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9624 Delmonico Drive Fort Worth, TX 76244

3 Beds 2 Baths 2,385 sqft Built 2002

INVESTimate

$300,000

List Price

$2,060

$1,854 - $2,266

Rent Est.

$317,880  ( +5.96%)   1 YR EST. FORECAST

PROPERTY INFO

FACTS
  • Built In 2002
  • Price/Sqft : $125.79
  • 9 Days on Market
  • MLS # : 14414810
  • Updated Date : 08/25/2020 at 20:01
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,385 sqft
  • Baths : 2 full
Listing Agent

Exp Realty Llc

Listing Agent's Description

Beautiful home situated on corner lot in Heritage. An abundance of natural light radiates throughout this fantastic open concept home. Large kitchen with island, gas cooktop, ample counter and cabinet space. Breakfast bar and eating area. Spacious living room with fireplace. Large primary bedroom. Primary bath features jetted tub, separate shower, dual vanities, and walk-in closet. Split bedrooms. Formal dining. Office. Large patio overlooking backyard is ideal for entertaining. Secondary patio. Quality upgrades including new roof and windows installed 2019. Newer fence. Great HOA amenities including community pool, jogging trails, tennis and playground. Close to schools and shopping.

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

Neighborhood: Heritage

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $104k336k

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

Neighborhood: Heritage

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700180019002000210022002300Rent in $9192376

* 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
Bette Perot Elementary School Primary Regular 666 42 9
Timberview Middle School Middle Regular 1,113 72 7
Timbercreek High School High Regular 2,957 160 8

Bette Perot Elementary School

  • Education Level: Primary
  • # of students: 666
  • # of teachers: 42
9
GreatSchools Rating

Timberview Middle School

  • Education Level: Middle
  • # of students: 1,113
  • # of teachers: 72
7
GreatSchools Rating

Timbercreek High School

  • Education Level: High
  • # of students: 2,957
  • # of teachers: 160
8
GreatSchools Rating
 

$270,000$330,000$300,000

PURCHASE PRICE

$1,854$2,266$2,060

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k$900k

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,060
EXPENSES Loan Payment -$1,107
Property Tax -$714
Property Insurance -$165
HOA -$33
Property Management Fees -$99
CASH FLOW
-$58

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.

$300,000

PROJECTED PRICE

$2,060

PROJECTED RENT

0.69%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 5.96%
Maintenance Year (1-5) 8.00%
Vacancy 6.93%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$85,250

INVESTMENT

$85,250

Down Payment
$75,000
Rehab Estimate
$5,750
Closing Costs
$4,500

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,107

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $75,000
Loan Amount $225,000
See What Happens When You Reinvest Cash Flow

3.42

YEARS SAVED

$10,496

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,060

    LIST RENT
  • $0.86

    LIST RENT PER SQFT
  • $2,069

    COMP ESTIMATED VALUE
  • $0.87

    COMP AVG. RENT PER SQFT
Comps Range
$1,875
1$1,8752$1,9753$2,0604$2,1755$2,195
$2,195
RENT COMPS ANALYSIS
  • 9624 Delmonico Drive Fort Worth, TX 3
    • 3 beds 2 baths ∙ 2,385 Sqft ∙ Built 2002 3 beds 2 baths ∙ 2,385 Sqft ∙ Built 2002
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,060
    • $0.86
    •  
  • 9909 Delamere Drive Fort Worth, TX 1
    • 3 beds 3 baths ∙ 2,210 Sqft ∙ Built 2004 3 beds 3 baths ∙ 2,210 Sqft ∙ Built 2004
    property image
    LEASED 09/03/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,875
    • $0.85
    •  
  • 3513 Amador Drive Fort Worth, TX 2
    • 3 beds 3 baths ∙ 2,387 Sqft ∙ Built 2002 3 beds 3 baths ∙ 2,387 Sqft ∙ Built 2002
    property image
    LEASED 08/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,975
    • $0.83
    •  
  • 9124 Addison Drive Fort Worth, TX 4
    • 3 beds 2 baths ∙ 2,380 Sqft ∙ Built 2004 3 beds 2 baths ∙ 2,380 Sqft ∙ Built 2004
    property image
    LEASED 08/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,175
    • $0.91
    •  
  • 9700 Hathman Lane Fort Worth, TX 5
    • 3 beds 3 baths ∙ 2,499 Sqft ∙ Built 2003 3 beds 3 baths ∙ 2,499 Sqft ∙ Built 2003
    property image
    LEASED 08/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,195
    • $0.88
    •  
PROPERTY LISTING DETAILS
Michael Kerr
Exp Realty Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14414810
Last Updated: 08/25/2020
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