sales price $225,000 / ($49.34 per sf) · shade trees occur in places throughout the district, but...
TRANSCRIPT
KEN W IMBERLY, CCIM MANAGING DIRECTOR CELL 817.269.2487 DIRECT 817.635.1013 EMAIL [email protected]
PRESENTED BY:
BRANSON BLACKBURN ASSOCIATE CELL 325.864.9775 DIRECT 817.635.1014 EMAIL [email protected]
1501 W MORPHY ST FORT WORTH, TX 76104
• New Roof within the past year
• Plumbing replaced within the last 5 years
Sales Price $225,000 / ($49.34 PER SF)
• Fairmount was named one of the 10 Best Comeback Neighborhoods by Southern Living Magazine.
• Located in the Fairmount Historic District in Downtown Fort Worth
• 2 blocks from Baylor All Saints Medical Center
V2 20110824
The information contained herein was obtained from sources believed reliable; however KW Commercial McClure Partners and Noble Crest Property Group make no guarantees, warranties or representations as to the completeness or accurateness thereof. The information submitted is subject to errors, omissions, changes of price or condition; prior to sale or lease, or withdraw without notice. Any projections, assumptions or estimates are for illustration purposes only. Recipients should conduct their own investigation.
www.ncpgtexas.com
QUADRUPLEX - FAIRMOUNT HISTORIC DISTRICT 1501 W MORPHY STREET FORT WORTH, TX 76104
I. PROPERTY OVERVIEW Market Description Property Description Property Details Construction Details Mechanical Information Property Photos Excerpt from Fairmount District Guide to Rehabilitation, Restoration and New Construction
II. PROPERTY MAPS Location Maps Aerial Maps
III. FINANCIAL DATA Real Estate Investment Details Executive Summary Cash Flow Analysis Cash In Cash Out Financial Indicators Cumulative Analysis Property Equity Analysis Equity vs. Debt Cumulative Wealth Analysis Gross Income Vs. Operating Expenses
IV. DEMOGRAPHIC ANALYSIS Sold Comps STDB Specialty Housing Profile STDB Specialty Multi-Family Express Pack
V. BROKERAGE DETAILS Broker Biographies Information about Brokerage Services
NOBLE CREST PROPERTY GROUP
PROPERTY OVERVIEW
www.ncpgtexas.com 682.233.0424
QUADRUPLEX - FAIRMOUNT HISTORIC DISTRICT 1501 W MORPHY STREET FORT WORTH, TX 76104
The information contained herein was obtained from sources believed reliable; however KW Commercial McClure Partners and Noble Crest Property Group make no guarantees, warranties or representations as to the completeness or accurateness thereof. The information submitted is subject to errors, omissions, changes of price or condition; prior to sale or lease, or withdraw without notice. Any projections, assumptions or estimates are for illustration purposes only. Recipients should conduct their own investigation.
www.ncpgtexas.com
PROPERTY OVERVIEW NARRATIVES
PROPERTY DESCRIPTION
This quadruplex is conveniently located just 2 blocks from the hospital and 1 block
from the elegant downtown restaurants on Magnolia Avenue. This is a solid
investment opportunity in an up and coming area. Recent updates in the last year
include a new roof and significant portions of the plumbing have been replaced in the
last 5 years. A coin based washer and dryer is located the central hallway between the
units for the tenants to share.
MARKET DESCRIPTION
Located on the near south side of Fort Worth, Texas and covering about one square
mile, the Fairmount Southside Historic District contains one of the nation’s richest
collections of turn of the century housing. Fairmount is comprised of about 20
subdivisions platted between 1883 and 1907.
Source: http://www.historicfairmount.com/
QUADRUPLEX - FAIRMOUNT HISTORIC DISTRICT 1501 W MORPHY STREET FORT WORTH, TX 76104
The information contained herein was obtained from sources believed reliable; however KW Commercial McClure Partners and Noble Crest Property Group make no guarantees, warranties or representations as to the completeness or accurateness thereof. The information submitted is subject to errors, omissions, changes of price or condition; prior to sale or lease, or withdraw without notice. Any projections, assumptions or estimates are for illustration purposes only. Recipients should conduct their own investigation.
www.ncpgtexas.com
PROPERTY OVERVIEW DETAILS AND SPECIFICS
QUADRUPLEX - FAIRMOUNT HISTORIC DISTRICT 1501 W MORPHY STREET FORT WORTH, TX 76104
Location Information
Parcel Number: Tarrant Appraisal District- 01835874
County: Tarrant County
Legal Description:
McAnulty & Nye Subdivision Blk E Lot 27 & 28 Part of the Fairmount
Historic District
Zoning: C - Medium Density Multifamily
Intersection: 7th Avenue
School District: Fort Worth Independent School District
Property Information
Property Frontage: 115’ Property Depth : 60’
Acres: 0.16 +/- Total Property SF: 6900 +/-
Topography: Flat Parcel Shape: Rectangular
Construction Details
Construction Status: Existing Year Built: 1926
Building Quality: Class C Year Last Renovated: 2010
Building SF: 4,560 Unit Configuration: Multi Tenant
No. of Units: 4 No. of Stories: 2
Parking Details
Parking Type: On Street and 2 Car Detached Garage
Mechanical Information
Electric: Yes Water: Yes
Sewer: Yes Water City Served: Yes
Heat Type: Electric Air Conditioning Type: Central
The information contained herein was obtained from sources believed reliable; however KW Commercial McClure Partners and Noble Crest Property Group make no guarantees, warranties or representations as to the completeness or accurateness thereof. The information submitted is subject to errors, omissions, changes of price or condition; prior to sale or lease, or withdraw without notice. Any projections, assumptions or estimates are for illustration purposes only. Recipients should conduct their own investigation.
www.ncpgtexas.com
PROPERTY OVERVIEW PROPERTY PHOTOS
7TH AVENUE NORTH AND SOUTH VIEWS
QUADRUPLEX - FAIRMOUNT HISTORIC DISTRICT 1501 W MORPHY STREET FORT WORTH, TX 76104
The information contained herein was obtained from sources believed reliable; however KW Commercial McClure Partners and Noble Crest Property Group make no guarantees, warranties or representations as to the completeness or accurateness thereof. The information submitted is subject to errors, omissions, changes of price or condition; prior to sale or lease, or withdraw without notice. Any projections, assumptions or estimates are for illustration purposes only. Recipients should conduct their own investigation.
www.ncpgtexas.com
PROPERTY OVERVIEW PROPERTY PHOTOS
ALL UNITS HAVE 3 BEDROOMS WITH CEILING FANS
QUADRUPLEX - FAIRMOUNT HISTORIC DISTRICT 1501 W MORPHY STREET FORT WORTH, TX 76104
All Units have 3 Bedrooms with Ceiling Fans
Full Bath with Shower/Tub in Each
Unit
Entry Hall with Coat Closet
Full Kitchen with Stove and
Refrigerator
The information contained herein was obtained from sources believed reliable; however KW Commercial McClure Partners and Noble Crest Property Group make no guarantees, warranties or representations as to the completeness or accurateness thereof. The information submitted is subject to errors, omissions, changes of price or condition; prior to sale or lease, or withdraw without notice. Any projections, assumptions or estimates are for illustration purposes only. Recipients should conduct their own investigation.
www.ncpgtexas.com
PROPERTY OVERVIEW DETAILS AND SPECIFICS
QUADRUPLEX - FAIRMOUNT HISTORIC DISTRICT 1501 W MORPHY STREET FORT WORTH, TX 76104
The Fairmount/Southside Historic District is a remarkably intact neighborhood, representative of the early 20th century streetcar suburb, with a diversity of house forms and related institutional and commercial properties. Fairmount/Southside is situated on the near south side of Fort Worth, approximately two miles south of downtown. Boundaries of the area form a rectangle of about 375 acres (or 0.6 square mile) Fairmount was developed as a middle class residential area between 1890 and 1938, with the largest concentration of houses dating from 1905 to 1920. The predominate building is the single-family residence, with wood frame bungalows being the most common configuration. Variations on the Four Square form are scattered throughout the District. Fairmount/Southside’s grandest homes are concentrated in the eastern sections of the Districts and reflect a variety of stylistic influences. In the survey made as part of the nomination for National Register of Historic Places status, there were found to be 1,016 Contributing buildings, one Contributing structure and 425 Noncontributing buildings. Growth in the district generally reflected proximity to downtown and transportation routes. The streets were established on a grid with elongated blocks running north and south bisected by alleyways. Streetcar lines ran along Magnolia, Fairmount, College and Hemphill streets, defining growth patterns and areas of commercial development. Although Fairmount/Southside contains parts of 22 subdivisions, the core area has a consistent, unified feeling. While variations in scale do appear, the dominant impression of Fairmount/Southside is of block upon block of small houses, closely spaced, with small front yards, set back from the street. Although alleyways were platted, few are open or in use. Shade trees occur in places throughout the District, but here is nor regular pattern of landscaping. In places, the collision of subdivisions creates a jog in the street or a shift in the street axes. The earliest homes built in Fairmount/Southside reflect Victorian influences dominant in residential architecture throughout the turn of the century. Examples of Victorian architecture occur in the northern section between Henderson Street and Sixth Ave. The move away from Victorian and Queen Anne toward symmetry in the early 20th century is illustrated by the popularity of the Four Square in Fairmount/Southside. This form allowed for more substantial homes than the modest bungalow, Four Squares generally being two or two and one-half stories. While Fairmount/Southside contains many large homes, it was predominantly a middle-class neighborhood where the modest bungalow was the most common house form. Some of the early Fairmount/Southside houses, particularly in the northern sector of the District, show the evolution of a bungalow form merged with vestiges of a Queen Anne cottage. After this transitional style came the Arts & Crafts style bungalow with the exposed rafter tails or eave brackets that are this style’s main identifying elements. With the great growth of Fairmount/Southside after 1905, apartment buildings became a significant element in the District. Two of the earliest apartment houses, both of three stories, are reminiscent of the ‘triple deckers' common in New England and the Midwest and unusual in this region. The Tudor Revival became a very popular style for apartment construction in Texas during the 1920s. The District includes many early 20th century commercial buildings. Commercial buildings are clustered along Magnolia Avenue and Hemphill Street. Pockets survive along former streetcar routes, notably college Avenue and Jefferson Street, at the corner of Fairmount and West Allen Avenues, and on the north and south ends of College Avenue. Most are simple, one or two story Commercial style brick structures with storefront windows. Fairmount/Southside contains quite varied examples of church and school architecture. The styles include Spanish Mission, Jacobean, Classical influenced, and Tudor Gothic. Modern intrusions in the Fairmount/Southside Historic District consist primarily of one-story brick duplexes, which are scattered throughout the District. Most of the buildings determined to be Non-contributing are contemporaneous with the historic period of significance in the District but have suffered inappropriate alterations. The most common alterations are the use of inappropriate siding materials, the replacement of original windows with non-wood alternatives, the replacement of porch columns with fabricated metal members and the enclosures of porches.
