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844 Merion Drive Fort Worth, TX 76028

3 Beds 2 Baths 2,328 sqft Built 2005

$400,000

List Price

$2,320

$2.1K - $2.6K

Rent Est.

PROPERTY INFO

January 06, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2005
  • Price/Sqft : $171.82
  • 5 Days on Market
  • MLS # : 14493907
  • Updated Date : 01/06/2021 at 11:50
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,328 sqft
  • Baths : 2 full
Listing Agent

Re/max Trinity

Listing Agent's Description

Unique opportunity to own a single story updated home on the 17th green of Southern Oaks Golf course! Relax & enjoy the spectacular views from living, kitchen, master suite, pool, or outdoor living areas! Meticulously maintained-Anderson window over master jetted tub, new windows throughout-Oct 2016 & March 2017. HVAC replaced May 2018, Roof replaced Dec 2018. Kitchen updated with can lighting, over, under cabnet lighting & beautiful leathered granite countertops! Everything anticpated in a custom built home! Burleson Schools, Centennial High School. Study could also be used as a formal dining. Don't miss this opportunity! MULTIPLE OFFERS RECEIVED, MUST SUBMIT HIGHEST & BEST BY 2PM SUNDAY 1.10.2021.

SEE MORE

MARKET HIGHLIGHTS

  • # 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)
  • . Dallas has 7th largest concentration of high-tech jobs in the U.S. (Dallas Chamber)

PRICE & RENT TRENDS

Neighborhood: Thomas Crossing

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360k380k400k420kPrice in $119k427k

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

Neighborhood: Thomas Crossing

NeighborhoodNIR Market*CityMarket2010Year20002019 Q212001300140015001600170018001900200021002200230024002500Rent in $11262530

* 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
Bransom Elementary School Primary Regular 504 35 6
Kerr Middle School Middle Regular 1,258 72 5
Kerr Middle School High Regular 1,258 72 5

Bransom Elementary School

  • Education Level: Primary
  • # of students: 504
  • # of teachers: 35
6
GreatSchools Rating

Kerr Middle School

  • Education Level: Middle
  • # of students: 1,258
  • # of teachers: 72
5
GreatSchools Rating

Kerr Middle School

  • Education Level: High
  • # of students: 1,258
  • # of teachers: 72
5
GreatSchools Rating
 

$360,000$440,000$400,000

PURCHASE PRICE

$2,088$2,552$2,320

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,320
EXPENSES Loan Payment -$1,389
Property Tax -$917
Property Insurance -$162
HOA -$8
Property Management Fees -$99
CASH FLOW
-$255

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.

$400,000

PROJECTED PRICE

$2,320

PROJECTED RENT

0.58%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 4.4%
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$1.0M

PROJECTED ANNUAL CASH FLOW

11530-$8.0k-$6.0k-$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$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$111,750

INVESTMENT

$111,750

Down Payment
$100,000
Rehab Estimate
$5,750
Closing Costs
$6,000

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$1,389

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $100,000
Loan Amount $300,000
See What Happens When You Reinvest Cash Flow

1.42

YEARS SAVED

$3,114

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,320

    LIST RENT
  • $1

    LIST RENT PER SQFT
  • $2,037

    COMP ESTIMATED VALUE
  • $0.88

    COMP AVG. RENT PER SQFT
Comps Range
$1,745
1$1,7452$1,7753$1,8504$2,1505$2,320
$2,320
RENT COMPS ANALYSIS
  • 844 Merion Drive Fort Worth, TX 5
    • 3 beds 2 baths ∙ 2,328 Sqft ∙ Built 2005 3 beds 2 baths ∙ 2,328 Sqft ∙ Built 2005
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,320
    • $1.00
    •  
  • 706 Windridge Lane Burleson, TX 1
    • 4 beds 3 baths ∙ 2,175 Sqft ∙ Built 1993 4 beds 3 baths ∙ 2,175 Sqft ∙ Built 1993
    property image
    LEASED 04/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,745
    • $0.80
    •  
  • 12301 Hunters Knoll Drive Fort Worth, TX 2
    • 3 beds 2 baths ∙ 2,008 Sqft ∙ Built 2012 3 beds 2 baths ∙ 2,008 Sqft ∙ Built 2012
    property image
    LEASED 09/22/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,775
    • $0.88
    •  
  • 1033 Oak Valley Road Burleson, TX 3
    • 4 beds 3 baths ∙ 1,990 Sqft ∙ Built 1992 4 beds 3 baths ∙ 1,990 Sqft ∙ Built 1992
    property image
    LEASED 09/04/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.93
    •  
  • 12412 Silver Mist Trail Fort Worth, TX 4
    • 4 beds 3 baths ∙ 2,424 Sqft ∙ Built 2002 4 beds 3 baths ∙ 2,424 Sqft ∙ Built 2002
    property image
    LEASED 08/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $0.89
    •  
PROPERTY LISTING DETAILS
Cathy West
Re/max Trinity
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14493907
Last Updated: 01/06/2021
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