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9113 Lookout Point Fort Worth, TX 76179

3 Beds 2 Baths 1,988 sqft Built 2020

$290,595

List Price

$1,660

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
December 29, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2020
  • Price/Sqft : $146.17
  • 6 Days on Market
  • MLS # : 14491653
  • Updated Date : 12/29/2020 at 18:08
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,988 sqft
  • Baths : 2 full
Listing Agent

Toby Jones

Listing Agent's Description

NEW CONSTRUCTION: Lakepointe in Fort Worth. One story Killeen plan with brick and stone exterior - Elevation F. Available for immediate move-in. 3BR, 2BA, 1988 sq. ft. Espresso Cabinetry + Granite Island + Whirlpool Appliances + tray ceiling in family room + covered patio.

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: The Parks at Boat Club

NeighborhoodNIR Market*CityMarket2010Year20002019110k120k130k140k150k160k170k180k190k200k210k220k230k240kPrice in $104k243k

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

Neighborhood: The Parks at Boat Club

NeighborhoodNIR 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
 

$261,536$319,655$290,595

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 -$1,072
Property Tax -$707
Property Insurance -$142
HOA -$51
Property Management Fees -$99
CASH FLOW
-$411

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.

$290,595

PROJECTED PRICE

$1,660

PROJECTED RENT

0.57%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 8.7%
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$200k$400k$600k$800k

PROJECTED ANNUAL CASH FLOW

11530-$8.0k-$6.0k-$4.0k-$2.0k$0.0

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$79,008

INVESTMENT

$79,008

Down Payment
$72,649
Rehab Estimate
$2,000
Closing Costs
$4,359

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 75% down payment or higher enables the proceeds from the asset to cover all costs.

$1,072

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $72,649
Loan Amount $217,946
See What Happens When You Reinvest Cash Flow

0.08

YEARS SAVED

$21

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
  • $0.84

    LIST RENT PER SQFT
  • $1,700

    COMP ESTIMATED VALUE
  • $0.86

    COMP AVG. RENT PER SQFT
Comps Range
$1,595
1$1,5952$1,6603$1,6754$1,7505$1,800
$1,800
RENT COMPS ANALYSIS
  • 9113 Lookout Point Fort Worth, TX 2
    • 3 beds 2 baths ∙ 1,988 Sqft ∙ Built 2020 3 beds 2 baths ∙ 1,988 Sqft ∙ Built 2020
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,660
    • $0.84
    •  
  • 9000 Puerto Vista Drive Fort Worth, TX 1
    • 3 beds 2 baths ∙ 1,948 Sqft ∙ Built 2014 3 beds 2 baths ∙ 1,948 Sqft ∙ Built 2014
    property image
    LEASED 06/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.82
    •  
  • 8857 Noontide Drive Fort Worth, TX 3
    • 4 beds 2 baths ∙ 2,020 Sqft ∙ Built 2007 4 beds 2 baths ∙ 2,020 Sqft ∙ Built 2007
    property image
    LEASED 07/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,675
    • $0.83
    •  
  • 5848 Mount Plymouth Point Fort Worth, TX 4
    • 4 beds 2 baths ∙ 2,064 Sqft ∙ Built 2008 4 beds 2 baths ∙ 2,064 Sqft ∙ Built 2008
    property image
    LEASED 10/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.85
    •  
  • 5428 Thornbush Drive Fort Worth, TX 5
    • 4 beds 2 baths ∙ 1,963 Sqft ∙ Built 2012 4 beds 2 baths ∙ 1,963 Sqft ∙ Built 2012
    property image
    LEASED 05/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.92
    •  
PROPERTY LISTING DETAILS
Lee Jones
Toby Jones
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14491653
Last Updated: 12/29/2020
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