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4932 Ridge Circle Benbrook, TX 76126

3 Beds 2 Baths 2,297 sqft Built 2006

$359,000

List Price

$2,170

$2K - $2.4K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 25, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2006
  • Price/Sqft : $156.29
  • 4 Days on Market
  • MLS # : 14521703
  • Updated Date : 02/25/2021 at 18:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,297 sqft
  • Baths : 2 full
Listing Agent

Compass Re Texas, Llc

Listing Agent's Description

Entering through a charming courtyard, this 3 bed 2 bath supplies a fantastic floorplan. Living area with 11-foot ceilings and has an adjoining dining area with hardwood floors, a gas burning fireplace & plantation shutters. Kitchen includes double ovens, a breakfast island, & walk-in pantry. The primary bedroom is generously sized has an ensuite bath with separate tub and shower & large master closet. The two additional bedrooms are separated by a study with built ins. Top notch outdoor kitchen that includes a built-in grill, ice box, griddle, & bar top. Finished garage with tile floors, accent paint and plantation shutters. The neighborhood of Reata West has quiet streets and a gated entry.

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
 

$323,100$394,900$359,000

PURCHASE PRICE

$1,953$2,387$2,170

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,170
EXPENSES Loan Payment -$1,247
Property Tax -$774
Property Insurance -$160
HOA -$88
Property Management Fees -$99
CASH FLOW
-$197

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.

$359,000

PROJECTED PRICE

$2,170

PROJECTED RENT

0.60%

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-$8.0k-$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$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$100,885

INVESTMENT

$100,885

Down Payment
$89,750
Rehab Estimate
$5,750
Closing Costs
$5,385

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,247

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $89,750
Loan Amount $269,250
See What Happens When You Reinvest Cash Flow

1.58

YEARS SAVED

$3,660

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,170

    LIST RENT
  • $0.94

    LIST RENT PER SQFT
  • $2,182

    COMP ESTIMATED VALUE
  • $0.95

    COMP AVG. RENT PER SQFT
Comps Range
$2,000
1$2,0002$2,1383$2,1704$2,195
$2,195
RENT COMPS ANALYSIS
  • 4932 Ridge Circle Benbrook, TX 3
    • 3 beds 2 baths ∙ 2,297 Sqft ∙ Built 2006 3 beds 2 baths ∙ 2,297 Sqft ∙ Built 2006
    • Rent
    • Rent Per SQFT
    •  
    • $2,170
    • $0.94
    •  
  • 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
    •  
  • 5212 Estrella Lane Benbrook, TX 4
    • 3 beds 2 baths ∙ 2,170 Sqft ∙ Built 2004 3 beds 2 baths ∙ 2,170 Sqft ∙ Built 2004
    LEASED 04/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,195
    • $1.01
    •  
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 #: 14521703
Last Updated: 02/25/2021
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