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841 Kentucky Derby Lane Fort Worth, TX 76179

4 Beds 3 Baths 2,362 sqft Built 2005

$264,000

List Price

$1,820

$1.6K - $2K

Rent Est.

PROPERTY INFO

January 30, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2005
  • Price/Sqft : $111.77
  • 2 Days on Market
  • MLS # : 14508250
  • Updated Date : 01/30/2021 at 11:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,362 sqft
  • Baths : 2 full , 1 half
Listing Agent

Keller Williams Realty

Listing Agent's Description

Welcome to this beautiful well- kept home. When you open the front door to your left is a flex room that could be used as a formal dining room, playroom, or an office. Enter into the kitchen to find lots of counter space, fall in love with all the space that you have with your walk in pantry. You will be cooking with gas with your newer black stainless steel gas range in this kitchen that has a newer black stainless dishwasher. Lots of entertaining in the backyard oasis with a larger lot that offers a pool that is 22 by 38 feet long that is eight and half feet deep, shallow end is 3 and a half deep. Pool offers a waterfall that flows over the rocks and a rock cliff diving board.

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: Remington Point

NeighborhoodNIR Market*CityMarket2010Year20002019110k120k130k140k150k160k170k180k190k200k210k220k230k240kPrice in $104k243k

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

Neighborhood: Remington Point

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700Rent in $9191734

* 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
Remington Point Elementary School Primary Regular 637 37 5
Ed Willkie Middle School Middle Regular 862 53 5
Chisholm Trail High School High Unknown NA

Remington Point Elementary School

  • Education Level: Primary
  • # of students: 637
  • # of teachers: 37
5
GreatSchools Rating

Ed Willkie Middle School

  • Education Level: Middle
  • # of students: 862
  • # of teachers: 53
5
GreatSchools Rating

Chisholm Trail High School

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

$237,600$290,400$264,000

PURCHASE PRICE

$1,638$2,002$1,820

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,820
EXPENSES Loan Payment -$917
Property Tax -$605
Property Insurance -$164
HOA -$28
Property Management Fees -$99
CASH FLOW
$8

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.

$264,000

PROJECTED PRICE

$1,820

PROJECTED RENT

0.69%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 9.2%
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$200k$400k$600k$800k

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$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$800k$900k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$75,710

INVESTMENT

$75,710

Down Payment
$66,000
Rehab Estimate
$5,750
Closing Costs
$3,960

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$917

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $66,000
Loan Amount $198,000
See What Happens When You Reinvest Cash Flow

4.33

YEARS SAVED

$11,007

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,820

    LIST RENT
  • $0.77

    LIST RENT PER SQFT
  • $1,807

    COMP ESTIMATED VALUE
  • $0.76

    COMP AVG. RENT PER SQFT
Comps Range
$1,695
1$1,6952$1,6953$1,7004$1,7535$1,820
$1,820
RENT COMPS ANALYSIS
  • 841 Kentucky Derby Lane Fort Worth, TX 5
    • 4 beds 3 baths ∙ 2,362 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,362 Sqft ∙ Built 2005
    • Rent
    • Rent Per SQFT
    •  
    • $1,820
    • $0.77
    •  
  • 1016 Grand National Boulevard Fort Worth, TX 1
    • 4 beds 2 baths ∙ 2,163 Sqft ∙ Built 2004 4 beds 2 baths ∙ 2,163 Sqft ∙ Built 2004
    LEASED 03/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.78
    •  
  • 5105 Cliff Oaks Drive Fort Worth, TX 2
    • 3 beds 3 baths ∙ 2,235 Sqft ∙ Built 2004 3 beds 3 baths ∙ 2,235 Sqft ∙ Built 2004
    LEASED 02/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.76
    •  
  • 5337 Lava Rock Drive Fort Worth, TX 3
    • 3 beds 3 baths ∙ 2,376 Sqft ∙ Built 2006 3 beds 3 baths ∙ 2,376 Sqft ∙ Built 2006
    LEASED 06/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.72
    •  
  • 5216 Rugged Avenue Fort Worth, TX 4
    • 4 beds 3 baths ∙ 2,190 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,190 Sqft ∙ Built 2005
    LEASED 03/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,753
    • $0.80
    •  
PROPERTY LISTING DETAILS
Ginger Brannan
Keller Williams Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14508250
Last Updated: 01/30/2021
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