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913 Albany Drive Fort Worth, TX 76131

3 Beds 3 Baths 3,112 sqft Built 2015

$349,900

List Price

$1,970

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 05, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2015
  • Price/Sqft : $112.44
  • 3 Days on Market
  • MLS # : 14525574
  • Updated Date : 03/05/2021 at 04:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 3,112 sqft
  • Baths : 2 full , 1 half
Listing Agent

At Home Properties, Inc.

Listing Agent's Description

Stunning find in EMSag ISD in Ridgeview Farms! Model home quality awaits featuring a private study, media room, & gameroom. Step into spacious rooms, soaring ceilings, flowing light, custom paint & tile. Create gourmet meals in the dream kitchen boasting custom cabinets with above & below lighting, granite, SS appl, huge island, pendant lighting, & a walk in pantry. Enjoy quiet evenings snuggled in front of the gas starter FP or glide upstairs for a fun filled family night in the media & gameroom. Finally, slip into tranquility in the master suite & spa like master bath! Comm pool & park, 2 inch faux blinds, ceiling fans, decorative lighting, & much more! Easy access to I-35, 287, 820, entertainment & shopping!

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: Ridgeview Farms

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $104k336k

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

Neighborhood: Ridgeview Farms

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
Comanche Springs Elementary School Primary Regular 586 34 5
Prairie Vista Middle School Middle Regular 866 53 5
Saginaw High School High Regular 1,785 113 6

Comanche Springs Elementary School

  • Education Level: Primary
  • # of students: 586
  • # of teachers: 34
5
GreatSchools Rating

Prairie Vista Middle School

  • Education Level: Middle
  • # of students: 866
  • # of teachers: 53
5
GreatSchools Rating

Saginaw High School

  • Education Level: High
  • # of students: 1,785
  • # of teachers: 113
6
GreatSchools Rating
 

$314,910$384,890$349,900

PURCHASE PRICE

$1,773$2,167$1,970

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,970
EXPENSES Loan Payment -$1,215
Property Tax -$802
Property Insurance -$207
HOA -$30
Property Management Fees -$99
CASH FLOW
-$383

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.

$349,900

PROJECTED PRICE

$1,970

PROJECTED RENT

0.56%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 5.7%
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-$10k-$8.0k-$6.0k-$4.0k-$2.0k$0.0$2.0k

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$98,474

INVESTMENT

$98,474

Down Payment
$87,475
Rehab Estimate
$5,750
Closing Costs
$5,249

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,215

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $87,475
Loan Amount $262,425
See What Happens When You Reinvest Cash Flow

0.25

YEARS SAVED

$176

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,970

    LIST RENT
  • $0.63

    LIST RENT PER SQFT
  • $2,178

    COMP ESTIMATED VALUE
  • $0.7

    COMP AVG. RENT PER SQFT
Comps Range
$1,895
1$1,8952$1,9503$1,9704$2,1505$2,250
$2,250
RENT COMPS ANALYSIS
  • 913 Albany Drive Fort Worth, TX 3
    • 3 beds 3 baths ∙ 3,112 Sqft ∙ Built 2015 3 beds 3 baths ∙ 3,112 Sqft ∙ Built 2015
    • Rent
    • Rent Per SQFT
    •  
    • $1,970
    • $0.63
    •  
  • 1044 Lindstrom Drive Fort Worth, TX 1
    • 4 beds 3 baths ∙ 2,803 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,803 Sqft ∙ Built 2003
    LEASED 01/30/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.68
    •  
  • 8133 Hennessey Fort Worth, TX 2
    • 4 beds 3 baths ∙ 3,053 Sqft ∙ Built 2006 4 beds 3 baths ∙ 3,053 Sqft ∙ Built 2006
    LEASED 09/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.64
    •  
  • 9213 Conestoga Drive Fort Worth, TX 4
    • 4 beds 3 baths ∙ 2,961 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,961 Sqft ∙ Built 2006
    LEASED 08/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $0.73
    •  
  • 768 Red Elm Lane Fort Worth, TX 5
    • 4 beds 3 baths ∙ 2,982 Sqft ∙ Built 2007 4 beds 3 baths ∙ 2,982 Sqft ∙ Built 2007
    LEASED 07/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $0.75
    •  
PROPERTY LISTING DETAILS
La-nell Byerly
At Home Properties, Inc.
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14525574
Last Updated: 03/05/2021
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