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9240 Castorian Drive Fort Worth, TX 76131

4 Beds 2 Baths 1,771 sqft Built 2019

$270,000

List Price

$1,780

$1.6K - $2K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 25, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2019
  • Price/Sqft : $152.46
  • 4 Days on Market
  • MLS # : 14522289
  • Updated Date : 02/25/2021 at 15:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,771 sqft
  • Baths : 2 full
Listing Agent

Century 21 Judge Fite Co.

Listing Agent's Description

Beautiful Home in the community of Watersbend in North Fort Worth. with Four Bedrooms and , Spacious Living & Dining open To a large Chef's Kitchen with granite countertops, Stainless Steel Appliances (Stove, Dishwasher, Microwave), and a covered Back Patio.

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: 76131

ZipNIR Market*CityMarket2010Year20002019110k120k130k140k150k160k170k180k190k200k210k220k230k240kPrice in $104k243k

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

Zip Code: 76131

ZipNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700Rent in $9191734

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

SCHOOLS

 
Sorry, we do not have sufficient school data for this neighborhood.
 

$243,000$297,000$270,000

PURCHASE PRICE

$1,602$1,958$1,780

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,780
EXPENSES Loan Payment -$938
Property Tax -$619
Property Insurance -$130
HOA -$30
Property Management Fees -$99
CASH FLOW
-$36

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 14% of earned rent to cover both maintenance and periods of vacancy.

$270,000

PROJECTED PRICE

$1,780

PROJECTED RENT

0.66%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 6.7%
Maintenance Year (1-5) 8.00%
Vacancy 6.39%
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$800k

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$77,300

INVESTMENT

$77,300

Down Payment
$67,500
Rehab Estimate
$5,750
Closing Costs
$4,050

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$938

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $67,500
Loan Amount $202,500
See What Happens When You Reinvest Cash Flow

3.58

YEARS SAVED

$8,727

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,780

    LIST RENT
  • $1.01

    LIST RENT PER SQFT
  • $1,753

    COMP ESTIMATED VALUE
  • $0.99

    COMP AVG. RENT PER SQFT
Comps Range
$1,700
1$1,7002$1,7503$1,7804$1,7955$1,800
$1,800
RENT COMPS ANALYSIS
  • 9240 Castorian Drive Fort Worth, TX 3
    • 4 beds 2 baths ∙ 1,771 Sqft ∙ Built 2019 4 beds 2 baths ∙ 1,771 Sqft ∙ Built 2019
    • Rent
    • Rent Per SQFT
    •  
    • $1,780
    • $1.01
    •  
  • 529 Foxcraft Drive Fort Worth, TX 1
    • 3 beds 2 baths ∙ 1,774 Sqft ∙ Built 2014 3 beds 2 baths ∙ 1,774 Sqft ∙ Built 2014
    LEASED 09/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.96
    •  
  • 517 Braewick Drive Fort Worth, TX 2
    • 3 beds 2 baths ∙ 1,707 Sqft ∙ Built 2014 3 beds 2 baths ∙ 1,707 Sqft ∙ Built 2014
    LEASED 05/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $1.03
    •  
  • 244 Wild Onion Lane Fort Worth, TX 4
    • 4 beds 2 baths ∙ 1,813 Sqft ∙ Built 2020 4 beds 2 baths ∙ 1,813 Sqft ∙ Built 2020
    LEASED 01/01/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.99
    •  
  • 9308 Hill Topper Trail Fort Worth, TX 5
    • 4 beds 2 baths ∙ 1,836 Sqft ∙ Built 2021 4 beds 2 baths ∙ 1,836 Sqft ∙ Built 2021
    LEASED 02/01/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.98
    •  
PROPERTY LISTING DETAILS
Araceli Mercado
Century 21 Judge Fite Co.
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14522289
Last Updated: 02/25/2021
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