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8724 Glenburne Drive Fort Worth, TX 76131

3 Beds 2 Baths 2,030 sqft Built 2009

$292,500

List Price

$1,860

$1.7K - $2K

Rent Est.

PROPERTY INFO

January 14, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2009
  • Price/Sqft : $144.09
  • 4 Days on Market
  • MLS # : 14498433
  • Updated Date : 01/15/2021 at 11:47
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,030 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Realty

Listing Agent's Description

Wonderfully kept home in Ridgeview Farms w Eagle Mtn-Saginaw ISD schools. The open layout concept features neutral colors throughout, 2 living areas, & split bedrooms! Create new recipes in the kitchen w Whirlpool SS apps, granite, breakfast bar, island, 5-burner gas cooktop, & more. Unwind in the owner's retreat w double sinks, garden tub, & a separate shower w his & her walk-in closets. Full size utility rm w built-in shelving is perfect for extra storage. The covered patio & back yard w wood privacy fence is great for entertaining. This great neighborhood includes a park, playground, & community pool all in walking distance. Great location w easy access to 820 & I-35, shopping, & more. ACT FAST!

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: Ridgeview Farms

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $104k336k

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

Neighborhood: Ridgeview Farms

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
Comanche Springs Elementary School Primary Regular 586 34 5
Prairie Vista Middle School Middle Regular 866 53 5
Saginaw High School High Regular 1,785 113 6

Comanche Springs Elementary School

  • Education Level: Primary
  • # of students: 586
  • # of teachers: 34
5
GreatSchools Rating

Prairie Vista Middle School

  • Education Level: Middle
  • # of students: 866
  • # of teachers: 53
5
GreatSchools Rating

Saginaw High School

  • Education Level: High
  • # of students: 1,785
  • # of teachers: 113
6
GreatSchools Rating
 

$263,250$321,750$292,500

PURCHASE PRICE

$1,674$2,046$1,860

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,860
EXPENSES Loan Payment -$1,016
Property Tax -$671
Property Insurance -$145
HOA -$30
Property Management Fees -$99
CASH FLOW
-$100

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.

$292,500

PROJECTED PRICE

$1,860

PROJECTED RENT

0.64%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 5.7%
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$800k

PROJECTED ANNUAL CASH FLOW

11530-$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$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$83,263

INVESTMENT

$83,263

Down Payment
$73,125
Rehab Estimate
$5,750
Closing Costs
$4,388

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,016

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $73,125
Loan Amount $219,375
See What Happens When You Reinvest Cash Flow

2.5

YEARS SAVED

$5,733

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,860

    LIST RENT
  • $0.92

    LIST RENT PER SQFT
  • $1,868

    COMP ESTIMATED VALUE
  • $0.92

    COMP AVG. RENT PER SQFT
Comps Range
$1,650
1$1,6502$1,6503$1,8604$1,8955$1,995
$1,995
RENT COMPS ANALYSIS
  • 8724 Glenburne Drive Fort Worth, TX 3
    • 3 beds 2 baths ∙ 2,030 Sqft ∙ Built 2009 3 beds 2 baths ∙ 2,030 Sqft ∙ Built 2009
    • Rent
    • Rent Per SQFT
    •  
    • $1,860
    • $0.92
    •  
  • 1805 Two Hawks Drive Fort Worth, TX 1
    • 3 beds 2 baths ∙ 1,836 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,836 Sqft ∙ Built 2004
    LEASED 06/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.90
    •  
  • 1704 Two Hawks Drive Fort Worth, TX 2
    • 3 beds 2 baths ∙ 1,871 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,871 Sqft ∙ Built 2004
    LEASED 07/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.88
    •  
  • 1208 Constance Drive Fort Worth, TX 4
    • 4 beds 2 baths ∙ 2,105 Sqft ∙ Built 2005 4 beds 2 baths ∙ 2,105 Sqft ∙ Built 2005
    LEASED 06/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.90
    •  
  • 1325 Realoaks Drive Fort Worth, TX 5
    • 3 beds 2 baths ∙ 1,996 Sqft ∙ Built 2013 3 beds 2 baths ∙ 1,996 Sqft ∙ Built 2013
    LEASED 12/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $1.00
    •  
PROPERTY LISTING DETAILS
Chris Minteer
Keller Williams Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14498433
Last Updated: 01/15/2021
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