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928 Albany Drive Fort Worth, TX 76131

4 Beds 3 Baths 2,600 sqft Built 2014

$314,900

List Price

$1,720

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 26, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2014
  • Price/Sqft : $121.12
  • 3 Days on Market
  • MLS # : 14520361
  • Updated Date : 02/27/2021 at 14:07
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,600 sqft
  • Baths : 2 full , 1 half
Listing Agent

Epic National Realty, Llc

Listing Agent's Description

MULTIPLE OFFERS RECIEVED---- Please submit highest and best by 5p.m. Sunday 2-28-2021 Well maintained four bedroom, two and half bath with master down! Upstairs you will find three bedrooms with a game room. Open concept kitchen features stainless steel appliances, double oven, and granite countertops. Back yard is big enough for your social gatherings or even a pool. This is a must see!

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

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
 

$283,410$346,390$314,900

PURCHASE PRICE

$1,548$1,892$1,720

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,720
EXPENSES Loan Payment -$1,094
Property Tax -$722
Property Insurance -$177
HOA -$30
Property Management Fees -$99
CASH FLOW
-$402

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.

$314,900

PROJECTED PRICE

$1,720

PROJECTED RENT

0.55%

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

PROJECTED ANNUAL CASH FLOW

11530-$10k-$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$89,199

INVESTMENT

$89,199

Down Payment
$78,725
Rehab Estimate
$5,750
Closing Costs
$4,724

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 80% down payment or higher enables the proceeds from the asset to cover all costs.

$1,094

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $78,725
Loan Amount $236,175
See What Happens When You Reinvest Cash Flow

0.08

YEARS SAVED

$33

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,720

    LIST RENT
  • $0.66

    LIST RENT PER SQFT
  • $1,885

    COMP ESTIMATED VALUE
  • $0.72

    COMP AVG. RENT PER SQFT
Comps Range
$1,720
1$1,7202$1,8003$1,8004$1,8455$2,155
$2,155
RENT COMPS ANALYSIS
  • 928 Albany Drive Fort Worth, TX 1
    • 4 beds 3 baths ∙ 2,600 Sqft ∙ Built 2014 4 beds 3 baths ∙ 2,600 Sqft ∙ Built 2014
    • Rent
    • Rent Per SQFT
    •  
    • $1,720
    • $0.66
    •  
  • 1341 Cattle Crossing Drive Fort Worth, TX 2
    • 4 beds 3 baths ∙ 2,603 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,603 Sqft ∙ Built 2005
    LEASED 08/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.69
    •  
  • 8401 Tribute Lane Fort Worth, TX 3
    • 4 beds 3 baths ∙ 2,760 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,760 Sqft ∙ Built 2003
    LEASED 02/05/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.65
    •  
  • 8405 Prairie Dawn Drive Fort Worth, TX 4
    • 4 beds 3 baths ∙ 2,426 Sqft ∙ Built 2002 4 beds 3 baths ∙ 2,426 Sqft ∙ Built 2002
    LEASED 03/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,845
    • $0.76
    •  
  • 9149 Liberty Crossing Drive Fort Worth, TX 5
    • 4 beds 3 baths ∙ 2,688 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,688 Sqft ∙ Built 2006
    LEASED 06/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,155
    • $0.80
    •  
PROPERTY LISTING DETAILS
Tom Jung
Epic National Realty, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14520361
Last Updated: 02/27/2021
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