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208 Harmon Road Hurst, TX 76053

3 Beds 2 Baths 1,468 sqft Built 2004

$250,000

List Price

$1,450

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

December 18, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2004
  • Price/Sqft : $170.30
  • 3 Days on Market
  • MLS # : 14487508
  • Updated Date : 12/19/2020 at 23:14
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,468 sqft
  • Baths : 2 full
Listing Agent

United Real Estate

Listing Agent's Description

Need Space?! 17 x 19 Workshop or extra Auto Storage with Electricity, Water and another single car sized storage space attached! Cabinets and shelves aplenty! 2 car attached Garage on the main house and an additional 24x24 carport with an extended drive way for extensive parking options. Manual sliding gate for extra security. Lovely Brick home with tons of potential uses for the beautifully crafted Workshop. Nestled on a half acre and convenient to loops 820, 183 and 121. Minutes from NE Mall and ton's of shopping and eating locations. 15-20 min from DFW Airport or Down Town Fort Worth. Sprinkler System around the main house. Washer, Dryer and Fridge stay with an acceptable offer!

SEE MORE

MARKET HIGHLIGHTS

  • # 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)
  • . Dallas has 7th largest concentration of high-tech jobs in the U.S. (Dallas Chamber)

PRICE & RENT TRENDS

Zip Code: 76053

ZipNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240kPrice in $88k246k

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

Zip Code: 76053

ZipNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700Rent in $9311736

* 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
West Hurst Elementary School Primary Regular 494 30 7
Hurst Junior High School Middle Regular 1,052 60 7
Hurst Junior High School High Regular 1,052 60 7

West Hurst Elementary School

  • Education Level: Primary
  • # of students: 494
  • # of teachers: 30
7
GreatSchools Rating

Hurst Junior High School

  • Education Level: Middle
  • # of students: 1,052
  • # of teachers: 60
7
GreatSchools Rating

Hurst Junior High School

  • Education Level: High
  • # of students: 1,052
  • # of teachers: 60
7
GreatSchools Rating
 

$225,000$275,000$250,000

PURCHASE PRICE

$1,305$1,595$1,450

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,450
EXPENSES Loan Payment -$922
Property Tax -$510
Property Insurance -$112
Property Management Fees -$99
CASH FLOW
-$193

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.

$250,000

PROJECTED PRICE

$1,450

PROJECTED RENT

0.58%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.74%
Appreciation Year (1-5) 10.4%
Maintenance Year (1-5) 8.00%
Vacancy 6.69%
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

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$72,000

INVESTMENT

$72,000

Down Payment
$62,500
Rehab Estimate
$5,750
Closing Costs
$3,750

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$922

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $62,500
Loan Amount $187,500
See What Happens When You Reinvest Cash Flow

1.33

YEARS SAVED

$1,981

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,450

    LIST RENT
  • $0.99

    LIST RENT PER SQFT
  • $1,461

    COMP ESTIMATED VALUE
  • $1

    COMP AVG. RENT PER SQFT
Comps Range
$1,450
1$1,4502$1,4503$1,4954$1,5955$1,700
$1,700
RENT COMPS ANALYSIS
  • 208 Harmon Road Hurst, TX 2
    • 3 beds 2 baths ∙ 1,468 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,468 Sqft ∙ Built 2004
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.99
    •  
  • 642 Brown Trail Hurst, TX 1
    • 3 beds 2 baths ∙ 1,400 Sqft ∙ Built 2010 3 beds 2 baths ∙ 1,400 Sqft ∙ Built 2010
    LEASED 06/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $1.04
    •  
  • 330 Grace Circle Hurst, TX 3
    • 3 beds 2 baths ∙ 1,490 Sqft ∙ Built 2007 3 beds 2 baths ∙ 1,490 Sqft ∙ Built 2007
    LEASED 12/19/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $1.00
    •  
  • 317 Grace Circle Hurst, TX 4
    • 3 beds 2 baths ∙ 1,660 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,660 Sqft ∙ Built 2006
    LEASED 07/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.96
    •  
  • 221 Creekside Drive Hurst, TX 5
    • 4 beds 3 baths ∙ 1,739 Sqft ∙ Built 1989 4 beds 3 baths ∙ 1,739 Sqft ∙ Built 1989
    LEASED 08/04/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.98
    •  
PROPERTY LISTING DETAILS
Barbara Perez
United Real Estate
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14487508
Last Updated: 12/19/2020
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