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960 Stone Chapel Way Fort Worth, TX 76179

3 Beds 3 Baths 2,178 sqft Built 2004

$229,900

List Price

$1,650

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

November 17, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2004
  • Price/Sqft : $105.56
  • 6 Days on Market
  • MLS # : 14472025
  • Updated Date : 11/17/2020 at 10:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,178 sqft
  • Baths : 2 full , 1 half
Listing Agent

The Property Shop

Listing Agent's Description

3 bed, 2.5 bath, formal dining, main living area downstairs, game room upstairs, eat-in kitchen, and plenty of room to entertain. Recent updates include, wood flooring and ceramic tile throughout first floor, HVAC unit 2020, stainless steel appliances 2020, water heater 2019, fireplace, and roof in 2016. HOA amenities include a community pool. Very easy access to 820, 35W, Downtown Fort Worth, NASJRB, and shopping and eating areas. Eagle Mountain Saginaw ISD.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Zip Code: 76179

ZipNIR Market*CityMarket2010Year20002019110k120k130k140k150k160k170k180k190k200k210k220k230k240kPrice in $104k243k

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

Zip Code: 76179

ZipNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700Rent in $9191734

* 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
Remington Point Elementary School Primary Regular 637 37 5
Ed Willkie Middle School Middle Regular 862 53 5

Remington Point Elementary School

  • Education Level: Primary
  • # of students: 637
  • # of teachers: 37
5
GreatSchools Rating

Ed Willkie Middle School

  • Education Level: Middle
  • # of students: 862
  • # of teachers: 53
5
GreatSchools Rating
 

$206,910$252,890$229,900

PURCHASE PRICE

$1,485$1,815$1,650

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,650
EXPENSES Loan Payment -$848
Property Tax -$527
Property Insurance -$153
HOA -$30
Property Management Fees -$99
CASH FLOW
-$7

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.

$229,900

PROJECTED PRICE

$1,650

PROJECTED RENT

0.72%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 7.5%
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

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$66,674

INVESTMENT

$66,674

Down Payment
$57,475
Rehab Estimate
$5,750
Closing Costs
$3,449

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$848

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $57,475
Loan Amount $172,425
See What Happens When You Reinvest Cash Flow

4.25

YEARS SAVED

$10,898

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,650

    LIST RENT
  • $0.76

    LIST RENT PER SQFT
  • $1,683

    COMP ESTIMATED VALUE
  • $0.77

    COMP AVG. RENT PER SQFT
Comps Range
$1,595
1$1,5952$1,6503$1,6954$1,7005$1,750
$1,750
RENT COMPS ANALYSIS
  • 960 Stone Chapel Way Fort Worth, TX 2
    • 3 beds 3 baths ∙ 2,178 Sqft ∙ Built 2004 3 beds 3 baths ∙ 2,178 Sqft ∙ Built 2004
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.76
    •  
  • 5056 River Rock Boulevard Fort Worth, TX 1
    • 4 beds 2 baths ∙ 2,105 Sqft ∙ Built 2006 4 beds 2 baths ∙ 2,105 Sqft ∙ Built 2006
    LEASED 03/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.76
    •  
  • 5105 Cliff Oaks Drive Fort Worth, TX 3
    • 3 beds 3 baths ∙ 2,235 Sqft ∙ Built 2004 3 beds 3 baths ∙ 2,235 Sqft ∙ Built 2004
    LEASED 02/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.76
    •  
  • 5337 Lava Rock Drive Fort Worth, TX 4
    • 3 beds 3 baths ∙ 2,376 Sqft ∙ Built 2006 3 beds 3 baths ∙ 2,376 Sqft ∙ Built 2006
    LEASED 06/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.72
    •  
  • 5017 Village Stone Court Fort Worth, TX 5
    • 4 beds 2 baths ∙ 2,067 Sqft ∙ Built 2004 4 beds 2 baths ∙ 2,067 Sqft ∙ Built 2004
    LEASED 11/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.85
    •  
PROPERTY LISTING DETAILS
Lisa Hawkins
The Property Shop
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14472025
Last Updated: 11/17/2020
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