beds 2 baths ∙ 1,440 Sqft ∙ Built 1993 3 beds 2 baths ∙ 1,440 Sqft ∙ Built 1993
    LEASED 01/20/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $1.08
    •  
  • 8533 Brushy Creek Trail Fort Worth, TX 3
    • 3 beds 2 baths ∙ 1,409 Sqft ∙ Built 1986 3 beds 2 baths ∙ 1,409 Sqft ∙ Built 1986
    LEASED 06/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $1.13
    •  
  • 8305 Bowspirit Lane Fort Worth, TX 4
    • 3 beds 2 baths ∙ 1,507 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,507 Sqft ∙ Built 2003
    LEASED 08/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,725
    • $1.14
    •  
  • 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
    LEASED 07/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $1.14
    •  
PROPERTY LISTING DETAILS
Genevieve Talbott
Keller Williams Arlington
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14526310
Last Updated: 03/05/2021
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