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921 King Street Weatherford, TX 76086

3 Beds 2 Baths 1,395 sqft Built 2010

INVESTimate

$234,000

List Price

$1,600

$1,440 - $1,760

Rent Est.

$250,076  ( +6.87%)   1 YR EST. FORECAST

PROPERTY INFO

August 21, 2020 RECENTLY ADDED
FACTS
  • Built In 2010
  • Price/Sqft : $167.74
  • 6 Days on Market
  • MLS # : 14417081
  • Updated Date : 08/24/2020 at 17:40
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,395 sqft
  • Baths : 2 full
Listing Agent

Atkins & Co.

Listing Agent's Description

Totally immaculate and very well taken care of and maintained 3-2-2 on an oversized lot in north Weatherford in a quiet and good neighborhood. Inviting and open floor plan with neutral colors throughout with frieze carpet and ceramic tile floors and decorative lighting fixtures throughout. Large area behind the fence in back yard could be used for a garden or plenty of room for a possible shop. Covered patio in back with an awesome view that will be inviting to view those beautiful Texas sunsets. This is a perfect home for downsizers or possible first time buyers. Don't miss this one.

SEE MORE

MARKET HIGHLIGHTS

  • . 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)
  • 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)

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
Juan N. Seguin Elementary School Primary Regular 611 42 3
Tison Middle School Middle Regular 554 39 5
Weatherford High School High Regular 2,238 148 6

Juan N. Seguin Elementary School

  • Education Level: Primary
  • # of students: 611
  • # of teachers: 42
3
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
 

$210,600$257,400$234,000

PURCHASE PRICE

$1,440$1,760$1,600

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,600
EXPENSES Loan Payment -$863
Property Tax -$498
Property Insurance -$108
Property Management Fees -$99
CASH FLOW
$32

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.

$234,000

PROJECTED PRICE

$1,600

PROJECTED RENT

0.68%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.74%
Appreciation Year (1-5) 6.87%
Maintenance Year (1-5) 8.00%
Vacancy 6.69%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$67,760

INVESTMENT

$67,760

Down Payment
$58,500
Rehab Estimate
$5,750
Closing Costs
$3,510

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$863

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $58,500
Loan Amount $175,500
See What Happens When You Reinvest Cash Flow

5.25

YEARS SAVED

$14,933

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,600

    LIST RENT
  • $1.15

    LIST RENT PER SQFT
  • $1,653

    COMP ESTIMATED VALUE
  • $1.19

    COMP AVG. RENT PER SQFT
Comps Range
$1,495
1$1,4952$1,5003$1,6004$1,6005$1,625
$1,625
RENT COMPS ANALYSIS
  • 921 King Street Weatherford, TX 4
    • 3 beds 2 baths ∙ 1,395 Sqft ∙ Built 2010 3 beds 2 baths ∙ 1,395 Sqft ∙ Built 2010
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $1.15
    •  
  • 328 Ridgeway Boulevard Weatherford, TX 1
    • 3 beds 2 baths ∙ 1,234 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,234 Sqft ∙ Built 2002
    LEASED 03/06/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $1.21
    •  
  • 1010 Story Book Lane Weatherford, TX 2
    • 3 beds 2 baths ∙ 1,235 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,235 Sqft ∙ Built 2006
    LEASED 05/03/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $1.21
    •  
  • 1230 Newcastle Drive Weatherford, TX 3
    • 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 5
    • 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
Gary Hunter
Atkins & Co.
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14417081
Last Updated: 08/24/2020
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