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9940 Sparrow Hawk Lane Fort Worth, TX 76108

3 Beds 3 Baths 1,920 sqft Built 2006

$215,000

List Price

$1,630

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

November 04, 2020 RECENTLY ADDED
FACTS
  • Built In 2006
  • Price/Sqft : $111.98
  • 5 Days on Market
  • MLS # : 14464139
  • Updated Date : 11/05/2020 at 20:23
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,920 sqft
  • Baths : 2 full , 1 half
Listing Agent

Fort Worth Texas Real Estate

Listing Agent's Description

Beautiful home in west Fort Worth with open concept floorplan. New laminate flooring throughout, New ceramic tile floors in kitchen and both bathrooms, new paint throughout, new french patio doors, large open kitchen with Island. The utility room works as a laundry room and features extra storage or pantry. All bedrooms have walk-in closets. Call to schedule a tour of this home. I do not think it will last on the market long.

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: Falcon Ridge

NeighborhoodNIR Market*CityMarket2010Year20002019110k120k130k140k150k160k170k180k190k200k210k220k230k240kPrice in $104k243k

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

Neighborhood: Falcon Ridge

NeighborhoodNIR 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
North Elementary School Primary Regular 840 44 6
Brewer Middle School Middle Regular 986 55 6
Brewer Middle School High Regular 986 55 6

North Elementary School

  • Education Level: Primary
  • # of students: 840
  • # of teachers: 44
6
GreatSchools Rating

Brewer Middle School

  • Education Level: Middle
  • # of students: 986
  • # of teachers: 55
6
GreatSchools Rating

Brewer Middle School

  • Education Level: High
  • # of students: 986
  • # of teachers: 55
6
GreatSchools Rating
 

$193,500$236,500$215,000

PURCHASE PRICE

$1,467$1,793$1,630

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,630
EXPENSES Loan Payment -$793
Property Tax -$493
Property Insurance -$138
Property Management Fees -$99
CASH FLOW
$107

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.

$215,000

PROJECTED PRICE

$1,630

PROJECTED RENT

0.76%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 2.1%
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

PROJECTED ANNUAL CASH FLOW

11530-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$62,725

INVESTMENT

$62,725

Down Payment
$53,750
Rehab Estimate
$5,750
Closing Costs
$3,225

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$793

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $53,750
Loan Amount $161,250
See What Happens When You Reinvest Cash Flow

7

YEARS SAVED

$20,989

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,630

    LIST RENT
  • $0.85

    LIST RENT PER SQFT
  • $1,637

    COMP ESTIMATED VALUE
  • $0.85

    COMP AVG. RENT PER SQFT
Comps Range
$1,630
1$1,6302$1,6503$1,6504$1,6505$1,699
$1,699
RENT COMPS ANALYSIS
  • 9940 Sparrow Hawk Lane Fort Worth, TX 1
    • 3 beds 3 baths ∙ 1,920 Sqft ∙ Built 2006 3 beds 3 baths ∙ 1,920 Sqft ∙ Built 2006
    • Rent
    • Rent Per SQFT
    •  
    • $1,630
    • $0.85
    •  
  • 9865 Sparrow Hawk Lane Fort Worth, TX 2
    • 3 beds 2 baths ∙ 1,915 Sqft ∙ Built 2007 3 beds 2 baths ∙ 1,915 Sqft ∙ Built 2007
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.86
    •  
  • 9845 Osprey Drive Fort Worth, TX 3
    • 3 beds 2 baths ∙ 1,924 Sqft ∙ Built 2007 3 beds 2 baths ∙ 1,924 Sqft ∙ Built 2007
    LEASED 06/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.86
    •  
  • 601 Osprey Court Fort Worth, TX 4
    • 3 beds 3 baths ∙ 1,950 Sqft ∙ Built 2008 3 beds 3 baths ∙ 1,950 Sqft ∙ Built 2008
    LEASED 11/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.85
    •  
  • 9921 Peregrine Trail Fort Worth, TX 5
    • 4 beds 2 baths ∙ 2,013 Sqft ∙ Built 2005 4 beds 2 baths ∙ 2,013 Sqft ∙ Built 2005
    LEASED 05/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,699
    • $0.84
    •  
PROPERTY LISTING DETAILS
Anthony Gulley
Fort Worth Texas Real Estate
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14464139
Last Updated: 11/05/2020
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