Excerpt from Fairmount District Guide To Rehabilitation, Restoration and New Construction (including Demolition and Removal)
A BRIEF HISTORY: FAIRMOUNT/SOUTHSIDE HISTORIC DISTRICT
The information contained herein was obtained from sources believed reliable; however KW Commercial McClure Partners and Noble Crest Property Group make no guarantees, warranties or representations as to the completeness or accurateness thereof. The information submitted is subject to errors, omissions, changes of price or condition; prior to sale or lease, or withdraw without notice. Any projections, assumptions or estimates are for illustration purposes only. Recipients should conduct their own investigation.
www.ncpgtexas.com
PROPERTY OVERVIEW DETAILS AND SPECIFICS
QUADRUPLEX - FAIRMOUNT HISTORIC DISTRICT 1501 W MORPHY STREET FORT WORTH, TX 76104
A BRIEF HISTORY: FAIRMOUNT/SOUTHSIDE HISTORIC DISTRICT
Fairmount Revitalization and Redevelopment Action Plan The Fairmount Revitalization and Redevelopment Action Plan is an implementation oriented, next step to the Mid South Revitalization and Redevelopment Plan. The Plan, published by the City of Fort Worth in April, 1987, concerns efforts to improve property, develop infill housing, increase code enforcement, encourage home ownership and provide housing assistance to the elderly. Areas of conversation, rehabilitation and stabilization were set out. The plan highlighted two primary land use issues: incompatibility of usage and loss of architectural and historical resources. The creation of the Fairmount/Southside Historic and Cultural Subdistrict was in response to these issues.
Partial Tax Exemption for Certain Historically Significant Sites Section 11.24of the Texas Property Tax Code provides that the governing body of taxing units may exempt from taxation all or part of the assessed value of certain historically significant sites in order to encourage the preservation of such sites. In September 1988, the City Council approved Ordinance 10172 to allow a partial tax exemption program for historical sites. The ordinance states: “Any Property which is designated as an historically significant site…and which is substantially renovated and/or restored…shall have an assessed value for ad valorem tax purposes equal to the assessed value of the property for the tax year immediately prior to the renovation, for a period of ten (10) years following completion of the renovation. Only the historic structure and the land reasonably necessary for access to and use of the structure shall be subject to the tax valuation freeze. The valuation freeze shall begin on the first day of the tax year following completion of the renovation project. To be eligible…the property must:
1. Be zoned “HC” Historic and Cultural Subdistrict; and 2. Be in need of renovation and/or restoration which equals or exceeds thirty percent (30%) of the assessed value of
the structure prior to renovation (The 30% requirement is determined by the value of permits issued by the City’s Building Official.); and
3. Not have been granted a previous tax exemption under this ordinance.”
This program is not retroactive and only work completed after the application is made will count toward the 30%. Complete information concerning the application process is available from the City of Fort Worth Planning and Growth Management.
The complete Guide can be viewed at: http://www.historicfairmount.com/pdfs/designguidelines.pdf
Additional Information including Neighborhood Activities, Community Garden, and Photos can be viewed on the
Fairmount Historic District Community Website: http://www.historicfairmount.com/
NOBLE CREST PROPERTY GROUP
PROPERTY MAPS
www.ncpgtexas.com 682.233.0424
QUADRUPLEX - FAIRMOUNT HISTORIC DISTRICT 1501 W MORPHY STREET FORT WORTH, TX 76104
The information contained herein was obtained from sources believed reliable; however KW Commercial McClure Partners and Noble Crest Property Group make no guarantees, warranties or representations as to the completeness or accurateness thereof. The information submitted is subject to errors, omissions, changes of price or condition; prior to sale or lease, or withdraw without notice. Any projections, assumptions or estimates are for illustration purposes only. Recipients should conduct their own investigation.
www.ncpgtexas.com
PROPERTY MAPS LOCATION MAPS
QUADRUPLEX - FAIRMOUNT HISTORIC DISTRICT 1501 W MORPHY STREET FORT WORTH, TX 76104
The information contained herein was obtained from sources believed reliable; however KW Commercial McClure Partners and Noble Crest Property Group make no guarantees, warranties or representations as to the completeness or accurateness thereof. The information submitted is subject to errors, omissions, changes of price or condition; prior to sale or lease, or withdraw without notice. Any projections, assumptions or estimates are for illustration purposes only. Recipients should conduct their own investigation.
www.ncpgtexas.com
PROPERTY MAPS AERIAL MAPS
QUADRUPLEX - FAIRMOUNT HISTORIC DISTRICT 1501 W MORPHY STREET FORT WORTH, TX 76104
NOBLE CREST PROPERTY GROUP
BROKERAGE DETAILS
www.ncpgtexas.com 682.233.0424
QUADRUPLEX - FAIRMOUNT HISTORIC DISTRICT 1501 W MORPHY STREET FORT WORTH, TX 76104
FINANCIAL DATA
Real Estate Investment Details
ANALYSIS
Analysis Date: April 2011
PROPERTY
Property: Quadruplex - Fairmount Historic District
Property Address: 1501 W MorphyFort Worth, TX 76104
Year Built: 1926
FINANCIAL INFORMATION
Down Payment: $53,000
LT Capital Gain: 15.00%
Federal Tax Rate: 33.0%
Discount Rate: 8.00%
PURCHASE INFORMATION
Property Type: Commercial
Purchase Price: $265,000
Tenants: 6
Total Rentable Sq. Ft.: 4,560
Resale Valuation 9.0% (capitalization of noi)
Resale Expenses: 6.0%
LOANS
Debt Term Rate Payment LO Costs
Fixed $212,000 20 yrs 6.0% $1,519
INCOME & EXPENSES
Gross Operating Income: $28,080
Monthly GOI: $2,340
Total Annual Expenses: ($9,730)
Monthly Expenses: ($811)
CONTACT INFORMATION
Kenneth Wimberly, CCIM
682.233.0424
0503180
Branson Blackburn
C: 325.864.9775
The calculations and data presented are deemed to be accurate, but not guaranteed. They are intended for the purpose of illustrative projectionsand analysis.
