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$239,900

For Sale - Active
2517 Glencrest Dr, Fort Worth, TX 76119
5 Beds
5 Baths
2,053 Square Feet
0.22 Acres Lot
Built in 1940
For Sale - Active
Units n/a
Checked: 5 hours ago
Updated: May 24, 2025 at 03:29AM

Investment Summary


Monthly Cash Flow
$61
Cap Rate
6.0%
Cash-on-Cash Return
1.3%
Debt Coverage Ratio
1.05
Internal Rate of Return (5 years)
5.3%

Property Description


0.22 Acres Lot
Built in 1940
For Sale - Active
Units n/a

ATTENTION AGENTS & BROKERS - Now offered at an improved price point, this Fort Worth property awaits a visionary transformation. Presently structured as a 5-Plex, it carries a clear directive from the City of Fort Worth: conversion back to its original single-family use. This requirement, however, unveils immense potential for value creation and specialized housing solutions. Consider the compelling possibilities: once thoughtfully converted, this property could become an outstanding co-living residence, offering private, self-contained living spaces within a communal home. It is also ideally suited for student housing, providing comfortable and independent living arrangements, or for a group home requiring multiple private living areas. The ideal configuration involves crafting three or four generously sized bedrooms, each boasting a dedicated en-suite bathroom, a highly sought-after feature that will maximize appeal and rental income. This property is not merely a renovation project; it is an opportunity to reposition a structure for significant future returns.This home was converted to a 5-Plex and MUST be converted back to its highest & best use as single family, per the City of Fort Worth. The property offers investors a versatile opportunity with significant upside, ideal for a group home, a generational home, or student housing once converted. Situated on a spacious lot with mature trees, the structure is primed for conversion back into a single-family home, making it ideal for those looking to maximize value through redevelopment. Located in a well-established neighborhood with easy access to schools, shopping, and major transit routes, this property combines convenience with long-term potential. Whether you are looking to create a standout single-family home or explore other possibilities, this property delivers flexibility and opportunity.

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Location


Property Details


Parking

  • Description: Driveway
  • Details: Driveway
  • Garage Spaces: 0
  • Spaces Total: 0

Bedroom Information

  • # of Bedrooms: 5

Bathroom Information

  • # of Baths (Full): 5
  • # of Baths (Total): 5.0

Interior Features

  • # of Rooms: 2
  • # of Stories: 1

Exterior Features

  • Roof Material: Composition

Land Information

  • Land Use: Residential
  • Land Use Subtype: Single Family Residential

Lot Information

  • Parcel ID: 15540211
  • Lot Size: 9583 sqft

Property Information

  • Property Type: Single Family Residence
  • Style: Other
  • Year Built: 1940

Tax Information

  • Annual Tax: $4,689

Utilities

  • Water & Sewer: Public
  • Heating: Electric, Wall Furnace
  • Cooling: Window Unit(s)

Location

  • County: Tarrant

Listing Details


Listed by:
Tiffany Ingram
eXp Realty LLC
(214) 354-5670

Source:
North Texas Real Estate Information Systems (NTREIS)
MLS#: 20784386
North Texas Real Estate Information Systems (NTREIS)

Investment Summary


Monthly Cash Flow
$61
Cap Rate
6.0%
Cash-on-Cash Return
1.3%
Debt Coverage Ratio
1.05
Internal Rate of Return (5 years)
5.3%

Purchase Details

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Purchase price:
$239,900
Amount financed:
-$191,920
Down payment:
$47,980
Closing costs:
$7,197
Rehab costs:
$0
Initial cash invested:
$55,177
Square feet:
2,053
Cost per square foot:
$117
Monthly rent per square foot:
$1.12

Financing Details

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Loan amount:
$191,920
Loan to value ratio:
80.0%
Loan type:
Amortizing
Term:
30 years
Interest rate:
5.875%
Principal & interest:
$1,135
Property tax:
$391
Insurance:
$161
Private mortgage insurance (PMI):
$0
Monthly payment:
$1,687

Operating Income

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% Rent Monthly Yearly
Gross rent:
$2,300 $27,600
Vacancy loss: (6%)
6% -$138 -$1,656
Operating income:
$2,162 $25,944

Operating Expenses


% Rent Monthly Yearly
Property taxes: (17%)
17%-$391-$4,689
Insurance: (7%)
7%-$161-$1,932
Property management: (8%)
8%-$184-$2,208
Repairs & maintenance: (5%)
5%-$115-$1,380
Capital expenditures: (5%)
5%-$115-$1,380
HOA fees: (n/a)
n/an/an/a
Total operating expenses: (42%)
42%-$966-$11,589

Cash Flow


Monthly Yearly
Net operating income:
$1,196 $14,352
Mortgage payments:
-$1,135 -$13,620
Cash flow:
$61 $732