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8813 Racquet Club Drive Fort Worth, TX 76120

3 Beds 3 Baths 2,739 sqft Built 2005

$690,000

List Price

$2,020

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

January 23, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2005
  • Price/Sqft : $251.92
  • 2 Days on Market
  • MLS # : 14501733
  • Updated Date : 01/23/2021 at 13:32
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,739 sqft
  • Baths : 2 full , 1 half
Listing Agent

Beam Real Estate, Llc

Listing Agent's Description

1.26 Acre Lot with Amazing tree top view over Trinity River. Nudura 'ICF' construction. Insulated concrete forms - exterior walls are poured concrete. Geothermal ground loop HVAC. Under roof square footage approx 4265 sq ft with oversized garage and expansive patio on main slab. Full stone exterior. Master closet is concrete wall storm shelter. Oversized circular drive. Price reflects value of acreage and view along with upgraded structural, architectural, and customization. Lot value plus cost of construction and improvements to present state. Buyer welcome to have a construction cost basis appraisal done. no trespassing

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: Waterchase Estates

NeighborhoodNIR Market*CityMarket2010Year20002019100k150k200k250k300k350k400kPrice in $88k450k

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

Neighborhood: Waterchase Estates

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001200140016001800200022002400Rent in $9192543

* 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
Lowery Road Elementary School Primary Regular 692 39 5
Handley Middle School Middle Regular 521 42 4
Eastern Hills High School High Regular 1,215 96 2

Lowery Road Elementary School

  • Education Level: Primary
  • # of students: 692
  • # of teachers: 39
5
GreatSchools Rating

Handley Middle School

  • Education Level: Middle
  • # of students: 521
  • # of teachers: 42
4
GreatSchools Rating

Eastern Hills High School

  • Education Level: High
  • # of students: 1,215
  • # of teachers: 96
2
GreatSchools Rating
 

$621,000$759,000$690,000

PURCHASE PRICE

$1,818$2,222$2,020

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,020
EXPENSES Loan Payment -$2,397
Property Tax -$1,582
Property Insurance -$185
Property Management Fees -$99
CASH FLOW
-$2,243

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.

$690,000

PROJECTED PRICE

$2,020

PROJECTED RENT

0.29%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.74%
Appreciation Year (1-5) 7.8%
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$500k$1.0M$1.5M$2.0M

PROJECTED ANNUAL CASH FLOW

11530-$35k-$30k-$25k-$20k-$15k-$10k-$5.0k$0.0

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$188,600

INVESTMENT

$188,600

Down Payment
$172,500
Rehab Estimate
$5,750
Closing Costs
$10,350

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 100% down payment or higher enables the proceeds from the asset to cover all costs.

$2,397

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $172,500
Loan Amount $517,500
See What Happens When You Reinvest Cash Flow

-0.33

YEARS SAVED

$10,313

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,020

    LIST RENT
  • $0.74

    LIST RENT PER SQFT
  • $2,184

    COMP ESTIMATED VALUE
  • $0.8

    COMP AVG. RENT PER SQFT
Comps Range
$1,995
1$1,9952$2,0003$2,0204$2,1005$2,200
$2,200
RENT COMPS ANALYSIS
  • 8813 Racquet Club Drive Fort Worth, TX 3
    • 3 beds 3 baths ∙ 2,739 Sqft ∙ Built 2005 3 beds 3 baths ∙ 2,739 Sqft ∙ Built 2005
    • Rent
    • Rent Per SQFT
    •  
    • $2,020
    • $0.74
    •  
  • 1341 Cog Hill Drive Fort Worth, TX 1
    • 3 beds 3 baths ∙ 2,492 Sqft ∙ Built 2007 3 beds 3 baths ∙ 2,492 Sqft ∙ Built 2007
    LEASED 10/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.80
    •  
  • 700 Newport Road Fort Worth, TX 2
    • 4 beds 3 baths ∙ 2,483 Sqft ∙ Built 1994 4 beds 3 baths ∙ 2,483 Sqft ∙ Built 1994
    LEASED 10/04/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.81
    •  
  • 9144 Cottonwood Village Drive Fort Worth, TX 4
    • 3 beds 3 baths ∙ 2,571 Sqft ∙ Built 2006 3 beds 3 baths ∙ 2,571 Sqft ∙ Built 2006
    LEASED 08/30/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.82
    •  
  • 1320 Cog Hill Drive Fort Worth, TX 5
    • 3 beds 3 baths ∙ 2,886 Sqft ∙ Built 2006 3 beds 3 baths ∙ 2,886 Sqft ∙ Built 2006
    LEASED 06/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.76
    •  
PROPERTY LISTING DETAILS
Dustin Schaller
Beam Real Estate, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14501733
Last Updated: 01/23/2021
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