Executive SummaryQuadruplex - Fairmount Historic District
1501 W MorphyFort Worth, TX 76104
Kenneth Wimberly, CCIM682.233.0424
ACQUISITION COSTS
Purchase Price, Points and Closing Costs $265,000
Investment - Cash $53,000
First Loan $212,000
INVESTMENT INFORMATION
Purchase Price $265,000
Price per Tenant $44,167
Price per Sq. Ft. $58.11
INCOME, EXPENSES & CASH FLOW
Gross Scheduled Income $31,200
Total Vacancy and Credits ($3,120)
Operating Expenses ($9,730)
Net Operating Income $18,350
Debt Service ($18,226)
Cash Flow Before Taxes $124
Total Interest (Debt Service) ($12,566)
Depreciation and Amortization ($6,192)
Taxable Income (Loss) ($408)
Tax Savings (Costs) $135
Cash Flow After Taxes $259
FINANCIAL INDICATORS
Cash on Cash Return Before Taxes 0.23%
Optimal Internal Rate of Return (yr 17) 14.46%
Debt Coverage Ratio 1.01
Capitalization Rate 6.92%
Gross Income / Square Feet $6.84
Gross Expenses / Square Feet ($2.13)
Operating Expense Ratio 34.65%
Cash Flow AnalysisQuadruplex - Fairmount Historic District
1501 W MorphyFort Worth, TX 76104
Kenneth Wimberly, CCIM682.233.0424
Description Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Year 10
GROSS SCHEDULED INCOME $31,200 $32,760 $34,398 $36,118 $37,924 $39,820 $41,811 $43,902 $46,097 $48,401
Turnover Vacancy ($3,120) ($3,276) ($3,440) ($3,612) ($3,792) ($3,982) ($4,181) ($4,390) ($4,610) ($4,840)
Total Operating Expenses ($9,730) ($10,217) ($10,727) ($11,264) ($11,827) ($12,418) ($13,039) ($13,691) ($14,376) ($15,094)
NET OPERATING INCOME $18,350 $19,268 $20,231 $21,242 $22,305 $23,420 $24,591 $25,820 $27,111 $28,467
Loan Payment ($18,226) ($18,226) ($18,226) ($18,226) ($18,226) ($18,226) ($18,226) ($18,226) ($18,226) ($18,226)
NET CASH FLOW (b/t) $124 $1,041 $2,005 $3,016 $4,079 $5,194 $6,365 $7,594 $8,885 $10,241
Cash On Cash Return b/t 0.23% 1.97% 3.78% 5.69% 7.70% 9.80% 12.01% 14.33% 16.76% 19.32%
NET OPERATING INCOME $18,350 $19,268 $20,231 $21,242 $22,305 $23,420 $24,591 $25,820 $27,111 $28,467
Depreciation ($6,192) ($6,461) ($6,461) ($6,461) ($6,461) ($6,461) ($6,461) ($6,461) ($6,461) ($6,461)
Loan Interest ($12,566) ($12,217) ($11,846) ($11,453) ($11,035) ($10,592) ($10,121) ($9,621) ($9,090) ($8,527)
TAXABLE INCOME (LOSS) ($408) $589 $1,923 $3,328 $4,808 $6,367 $8,009 $9,738 $11,560 $13,479
Income Taxes $135 ($194) ($635) ($1,098) ($1,587) ($2,101) ($2,643) ($3,214) ($3,815) ($4,448)
CASH FLOW (a/t) $259 $847 $1,370 $1,918 $2,492 $3,093 $3,722 $4,381 $5,070 $5,793
Cash On Cash Return a/t 0.49% 1.60% 2.59% 3.62% 4.70% 5.84% 7.02% 8.27% 9.57% 10.93%
Footnotes: b/t = before taxes;a/t = after taxes
Cash Flow AnalysisQuadruplex - Fairmount Historic District
1501 W MorphyFort Worth, TX 76104
Kenneth Wimberly, CCIM682.233.0424
Description Year 11 Year 12 Year 13 Year 14 Year 15 Year 16 Year 17 Year 18 Year 19 Year 20
GROSS SCHEDULED INCOME $50,822 $53,363 $56,031 $58,832 $61,774 $64,863 $68,106 $71,511 $75,087 $78,841
Turnover Vacancy ($5,082) ($5,336) ($5,603) ($5,883) ($6,177) ($6,486) ($6,811) ($7,151) ($7,509) ($7,884)
Total Operating Expenses ($15,849) ($16,642) ($17,474) ($18,347) ($19,265) ($20,228) ($21,239) ($22,301) ($23,416) ($24,587)
NET OPERATING INCOME $29,890 $31,385 $32,954 $34,602 $36,332 $38,148 $40,056 $42,059 $44,161 $46,370
Loan Payment ($18,226) ($18,226) ($18,226) ($18,226) ($18,226) ($18,226) ($18,226) ($18,226) ($18,226) ($18,226)
NET CASH FLOW (b/t) $11,664 $13,159 $14,728 $16,376 $18,106 $19,922 $21,830 $23,833 $25,935 $28,144
Cash On Cash Return b/t 22.01% 24.83% 27.79% 30.90% 34.16% 37.59% 41.19% 44.97% 48.93% 53.10%
NET OPERATING INCOME $29,890 $31,385 $32,954 $34,602 $36,332 $38,148 $40,056 $42,059 $44,161 $46,370
Depreciation ($6,461) ($6,461) ($6,461) ($6,461) ($6,461) ($6,461) ($6,461) ($6,461) ($6,461) ($6,192)
Loan Interest ($7,928) ($7,293) ($6,619) ($5,903) ($5,143) ($4,336) ($3,479) ($2,570) ($1,604) ($579)
TAXABLE INCOME (LOSS) $15,501 $17,630 $19,874 $22,237 $24,728 $27,351 $30,115 $33,028 $36,096 $39,599
Income Taxes ($5,115) ($5,818) ($6,558) ($7,338) ($8,160) ($9,026) ($9,938) ($10,899) ($11,912) ($13,068)
CASH FLOW (a/t) $6,549 $7,341 $8,170 $9,037 $9,946 $10,896 $11,892 $12,933 $14,024 $15,076
Cash On Cash Return a/t 12.36% 13.85% 15.41% 17.05% 18.77% 20.56% 22.44% 24.40% 26.46% 28.44%
Footnotes: b/t = before taxes;a/t = after taxes
Cash In Cash OutQuadruplex - Fairmount Historic District
1501 W MorphyFort Worth, TX 76104
Kenneth Wimberly, CCIM682.233.0424
Description Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Year 10
Rental Income $31,200 $32,760 $34,398 $36,118 $37,924 $39,820 $41,811 $43,902 $46,097 $48,401
GROSS SCHEDULED INCOME $31,200 $32,760 $34,398 $36,118 $37,924 $39,820 $41,811 $43,902 $46,097 $48,401
Turnover Vacancy ($3,120) ($3,276) ($3,440) ($3,612) ($3,792) ($3,982) ($4,181) ($4,390) ($4,610) ($4,840)
GROSS OPERATING INCOME $28,080 $29,484 $30,958 $32,506 $34,131 $35,838 $37,630 $39,511 $41,487 $43,561
Expenses
Speed Analysis Expenses ($9,730) ($10,217) ($10,727) ($11,264) ($11,827) ($12,418) ($13,039) ($13,691) ($14,376) ($15,094)
TOTAL OPERATING EXPENSES ($9,730) ($10,217) ($10,727) ($11,264) ($11,827) ($12,418) ($13,039) ($13,691) ($14,376) ($15,094)
NET OPERATING INCOME $18,350 $19,268 $20,231 $21,242 $22,305 $23,420 $24,591 $25,820 $27,111 $28,467
Debt Service
Loan Interest ($12,566) ($12,217) ($11,846) ($11,453) ($11,035) ($10,592) ($10,121) ($9,621) ($9,090) ($8,527)
Principal Payments ($5,660) ($6,009) ($6,380) ($6,773) ($7,191) ($7,634) ($8,105) ($8,605) ($9,136) ($9,699)
NET CASH FLOW (b/t) $124 $1,041 $2,005 $3,016 $4,079 $5,194 $6,365 $7,594 $8,885 $10,241
Cash Flow IRR N/A N/A N/A -17.27% N/A 1.00% 6.28% 10.13% 12.99% 15.16%
Projected Property Value $203,889 $214,083 $224,788 $236,027 $247,828 $260,220 $273,231 $286,892 $301,237 $316,299
Resale Expenses ($12,233) ($12,845) ($13,487) ($14,162) ($14,870) ($15,613) ($16,394) ($17,214) ($18,074) ($18,978)
Footnotes: Cash Flow IRR based upon net cash flow and principle payments
Cash In Cash OutQuadruplex - Fairmount Historic District
1501 W MorphyFort Worth, TX 76104
Kenneth Wimberly, CCIM682.233.0424
Description Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Year 10
Proceeds b/f Debt Payoff $191,656 $201,238 $211,300 $221,865 $232,959 $244,606 $256,837 $269,679 $283,163 $297,321
Loan Principal Balance ($206,340) ($200,331) ($193,951) ($187,178) ($179,987) ($172,353) ($164,247) ($155,642) ($146,506) ($136,807)
Net Proceeds From Sale ($14,684) $907 $17,349 $34,687 $52,971 $72,254 $92,589 $114,037 $136,656 $160,514
Net Resale IRR N/A N/A N/A -6.45% 3.73% 9.18% 12.32% 14.21% 15.38% 16.13%
Footnotes: Cash Flow IRR based upon net cash flow and principle payments
Cash In Cash OutQuadruplex - Fairmount Historic District
1501 W MorphyFort Worth, TX 76104
Kenneth Wimberly, CCIM682.233.0424
Description Year 11 Year 12 Year 13 Year 14 Year 15 Year 16 Year 17 Year 18 Year 19 Year 20
Rental Income $50,822 $53,363 $56,031 $58,832 $61,774 $64,863 $68,106 $71,511 $75,087 $78,841
GROSS SCHEDULED INCOME $50,822 $53,363 $56,031 $58,832 $61,774 $64,863 $68,106 $71,511 $75,087 $78,841
Turnover Vacancy ($5,082) ($5,336) ($5,603) ($5,883) ($6,177) ($6,486) ($6,811) ($7,151) ($7,509) ($7,884)
GROSS OPERATING INCOME $45,739 $48,026 $50,428 $52,949 $55,596 $58,376 $61,295 $64,360 $67,578 $70,957
Expenses
Speed Analysis Expenses ($15,849) ($16,642) ($17,474) ($18,347) ($19,265) ($20,228) ($21,239) ($22,301) ($23,416) ($24,587)
