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10508 Stonehill Drive Benbrook, TX 76126

3 Beds 2 Baths 1,989 sqft Built 2004

$310,000

List Price

$1,860

$1.7K - $2K

Rent Est.

PROPERTY INFO

January 16, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2004
  • Price/Sqft : $155.86
  • 2 Days on Market
  • MLS # : 14499139
  • Updated Date : 01/15/2021 at 22:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,989 sqft
  • Baths : 2 full
Listing Agent

Apple Realty, Inc.

Listing Agent's Description

Lovely 3 bed, 2 bath, Office or Flex Room in beautiful Whitestone Ranch. Features lovely open floor plan with ceramic tile, wood floors, gas brick FP. High ceiling and brand new windows offer soft natural light throughout. Well sized, Eat-in kitchen with signature cabinets, stone ceramic tile, and GAS COOKING. Spacious master and sleek en-suite w dual sinks, garden tub, sep shower, and massive closet. Large bedrooms with hardwoods and walk-in closet. Nice study or Flex Room has French Doors and hardwoods . Huge utility room perfect for separate fridge or freezer. Nicely landscaped and oversized covered patio perfect for Texas sized Bbq's and relaxing. Close proximity to the highly regarded Benbrook schools!

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: Whitestone Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450kPrice in $117k496k

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

Neighborhood: Whitestone Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019 Q212001300140015001600170018001900200021002200Rent in $11262260

* 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
Westpark Elementary School Primary Regular 484 25 8
Benbrook Middle High School Middle Regular 911 59 5
Benbrook Middle High School High Regular 911 59 5

Westpark Elementary School

  • Education Level: Primary
  • # of students: 484
  • # of teachers: 25
8
GreatSchools Rating

Benbrook Middle High School

  • Education Level: Middle
  • # of students: 911
  • # of teachers: 59
5
GreatSchools Rating

Benbrook Middle High School

  • Education Level: High
  • # of students: 911
  • # of teachers: 59
5
GreatSchools Rating
 

$279,000$341,000$310,000

PURCHASE PRICE

$1,674$2,046$1,860

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,860
EXPENSES Loan Payment -$1,077
Property Tax -$668
Property Insurance -$142
HOA -$25
Property Management Fees -$99
CASH FLOW
-$151

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.

$310,000

PROJECTED PRICE

$1,860

PROJECTED RENT

0.60%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 5.3%
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$800k$900k

PROJECTED ANNUAL CASH FLOW

11530-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k$900k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$87,900

INVESTMENT

$87,900

Down Payment
$77,500
Rehab Estimate
$5,750
Closing Costs
$4,650

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,077

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $77,500
Loan Amount $232,500
See What Happens When You Reinvest Cash Flow

2.08

YEARS SAVED

$4,334

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,860

    LIST RENT
  • $0.94

    LIST RENT PER SQFT
  • $1,875

    COMP ESTIMATED VALUE
  • $0.94

    COMP AVG. RENT PER SQFT
Comps Range
$1,750
1$1,7502$1,8353$1,8604$1,9955$1,995
$1,995
RENT COMPS ANALYSIS
  • 10508 Stonehill Drive Benbrook, TX 3
    • 3 beds 2 baths ∙ 1,989 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,989 Sqft ∙ Built 2004
    • Rent
    • Rent Per SQFT
    •  
    • $1,860
    • $0.94
    •  
  • 7133 Stewart Lane Benbrook, TX 1
    • 4 beds 2 baths ∙ 1,863 Sqft ∙ Built 2005 4 beds 2 baths ∙ 1,863 Sqft ∙ Built 2005
    LEASED 02/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.94
    •  
  • 7124 Lost Horizon Drive Benbrook, TX 2
    • 3 beds 2 baths ∙ 1,898 Sqft ∙ Built 1995 3 beds 2 baths ∙ 1,898 Sqft ∙ Built 1995
    LEASED 07/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,835
    • $0.97
    •  
  • 10613 Whitestone Ranch Road Benbrook, TX 4
    • 3 beds 2 baths ∙ 2,113 Sqft ∙ Built 2002 3 beds 2 baths ∙ 2,113 Sqft ∙ Built 2002
    LEASED 03/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.94
    •  
  • 7205 Royal Oak Drive Benbrook, TX 5
    • 3 beds 3 baths ∙ 2,176 Sqft ∙ Built 1996 3 beds 3 baths ∙ 2,176 Sqft ∙ Built 1996
    LEASED 12/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.92
    •  
PROPERTY LISTING DETAILS
Jan-michael Olsberg
Apple Realty, Inc.
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14499139
Last Updated: 01/15/2021
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