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919 E Lake Drive Weatherford, TX 76087

3 Beds 3 Baths 2,533 sqft Built 2001

$724,900

List Price

$2,370

$2.1K - $2.6K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 07, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2001
  • Price/Sqft : $286.18
  • 1 Days on Market
  • MLS # : 14527664
  • Updated Date : 03/06/2021 at 22:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,533 sqft
  • Baths : 3 full
Listing Agent

Century 21 Judge Fite Company

Listing Agent's Description

What a marvelous view! Wonderful home for lake living! Impeccable lake front beauty. Soaring ceiling with a wall of glass in the living room overlooking wide open waters. Enjoy all the natural light with the amazing view of the Lake. Recently remodeled kitchen. Magnificent open concept. Huge covered back deck on the lower level. huge master bedroom upstairs with its own deck. master bath has been recently remodeled and is unbelievable. There is a large flex room off the master bath. Home has three bedrooms and three full baths plus an oversized garage. Custom built dock with motorized boat and jet ski lifts. Private boat launch. This home has been beautifully maintained inside and out. You will love this home!

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: 76087

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340kPrice in $104k342k

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

Zip Code: 76087

ZipNIR Market*CityMarket2010Year20002019 Q21200130014001500160017001800190020002100Rent in $11212171

* 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
Mary Martin Elementary School Primary Regular 590 34 5
Mary Martin Elementary School Middle Regular 590 34 5
Weatherford High School High Regular 2,238 148 6

Mary Martin Elementary School

  • Education Level: Primary
  • # of students: 590
  • # of teachers: 34
5
GreatSchools Rating

Mary Martin Elementary School

  • Education Level: Middle
  • # of students: 590
  • # of teachers: 34
5
GreatSchools Rating

Weatherford High School

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

$652,410$797,390$724,900

PURCHASE PRICE

$2,133$2,607$2,370

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,370
EXPENSES Loan Payment -$2,518
Property Tax -$1,543
Property Insurance -$174
Property Management Fees -$99
CASH FLOW
-$1,963

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.

$724,900

PROJECTED PRICE

$2,370

PROJECTED RENT

0.33%

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$500k$1.0M$1.5M$2.0M

PROJECTED ANNUAL CASH FLOW

11530-$30k-$25k-$20k-$15k-$10k-$5.0k$0.0

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$197,849

INVESTMENT

$197,849

Down Payment
$181,225
Rehab Estimate
$5,750
Closing Costs
$10,874

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 100% down payment or higher enables the proceeds from the asset to cover all costs.

$2,518

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $181,225
Loan Amount $543,675
See What Happens When You Reinvest Cash Flow

-0.33

YEARS SAVED

$4,687

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,370

    LIST RENT
  • $0.94

    LIST RENT PER SQFT
  • $2,389

    COMP ESTIMATED VALUE
  • $0.94

    COMP AVG. RENT PER SQFT
Comps Range
$2,100
1$2,1002$2,2003$2,2004$2,370
$2,370
RENT COMPS ANALYSIS
  • 919 E Lake Drive Weatherford, TX 4
    • 3 beds 3 baths ∙ 2,533 Sqft ∙ Built 2001 3 beds 3 baths ∙ 2,533 Sqft ∙ Built 2001
    • Rent
    • Rent Per SQFT
    •  
    • $2,370
    • $0.94
    •  
  • 1105 Thistle Hill Trail Weatherford, TX 1
    • 4 beds 2 baths ∙ 2,226 Sqft ∙ Built 2006 4 beds 2 baths ∙ 2,226 Sqft ∙ Built 2006
    LEASED 09/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.94
    •  
  • 139 Post Oak Way Weatherford, TX 2
    • 4 beds 2 baths ∙ 2,233 Sqft ∙ Built 2018 4 beds 2 baths ∙ 2,233 Sqft ∙ Built 2018
    LEASED 11/04/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.99
    •  
  • 123 Crestview Drive Hudson Oaks, TX 3
    • 4 beds 2 baths ∙ 2,445 Sqft ∙ Built 2002 4 beds 2 baths ∙ 2,445 Sqft ∙ Built 2002
    LEASED 07/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.90
    •  
PROPERTY LISTING DETAILS
Ronnie Warren
Century 21 Judge Fite Company
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14527664
Last Updated: 03/06/2021
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