TOTAL OPERATING EXPENSES ($15,849) ($16,642) ($17,474) ($18,347) ($19,265) ($20,228) ($21,239) ($22,301) ($23,416) ($24,587)
NET OPERATING INCOME $29,890 $31,385 $32,954 $34,602 $36,332 $38,148 $40,056 $42,059 $44,161 $46,370
Debt Service
Loan Interest ($7,928) ($7,293) ($6,619) ($5,903) ($5,143) ($4,336) ($3,479) ($2,570) ($1,604) ($579)
Principal Payments ($10,298) ($10,933) ($11,607) ($12,323) ($13,083) ($13,890) ($14,747) ($15,656) ($16,622) ($17,647)
NET CASH FLOW (b/t) $11,664 $13,159 $14,728 $16,376 $18,106 $19,922 $21,830 $23,833 $25,935 $28,144
Cash Flow IRR 16.83% 18.14% 19.17% 20.00% 20.66% 21.20% 21.63% 21.99% 22.29% 22.54%
Projected Property Value $332,114 $348,719 $366,155 $384,463 $403,686 $423,870 $445,064 $467,317 $490,683 $515,217
Resale Expenses ($19,927) ($20,923) ($21,969) ($23,068) ($24,221) ($25,432) ($26,704) ($28,039) ($29,441) ($30,913)
Footnotes: Cash Flow IRR based upon net cash flow and principle payments
Cash In Cash OutQuadruplex - Fairmount Historic District
1501 W MorphyFort Worth, TX 76104
Kenneth Wimberly, CCIM682.233.0424
Description Year 11 Year 12 Year 13 Year 14 Year 15 Year 16 Year 17 Year 18 Year 19 Year 20
Proceeds b/f Debt Payoff $312,187 $327,796 $344,186 $361,395 $379,465 $398,438 $418,360 $439,278 $461,242 $484,304
Loan Principal Balance ($126,509) ($115,576) ($103,969) ($91,646) ($78,563) ($64,672) ($49,926) ($34,269) ($17,647) $0
Net Proceeds From Sale $185,678 $212,220 $240,217 $269,749 $300,902 $333,766 $368,434 $405,009 $443,595 $484,304
Net Resale IRR 16.60% 16.90% 17.08% 17.18% 17.23% 17.24% 17.23% 17.20% 17.16% 17.11%
Footnotes: Cash Flow IRR based upon net cash flow and principle payments
Financial IndicatorsQuadruplex - Fairmount Historic District
1501 W MorphyFort Worth, TX 76104
Kenneth Wimberly, CCIM682.233.0424
Description Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Year 10
Gross Rent Multiplier 6.53 6.53 6.53 6.53 6.53 6.53 6.53 6.53 6.53 6.53
Capitalization Rate 6.92% 7.27% 7.63% 8.02% 8.42% 8.84% 9.28% 9.74% 10.23% 10.74%
Cash On Cash Return b/t 0.23% 1.97% 3.78% 5.69% 7.70% 9.80% 12.01% 14.33% 16.76% 19.32%
Cash On Cash Return a/t 0.49% 1.60% 2.59% 3.62% 4.70% 5.84% 7.02% 8.27% 9.57% 10.93%
Debt Coverage Ratio 1.01 1.06 1.11 1.17 1.22 1.28 1.35 1.42 1.49 1.56
Gross Income per Sq. Ft. $6.84 $7.18 $7.54 $7.92 $8.32 $8.73 $9.17 $9.63 $10.11 $10.61
Expenses per Sq. Ft. ($2.13) ($2.24) ($2.35) ($2.47) ($2.59) ($2.72) ($2.86) ($3.00) ($3.15) ($3.31)
Net Income Multiplier 11.11 11.11 11.11 11.11 11.11 11.11 11.11 11.11 11.11 11.11
Operating Expense Ratio 34.65% 34.65% 34.65% 34.65% 34.65% 34.65% 34.65% 34.65% 34.65% 34.65%
Loan To Value Ratio 101.20% 93.58% 86.28% 79.30% 72.63% 66.23% 60.11% 54.25% 48.63% 43.25%
Footnotes: b/t = before taxes; a/t = after taxes
Financial IndicatorsQuadruplex - Fairmount Historic District
1501 W MorphyFort Worth, TX 76104
Kenneth Wimberly, CCIM682.233.0424
Description Year 11 Year 12 Year 13 Year 14 Year 15 Year 16 Year 17 Year 18 Year 19 Year 20
Gross Rent Multiplier 6.53 6.53 6.53 6.53 6.53 6.53 6.53 6.53 6.53 6.53
Capitalization Rate 11.28% 11.84% 12.44% 13.06% 13.71% 14.40% 15.12% 15.87% 16.66% 17.50%
Cash On Cash Return b/t 22.01% 24.83% 27.79% 30.90% 34.16% 37.59% 41.19% 44.97% 48.93% 53.10%
Cash On Cash Return a/t 12.36% 13.85% 15.41% 17.05% 18.77% 20.56% 22.44% 24.40% 26.46% 28.44%
Debt Coverage Ratio 1.64 1.72 1.81 1.90 1.99 2.09 2.20 2.31 2.42 2.54
Gross Income per Sq. Ft. $11.15 $11.70 $12.29 $12.90 $13.55 $14.22 $14.94 $15.68 $16.47 $17.29
Expenses per Sq. Ft. ($3.48) ($3.65) ($3.83) ($4.02) ($4.22) ($4.44) ($4.66) ($4.89) ($5.14) ($5.39)
Net Income Multiplier 11.11 11.11 11.11 11.11 11.11 11.11 11.11 11.11 11.11 11.11
Operating Expense Ratio 34.65% 34.65% 34.65% 34.65% 34.65% 34.65% 34.65% 34.65% 34.65% 34.65%
Loan To Value Ratio 38.09% 33.14% 28.39% 23.84% 19.46% 15.26% 11.22% 7.33% 3.60% 0.00%
Footnotes: b/t = before taxes; a/t = after taxes
Cumulative AnalysisQuadruplex - Fairmount Historic District
1501 W MorphyFort Worth, TX 76104
Kenneth Wimberly, CCIM682.233.0424
Description Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Year 10
Equity (appreciation) ($61,111) ($50,917) ($40,213) ($28,973) ($17,172) ($4,780) $8,231 $21,892 $36,237 $51,299
Equity (loan reduction) $5,660 $11,669 $18,049 $24,822 $32,013 $39,647 $47,753 $56,358 $65,494 $75,193
CASH FLOW (a/t) $259 $1,106 $2,476 $4,394 $6,886 $9,978 $13,700 $18,081 $23,151 $28,944
Totals - To Date ($55,193) ($38,142) ($19,688) $243 $21,727 $44,845 $69,683 $96,331 $124,882 $155,436
Invested Capital ($53,000) ($53,000) ($53,000) ($53,000) ($53,000) ($53,000) ($53,000) ($53,000) ($53,000) ($53,000)
ROIC - To Date -104.14% -71.97% -37.15% 0.46% 40.99% 84.61% 131.48% 181.76% 235.63% 293.28%
Footnotes: a/t = after taxes; ROIC = Return On Invested Capital
Cumulative AnalysisQuadruplex - Fairmount Historic District
1501 W MorphyFort Worth, TX 76104
Kenneth Wimberly, CCIM682.233.0424
Description Year 11 Year 12 Year 13 Year 14 Year 15 Year 16 Year 17 Year 18 Year 19 Year 20
Equity (appreciation) $67,114 $83,719 $101,155 $119,463 $138,686 $158,870 $180,064 $202,317 $225,683 $250,217
Equity (loan reduction) $85,491 $96,424 $108,031 $120,354 $133,437 $147,328 $162,074 $177,731 $194,353 $212,000
CASH FLOW (a/t) $35,493 $42,834 $51,003 $60,041 $69,986 $80,883 $92,774 $105,708 $119,732 $134,807
Totals - To Date $188,098 $222,977 $260,190 $299,858 $342,110 $387,081 $434,913 $485,756 $539,767 $597,024
Invested Capital ($53,000) ($53,000) ($53,000) ($53,000) ($53,000) ($53,000) ($53,000) ($53,000) ($53,000) ($53,000)
ROIC - To Date 354.90% 420.71% 490.92% 565.77% 645.49% 730.34% 820.59% 916.52% 1018.43% 1126.46%
Footnotes: a/t = after taxes; ROIC = Return On Invested Capital
Property Equity AnalysisQuadruplex - Fairmount Historic District
1501 W MorphyFort Worth, TX 76104
Kenneth Wimberly, CCIM682.233.0424
Year 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20
$52,000
$104,000
$156,000
$208,000
$260,000
$312,000
$364,000
$416,000
$468,000
$520,000
Legend
Initial Equity Equity (loan reduction) Equity (appreciation)
Equity vs. DebtQuadruplex - Fairmount Historic District
1501 W MorphyFort Worth, TX 76104
Kenneth Wimberly, CCIM682.233.0424
Year 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20
$52,000
$104,000
$156,000
$208,000
$260,000
$312,000
$364,000
$416,000
$468,000
$520,000
Legend
Equity Loan Principal Balance
Cumulative Wealth AnalysisQuadruplex - Fairmount Historic District
1501 W MorphyFort Worth, TX 76104
Kenneth Wimberly, CCIM682.233.0424
Year 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20
$60,000
$120,000
$180,000
$240,000
$300,000
$360,000
$420,000
$480,000
$540,000
$600,000
Legend
Equity (loan reduction) Equity (appreciation) CASH FLOW (a/t)
Gross Income Vs. Operating ExpensesQuadruplex - Fairmount Historic District
1501 W MorphyFort Worth, TX 76104
Kenneth Wimberly, CCIM682.233.0424
Year 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20
$7,900
$15,800
$23,700
$31,600
$39,500
$47,400
$55,300
$63,200
$71,100
$79,000
Legend
GROSS SCHEDULED INCOME Total Operating Expenses
NOBLE CREST PROPERTY GROUP
DEMOGRAPHIC ANALYSIS
www.ncpgtexas.com 682.233.0424
QUADRUPLEX - FAIRMOUNT HISTORIC DISTRICT 1501 W MORPHY STREET FORT WORTH, TX 76104
RecentSales(TM)Keanan Halla · (817) 291-7842 · [email protected]
KW Commercial
Page 1 of 1 Created: 4/19/2011LoopNet, Inc. © Copyright 1995 - 2011This information comes from users and sources believed to be reliable, but is not guaranteed.
