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3412 Bear Creek Drive Hurst, TX 76054

4 Beds 4 Baths 3,318 sqft Built 2002

INVESTimate

$460,000

List Price

$2,920

$2,670 - $3,170

Rent Est.

$499,330  ( +8.55%)   1 YR EST. FORECAST

PROPERTY INFO

FACTS
  • Built In 2002
  • Price/Sqft : $138.64
  • 10 Days on Market
  • MLS # : 14414454
  • Updated Date : 08/21/2020 at 20:07
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,318 sqft
  • Baths : 3 full , 1 half
Listing Agent

Top Hat Realty Group, Lp

Listing Agent's Description

Stunning and boasting spacious rooms, study, formal dining, game room, and more! Granite counters and SS appliances in the large kitchen. Hardwood floors downstairs with vaulted ceilings. Master is downstairs and features plenty of space. Upstairs secondary bedroom can serve as a second master. This one is a must see! New roof and gutters 2019. Water heaters 2018, Landscape stonework 2020.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • # 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)

PRICE & RENT TRENDS

Neighborhood: Madison Place

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400kPrice in $113k446k

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

Neighborhood: Madison Place

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001200140016001800200022002400260028003000Rent in $9853109

* 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
Bransford Elementary School Primary Regular 425 30 10
Colleyville Middle School Middle Regular 725 40 9
Grapevine High School High Regular 2,015 129 7

Bransford Elementary School

  • Education Level: Primary
  • # of students: 425
  • # of teachers: 30
10
GreatSchools Rating

Colleyville Middle School

  • Education Level: Middle
  • # of students: 725
  • # of teachers: 40
9
GreatSchools Rating

Grapevine High School

  • Education Level: High
  • # of students: 2,015
  • # of teachers: 129
7
GreatSchools Rating
 

$414,000$506,000$460,000

PURCHASE PRICE

$2,628$3,212$2,920

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,920
EXPENSES Loan Payment -$1,697
Property Tax -$938
Property Insurance -$219
HOA -$13
Property Management Fees -$99
CASH FLOW
-$46

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.

$460,000

PROJECTED PRICE

$2,920

PROJECTED RENT

0.63%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 8.55%
Maintenance Year (1-5) 8.00%
Vacancy 6.93%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$127,650

INVESTMENT

$127,650

Down Payment
$115,000
Rehab Estimate
$5,750
Closing Costs
$6,900

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,697

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $115,000
Loan Amount $345,000
See What Happens When You Reinvest Cash Flow

4.08

YEARS SAVED

$21,223

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,920

    LIST RENT
  • $0.88

    LIST RENT PER SQFT
  • $3,111

    COMP ESTIMATED VALUE
  • $0.94

    COMP AVG. RENT PER SQFT
Comps Range
$2,675
1$2,6752$2,8503$2,9204$3,1005$3,500
$3,500
RENT COMPS ANALYSIS
  • 3412 Bear Creek Drive Hurst, TX 3
    • 4 beds 4 baths ∙ 3,318 Sqft ∙ Built 2002 4 beds 4 baths ∙ 3,318 Sqft ∙ Built 2002
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,920
    • $0.88
    •  
  • 3117 Hurstview Drive Hurst, TX 1
    • 4 beds 3 baths ∙ 3,097 Sqft ∙ Built 1984 4 beds 3 baths ∙ 3,097 Sqft ∙ Built 1984
    property image
    LEASED 04/16/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,675
    • $0.86
    •  
  • 3125 Hurstview Drive Hurst, TX 2
    • 4 beds 3 baths ∙ 3,026 Sqft ∙ Built 1984 4 beds 3 baths ∙ 3,026 Sqft ∙ Built 1984
    property image
    LEASED 10/02/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,850
    • $0.94
    •  
  • 713 Paul Drive Hurst, TX 4
    • 5 beds 4 baths ∙ 3,315 Sqft ∙ Built 1988 5 beds 4 baths ∙ 3,315 Sqft ∙ Built 1988
    property image
    LEASED 05/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,100
    • $0.94
    •  
  • 3103 River Bend Drive Colleyville, TX 5
    • 4 beds 4 baths ∙ 3,474 Sqft ∙ Built 2001 4 beds 4 baths ∙ 3,474 Sqft ∙ Built 2001
    property image
    LEASED 07/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $1.01
    •  
PROPERTY LISTING DETAILS
Tammy Melendez
Top Hat Realty Group, Lp
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14414454
Last Updated: 08/21/2020
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