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908 King Street Weatherford, TX 76086

3 Beds 2 Baths 1,377 sqft Built 2016

$240,000

List Price

$1,420

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

November 17, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2016
  • Price/Sqft : $174.29
  • 6 Days on Market
  • MLS # : 14472580
  • Updated Date : 11/17/2020 at 18:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,377 sqft
  • Baths : 2 full
Listing Agent

Re/max Trinity

Listing Agent's Description

Charming, well-maintained home nestled in the heart of Weatherford! Tucked back in a desirable neighborhood in Weatherford. Just minutes away from schools, downtown, restaurants and shopping. Featuring 3 bedrooms and 2 full baths, 2 car garage, and a large fenced back yard with inviting covered back patio! Comfortable layout with open living area, huge kitchen with granite counter tops and a great laundry room with storage! This delightful home is move-in ready, come take a look today!

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

Zip Code: 76086

ZipNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240kPrice in $84k258k

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

Zip Code: 76086

ZipNIR Market*CityMarket2010Year20002019 Q280090010001100120013001400150016001700Rent in $7611734

* 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
David Crockett Elementary School Primary Regular 530 37 4
Tison Middle School Middle Regular 554 39 5
Weatherford High School High Regular 2,238 148 6

David Crockett Elementary School

  • Education Level: Primary
  • # of students: 530
  • # of teachers: 37
4
GreatSchools Rating

Tison Middle School

  • Education Level: Middle
  • # of students: 554
  • # of teachers: 39
5
GreatSchools Rating

Weatherford High School

  • Education Level: High
  • # of students: 2,238
  • # of teachers: 148
6
GreatSchools Rating
 

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

PURCHASE PRICE

$1,278$1,562$1,420

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,420
EXPENSES Loan Payment -$886
Property Tax -$511
Property Insurance -$107
Property Management Fees -$99
CASH FLOW
-$182

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.

$240,000

PROJECTED PRICE

$1,420

PROJECTED RENT

0.59%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.74%
Appreciation Year (1-5) 6.9%
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$100k$200k$300k$400k$500k$600k$700k

PROJECTED ANNUAL CASH FLOW

11530-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k

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 70% 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

1.33

YEARS SAVED

$1,959

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,420

    LIST RENT
  • $1.03

    LIST RENT PER SQFT
  • $1,597

    COMP ESTIMATED VALUE
  • $1.16

    COMP AVG. RENT PER SQFT
Comps Range
$1,420
1$1,4202$1,6003$1,625
$1,625
RENT COMPS ANALYSIS
  • 908 King Street Weatherford, TX 1
    • 3 beds 2 baths ∙ 1,377 Sqft ∙ Built 2016 3 beds 2 baths ∙ 1,377 Sqft ∙ Built 2016
    • Rent
    • Rent Per SQFT
    •  
    • $1,420
    • $1.03
    •  
  • 1230 Newcastle Drive Weatherford, TX 2
    • 3 beds 2 baths ∙ 1,383 Sqft ∙ Built 2013 3 beds 2 baths ∙ 1,383 Sqft ∙ Built 2013
    LEASED 08/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $1.16
    •  
  • 1041 Inverness Drive Weatherford, TX 3
    • 3 beds 2 baths ∙ 1,403 Sqft ∙ Built 2012 3 beds 2 baths ∙ 1,403 Sqft ∙ Built 2012
    LEASED 07/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,625
    • $1.16
    •  
PROPERTY LISTING DETAILS
Tuesday Benthall
Re/max Trinity
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14472580
Last Updated: 11/17/2020
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