2735 Purington Ave - Fort Worth, TX
Property Type: MultifamilyDuplex/Triplex/Fourplex
No. Units: 4Building Size: 4,466 SFYear Built: 1931
Sale Date: 5/8/2006Sale Price: $159,600.00Price/Unit: $39,900.00
Buyer: IKORO, RAYMOND USeller: DAILEY KYLELoopNet ID: 973032
Southside Fort Worth Opportunity! - 3000 S. Jennings Ave, Fort Worth, TX
Property Type: MultifamilyDuplex/Triplex/Fourplex
No. Units: 2Building Size: 4,128 SFYear Built: 1912
Sale Date: 9/22/2006Sale Price: $90,000.00Price/Unit: $45,000.00
LoopNet ID: 1089335
3932 Bunting Ave - Fort Worth, TX
Property Type: MultifamilyDuplex/Triplex/Fourplex
No. Units: 2Building Size: 5,797 SFYear Built: 2007
Sale Date: 7/19/2006Sale Price: $155,000.00Price/Unit: $77,500.00
Buyer: 21ST CENTURY CUSTOM HOMES INCSeller: WILLIAMS BRIAN CLoopNet ID: 2110949
2216 6Th Ave - Fort Worth, TX
Property Type: MultifamilyDuplex/Triplex/Fourplex
No. Units: 2Building Size: 4,384 SFYear Built: 1915
Sale Date: 2/15/2007Sale Price: $136,990.00Price/Unit: $68,495.00
Buyer: SPARLIN, A DSeller: JOE GEORGE WLoopNet ID: 1306645
Specialty Housing ProfilePrepared by Kenneth WimberlyQuadplex - W Morphy St
©2010 Esri 4/13/2011 Page 1 of 4
Quadplex - Morphy St. Latitude: 32.7292441501 W Morphy St, Fort Worth, TX 76104-4251, 1501 W Morphy St Longitude: -97.342232Ring: 1, 3, 5 Miles
1 mile radius 3 miles radius 5 miles radius
Population Density 2000 Population Density 12,461.0 93,256.0 256,651.0 2010 Population Density 12,580.0 98,805.0 269,096.0
Household Density 2000 Household Density 4,148.0 32,950.0 88,691.0 2010 Household Density 4,162.0 34,595.0 92,310.0
Per Capita Income 1990 Per Capita Income $12,177 $12,123 $12,489 2000 Per Capita Income $16,765 $18,236 $17,331 1990 - 2000 Annual Rate 3.25% 4.17% 3.33% 2010 Per Capita Income $19,444 $19,936 $18,943 2000 - 2010 Annual Rate 1.62% 0.97% 0.97% 2015 Per Capita Income $22,005 $22,888 $21,614 2010 - 2015 Annual Rate 2.51% 2.8% 2.67%
1990 Housing Units 5,396 38,730 99,631 Owner Occupied Housing Units 34.9% 41.3% 48.2% Renter Occupied Housing Units 43.1% 43.1% 37.3% Vacant Housing Units 22.1% 15.5% 14.5%2000 Housing Units 4,669 36,658 96,873 Owner Occupied Housing Units 43.3% 45.7% 52.2% Renter Occupied Housing Units 45.9% 44.3% 39.4% Vacant Housing Units 10.8% 10.0% 8.4%2010 Housing Units 4,952 39,606 103,756 Owner Occupied Housing Units 36.7% 40.1% 46.1% Renter Occupied Housing Units 47.4% 47.2% 42.8% Vacant Housing Units 16.0% 12.7% 11.0%2015 Housing Units 5,110 41,484 108,167 Owner Occupied Housing Units 35.6% 38.7% 44.9% Renter Occupied Housing Units 47.5% 48.1% 43.6% Vacant Housing Units 16.9% 13.1% 11.5%
Median Household Income 1990 Median Household Income $20,589 $19,812 $22,433 2000 Median Household Income $33,614 $31,367 $32,268 1990 - 2000 Annual Rate 5.02% 4.70% 3.70% 2010 Median Household Income $42,115 $39,410 $40,780 2000 - 2010 Annual Rate 2.47% 2.5% 2.56% 2015 Median Household Income $47,048 $45,695 $47,246 2010 - 2015 Annual Rate 2.24% 3% 2.99%
Average Household Income 1990 Average Household Income $34,340 $31,393 $33,431 2000 Average Household Income $48,715 $48,677 $48,213 1990 - 2000 Annual Rate 3.56% 4.48% 3.73% 2010 Average Household Income $54,622 $53,309 $53,337 2000 - 2010 Annual Rate 1.24% 0.99% 1.1% 2015 Average Household Income $61,650 $61,064 $60,723 2010 - 2015 Annual Rate 2.45% 2.75% 2.63%
Data Note: Detail may not sum to totals due to rounding.
Source: U .S. Bureau of the Census, 2000 Census of Population and Housing. Esri forecasts for 2010 and 2015. Esri converted 1990 Census data into 2000 geography.
Specialty Housing ProfilePrepared by Kenneth WimberlyQuadplex - W Morphy St
©2010 Esri 4/13/2011 Page 2 of 4
Quadplex - Morphy St. Latitude: 32.7292441501 W Morphy St, Fort Worth, TX 76104-4251, 1501 W Morphy St Longitude: -97.342232Ring: 1, 3, 5 Miles
1 mile radius 3 miles radius 5 miles radius
1990 Households by IncomeTotal 4,238 32,744 85,404 <$10,000 23.3% 25.9% 21.3% $10,000 - $19,999 25.6% 24.5% 23.4% $20,000 - $29,999 14.5% 16.1% 17.9% $30,000 - $39,999 11.7% 11.5% 13.1% $40,000 - $49,999 6.9% 7.6% 8.2% $50,000 - $59,999 4.7% 3.8% 4.9% $60,000 - $74,999 5.4% 3.9% 4.4% $75,000 - $99,999 2.9% 2.7% 2.9% $100,000 - $124,999 1.2% 1.3% 1.4% $125,000 - $149,999 1.2% 0.8% 0.7% $150,000+ 2.8% 1.8% 1.8%
2000 Households by IncomeTotal 4,095 32,746 88,618 <$10,000 14.1% 16.5% 13.2% $10,000 - $19,999 19.5% 16.5% 16.5% $20,000 - $29,999 11.9% 14.9% 16.6% $30,000 - $39,999 12.7% 13.2% 14.2% $40,000 - $49,999 9.5% 9.2% 10.0% $50,000 - $59,999 4.3% 6.5% 7.2% $60,000 - $74,999 7.5% 7.6% 7.8% $75,000 - $99,999 8.6% 5.9% 6.0% $100,000 - $124,999 5.2% 3.5% 2.9% $125,000 - $149,999 2.6% 1.6% 1.5% $150,000 - $199,999 1.9% 1.8% 1.6% $200,000+ 2.2% 2.7% 2.4%
2010 Households by IncomeTotal 4,162 34,594 92,310 <$10,000 13.2% 15.1% 12.0% $10,000 - $19,999 14.9% 13.4% 12.9% $20,000 - $29,999 12.3% 12.4% 13.2% $30,000 - $39,999 6.6% 9.7% 10.8% $40,000 - $49,999 15.0% 12.4% 13.0% $50,000 - $59,999 4.6% 7.1% 7.9% $60,000 - $74,999 7.4% 9.3% 10.2% $75,000 - $99,999 13.1% 9.8% 10.2% $100,000 - $124,999 5.0% 3.6% 3.3% $125,000 - $149,999 3.1% 2.6% 2.2% $150,000 - $199,999 2.5% 1.9% 1.9% $200,000 - $249,999 1.2% 1.5% 1.3% $250,000 - $499,999 0.8% 1.1% 1.0% $500,000+ 0.1% 0.1% 0.1%
2015 Households by IncomeTotal 4,245 36,037 95,758 <$10,000 12.0% 13.5% 10.6% $10,000 - $19,999 12.7% 11.5% 11.0% $20,000 - $29,999 11.3% 11.2% 11.8% $30,000 - $39,999 6.6% 8.3% 9.0% $40,000 - $49,999 11.0% 9.7% 10.5% $50,000 - $59,999 6.5% 9.3% 10.3% $60,000 - $74,999 7.7% 9.8% 10.9% $75,000 - $99,999 15.1% 11.8% 12.6% $100,000 - $124,999 7.6% 5.7% 5.2% $125,000 - $149,999 3.6% 3.1% 2.6% $150,000 - $199,999 3.2% 2.5% 2.5% $200,000 - $249,999 1.5% 1.9% 1.6% $250,000 - $499,999 1.1% 1.6% 1.4% $500,000+ 0.1% 0.1% 0.1%
Data Note: Income represents annual income for the preceding year. Income f or 2010 and 2015 is expressed in current dollars, including an adjustment for inflation.
Source: U.S. Bureau of the Census, 2000 Census of Population and Housing. Esri forecasts for 2010 and 2015. Esri converted 1990 Census data into 2000 geography.
Specialty Housing ProfilePrepared by Kenneth WimberlyQuadplex - W Morphy St
©2010 Esri 4/13/2011 Page 3 of 4
Quadplex - Morphy St. Latitude: 32.7292441501 W Morphy St, Fort Worth, TX 76104-4251, 1501 W Morphy St Longitude: -97.342232Ring: 1, 3, 5 Miles
1 mile radius 3 miles radius 5 miles radius
Census 2000 Vacant Housing Units by Status Total 504 3,652 8,120 For Rent 43.8% 43.3% 46.3% For Sale Only 17.1% 10.3% 11.5% Rented/Sold, Unoccupied 22.6% 14.3% 13.5% Seasonal/Recreational/Occasional Use 3.0% 4.9% 4.0% For Migrant Workers 0.0% 0.0% 0.0% Other Vacant 13.5% 27.2% 24.6%
2010 Owner Occupied Housing Units by Value Total 1,814 15,883 47,876 < $25,000 7.9% 8.1% 7.3% $25,000 - $29,999 2.8% 3.4% 3.7% $30,000 - $34,999 2.5% 3.4% 3.5% $35,000 - $39,999 2.7% 4.0% 3.9% $40,000 - $49,999 5.0% 10.8% 12.6% $50,000 - $59,999 9.1% 12.9% 14.4% $60,000 - $69,999 6.7% 8.3% 9.0% $70,000 - $79,999 5.1% 6.3% 7.1% $80,000 - $89,999 3.6% 4.8% 6.0% $90,000 - $99,999 5.0% 3.8% 4.7% $100,000 - $124,999 13.1% 8.1% 8.7% $125,000 - $149,999 6.1% 4.7% 4.0% $150,000 - $174,999 4.6% 3.1% 2.4% $175,000 - $199,999 4.9% 2.9% 1.9% $200,000 - $249,999 7.9% 5.6% 3.4% $250,000 - $299,999 2.8% 2.2% 1.6% $300,000 - $399,999 3.6% 2.6% 2.1% $400,000 - $499,999 3.3% 1.9% 1.1% $500,000 - $749,999 2.9% 2.0% 1.4% $750,000 - $999,999 0.4% 0.7% 0.6% $1,000,000+ 0.1% 0.5% 0.7%Median Home Value $99,222 $68,757 $65,220
Census 2000 Specified Renter Occupied Housing Units by Contract Rent
Total 2,119 16,260 38,151 Paying Cash Rent 97.9% 96.7% 96.3% < $100 0.9% 3.5% 2.4% $100 - $149 2.2% 3.0% 2.2% $150 - $199 0.7% 2.9% 2.0% $200 - $249 5.4% 4.0% 3.6% $250 - $299 8.9% 6.3% 6.3% $300 - $349 16.0% 10.2% 9.8% $350 - $399 17.1% 13.0% 14.0% $400 - $449 10.9% 12.3% 13.7% $450 - $499 10.0% 9.2% 10.8% $500 - $549 6.9% 7.1% 8.1% $550 - $599 4.3% 4.3% 5.0% $600 - $649 3.9% 3.8% 4.1% $650 - $699 1.4% 2.6% 2.8% $700 - $749 1.2% 1.7% 1.6% $750 - $799 2.4% 2.2% 2.1% $800 - $899 1.6% 3.6% 2.7% $900 - $999 0.8% 1.7% 1.3% $1000 - $1249 2.4% 2.8% 1.9% $1250 - $1499 0.4% 1.0% 0.7% $1500 - $1999 0.5% 1.0% 0.9% $2000+ 0.0% 0.5% 0.3% No Cash Rent 2.1% 3.3% 3.7%Average Rent $434 $475 $467
Data Note: Specified Renter Occupied Housing Units exclude houses on 10+ acres. Avera ge contract rent excludes units paying no cash.
