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9701 Lankford Trail Fort Worth, TX 76244

4 Beds 3 Baths 3,145 sqft Built 2005

$349,900

List Price

$2,450

$2.2K - $2.7K

Rent Est.

PROPERTY INFO

November 07, 2020 RECENTLY ADDED
FACTS
  • Built In 2005
  • Price/Sqft : $111.26
  • 2 Days on Market
  • MLS # : 14453470
  • Updated Date : 11/07/2020 at 15:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,145 sqft
  • Baths : 2 full , 1 half
Listing Agent

Re/max Four Corners

Listing Agent's Description

Great family home in the highly desired Heritage ADD and Keller ISD! Located on a large corner lot on a culdesac street, w 3 car garage. Grand kitchen and living area with soaring ceilings. Large eat-in kitchen offers ample counter and cabinet space, granite, butlers pantry, and brkfast bar. Private study w french doors located at front of house. Master bedroom down with sitting area and ensuite w jacuzzi tub, dual vanities, and large walk in closet. Upstairs offers a gameroom, 3 bedrooms and a full bath with dual sinks. Inviting private back yard w beautiful trees is a perfect place to relax at the end of the day. Resort style amenity ctr w community pools, walking trails, park, playground & private lake-pond.

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: 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
 

$314,910$384,890$349,900

PURCHASE PRICE

$2,205$2,695$2,450

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,450
EXPENSES Loan Payment -$1,291
Property Tax -$820
Property Insurance -$209
HOA -$33
Property Management Fees -$99
CASH FLOW
-$2

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.

$349,900

PROJECTED PRICE

$2,450

PROJECTED RENT

0.70%

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-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

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$98,474

INVESTMENT

$98,474

Down Payment
$87,475
Rehab Estimate
$5,750
Closing Costs
$5,249

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,291

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $87,475
Loan Amount $262,425
See What Happens When You Reinvest Cash Flow

4.25

YEARS SAVED

$17,051

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,450

    LIST RENT
  • $0.78

    LIST RENT PER SQFT
  • $2,469

    COMP ESTIMATED VALUE
  • $0.78

    COMP AVG. RENT PER SQFT
Comps Range
$2,295
1$2,2952$2,3503$2,4504$2,5955$2,675
$2,675
RENT COMPS ANALYSIS
  • 9701 Lankford Trail Fort Worth, TX 3
    • 4 beds 3 baths ∙ 3,145 Sqft ∙ Built 2005 4 beds 3 baths ∙ 3,145 Sqft ∙ Built 2005
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $0.78
    •  
  • 4116 Drexmore Road Fort Worth, TX 1
    • 4 beds 3 baths ∙ 3,337 Sqft ∙ Built 2007 4 beds 3 baths ∙ 3,337 Sqft ∙ Built 2007
    LEASED 09/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,295
    • $0.69
    •  
  • 3801 Vernon Way Fort Worth, TX 2
    • 4 beds 3 baths ∙ 3,015 Sqft ∙ Built 2002 4 beds 3 baths ∙ 3,015 Sqft ∙ Built 2002
    LEASED 09/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $0.78
    •  
  • 4117 Duncan Way Fort Worth, TX 4
    • 4 beds 3 baths ∙ 3,059 Sqft ∙ Built 2003 4 beds 3 baths ∙ 3,059 Sqft ∙ Built 2003
    LEASED 09/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,595
    • $0.85
    •  
  • 3525 Delaney Drive Fort Worth, TX 5
    • 4 beds 3 baths ∙ 3,275 Sqft ∙ Built 2006 4 beds 3 baths ∙ 3,275 Sqft ∙ Built 2006
    LEASED 08/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,675
    • $0.82
    •  
PROPERTY LISTING DETAILS
Maribeth Macdougall
Re/max Four Corners
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14453470
Last Updated: 11/07/2020
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