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8555 Western Meadows Drive Fort Worth, TX 76244

3 Beds 2 Baths 1,599 sqft Built 2001

$235,900

List Price

$1,570

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

October 30, 2020 RECENTLY ADDED
FACTS
  • Built In 2001
  • Price/Sqft : $147.53
  • 5 Days on Market
  • MLS # : 14450672
  • Updated Date : 11/01/2020 at 12:17
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,599 sqft
  • Baths : 2 full
Listing Agent

Better Homes & Gardens, Winans

Listing Agent's Description

Cute as can be on a corner lot in exemplary Keller ISD! This home offers an open concept and a large family room with a wood-burning fireplace.   The kitchen has granite counters, a breakfast bar, and plenty of counter space and cabinets.  The master bath boasts dual sinks and a separate walk-in tub and shower. The backyard has a covered patio to keep you cool while grilling. The HVAC is newer and still under warranty. Refrigerator, washer, and dryer included. Home is close to shops, schools, restaurants, and an easy commute to the highways.

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: Coventry Hills

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $104k336k

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

Neighborhood: Coventry Hills

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100011001200130014001500160017001800190020002100Rent in $9192171

* 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
Lone Star Elementary School Primary Regular 750 48 8
Hillwood Middle School Middle Regular 1,087 65 8
Central High School High Regular 2,573 140 8

Lone Star Elementary School

  • Education Level: Primary
  • # of students: 750
  • # of teachers: 48
8
GreatSchools Rating

Hillwood Middle School

  • Education Level: Middle
  • # of students: 1,087
  • # of teachers: 65
8
GreatSchools Rating

Central High School

  • Education Level: High
  • # of students: 2,573
  • # of teachers: 140
8
GreatSchools Rating
 

$212,310$259,490$235,900

PURCHASE PRICE

$1,413$1,727$1,570

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,570
EXPENSES Loan Payment -$870
Property Tax -$541
Property Insurance -$120
HOA -$23
Property Management Fees -$99
CASH FLOW
-$83

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.

$235,900

PROJECTED PRICE

$1,570

PROJECTED RENT

0.67%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 7.2%
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

PROJECTED ANNUAL CASH FLOW

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

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$68,264

INVESTMENT

$68,264

Down Payment
$58,975
Rehab Estimate
$5,750
Closing Costs
$3,539

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$870

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $58,975
Loan Amount $176,925
See What Happens When You Reinvest Cash Flow

2.83

YEARS SAVED

$6,311

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,570

    LIST RENT
  • $0.98

    LIST RENT PER SQFT
  • $1,571

    COMP ESTIMATED VALUE
  • $0.98

    COMP AVG. RENT PER SQFT
Comps Range
$1,570
1$1,5702$1,5953$1,5954$1,6755$1,675
$1,675
RENT COMPS ANALYSIS
  • 8555 Western Meadows Drive Fort Worth, TX 1
    • 3 beds 2 baths ∙ 1,599 Sqft ∙ Built 2001 3 beds 2 baths ∙ 1,599 Sqft ∙ Built 2001
    • Rent
    • Rent Per SQFT
    •  
    • $1,570
    • $0.98
    •  
  • 8537 Western Meadows Drive Fort Worth, TX 2
    • 3 beds 2 baths ∙ 1,703 Sqft ∙ Built 2000 3 beds 2 baths ∙ 1,703 Sqft ∙ Built 2000
    LEASED 12/09/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.94
    •  
  • 4877 Eagle Trace Drive Fort Worth, TX 3
    • 3 beds 2 baths ∙ 1,668 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,668 Sqft ∙ Built 2003
    LEASED 01/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.96
    •  
  • 8617 Corral Circle Fort Worth, TX 4
    • 3 beds 2 baths ∙ 1,654 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,654 Sqft ∙ Built 2005
    LEASED 07/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,675
    • $1.01
    •  
  • 4833 Eagle Trace Drive Fort Worth, TX 5
    • 3 beds 2 baths ∙ 1,641 Sqft ∙ Built 2001 3 beds 2 baths ∙ 1,641 Sqft ∙ Built 2001
    LEASED 08/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,675
    • $1.02
    •  
PROPERTY LISTING DETAILS
Dayna Tooley
Better Homes & Gardens, Winans
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14450672
Last Updated: 11/01/2020
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