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9813 Gallatin Lane Fort Worth, TX 76177

3 Beds 2 Baths 1,536 sqft Built 2005

$240,000

List Price

$1,580

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

December 23, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2005
  • Price/Sqft : $156.25
  • 5 Days on Market
  • MLS # : 14489897
  • Updated Date : 12/23/2020 at 15:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,536 sqft
  • Baths : 2 full
Listing Agent

Keller Williams-johnson County

Listing Agent's Description

Conveniently located near schools and shopping with easy access to the expressway while still being on a quiet street, this 3 bedroom 2 bath home has new luxury vinyl wood plank flooring and granite kitchen counters. Large dining area and living area with gas fireplace. Home has abundant windows for natural lighting and several window seats. Separate laundry room off the kitchen. All walk in closets. Home is close to HOA amenities which include large swimming pool and play ground, community building, basketball court, hiking-biking trails, lake and greenbelt. Near Heritage Trace Pkwy and I-35, Northwest ISD. Homes in desirable Tehama Ridge sell quickly. This is an opportunity you don't want to miss!!

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: Tehama Ridge

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $104k336k

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

Neighborhood: Tehama Ridge

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100011001200130014001500160017001800190020002100Rent in $9192171

* 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
O.a. Peterson Elementary School Primary Regular 770 48 6
John M. Tidwell Middle School Middle Regular 1,048 65 8
Byron Nelson High School High Regular 2,552 147 8

O.a. Peterson Elementary School

  • Education Level: Primary
  • # of students: 770
  • # of teachers: 48
6
GreatSchools Rating

John M. Tidwell Middle School

  • Education Level: Middle
  • # of students: 1,048
  • # of teachers: 65
8
GreatSchools Rating

Byron Nelson High School

  • Education Level: High
  • # of students: 2,552
  • # of teachers: 147
8
GreatSchools Rating
 

$216,000$264,000$240,000

PURCHASE PRICE

$1,422$1,738$1,580

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,580
EXPENSES Loan Payment -$886
Property Tax -$550
Property Insurance -$116
HOA -$34
Property Management Fees -$99
CASH FLOW
-$105

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.

$240,000

PROJECTED PRICE

$1,580

PROJECTED RENT

0.66%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 7.0%
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$100k$200k$300k$400k$500k$600k$700k

PROJECTED ANNUAL CASH FLOW

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

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$69,350

INVESTMENT

$69,350

Down Payment
$60,000
Rehab Estimate
$5,750
Closing Costs
$3,600

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$886

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $60,000
Loan Amount $180,000
See What Happens When You Reinvest Cash Flow

2.42

YEARS SAVED

$5,123

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,580

    LIST RENT
  • $1.03

    LIST RENT PER SQFT
  • $1,574

    COMP ESTIMATED VALUE
  • $1.03

    COMP AVG. RENT PER SQFT
Comps Range
$1,580
1$1,5802$1,5953$1,6004$1,6755$1,700
$1,700
RENT COMPS ANALYSIS
  • 9813 Gallatin Lane Fort Worth, TX 1
    • 3 beds 2 baths ∙ 1,536 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,536 Sqft ∙ Built 2005
    • Rent
    • Rent Per SQFT
    •  
    • $1,580
    • $1.03
    •  
  • 10129 Bull Run Fort Worth, TX 2
    • 3 beds 2 baths ∙ 1,551 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,551 Sqft ∙ Built 2006
    LEASED 03/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $1.03
    •  
  • 2116 Carlotta Drive Fort Worth, TX 3
    • 3 beds 2 baths ∙ 1,616 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,616 Sqft ∙ Built 2006
    LEASED 02/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.99
    •  
  • 2037 Frosted Willow Lane Fort Worth, TX 4
    • 3 beds 2 baths ∙ 1,617 Sqft ∙ Built 2009 3 beds 2 baths ∙ 1,617 Sqft ∙ Built 2009
    LEASED 07/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,675
    • $1.04
    •  
  • 2341 Spruce Springs Way Fort Worth, TX 5
    • 3 beds 2 baths ∙ 1,628 Sqft ∙ Built 2008 3 beds 2 baths ∙ 1,628 Sqft ∙ Built 2008
    LEASED 09/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $1.04
    •  
PROPERTY LISTING DETAILS
Michelle Quant
Keller Williams-johnson County
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14489897
Last Updated: 12/23/2020
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