Source: U.S. Bureau of the Census, 2000 Census of Population and Housing. Esri forecasts for 2010.
Specialty Housing ProfilePrepared by Kenneth WimberlyQuadplex - W Morphy St
©2010 Esri 4/13/2011 Page 4 of 4
Quadplex - Morphy St. Latitude: 32.7292441501 W Morphy St, Fort Worth, TX 76104-4251, 1501 W Morphy St Longitude: -97.342232Ring: 1, 3, 5 Miles
1 mile radius 3 miles radius 5 miles radius
Census 2000 Housing Units by Units in Structure Total 4,618 36,658 96,685 1, Detached 57.8% 61.7% 68.3% 1, Attached 2.7% 4.3% 4.2% 2 11.4% 6.9% 5.0% 3 to 4 8.3% 5.4% 4.2% 5 to 9 7.8% 5.7% 4.8% 10 to 19 3.1% 3.5% 3.6% 20 to 49 3.4% 2.9% 2.8% 50 or More 5.0% 9.4% 6.2% Mobile Home 0.1% 0.1% 0.9% Other 0.4% 0.1% 0.1%
Census 2000 Households by Year Householder Moved InTotal 4,107 32,968 88,593 Moved in 1999 to March 2000 29.5% 28.0% 24.0% Moved in 1995 to 1998 32.7% 29.8% 28.9% Moved in 1990 to 1994 15.3% 13.4% 14.2% Moved in 1980 to 1989 8.6% 10.4% 11.1% Moved in 1970 to 1979 5.5% 6.6% 9.3% 1969 or Earlier 8.4% 11.9% 12.5%
Census 2000 Housing Units by Year Structure BuiltTotal 4,636 36,712 96,744 1999 to March 2000 0.7% 2.8% 1.9% 1995 to 1998 1.5% 3.9% 2.9% 1990 to 1994 1.2% 1.5% 1.4% 1980 to 1989 3.5% 6.7% 7.9% 1970 to 1979 4.4% 7.9% 10.1% 1969 or Earlier 88.6% 77.2% 75.8%
Census 2000 Workers 16+ by Means of Transportation to WorkTotal 5,336 38,407 102,228 Worked at Home 2.1% 2.7% 2.2% Drove Alone - Car, Truck, or Van 63.1% 69.7% 71.9% Carpooled - Car, Truck, or Van 25.8% 19.5% 20.3% Bus/Trolley Bus 3.9% 2.5% 1.7% Streetcar/Trolley Car 0.0% 0.0% 0.0% Subway/Elevated 0.0% 0.0% 0.0% Railroad 0.0% 0.0% 0.0% Ferryboat 0.0% 0.0% 0.0% Taxicab 0.1% 0.1% 0.1% Motorcycle 0.0% 0.0% 0.1% Bicycle 0.7% 0.2% 0.1% Walked 3.8% 4.1% 2.4% Other Means 1.2% 1.3% 1.3%
Census 2000 Households by Vehicles AvailableTotal 4,109 32,969 88,592 None 17.0% 14.2% 10.6% 1 37.5% 41.8% 41.8% 2 34.1% 32.9% 34.3% 3 9.2% 8.2% 9.8% 4 1.1% 2.0% 2.6% 5+ 1.2% 0.9% 1.0%Average Number of Vehicles Available 1.4 1.5 1.6
Source: U.S. Bureau of the Census, 2000 Census of Population and Housing.
Multifamily Express PackPrepared by Kenneth WimberlyQuadplex - W Morphy St
©2010 Esri 4/13/2011 Page 1 of 9
Quadplex - Morphy St. Latitude: 32.7292441501 W Morphy St, Fort Worth, TX 76104-4251, 1501 W Morphy St Longitude: -97.342232Ring: 1, 3, 5 Miles
1 mile radius 3 miles radius 5 miles radius
2000 - 2010 Population Annual Rate 0.1% 0.63% 0.51%2010 - 2015 Population Annual Rate 0.31% 0.71% 0.67%
Total Population
Area 1
1990 2000 2010 20150
100020003000400050006000700080009000
10000110001200013000 12778125801246112545
Total Population
Area 2
1990 2000 2010 20150
10000
20000
30000
40000
50000
60000
70000
80000
90000
100000
110000 10237398805
9325688969
Total Population
Area 3
1990 2000 2010 20150
50000
100000
150000
200000
250000
300000 278209269096256651
235423
Source: U.S. Bureau of the Census, 2000 Census of Population and Housing. Esri converted 1990 Census data into 2000 geography. Esri forecasts for 2010 and 2015.
Multifamily Express PackPrepared by Kenneth WimberlyQuadplex - W Morphy St
©2010 Esri 4/13/2011 Page 2 of 9
Quadplex - Morphy St. Latitude: 32.7292441501 W Morphy St, Fort Worth, TX 76104-4251, 1501 W Morphy St Longitude: -97.342232Ring: 1, 3, 5 Miles
1 mile radius 3 miles radius 5 miles radius
2000 Population by Sex Males 51.8% 50.5% 50.1% Females 48.2% 49.5% 49.9%2010 Population by Sex Males 51.4% 50.6% 50.2% Females 48.6% 49.4% 49.8%2015 Population by Sex Males 51.2% 50.6% 50.3% Females 48.8% 49.4% 49.7%
2010 Population by Race
Area 1 Area 2 Area 3
White Alone Black Alone Amer Indian Alone Asian/Pacific Alone Other Race Alone Two or More Races0.0
5.0
10.0
15.0
20.0
25.0
30.0
35.0
40.0
45.0
50.0
55.0
3.3
26.2
1.80.8
17.6
50.4
3.1
25.1
2.00.8
18.1
50.8
3.7
29.8
4.3
0.8
10.8
50.6
Per
cent
2010 Hispanic Origin 51.3% 47.6% 51.1%
2010 Population 15+ by Marital StatusTotal 10,016 77,718 206,203 Never Married 34.5% 36.7% 34.2% Married 47.5% 44.5% 47.0% Widowed 6.3% 7.0% 6.6% Divorced 11.7% 11.8% 12.1%
2010 Population 25+ by Educational AttainmentTotal 8,415 60,423 163,463 Less than 9th Grade 23.4% 19.6% 19.7% 9th - 12th Grade, No Diploma 14.4% 13.7% 14.9% High School Graduate 20.7% 22.3% 24.8% Some College, No Degree 13.5% 15.0% 15.8% Associate Degree 3.7% 3.1% 3.7% Bachelor's Degree 14.8% 16.3% 13.5% Graduate/Professional Degree 9.5% 10.1% 7.6%
Data Note: Persons of Hispanic Origin may be of an y race
Source: U.S. Bureau of the Census, 2000 Census of Population and Housing. Esri forecasts for 2010 and 2015.
Multifamily Express PackPrepared by Kenneth WimberlyQuadplex - W Morphy St
©2010 Esri 4/13/2011 Page 3 of 9
Quadplex - Morphy St. Latitude: 32.7292441501 W Morphy St, Fort Worth, TX 76104-4251, 1501 W Morphy St Longitude: -97.342232Ring: 1, 3, 5 Miles
1 mile radius 3 miles radius 5 miles radius
2000 Population by AgeTotal 12,462 93,258 256,649 0 - 4 7.1% 8.0% 8.5% 5 - 9 7.0% 7.1% 8.0% 10 - 14 7.0% 6.5% 7.3% 15 - 19 7.3% 8.5% 8.0% 20 - 24 6.5% 10.0% 8.5% 25 - 34 15.7% 16.8% 16.1% 35 - 44 16.4% 14.8% 14.7% 45 - 54 13.5% 11.0% 11.0% 55 - 64 7.1% 6.4% 6.9% 65 - 74 5.2% 5.1% 5.5% 75 - 84 4.3% 4.0% 4.1% 85+ 2.9% 1.9% 1.5%
2010 Population by AgeTotal 12,580 98,808 269,094 0 - 4 7.4% 8.0% 8.5% 5 - 9 7.0% 7.2% 7.9% 10 - 14 6.0% 6.2% 7.0% 15 - 19 5.9% 8.1% 7.7% 20 - 24 6.8% 9.4% 8.2% 25 - 34 14.2% 16.2% 15.1% 35 - 44 13.9% 13.0% 12.9% 45 - 54 14.1% 12.0% 12.4% 55 - 64 11.2% 9.0% 9.4% 65 - 74 5.8% 5.0% 5.4% 75 - 84 4.4% 3.6% 3.7% 85+ 3.1% 2.3% 1.9%
2015 Population by AgeTotal 12,778 102,371 278,209 0 - 4 7.2% 7.9% 8.3% 5 - 9 7.3% 7.1% 7.8% 10 - 14 6.3% 6.4% 7.3% 15 - 19 5.7% 7.8% 7.5% 20 - 24 6.2% 9.3% 8.2% 25 - 34 14.8% 16.0% 14.8% 35 - 44 12.6% 12.4% 12.2% 45 - 54 12.8% 11.1% 11.4% 55 - 64 12.0% 9.8% 10.4% 65 - 74 7.6% 6.3% 6.7% 75 - 84 4.5% 3.5% 3.5% 85+ 3.1% 2.3% 1.9%
Median Age 2000 34.6 30.8 30.9 2010 36.9 31.7 31.9 2015 37.1 31.9 32.1
Source: U.S. Bureau of the Census, 2000 Census of Population and Housing. Esri forecasts for 2010 and 2015.
