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500 Hat Creek Drive Hurst, TX 76054

4 Beds 2 Baths 2,384 sqft Built 2001

$375,000

List Price

$2,340

$2.1K - $2.6K

Rent Est.

PROPERTY INFO

November 06, 2020 RECENTLY ADDED
FACTS
  • Built In 2001
  • Price/Sqft : $157.30
  • 3 Days on Market
  • MLS # : 14461192
  • Updated Date : 11/07/2020 at 12:44
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,384 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Realty

Listing Agent's Description

BEAUTIFUL SINGLE STORY HOME ON CORNER LOT IN ACCLAIMED KELLER ISD! This stunning home showcases towering ceilings, crown molding, decorative lighting & grand windows that flood the home with natural light. Prepare meals in the spacious kitchen offering extra cabinet space, a gas cooktop & breakfast bar. Entertaining will be a breeze with a formal dining room & 2 living rooms offering a beautiful double mantle, see-through fireplace. Retreat to the primary bedroom boasting an elegant double tray ceiling, dual sink vanity & huge walk-in closet. The 4th bedroom makes a great office as well! Outside you will find a covered patio with a ceiling fan and recently installed fence providing privacy and a relaxing space.

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

Neighborhood: Lonesome Dove Estates

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $113k372k

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

Neighborhood: Lonesome Dove Estates

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100012001400160018002000220024002600Rent in $9852763

* 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
Liberty Elementary School Primary Regular 389 29 10
Bear Creek Intermediate School Middle Regular 781 42 9
Keller High School High Regular 2,645 145 10

Liberty Elementary School

  • Education Level: Primary
  • # of students: 389
  • # of teachers: 29
10
GreatSchools Rating

Bear Creek Intermediate School

  • Education Level: Middle
  • # of students: 781
  • # of teachers: 42
9
GreatSchools Rating

Keller High School

  • Education Level: High
  • # of students: 2,645
  • # of teachers: 145
10
GreatSchools Rating
 

$337,500$412,500$375,000

PURCHASE PRICE

$2,106$2,574$2,340

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,340
EXPENSES Loan Payment -$1,384
Property Tax -$765
Property Insurance -$165
Property Management Fees -$99
CASH FLOW
-$72

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.

$375,000

PROJECTED PRICE

$2,340

PROJECTED RENT

0.62%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 4.9%
Maintenance Year (1-5) 8.00%
Vacancy 6.93%
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-$5.0k$0.0$5.0k$10k

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$105,125

INVESTMENT

$105,125

Down Payment
$93,750
Rehab Estimate
$5,750
Closing Costs
$5,625

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,384

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $93,750
Loan Amount $281,250
See What Happens When You Reinvest Cash Flow

3.58

YEARS SAVED

$15,087

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,340

    LIST RENT
  • $0.98

    LIST RENT PER SQFT
  • $2,324

    COMP ESTIMATED VALUE
  • $0.98

    COMP AVG. RENT PER SQFT
Comps Range
$1,995
1$1,9952$2,0003$2,3404$2,5005$2,800
$2,800
RENT COMPS ANALYSIS
  • 500 Hat Creek Drive Hurst, TX 3
    • 4 beds 2 baths ∙ 2,384 Sqft ∙ Built 2001 4 beds 2 baths ∙ 2,384 Sqft ∙ Built 2001
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,340
    • $0.98
    •  
  • 7604 Ford Drive North Richland Hills, TX 1
    • 3 beds 2 baths ∙ 2,090 Sqft ∙ Built 1983 3 beds 2 baths ∙ 2,090 Sqft ∙ Built 1983
    property image
    LEASED 07/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.95
    •  
  • 6705 Rolling Hills Drive North Richland Hills, TX 2
    • 3 beds 2 baths ∙ 2,234 Sqft ∙ Built 1994 3 beds 2 baths ∙ 2,234 Sqft ∙ Built 1994
    property image
    LEASED 01/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.90
    •  
  • 3133 Hurstview Drive Hurst, TX 4
    • 3 beds 3 baths ∙ 2,484 Sqft ∙ Built 1983 3 beds 3 baths ∙ 2,484 Sqft ∙ Built 1983
    property image
    LEASED 07/23/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.01
    •  
  • 602 Brookhollow Drive Colleyville, TX 5
    • 5 beds 4 baths ∙ 2,683 Sqft ∙ Built 1989 5 beds 4 baths ∙ 2,683 Sqft ∙ Built 1989
    property image
    LEASED 05/20/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $1.04
    •  
PROPERTY LISTING DETAILS
Cindy Giles
Keller Williams Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14461192
Last Updated: 11/07/2020
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