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9632 Lankford Trail Fort Worth, TX 76244

4 Beds 3 Baths 2,784 sqft Built 2004

$380,000

List Price

$2,350

$2.1K - $2.6K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 14, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2004
  • Price/Sqft : $136.49
  • 1 Days on Market
  • MLS # : 14531536
  • Updated Date : 03/13/2021 at 12:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,784 sqft
  • Baths : 2 full , 1 half
Listing Agent

Keller Williams Realty

Listing Agent's Description

Beautiful 4 bed 2 full and 1 half bath home with a secondary living room or study. This home has been very gently lived in and has new paint and flooring. The home backs up to the greenbelt, with direct access to the walking trails, and is very close to the Heritage Clubhouse with access to the private Clubhouse and 10-acre Private Waterpark, Tennis Courts, Sand Volleyball, and so much more. The home is located in Fort Worth but is a part of the highly ranked Keller School District.

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
Timbercreek High School High Regular 2,957 160 8
Timbercreek High School High Unknown NA

Bette Perot Elementary School

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

Timbercreek High School

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

Timbercreek High School

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

$342,000$418,000$380,000

PURCHASE PRICE

$2,115$2,585$2,350

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,350
EXPENSES Loan Payment -$1,320
Property Tax -$871
Property Insurance -$188
HOA -$33
Property Management Fees -$99
CASH FLOW
-$161

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.

$380,000

PROJECTED PRICE

$2,350

PROJECTED RENT

0.62%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 6.0%
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$6.0k$8.0k

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$106,450

INVESTMENT

$106,450

Down Payment
$95,000
Rehab Estimate
$5,750
Closing Costs
$5,700

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,320

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $95,000
Loan Amount $285,000
See What Happens When You Reinvest Cash Flow

2.17

YEARS SAVED

$5,822

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,350

    LIST RENT
  • $0.84

    LIST RENT PER SQFT
  • $2,346

    COMP ESTIMATED VALUE
  • $0.84

    COMP AVG. RENT PER SQFT
Comps Range
$2,095
1$2,0952$2,1953$2,2004$2,3505$2,395
$2,395
RENT COMPS ANALYSIS
  • 9632 Lankford Trail Fort Worth, TX 4
    • 4 beds 3 baths ∙ 2,784 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,784 Sqft ∙ Built 2004
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $0.84
    •  
  • 10004 Shelburne Road Fort Worth, TX 1
    • 4 beds 3 baths ∙ 2,649 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,649 Sqft ∙ Built 2005
    property image
    LEASED 04/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,095
    • $0.79
    •  
  • 4000 Drexmore Road Fort Worth, TX 2
    • 4 beds 3 baths ∙ 2,658 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,658 Sqft ∙ Built 2003
    property image
    LEASED 08/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,195
    • $0.83
    •  
  • 3821 Tidball Drive Fort Worth, TX 3
    • 4 beds 3 baths ∙ 2,618 Sqft ∙ Built 2002 4 beds 3 baths ∙ 2,618 Sqft ∙ Built 2002
    property image
    LEASED 04/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.84
    •  
  • 9717 Sinclair Street Fort Worth, TX 5
    • 4 beds 3 baths ∙ 2,624 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,624 Sqft ∙ Built 2006
    property image
    LEASED 12/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,395
    • $0.91
    •  
PROPERTY LISTING DETAILS
Samuel Flores
Keller Williams Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14531536
Last Updated: 03/13/2021
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