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8856 Chaps Avenue Fort Worth, TX 76244

4 Beds 2 Baths 1,544 sqft Built 2004

$249,900

List Price

$1,600

$1.4K - $1.8K

Rent Est.

PROPERTY INFO

December 31, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2004
  • Price/Sqft : $161.85
  • 4 Days on Market
  • MLS # : 14491952
  • Updated Date : 12/30/2020 at 22:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,544 sqft
  • Baths : 2 full
Listing Agent

Era Steve Cook & Co, Realtors®

Listing Agent's Description

Home is where the heart is and this house is for you! Fantastic 4 bedroom 2 bath located close to Major shopping and restaurants will make those short trips a breeze. Wonderful open floorplan and wood burning fireplace will make your family and friends warm and cozy on those cold days. The large patio will give you plenty of room for those BBQ's with friends and the view of the open greenbelt behind is a bonus for the homeowners privacy. Make an appointment to see for yourself what this property has to offer!

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: 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
 

$224,910$274,890$249,900

PURCHASE PRICE

$1,440$1,760$1,600

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,600
EXPENSES Loan Payment -$922
Property Tax -$573
Property Insurance -$116
HOA -$23
Property Management Fees -$99
CASH FLOW
-$133

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.

$249,900

PROJECTED PRICE

$1,600

PROJECTED RENT

0.64%

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$800k

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$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$71,974

INVESTMENT

$71,974

Down Payment
$62,475
Rehab Estimate
$5,750
Closing Costs
$3,749

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$922

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $62,475
Loan Amount $187,425
See What Happens When You Reinvest Cash Flow

2.08

YEARS SAVED

$4,151

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,600

    LIST RENT
  • $1.04

    LIST RENT PER SQFT
  • $1,540

    COMP ESTIMATED VALUE
  • $1

    COMP AVG. RENT PER SQFT
Comps Range
$1,525
1$1,5252$1,5953$1,6004$1,6755$1,695
$1,695
RENT COMPS ANALYSIS
  • 8856 Chaps Avenue Fort Worth, TX 3
    • 4 beds 2 baths ∙ 1,544 Sqft ∙ Built 2004 4 beds 2 baths ∙ 1,544 Sqft ∙ Built 2004
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $1.04
    •  
  • 8545 Western Meadows Drive Fort Worth, TX 1
    • 3 beds 2 baths ∙ 1,503 Sqft ∙ Built 2000 3 beds 2 baths ∙ 1,503 Sqft ∙ Built 2000
    property image
    LEASED 09/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,525
    • $1.01
    •  
  • 4933 Diamond Trace Trail Fort Worth, TX 2
    • 3 beds 2 baths ∙ 1,677 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,677 Sqft ∙ Built 2005
    property image
    LEASED 01/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.95
    •  
  • 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
    property image
    LEASED 07/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,675
    • $1.01
    •  
  • 8801 Chaps Avenue Fort Worth, TX 5
    • 3 beds 2 baths ∙ 1,660 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,660 Sqft ∙ Built 2002
    property image
    LEASED 08/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $1.02
    •  
PROPERTY LISTING DETAILS
Cary Bauer
Era Steve Cook & Co, Realtors®
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14491952
Last Updated: 12/30/2020
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