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9020 Pearfield Road Fort Worth, TX 76179

3 Beds 2 Baths 1,676 sqft Built 2020

$250,000

List Price

$1,640

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
December 24, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2020
  • Price/Sqft : $149.16
  • 4 Days on Market
  • MLS # : 14489618
  • Updated Date : 12/24/2020 at 15:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,676 sqft
  • Baths : 2 full
Listing Agent

Offerpad Brokerage, Llc

Listing Agent's Description

An almost new 3 bedroom, 2 bathroom home in Twin Mills community in Fort Worth. Enjoy the open floor plan, covered back patio, granite counter tops, split bedrooms, and so much more. This one won't last long so preview the 3D tour and then schedule a showing today.

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

Zip Code: 76179

ZipNIR Market*CityMarket2010Year20002019110k120k130k140k150k160k170k180k190k200k210k220k230k240kPrice in $104k243k

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

Zip Code: 76179

ZipNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700Rent in $9191734

* 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
Lake Pointe Elementary School Primary Regular 664 35 8
Wayside Middle School Middle Regular 943 52 6
Boswell High School High Regular 1,605 106 7

Lake Pointe Elementary School

  • Education Level: Primary
  • # of students: 664
  • # of teachers: 35
8
GreatSchools Rating

Wayside Middle School

  • Education Level: Middle
  • # of students: 943
  • # of teachers: 52
6
GreatSchools Rating

Boswell High School

  • Education Level: High
  • # of students: 1,605
  • # of teachers: 106
7
GreatSchools Rating
 

$225,000$275,000$250,000

PURCHASE PRICE

$1,476$1,804$1,640

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,640
EXPENSES Loan Payment -$922
Property Tax -$608
Property Insurance -$124
HOA -$40
Property Management Fees -$99
CASH FLOW
-$154

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 9% of earned rent to cover both maintenance and periods of vacancy.

$250,000

PROJECTED PRICE

$1,640

PROJECTED RENT

0.66%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 7.5%
Maintenance Year (1-5) 3.00%
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

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$68,250

INVESTMENT

$68,250

Down Payment
$62,500
Rehab Estimate
$2,000
Closing Costs
$3,750

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% 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 $62,500
Loan Amount $187,500
See What Happens When You Reinvest Cash Flow

1.58

YEARS SAVED

$2,885

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,640

    LIST RENT
  • $0.98

    LIST RENT PER SQFT
  • $1,663

    COMP ESTIMATED VALUE
  • $0.99

    COMP AVG. RENT PER SQFT
Comps Range
$1,475
1$1,4752$1,6403$1,7254$1,7455$1,850
$1,850
RENT COMPS ANALYSIS
  • 9020 Pearfield Road Fort Worth, TX 2
    • 3 beds 2 baths ∙ 1,676 Sqft ∙ Built 2020 3 beds 2 baths ∙ 1,676 Sqft ∙ Built 2020
    • Rent
    • Rent Per SQFT
    •  
    • $1,640
    • $0.98
    •  
  • 4729 Winding Hollow Drive Fort Worth, TX 1
    • 4 beds 2 baths ∙ 1,506 Sqft ∙ Built 2006 4 beds 2 baths ∙ 1,506 Sqft ∙ Built 2006
    LEASED 04/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,475
    • $0.98
    •  
  • 5033 Caraway Drive Fort Worth, TX 3
    • 3 beds 2 baths ∙ 1,786 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,786 Sqft ∙ Built 2005
    LEASED 12/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,725
    • $0.97
    •  
  • 9133 Pearfield Road Fort Worth, TX 4
    • 3 beds 2 baths ∙ 1,736 Sqft ∙ Built 2020 3 beds 2 baths ∙ 1,736 Sqft ∙ Built 2020
    LEASED 05/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,745
    • $1.01
    •  
  • 9104 Fescue Drive Fort Worth, TX 5
    • 4 beds 2 baths ∙ 1,834 Sqft ∙ Built 2020 4 beds 2 baths ∙ 1,834 Sqft ∙ Built 2020
    LEASED 07/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $1.01
    •  
PROPERTY LISTING DETAILS
Ben Garcia
Offerpad Brokerage, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14489618
Last Updated: 12/24/2020
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