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928 Glenndon Drive Fort Worth, TX 76120

3 Beds 2 Baths 1,876 sqft Built 2012

INVESTimate

$235,000

List Price

$1,530

$1,377 - $1,683

Rent Est.

$258,429  ( +9.97%)   1 YR EST. FORECAST

PROPERTY INFO

August 25, 2020 RECENTLY ADDED
FACTS
  • Built In 2012
  • Price/Sqft : $125.27
  • 2 Days on Market
  • MLS # : 14417690
  • Updated Date : 08/25/2020 at 22:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,876 sqft
  • Baths : 2 full
Listing Agent

Orchard Brokerage

Listing Agent's Description

A Matterport 3D virtual tour is linked. Beautiful home in a great subdivision close to parks and schools. Two-car garage and tasteful, easy-maintenance landscaping. Covered entryway and spacious foyer. Open concept with the family room open to the breakfast area and kitchen. The kitchen has a spacious island with breakfast bar, backsplash, stainless steel appliances, and walk-in pantry. Abundant natural light throughout the home. There is an office with french doors. The master suite is a great size with a walk-in closet and a full bath with dual vanities, a garden tub, and a separate shower. The covered patio looks out to the spacious private yard. A great place to relax and entertain guests. Cleaned routinely

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: Harmony Hills

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240kPrice in $88k243k

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

Neighborhood: Harmony Hills

NeighborhoodNIR Market*CityMarket2010Year20002019 Q290010001100120013001400150016001700Rent in $8471734

* 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
Lowery Road Elementary School Primary Regular 692 39 5
Handley Middle School Middle Regular 521 42 4
Eastern Hills High School High Regular 1,215 96 2

Lowery Road Elementary School

  • Education Level: Primary
  • # of students: 692
  • # of teachers: 39
5
GreatSchools Rating

Handley Middle School

  • Education Level: Middle
  • # of students: 521
  • # of teachers: 42
4
GreatSchools Rating

Eastern Hills High School

  • Education Level: High
  • # of students: 1,215
  • # of teachers: 96
2
GreatSchools Rating
 

$211,500$258,500$235,000

PURCHASE PRICE

$1,377$1,683$1,530

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-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,530
EXPENSES Loan Payment -$867
Property Tax -$539
Property Insurance -$136
HOA -$21
Property Management Fees -$99
CASH FLOW
-$131

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.

$235,000

PROJECTED PRICE

$1,530

PROJECTED RENT

0.65%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.74%
Appreciation Year (1-5) 9.97%
Maintenance Year (1-5) 8.00%
Vacancy 6.69%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$68,025

INVESTMENT

$68,025

Down Payment
$58,750
Rehab Estimate
$5,750
Closing Costs
$3,525

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$867

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $58,750
Loan Amount $176,250
See What Happens When You Reinvest Cash Flow

1.67

YEARS SAVED

$3,125

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,530

    LIST RENT
  • $0.82

    LIST RENT PER SQFT
  • $1,637

    COMP ESTIMATED VALUE
  • $0.87

    COMP AVG. RENT PER SQFT
Comps Range
$1,525
1$1,5252$1,5303$1,5754$1,5755$1,595
$1,595
RENT COMPS ANALYSIS
  • 928 Glenndon Drive Fort Worth, TX 2
    • 3 beds 2 baths ∙ 1,876 Sqft ∙ Built 2012 3 beds 2 baths ∙ 1,876 Sqft ∙ Built 2012
    • Rent
    • Rent Per SQFT
    •  
    • $1,530
    • $0.82
    •  
  • 941 Newberry Trail Fort Worth, TX 1
    • 3 beds 2 baths ∙ 1,776 Sqft ∙ Built 2009 3 beds 2 baths ∙ 1,776 Sqft ∙ Built 2009
    LEASED 08/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,525
    • $0.86
    •  
  • 817 Honey Dew Lane Fort Worth, TX 3
    • 3 beds 2 baths ∙ 1,992 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,992 Sqft ∙ Built 2006
    LEASED 11/20/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,575
    • $0.79
    •  
  • 7000 Sylvan Meadows Drive Fort Worth, TX 4
    • 3 beds 2 baths ∙ 1,720 Sqft ∙ Built 2008 3 beds 2 baths ∙ 1,720 Sqft ∙ Built 2008
    LEASED 01/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,575
    • $0.92
    •  
  • 916 Iona Drive Fort Worth, TX 5
    • 4 beds 2 baths ∙ 1,742 Sqft ∙ Built 2014 4 beds 2 baths ∙ 1,742 Sqft ∙ Built 2014
    LEASED 07/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.92
    •  
PROPERTY LISTING DETAILS
Courtney Anthony
Orchard Brokerage
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14417690
Last Updated: 08/25/2020
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