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4808 Ridge Circle Benbrook, TX 76126

3 Beds 3 Baths 2,523 sqft Built 2004

$399,000

List Price

$2,300

$2.1K - $2.5K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 25, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2004
  • Price/Sqft : $158.15
  • 4 Days on Market
  • MLS # : 14521757
  • Updated Date : 02/25/2021 at 21:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,523 sqft
  • Baths : 2 full , 1 half
Listing Agent

Compass Re Texas, Llc

Listing Agent's Description

On a quiet street in gated Reata West, this home has loads of curb appeal and a great floorplan. The large great room has a gas fireplace, tall ceilings and flows into the open kitchen and breakfast nook that overlooks the covered backyard patio and perfectly sized pool with water features. All bedrooms are downstairs including the owner’s suite with large, attached bath with a walk-in shower and separate tub. The walk-in closet as a boutique like feel. 2 additional bedrooms and bath are ideally located off the foyer. Located upstairs – a large game or media room with built ins and a half bath. Other features of the home include a formal dining area and plantation shutters throughout. 2 car side garage

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: 76126

ZipNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450kPrice in $117k476k

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

Zip Code: 76126

ZipNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700Rent in $9651734

* 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
Waverly Park Elementary School Primary Regular 810 47 6
Benbrook Middle High School Middle Regular 911 59 5
Benbrook Middle High School High Regular 911 59 5

Waverly Park Elementary School

  • Education Level: Primary
  • # of students: 810
  • # of teachers: 47
6
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
 

$359,100$438,900$399,000

PURCHASE PRICE

$2,070$2,530$2,300

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,300
EXPENSES Loan Payment -$1,386
Property Tax -$860
Property Insurance -$173
HOA -$88
Property Management Fees -$99
CASH FLOW
-$305

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.

$399,000

PROJECTED PRICE

$2,300

PROJECTED RENT

0.58%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 5.6%
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$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

11530-$10k-$8.0k-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$111,485

INVESTMENT

$111,485

Down Payment
$99,750
Rehab Estimate
$5,750
Closing Costs
$5,985

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,386

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $99,750
Loan Amount $299,250
See What Happens When You Reinvest Cash Flow

1

YEARS SAVED

$1,775

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,300

    LIST RENT
  • $0.91

    LIST RENT PER SQFT
  • $2,321

    COMP ESTIMATED VALUE
  • $0.92

    COMP AVG. RENT PER SQFT
Comps Range
$2,000
1$2,0002$2,1383$2,300
$2,300
RENT COMPS ANALYSIS
  • 4808 Ridge Circle Benbrook, TX 3
    • 3 beds 3 baths ∙ 2,523 Sqft ∙ Built 2004 3 beds 3 baths ∙ 2,523 Sqft ∙ Built 2004
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.91
    •  
  • 8464 Arroyo Lane Benbrook, TX 1
    • 3 beds 3 baths ∙ 2,290 Sqft ∙ Built 2006 3 beds 3 baths ∙ 2,290 Sqft ∙ Built 2006
    LEASED 11/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.87
    •  
  • 313 Sterling Drive Benbrook, TX 2
    • 4 beds 2 baths ∙ 2,210 Sqft ∙ Built 2007 4 beds 2 baths ∙ 2,210 Sqft ∙ Built 2007
    LEASED 04/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,138
    • $0.97
    •  
PROPERTY LISTING DETAILS
John Zimmerman
Compass Re Texas, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14521757
Last Updated: 02/25/2021
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