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9024 Silsby Drive Fort Worth, TX 76244

4 Beds 3 Baths 2,929 sqft Built 2007

$369,900

List Price

$2,240

$2K - $2.5K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 12, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2007
  • Price/Sqft : $126.29
  • 3 Days on Market
  • MLS # : 14516692
  • Updated Date : 03/12/2021 at 18:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,929 sqft
  • Baths : 2 full , 1 half
Listing Agent

Michael Brady Realty

Listing Agent's Description

Gorgeous move-in ready two story! Beautiful woven shades with privacy liners throughout upstairs. Classic board and batten wall treatment in several rooms. Master bedroom features private sitting area or office space with built in bookshelf. Large bonus room upstairs. Covered patio great for outdoor dining and entertaining. Highly rated schools, parks and playgrounds within walking distance. Resort-like community pools. A short drive to shopping and dining adds to this location being extremely desirable. Perfect home for family with young kids.

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: Heritage

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $104k336k

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

Neighborhood: Heritage

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700180019002000210022002300Rent in $9192376

* 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
Central High School High Regular 2,573 140 8
Central High School High Unknown NA

Lone Star Elementary School

  • Education Level: Primary
  • # of students: 750
  • # of teachers: 48
8
GreatSchools Rating

Central High School

  • Education Level: High
  • # of students: 2,573
  • # of teachers: 140
8
GreatSchools Rating

Central High School

  • Education Level: High
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$332,910$406,890$369,900

PURCHASE PRICE

$2,016$2,464$2,240

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,240
EXPENSES Loan Payment -$1,285
Property Tax -$848
Property Insurance -$196
HOA -$33
Property Management Fees -$99
CASH FLOW
-$222

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.

$369,900

PROJECTED PRICE

$2,240

PROJECTED RENT

0.61%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 6.0%
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$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

11530-$8.0k-$6.0k-$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$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$103,774

INVESTMENT

$103,774

Down Payment
$92,475
Rehab Estimate
$5,750
Closing Costs
$5,549

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$1,285

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $92,475
Loan Amount $277,425
See What Happens When You Reinvest Cash Flow

1.42

YEARS SAVED

$3,054

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,240

    LIST RENT
  • $0.76

    LIST RENT PER SQFT
  • $2,424

    COMP ESTIMATED VALUE
  • $0.83

    COMP AVG. RENT PER SQFT
Comps Range
$2,150
1$2,1502$2,2403$2,5004$2,6005$2,700
$2,700
RENT COMPS ANALYSIS
  • 9024 Silsby Drive Fort Worth, TX 2
    • 4 beds 3 baths ∙ 2,929 Sqft ∙ Built 2007 4 beds 3 baths ∙ 2,929 Sqft ∙ Built 2007
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,240
    • $0.76
    •  
  • 4725 Olympia Trace Circle Fort Worth, TX 1
    • 4 beds 3 baths ∙ 2,868 Sqft ∙ Built 1999 4 beds 3 baths ∙ 2,868 Sqft ∙ Built 1999
    property image
    LEASED 12/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $0.75
    •  
  • 9017 Hawley Drive Fort Worth, TX 3
    • 4 beds 4 baths ∙ 3,031 Sqft ∙ Built 2008 4 beds 4 baths ∙ 3,031 Sqft ∙ Built 2008
    property image
    LEASED 08/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.82
    •  
  • 9104 Wiggins Drive Fort Worth, TX 4
    • 4 beds 3 baths ∙ 3,094 Sqft ∙ Built 2006 4 beds 3 baths ∙ 3,094 Sqft ∙ Built 2006
    property image
    LEASED 07/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $0.84
    •  
  • 4761 Van Zandt Drive Fort Worth, TX 5
    • 4 beds 3 baths ∙ 3,000 Sqft ∙ Built 2004 4 beds 3 baths ∙ 3,000 Sqft ∙ Built 2004
    property image
    LEASED 01/15/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $0.90
    •  
PROPERTY LISTING DETAILS
Michael Brady
Michael Brady Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14516692
Last Updated: 03/12/2021
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