Multifamily Express PackPrepared by Kenneth WimberlyQuadplex - W Morphy St
©2010 Esri 4/13/2011 Page 4 of 9
Quadplex - Morphy St. Latitude: 32.7292441501 W Morphy St, Fort Worth, TX 76104-4251, 1501 W Morphy St Longitude: -97.342232Ring: 1, 3, 5 Miles
1 mile radius 3 miles radius 5 miles radius
2000 - 2010 Civilian Employed Population 16+ Annual Rate -1.55% -1.12% -1.12%2010 - 2015 Civilian Employed Population 16+ Annual Rate 0.19% 0.73% 0.73%
Total Civilian Employed Population 16+
Area 1
1990 2000 2010 20150
500
1000
1500
2000
2500
3000
3500
4000
4500
5000
5500
47804734
54715115
Total Civilian Employed Population 16+
Area 2
1990 2000 2010 20150
5000
10000
15000
20000
25000
30000
35000
4000036710
35405
3928136619
Total Civilian Employed Population 16+
Area 3
1990 2000 2010 20150
10000
20000
30000
40000
50000
60000
70000
80000
90000
100000
1100009772694241
10454898900
Source: U.S. Bureau of the Census, 2000 Census of Population and Housing. Esri converted 1990 Census data into 2000 geography. Esri forecasts for 2010 and 2015.
Multifamily Express PackPrepared by Kenneth WimberlyQuadplex - W Morphy St
©2010 Esri 4/13/2011 Page 5 of 9
Quadplex - Morphy St. Latitude: 32.7292441501 W Morphy St, Fort Worth, TX 76104-4251, 1501 W Morphy St Longitude: -97.342232Ring: 1, 3, 5 Miles
1 mile radius 3 miles radius 5 miles radius
2010 Employed Civilian Population 16+ by Industry
Area 1 Area 2 Area 3
Agriculture, Forestry, Fishing, and Hunting
Mining
Construction
Manufacturing
Wholesale Trade
Retail Trade
Transportation/Warehousing
Utilities
Information
Finance/Insurance
Real Estate/Rental/Leasing
Professional, Scientific, and Technical Services
Management of Companies/Enterprises
Admin., Support, and Waste Mgmt. Services
Educational Services
Health Care/Social Assistance
Arts/Entertainment/Recreation
Accommodation/Food Services
Other Services
Public Administration
0.0 1.0 2.0 3.0 4.0 5.0 6.0 7.0 8.0 9.0 10.0 11.0 12.0 13.0 14.0 15.0
2.8
5.7
8.3
1.9
11.6
8.5
5.7
0.2
4.7
2.1
4.1
2.0
0.4
4.0
11.1
3.2
11.1
12.1
0.5
0.1
2.5
5.8
9.0
2.2
12.2
10.0
5.9
0.2
5.9
2.0
4.1
2.0
0.3
3.7
10.3
3.1
9.3
10.7
0.6
0.1
2.3
5.7
9.1
2.0
12.1
6.3
8.0
0.0
5.4
1.5
3.1
1.6
0.1
3.5
12.1
2.8
9.2
14.6
0.4
0.3
Percent
Data Note: Industry descriptions based on 2000 Census of Population and Housing definitions.
Source: Esri forecasts for 2010.
Multifamily Express PackPrepared by Kenneth WimberlyQuadplex - W Morphy St
©2010 Esri 4/13/2011 Page 6 of 9
Quadplex - Morphy St. Latitude: 32.7292441501 W Morphy St, Fort Worth, TX 76104-4251, 1501 W Morphy St Longitude: -97.342232Ring: 1, 3, 5 Miles
1 mile radius 3 miles radius 5 miles radius
2000 - 2010 Population by Industry Annual Rate
Area 1 Area 2 Area 3
Agriculture, Forestry, Fishing, and Hunting
Mining
Construction
Manufacturing
Wholesale Trade
Retail Trade
Transportation/Warehousing
Utilities
Information
Finance/Insurance
Real Estate/Rental/Leasing
Professional, Scientific, and Technical Services
Management of Companies/Enterprises
Admin., Support, and Waste Mgmt. Services
Educational Services
Health Care/Social Assistance
Arts/Entertainment/Recreation
Accommodation/Food Services
Other Services
Public Administration
-6.00 -4.00 -2.00 0.00 2.00 4.00 6.00 8.00 10.00
-0.40
-1.24
0.82
0.89
0.97
-0.70
0.43
8.91
-0.97
0.03
-1.02
-4.35
-3.09
-1.66
-1.39
-2.82
-4.29
-0.79
2.06
-4.13
-0.64
-1.34
0.82
0.55
0.86
-0.93
0.29
7.92
-1.01
-0.33
-1.22
-4.47
-3.20
-1.75
-1.51
-3.05
-4.35
-0.79
1.88
-4.55
-1.36
-1.87
0.15
0.23
0.54
-1.19
0.29
0.00
-1.60
-0.30
-1.83
-4.99
-4.29
-2.59
-2.09
-3.39
-4.93
-1.14
1.21
-6.79
Percent
Data Note: Industry descriptions based on 2000 Census of Population and Housing definitions.
Source: Esri forecasts for 2010.
Multifamily Express PackPrepared by Kenneth WimberlyQuadplex - W Morphy St
©2010 Esri 4/13/2011 Page 7 of 9
Quadplex - Morphy St. Latitude: 32.7292441501 W Morphy St, Fort Worth, TX 76104-4251, 1501 W Morphy St Longitude: -97.342232Ring: 1, 3, 5 Miles
1 mile radius 3 miles radius 5 miles radius
2000 - 2010 Households Annual Rate 0.04% 0.53% 0.43%2010 - 2015 Households Annual Rate 0.39% 0.82% 0.74%
Total Households
Area 1
1990 2000 2010 20150
500
1000
1500
2000
2500
3000
3500
4000
4500 4244416241484206
Total Households
Area 2
1990 2000 2010 20150
5000
10000
15000
20000
25000
30000
35000
4000036040
345953295032712
Total Households
Area 3
1990 2000 2010 20150
10000
20000
30000
40000
50000
60000
70000
80000
90000
100000 9576192310
8869185188
Source: U.S. Bureau of the Census, 2000 Census of Population and Housing. Esri converted 1990 Census data into 2000 geography. Esri forecasts for 2010 and 2015.
Multifamily Express PackPrepared by Kenneth WimberlyQuadplex - W Morphy St
©2010 Esri 4/13/2011 Page 8 of 9
Quadplex - Morphy St. Latitude: 32.7292441501 W Morphy St, Fort Worth, TX 76104-4251, 1501 W Morphy St Longitude: -97.342232Ring: 1, 3, 5 Miles
1 mile radius 3 miles radius 5 miles radius
2010 Household Income
Area 1 Area 2 Area 3
<$15,000
$15,000 - $19,999
$20,000 - $24,999
$25,000 - $29,999
$30,000 - $34,999
$35,000 - $39,999
$40,000 - $44,999
$45,000 - $49,999
$50,000 - $59,999
$60,000 - $74,999
$75,000 - $99,999
$100,000 - $124,999
$125,000 - $149,999
$150,000 - $199,999
$200,000 - $249,999
$250,000 - $499,999
$500,000+
0.0 2.0 4.0 6.0 8.0 10.0 12.0 14.0 16.0 18.0 20.0 22.0
0.1
1.0
1.3
1.9
2.2
3.3
10.2
10.2
7.9
6.4
6.6
5.7
5.1
7.1
6.1
6.7
18.1
0.1
1.1
1.5
1.9
2.6
3.6
9.8
9.3
7.1
6.0
6.4
5.1
4.6
6.3
6.2
6.5
22.0
0.1
0.8
1.2
2.5
3.1
5.0
13.1
7.4
4.6
8.6
6.5
3.8
2.8
5.4
6.9
7.4
20.8
Percent
Median Household Income 2000 $33,614 $31,367 $32,268 2010 $42,115 $39,410 $40,780 2015 $47,048 $45,695 $47,246
2000 - 2010 Median Household Income Annual Rate 2.47% 2.5% 2.56%2010 - 2015 Median Household Income Annual Rate 2.24% 3% 2.99%
2010 Median Net Worth $19,993 $21,724 $29,787
Data Note: Detail may not sum to totals due to rounding. Income represents ann ual income for the preceding year. Income for 2010 and 2015 is expressed in current dollars, including an adjustment for inflation.
Source: U.S. Bureau of the Census, 2000 Census of Population and Housing. Esri forecasts for 2010 and 2015.
