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941 Pinnacle Ridge Road Fort Worth, TX 76052

4 Beds 2 Baths 2,189 sqft Built 2017

$350,000

List Price

$2,030

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 24, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2017
  • Price/Sqft : $159.89
  • 5 Days on Market
  • MLS # : 14536064
  • Updated Date : 03/27/2021 at 13:28
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,189 sqft
  • Baths : 2 full
Listing Agent

Scottco Realty Group Llc

Listing Agent's Description

OFFER DEADLINE 8PM SATURDAY 27TH! This gently lived in home is only three years old and still has that NEW feel! With split bedrooms, open floor plan and thoughtfully designed office alcove this home has it all! LIGHT and BRIGHT with neutral colors throughout. Kitchen is equipped with a HUGE island, 5-burner gas cooktop, pull-out shelving and under cabinet lighting. The OVERSIZED master has a bay window perfect for a sitting area. Two of the secondary bedrooms have custom Elfa closet systems. The home backs to green space so no neighbors immediately behind! Patio is plumbed for gas.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • . 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)

PRICE & RENT TRENDS

Zip Code: 76052

ZipNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320kPrice in $123k336k

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

Zip Code: 76052

ZipNIR Market*CityMarket2010Year20002019 Q21200130014001500160017001800190020002100Rent in $11262171

* 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
Carl E. Schluter Elementary School Primary Regular 524 33 7
Chisholm Trail Middle School Middle Regular 899 64 7
Byron Nelson High School High Unknown NA

Carl E. Schluter Elementary School

  • Education Level: Primary
  • # of students: 524
  • # of teachers: 33
7
GreatSchools Rating

Chisholm Trail Middle School

  • Education Level: Middle
  • # of students: 899
  • # of teachers: 64
7
GreatSchools Rating

Byron Nelson High School

  • Education Level: High
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$315,000$385,000$350,000

PURCHASE PRICE

$1,827$2,233$2,030

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,030
EXPENSES Loan Payment -$1,216
Property Tax -$837
Property Insurance -$154
HOA -$33
Property Management Fees -$99
CASH FLOW
-$308

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.

$350,000

PROJECTED PRICE

$2,030

PROJECTED RENT

0.58%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 7.5%
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$1.0M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$98,500

INVESTMENT

$98,500

Down Payment
$87,500
Rehab Estimate
$5,750
Closing Costs
$5,250

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 75% down payment or higher enables the proceeds from the asset to cover all costs.

$1,216

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $87,500
Loan Amount $262,500
See What Happens When You Reinvest Cash Flow

0.58

YEARS SAVED

$814

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,030

    LIST RENT
  • $0.93

    LIST RENT PER SQFT
  • $2,019

    COMP ESTIMATED VALUE
  • $0.92

    COMP AVG. RENT PER SQFT
Comps Range
$1,895
1$1,8952$2,0003$2,0304$2,1005$2,100
$2,100
RENT COMPS ANALYSIS
  • 941 Pinnacle Ridge Road Haslet, TX 3
    • 4 beds 2 baths ∙ 2,189 Sqft ∙ Built 2017 4 beds 2 baths ∙ 2,189 Sqft ∙ Built 2017
    • Rent
    • Rent Per SQFT
    •  
    • $2,030
    • $0.93
    •  
  • 1020 Crest Meadow Drive Fort Worth, TX 1
    • 4 beds 2 baths ∙ 2,126 Sqft ∙ Built 2008 4 beds 2 baths ∙ 2,126 Sqft ∙ Built 2008
    LEASED 01/13/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.89
    •  
  • 716 Mistymoor Lane Fort Worth, TX 2
    • 4 beds 2 baths ∙ 2,142 Sqft ∙ Built 2004 4 beds 2 baths ∙ 2,142 Sqft ∙ Built 2004
    LEASED 02/24/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.93
    •  
  • 1012 Mesa Crest Drive Fort Worth, TX 4
    • 3 beds 2 baths ∙ 2,236 Sqft ∙ Built 2015 3 beds 2 baths ∙ 2,236 Sqft ∙ Built 2015
    LEASED 06/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.94
    •  
  • 11321 Gold Canyon Drive Fort Worth, TX 5
    • 4 beds 3 baths ∙ 2,256 Sqft ∙ Built 2017 4 beds 3 baths ∙ 2,256 Sqft ∙ Built 2017
    LEASED 10/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.93
    •  
PROPERTY LISTING DETAILS
Raean Murray
Scottco Realty Group Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14536064
Last Updated: 03/27/2021
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