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842 Village Point Lane Fort Worth, TX 76108

3 Beds 3 Baths 1,261 sqft Built 2007

$190,000

List Price

$1,400

$1.3K - $1.5K

Rent Est.

PROPERTY INFO

February 05, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2007
  • Price/Sqft : $150.67
  • 3 Days on Market
  • MLS # : 14513261
  • Updated Date : 02/06/2021 at 15:02
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,261 sqft
  • Baths : 2 full , 1 half
Listing Agent

Compass Re Texas, Llc

Listing Agent's Description

MULTIPLE OFFERS RECEIVED. DEADLINE FOR OFFERS IS SUNDAY 2-7 @ 8PM. One of Westpoint Village's finest homes has a freshly painted exterior including the storage shed & a brand new 8ft board-on-board fence offering privacy for the spacious backyard & covered porch. This 2-story gem offers an open concept floorplan w the living room, kitchen & dining room overlooking the landscaped backyard. The charming kitchen boasts a reverse osmosis water system and has an island w a breakfast bar, perfect for entertaining family & friends. Master bedroom, 2 secondary bedrooms & 2 full bathrooms are located upstairs. Master has a spacious ensuite bathroom w dual sinks. Call today!

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: Westpoint Village

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240kPrice in $83k243k

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

Neighborhood: Westpoint Village

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700Rent in $9141734

* 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
Blue Haze Elementary School Primary Regular 844 48 7
Brewer Middle School Middle Regular 986 55 6
Brewer High School High Regular 1,730 104 4

Blue Haze Elementary School

  • Education Level: Primary
  • # of students: 844
  • # of teachers: 48
7
GreatSchools Rating

Brewer Middle School

  • Education Level: Middle
  • # of students: 986
  • # of teachers: 55
6
GreatSchools Rating

Brewer High School

  • Education Level: High
  • # of students: 1,730
  • # of teachers: 104
4
GreatSchools Rating
 

$171,000$209,000$190,000

PURCHASE PRICE

$1,260$1,540$1,400

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,400
EXPENSES Loan Payment -$660
Property Tax -$436
Property Insurance -$100
Property Management Fees -$99
CASH FLOW
$105

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.

$190,000

PROJECTED PRICE

$1,400

PROJECTED RENT

0.74%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.74%
Appreciation Year (1-5) 7.7%
Maintenance Year (1-5) 8.00%
Vacancy 6.69%
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

PROJECTED ANNUAL CASH FLOW

11530$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$56,100

INVESTMENT

$56,100

Down Payment
$47,500
Rehab Estimate
$5,750
Closing Costs
$2,850

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$660

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $47,500
Loan Amount $142,500
See What Happens When You Reinvest Cash Flow

7.08

YEARS SAVED

$15,953

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,400

    LIST RENT
  • $1.11

    LIST RENT PER SQFT
  • $1,393

    COMP ESTIMATED VALUE
  • $1.11

    COMP AVG. RENT PER SQFT
Comps Range
$1,399
1$1,3992$1,4003$1,4254$1,4505$1,525
$1,525
RENT COMPS ANALYSIS
  • 842 Village Point Lane Fort Worth, TX 2
    • 3 beds 3 baths ∙ 1,261 Sqft ∙ Built 2007 3 beds 3 baths ∙ 1,261 Sqft ∙ Built 2007
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $1.11
    •  
  • 817 Village Point Lane Fort Worth, TX 1
    • 3 beds 3 baths ∙ 1,301 Sqft ∙ Built 2007 3 beds 3 baths ∙ 1,301 Sqft ∙ Built 2007
    LEASED 11/08/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,399
    • $1.08
    •  
  • 10220 Maria Drive Fort Worth, TX 3
    • 3 beds 2 baths ∙ 1,214 Sqft ∙ Built 1994 3 beds 2 baths ∙ 1,214 Sqft ∙ Built 1994
    LEASED 04/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,425
    • $1.17
    •  
  • 10724 Edgewest Terrace Fort Worth, TX 4
    • 3 beds 3 baths ∙ 1,308 Sqft ∙ Built 2007 3 beds 3 baths ∙ 1,308 Sqft ∙ Built 2007
    LEASED 05/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $1.11
    •  
  • 10409 Pleasant Mound Drive Fort Worth, TX 5
    • 3 beds 2 baths ∙ 1,441 Sqft ∙ Built 1996 3 beds 2 baths ∙ 1,441 Sqft ∙ Built 1996
    LEASED 10/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,525
    • $1.06
    •  
PROPERTY LISTING DETAILS
Denise Johnson
Compass Re Texas, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14513261
Last Updated: 02/06/2021
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