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856 Thomas Crossing Drive Fort Worth, TX 76028

4 Beds 4 Baths 3,410 sqft Built 1999

$525,000

List Price

$2,750

$2.5K - $3K

Rent Est.

PROPERTY INFO

January 22, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1999
  • Price/Sqft : $153.96
  • 3 Days on Market
  • MLS # : 14501282
  • Updated Date : 01/23/2021 at 11:07
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,410 sqft
  • Baths : 3 full , 1 half
Listing Agent

Century 21 Judge Fite Co.

Listing Agent's Description

Beautiful 4 bedroom 3 and a half bathroom with heated saltwater pool and spa on the 15th fairway of Southern Oaks Golf Course. Built in 1999 this home features beautiful red oak flooring and cabinets, hammered copper sink and copper appliances, 2 gas fireplaces, 2 large living areas, formal dining room with eat-in kitchen, separate study, bonus room on 2nd floor, fully transferable warranty on new DaVinci Roof, outdoor patio, fully fenced property with solar powered electric gate, separate side entrance for rear bedroom or in-law suite, large main bedroom and bath with his and her vanity's and separate closets, hidden tv behind mirror in bathroom, stone pavers around pool and patio as well as front driveway.

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: 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
 

$472,500$577,500$525,000

PURCHASE PRICE

$2,475$3,025$2,750

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,750
EXPENSES Loan Payment -$1,824
Property Tax -$1,204
Property Insurance -$224
HOA -$8
Property Management Fees -$99
CASH FLOW
-$609

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.

$525,000

PROJECTED PRICE

$2,750

PROJECTED RENT

0.52%

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$1.2M$1.4M

PROJECTED ANNUAL CASH FLOW

11530-$14k-$12k-$10k-$8.0k-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$144,875

INVESTMENT

$144,875

Down Payment
$131,250
Rehab Estimate
$5,750
Closing Costs
$7,875

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 75% down payment or higher enables the proceeds from the asset to cover all costs.

$1,824

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $131,250
Loan Amount $393,750
See What Happens When You Reinvest Cash Flow

0.25

YEARS SAVED

$148

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,750

    LIST RENT
  • $0.81

    LIST RENT PER SQFT
  • $2,592

    COMP ESTIMATED VALUE
  • $0.76

    COMP AVG. RENT PER SQFT
Comps Range
$2,295
1$2,2952$2,7503$3,100
$3,100
RENT COMPS ANALYSIS
  • 856 Thomas Crossing Drive Fort Worth, TX 2
    • 4 beds 4 baths ∙ 3,410 Sqft ∙ Built 1999 4 beds 4 baths ∙ 3,410 Sqft ∙ Built 1999
    • Rent
    • Rent Per SQFT
    •  
    • $2,750
    • $0.81
    •  
  • 1016 Sycamore Street Burleson, TX 1
    • 5 beds 3 baths ∙ 3,464 Sqft ∙ Built 2005 5 beds 3 baths ∙ 3,464 Sqft ∙ Built 2005
    LEASED 03/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,295
    • $0.66
    •  
  • 1016 Merion Drive Fort Worth, TX 3
    • 4 beds 3 baths ∙ 3,591 Sqft ∙ Built 2016 4 beds 3 baths ∙ 3,591 Sqft ∙ Built 2016
    LEASED 09/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,100
    • $0.86
    •  
PROPERTY LISTING DETAILS
Callan Wallace
Century 21 Judge Fite Co.
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14501282
Last Updated: 01/23/2021
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