Multifamily Express PackPrepared by Kenneth WimberlyQuadplex - W Morphy St
©2010 Esri 4/13/2011 Page 9 of 9
Quadplex - Morphy St. Latitude: 32.7292441501 W Morphy St, Fort Worth, TX 76104-4251, 1501 W Morphy St Longitude: -97.342232Ring: 1, 3, 5 Miles
1 mile radius 3 miles radius 5 miles radius
2000 Housing Units 4,652 36,601 96,811 Owner Occupied Housing Units 43.3% 45.7% 52.2% Renter Occupied Housing Units 45.9% 44.3% 39.4% Vacant Housing Units 10.8% 10.0% 8.4%
2010 Housing Units 4,952 39,606 103,756 Owner Occupied Housing Units 36.7% 40.1% 46.1% Renter Occupied Housing Units 47.4% 47.2% 42.8% Vacant Housing Units 16.0% 12.7% 11.0%
2015 Housing Units 5,110 41,484 108,167 Owner Occupied Housing Units 35.6% 38.7% 44.9% Renter Occupied Housing Units 47.5% 48.1% 43.6% Vacant Housing Units 16.9% 13.1% 11.5%
2010 Housing Units
Area 1 Area 2 Area 3
Owner Occupied Renter Occupied Vacant0.0
5.0
10.0
15.0
20.0
25.0
30.0
35.0
40.0
45.0
50.0
11.0
42.8
46.1
12.7
47.2
40.1
16.0
47.4
36.7
Per
cent
Median Home Value 2000 $88,585 $58,135 $53,561 2010 $99,222 $68,757 $65,220 2015 $107,488 $77,404 $74,736
Data Note: Detail may not sum to totals due to rounding.
Source: U.S. Bureau of the Census, 2000 Census of Population and Housing. Esri forecasts for 2010 and 2015.
NOBLE CREST PROPERTY GROUP
BROKERAGE DETAILS
www.ncpgtexas.com 682.233.0424
QUADRUPLEX - FAIRMOUNT HISTORIC DISTRICT 1501 W MORPHY STREET FORT WORTH, TX 76104
The information contained herein was obtained from sources believed reliable; however KW Commercial McClure Partners and Noble Crest Property Group make no guarantees, warranties or representations as to the completeness or accurateness thereof. The information submitted is subject to errors, omissions, changes of price or condition; prior to sale or lease, or withdraw without notice. Any projections, assumptions or estimates are for illustration purposes only. Recipients should conduct their own investigation.
www.ncpgtexas.com
BROKERAGE DETAILS
Kenneth F. Wimberly serves as Managing Director for KW Commercial (Noble Crest Property Group), specializing in investment sales with a strong background in land sales, lot sales and acquisition, syndications, site selection, bank REO’s, and buyer/tenant representation. His clients include commercial developers, residential developers, homebuilders, banks, and private investors. Prior to joining KW Commercial, Wimberly served as a Senior Advisor at Sperry Van Ness.is founder and president of a real estate investment firm, Noble Crest Capital, Inc. (NCC), and previously served as an agent for Ritter and Associates Real Estate, specializing in land sales. Wimberly served his country as an aircrew member flying aboard EP-3E aircraft as a CTR (cryptologist technician – Morse code) for the United States Navy, stationed in Misawa, Japan. He has also worked in the insurance/investment field and has held the Series 6, Series 7, and Series 63 investment licenses and the Group I insurance license. He received his CCIM designation in 2010 and is currently pursuing his ALC (Accredited Land Counselor) designation. Wimberly is a member of the Greater Fort Worth Association of Realtors, the Texas Association of Realtors, and the Society of Commercial Realtors. Additionally, he served as the 2008 Chairman of the Board of Directors for the Society of Commercial Realtors in Fort Worth. He currently serves on the RCA/Governing Council of the Texas Association of Realtors. He is active in his community and volunteers his time as a “Big” in the Big Brothers/Big Sisters program. He has two children, Knox, age 7 and Grace, age 8.
Ken Wimberly, CCIM Managing Director Direct: 817.635.1013 Mobile: 817.269.2487 [email protected]
KEN WIMBERLY, CCIM
QUADRUPLEX - FAIRMOUNT HISTORIC DISTRICT 1501 W MORPHY STREET FORT WORTH, TX 76104
The information contained herein was obtained from sources believed reliable; however KW Commercial McClure Partners and Noble Crest Property Group make no guarantees, warranties or representations as to the completeness or accurateness thereof. The information submitted is subject to errors, omissions, changes of price or condition; prior to sale or lease, or withdraw without notice. Any projections, assumptions or estimates are for illustration purposes only. Recipients should conduct their own investigation.
www.ncpgtexas.com
BROKERAGE DETAILS
Branson D. Blackburn joined KW Commercial | Noble Crest Property Group in 2011 as an Associate. Branson began his career in commercial real estate with Mark Horn Enterprises, where he assisted in property development, site analysis and management processes. He gained significant sales experience as the Senior Field Sales Manager for the Abilene branch of Vector Marketing, where he was the top sales representative in the district and conducted trainings for new agents. Branson received his BBA in Marketing from Abilene Christian University, where he participated as a member of and consultant for the university’s investment group. Branson is a co-founder and Vice-President for the real estate investment firm, Blackburn Inc., LLC, for which he acts as overseer for the acquisition and development of multifamily properties in West Texas. Branson specializes in multifamily investments as a member of the Noble Crest Property Group and has been licensed as a real estate salesperson by the Texas Real Estate Commission. Branson is married to his wife, Kate Blackburn, and resides in Fort Worth, Texas.
BRANSON BLACKBURN Associate Direct: 817.635.1014 Mobile: 325.864.9775 [email protected]
BRANSON BLACKBURN
QUADRUPLEX - FAIRMOUNT HISTORIC DISTRICT 1501 W MORPHY STREET FORT WORTH, TX 76104
The information contained herein was obtained from sources believed reliable; however KW Commercial McClure Partners and Noble Crest Property Group make no guarantees, warranties or representations as to the completeness or accurateness thereof. The information submitted is subject to errors, omissions, changes of price or condition; prior to sale or lease, or withdraw without notice. Any projections, assumptions or estimates are for illustration purposes only. Recipients should conduct their own investigation.
www.ncpgtexas.com
Before working with a real estate broker, you should know that the
duties of a broker depend on whom the broker represents. If you are a
prospective seller or landlord (owner) or a prospective buyer or tenant
(buyer), you should know that the broker who lists the property for
sale or lease is the owner's agent. A broker who acts as a subagent
represents the owner in cooperation with the listing broker. A broker
who acts as a buyer's agent represents the buyer. A broker may act as
an intermediary between the parties if the parties consent in writing. A
broker can assist you in locating a property, preparing a contract or
lease, or obtaining financing without representing you. A broker is
obligated by law to treat you honestly.
IF THE BROKER REPRESENTS THE OWNER:
The broker becomes the owner's agent by entering into an agreement
with the owner, usually through a written listing agreement, or by
agreeing to act as a subagent by accepting an offer of sub agency from
the listing broker. A subagent may work in a different real estate
office. A listing broker or subagent can assist the buyer but does not
represent the buyer and must place the interests of the owner first. The
buyer should not tell the owner's agent anything the buyer would not
want the owner to know because an owner's agent must disclose to the
owner any material information known to the agent.
IF THE BROKER REPRESENTS THE BUYER:
The broker becomes the buyer's agent by entering into an agreement to
represent the buyer, usually through a written buyer representation
agreement. A buyer's agent can assist the owner but does not represent
the owner and must place the interests of the buyer first. The owner
should not tell a buyer's agent anything the owner would not want the
buyer to know because a buyer's agent must disclose to the buyer any
material information known to the agent.
IF THE BROKER REPRESENTS THE BUYER:
The broker becomes the buyer's agent by entering into an agreement to
represent the buyer, usually through a written buyer representation
agreement. A buyer's agent can assist the owner but does not represent
the owner and must place the interests of the buyer first. The owner
should not tell a buyer's agent anything the owner would not want the
buyer to know because a buyer's agent must disclose to the buyer any
material information known to the agent.
IF THE BROKER ACTS AS AN INTERMEDIARY:
A broker may act as an intermediary between the parties if the broker
complies with the The Texas Real Estate License Act. The broker
must obtain the written consent of each party to the transaction to act
as an intermediary. The written consent must state who will pay the
broker and, in conspicuous bold or underlined print, set forth the
broker's obligations as an intermediary. The broker is required to treat
each party honestly and fairly and to comply with The Texas Real
Estate License Act. A broker who acts as an intermediary in a
transaction:
(1) Shall treat all parties honestly;
(2) May not disclose that the owner will accept a price less than the
asking price unless authorized in writing to do so by the owner;
(3) May not disclose that the buyer will pay a price greater than the
price submitted in a written offer unless authorized in writing to do so
by the buyer; and
(4) May not disclose any confidential information or any information
that a party specifically instructs the broker in writing not to disclose
unless authorized in writing to disclose the information or required to
do so by The Texas Real Estate License act or a court order or if the
information materially relates to the condition of the property.
With the parties' consent, a broker acting as an intermediary between
the parties may appoint a person who is licensed under The Texas
Real Estate License Act and associated with the broker to
communicate with and carry out instructions of one party and another
person who is licensed under the Act and associated with the broker to
communicate with and carry out instructions of the other party.
If you choose to have a broker represent you,
you should enter into a written agreement with the broker that clearly
establishes the broker's obligations and your obligations. The
agreement should state how and by whom the broker will be paid. You
have the right to choose the type of representation, if any, you wish to
receive. Your payment of a fee to a broker does not necessarily
establish that the broker represents you. If you have any questions
regarding the duties and responsibilities of the broker, you should
resolve those questions before proceeding.
INFORMATION ABOUT BROKERAGE SERVICES
In this transaction, KW Commercial is agent for Seller or Landlord only
BROKERAGE DETAILS QUADRUPLEX - FAIRMOUNT HISTORIC DISTRICT 1501 W MORPHY STREET FORT WORTH, TX 76104