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210 High Ridge Blue Ridge, TX 75424

3 Beds 2 Baths 1,402 sqft Built 2006

$229,900

List Price

$1,590

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

December 12, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2006
  • Price/Sqft : $163.98
  • 2 Days on Market
  • MLS # : 14485455
  • Updated Date : 12/12/2020 at 06:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,402 sqft
  • Baths : 2 full
Listing Agent

Re/max Dfw Associates

Listing Agent's Description

Great Large Corner Lot! Nice 3 Bedroom split floor plan! Gorgeous home completely remodeled, including new paint throughout, brand new flooring! Both bathrooms have been updated with gorgeous tile work and new quartz counter tops and glass shower doors! Master bedroom is large with vaulted ceilings and a nice updated bathroom which includes 2 showers and a bathtub and double sinks! Nice sized secondary bedrooms! Beautiful back yard with a covered back patio! This home will not disappoint!

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

Zip Code: 75424

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360k380kPrice in $101k383k

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

Zip Code: 75424

ZipNIR Market*CityMarket2010Year20002019 Q290010001100120013001400150016001700Rent in $8291734

* 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
Blue Ridge Elementary School Primary Regular 350 21 5
Blue Ridge Middle School Middle Regular 182 10 5
Blue Ridge High School High Regular 187 16 4

Blue Ridge Elementary School

  • Education Level: Primary
  • # of students: 350
  • # of teachers: 21
5
GreatSchools Rating

Blue Ridge Middle School

  • Education Level: Middle
  • # of students: 182
  • # of teachers: 10
5
GreatSchools Rating

Blue Ridge High School

  • Education Level: High
  • # of students: 187
  • # of teachers: 16
4
GreatSchools Rating
 

$206,910$252,890$229,900

PURCHASE PRICE

$1,431$1,749$1,590

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,590
EXPENSES Loan Payment -$848
Property Tax -$465
Property Insurance -$108
Property Management Fees -$99
CASH FLOW
$69

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 14% of earned rent to cover both maintenance and periods of vacancy.

$229,900

PROJECTED PRICE

$1,590

PROJECTED RENT

0.69%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 9.8%
Maintenance Year (1-5) 8.00%
Vacancy 6.39%
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-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$66,674

INVESTMENT

$66,674

Down Payment
$57,475
Rehab Estimate
$5,750
Closing Costs
$3,449

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$848

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $57,475
Loan Amount $172,425
See What Happens When You Reinvest Cash Flow

6.25

YEARS SAVED

$19,299

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,590

    LIST RENT
  • $1.13

    LIST RENT PER SQFT
  • $1,654

    COMP ESTIMATED VALUE
  • $1.18

    COMP AVG. RENT PER SQFT
Comps Range
$1,325
1$1,3252$1,5003$1,590
$1,590
RENT COMPS ANALYSIS
  • 210 High Ridge Blue Ridge, TX 3
    • 3 beds 2 baths ∙ 1,402 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,402 Sqft ∙ Built 2006
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,590
    • $1.13
    •  
  • 212 N Morrow Street Blue Ridge, TX 1
    • 3 beds 2 baths ∙ 1,140 Sqft ∙ Built 1987 3 beds 2 baths ∙ 1,140 Sqft ∙ Built 1987
    property image
    LEASED 11/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,325
    • $1.16
    •  
  • 206 Ridgeway Drive Blue Ridge, TX 2
    • 3 beds 2 baths ∙ 1,253 Sqft ∙ Built 2001 3 beds 2 baths ∙ 1,253 Sqft ∙ Built 2001
    property image
    LEASED 10/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $1.20
    •  
PROPERTY LISTING DETAILS
Tim Allread
Re/max Dfw Associates
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14485455
Last Updated: 12/12/2020
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