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8820 Elk Creek Lane Fort Worth, TX 76123

4 Beds 2 Baths 2,105 sqft Built 2009

$240,000

List Price

$1,660

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

December 24, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2009
  • Price/Sqft : $114.01
  • 4 Days on Market
  • MLS # : 14489596
  • Updated Date : 12/24/2020 at 01:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,105 sqft
  • Baths : 2 full
Listing Agent

Kimberly Adams Realty

Listing Agent's Description

The desirable property is located in great location easy to access to I-20 and 35W to downtown Fort Worth or Arlington. The large living is open to kitchen for whole family entertaining. The kitchen is so awesome with innovated granite countertop. All bedrooms have great large closets. NEW ROOF. HOA information: Fort Worth Parkview phone#(972)943-2828

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: Creekside Estates

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240kPrice in $93k243k

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

Neighborhood: Creekside Estates

NeighborhoodNIR Market*CityMarket2010Year20002019 Q290010001100120013001400150016001700Rent in $8921734

* 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
S.h. Crowley Intermediate School Primary Regular 456 26 4
S.h. Crowley Intermediate School Middle Regular 456 26 4
North Crowley High School High Regular 2,442 148 4

S.h. Crowley Intermediate School

  • Education Level: Primary
  • # of students: 456
  • # of teachers: 26
4
GreatSchools Rating

S.h. Crowley Intermediate School

  • Education Level: Middle
  • # of students: 456
  • # of teachers: 26
4
GreatSchools Rating

North Crowley High School

  • Education Level: High
  • # of students: 2,442
  • # of teachers: 148
4
GreatSchools Rating
 

$216,000$264,000$240,000

PURCHASE PRICE

$1,494$1,826$1,660

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,660
EXPENSES Loan Payment -$886
Property Tax -$550
Property Insurance -$149
HOA -$12
Property Management Fees -$99
CASH FLOW
-$35

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.

$240,000

PROJECTED PRICE

$1,660

PROJECTED RENT

0.69%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 7.4%
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$100k$200k$300k$400k$500k$600k$700k$800k

PROJECTED ANNUAL CASH FLOW

11530-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$69,350

INVESTMENT

$69,350

Down Payment
$60,000
Rehab Estimate
$5,750
Closing Costs
$3,600

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$886

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $60,000
Loan Amount $180,000
See What Happens When You Reinvest Cash Flow

3.58

YEARS SAVED

$9,606

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,660

    LIST RENT
  • $0.79

    LIST RENT PER SQFT
  • $1,663

    COMP ESTIMATED VALUE
  • $0.79

    COMP AVG. RENT PER SQFT
Comps Range
$1,595
1$1,5952$1,6003$1,6604$1,6755$1,749
$1,749
RENT COMPS ANALYSIS
  • 8820 Elk Creek Lane Fort Worth, TX 3
    • 4 beds 2 baths ∙ 2,105 Sqft ∙ Built 2009 4 beds 2 baths ∙ 2,105 Sqft ∙ Built 2009
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,660
    • $0.79
    •  
  • 3844 Foxhound Lane Fort Worth, TX 1
    • 4 beds 3 baths ∙ 2,132 Sqft ∙ Built 2007 4 beds 3 baths ∙ 2,132 Sqft ∙ Built 2007
    property image
    LEASED 03/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.75
    •  
  • 8401 Asheville Lane Fort Worth, TX 2
    • 4 beds 2 baths ∙ 2,131 Sqft ∙ Built 2003 4 beds 2 baths ∙ 2,131 Sqft ∙ Built 2003
    property image
    LEASED 04/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.75
    •  
  • 3928 Garden Springs Drive Fort Worth, TX 4
    • 4 beds 2 baths ∙ 2,030 Sqft ∙ Built 2002 4 beds 2 baths ∙ 2,030 Sqft ∙ Built 2002
    property image
    LEASED 04/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,675
    • $0.83
    •  
  • 8832 Elk Creek Lane Fort Worth, TX 5
    • 4 beds 2 baths ∙ 2,105 Sqft ∙ Built 2009 4 beds 2 baths ∙ 2,105 Sqft ∙ Built 2009
    property image
    LEASED 10/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,749
    • $0.83
    •  
PROPERTY LISTING DETAILS
Loc Le
Kimberly Adams Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14489596
Last Updated: 12/24/2020
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