We have a condo in the Royale Orleans Development at 4317 Bellaire Dr. South. It is in the highly desirable area near TCU and Tanglewood Elementary in Fort Worth, TX near the intersection of Hulen and Bellaire. This is extremely close to the shopping and dining at that intersection, but also to Waterside (think Whole Foods, Taco Diner, REI), The Shops at Clear Fork (think high end, a sleek lifestyle outdoor shopping center with Neimans and a host of other retailers and restaurants).
Here is a map to see for yourself:
The location may seem obvious to some, but not everyone who sees this may know the area well. Also, when looking to invest in real estate, what did we learn in Real Estate 101: Location, Location, Location. I have been buying, selling, brokering and managing real estate since 2002. I don’t care what you say or who you talk to – this is still the main guiding principle as a good real estate investor – IF you care about long-term value appreciation, and I do.
So let’s look at values in the Royale Orleans Condos over the years.
| year | Avg. Size SF | Avg. Price per foot | Avg. Price |
| 2013 | 1,167 | $88.61 | $103,844 |
| 2014 | 1,173 | $95.25 | $109,827 |
| 2015 | 1,146 | $117.37 | $132,033 |
| 2016 | 1,074 | $132.57 | $140,757 |
| 2017 | 1,199 | $141.85 | $167,056 |
So over the last 5 years, Royale Orleans has averaged a 12% increase in value year to year. . . . That’s good.
What we are seeing in these solid value increases, I believe, is the fact that Royale Orleans is one of a very few condominium developments in this area. Historically condos are a smaller size and more affordable than a single family home. So as values have skyrocketed for single family homes in that immediate area, and become more and more unaffordable for the majority of people, Royale Orleans remains affordable, and in the same great location. I know there are trade-offs between single-family homes and condo
If you are looking at this as a passive investment, a rental property, let’s look at the lease values over the last 5 years.
| year | Avg. Size SF | Avg. Rate per foot | Avg. Monthly Rate |
| 2013 | 1,610 | $0.88 | $1,409 |
| 2014 | 1,603 | $1.02 | $1,590 |
| 2015 | 1,422 | $1.08 | $1,491 |
| 2016 | 1,149 | $1.21 | $1,388 |
| 2017 | 1,190 | $1.29 | $1,528 |
There is a LOT less data on lease values because there are fewer transactions per year. That is to say that there is not a huge mix of rental units in Royale Orleans.
We can see that from 2013-2015 these were bigger units. In FACT, there is a unit next to the one we have for sale that leased is the same general size and configuration (3 bedrooms and 2,200 sf+/-) that leased for $1,995 in 2013, $2,000 in 2014 and $2,195 in 2015. That is over 3% annual rent increase per year for the larger unit by itself.
In looking at the rate appreciation we really need to look at the price per foot in this case because the square footages varied so much with the smaller field of data, so just the average rate per month went up and down. The average rental rate per foot though had a steady average increase over the last 5 years at right at 10% annually.
If you have made it this far, thank you. In summary, Royale Orleans is a very solid investment either as a personal homestead or as a rental investment.
Our unit at 4317 Bellaire Dr. S is asking $249,900, which is only $107 per square foot. It can also be leased right now, and the asking lease rate is $2,300 per month which is $0.99 per foot.
As you can see, we have priced the unit lower on a per foot basis to factor in its size as compared to the average unit.
Please don’t hesitate to contact us with any questions you have about the unit, Royale Orleans, or investing in general.
