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5629 Robins Way North Richland Hills, TX 76180

4 Beds 3 Baths 3,148 sqft Built 2001

INVESTimate

$289,900

List Price

$2,440

$2,196 - $2,684

Rent Est.

$313,962  ( +8.30%)   1 YR EST. FORECAST

PROPERTY INFO

August 23, 2020 RECENTLY ADDED
FACTS
  • Built In 2001
  • Price/Sqft : $92.09
  • 4 Days on Market
  • MLS # : 14416587
  • Updated Date : 08/24/2020 at 20:49
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,148 sqft
  • Baths : 2 full , 1 half
Listing Agent

Texas Dreams Real Estate, Llc

Listing Agent's Description

AMAZING & UNIQUE FLOOR PLAN! 4 Bedrooms with Master Bedroom Down with Adjacent Upstairs Private 3rd Living Area, Home Office, Flex Room or Baby Nursery- Your Options are Endless!! An Abundance of Closet Space, 3 Bedrooms Upstairs with Living Area or Game Room. Main Family Room has lots of Windows, Gas Log Fireplace and Wood Look Flooring. Spacious Breakfast Area opens to Kitchen and is a Chef's Dream with Oversized Island, Granite Countertops and Lots of Cabinets, Built in Microwave, Gas Cooktop and Custom Paint! Formal Dining great for Entertaining. Home Backs Greenbelt and Located in Established Neighborhood. Once this home hits the market you better not wait or someone else will snatch it up.

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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: Holiday Meadows

NeighborhoodNIR Market*CityMarket2010Year20002019110k120k130k140k150k160k170k180k190k200k210k220k230k240kPrice in $104k243k

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

Neighborhood: Holiday Meadows

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700Rent in $9191734

* 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
Holiday Heights Elementary School Primary Regular 686 41 6
North Richland Middle School Middle Regular 827 57 7
Richland High School High Regular 2,137 135 7

Holiday Heights Elementary School

  • Education Level: Primary
  • # of students: 686
  • # of teachers: 41
6
GreatSchools Rating

North Richland Middle School

  • Education Level: Middle
  • # of students: 827
  • # of teachers: 57
7
GreatSchools Rating

Richland High School

  • Education Level: High
  • # of students: 2,137
  • # of teachers: 135
7
GreatSchools Rating
 

$260,910$318,890$289,900

PURCHASE PRICE

$2,196$2,684$2,440

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

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,440
EXPENSES Loan Payment -$1,070
Property Tax -$643
Property Insurance -$209
HOA -$25
Property Management Fees -$99
CASH FLOW
$395

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.

$289,900

PROJECTED PRICE

$2,440

PROJECTED RENT

0.84%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 8.30%
Maintenance Year (1-5) 8.00%
Vacancy 6.39%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$82,574

INVESTMENT

$82,574

Down Payment
$72,475
Rehab Estimate
$5,750
Closing Costs
$4,349

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% down payment or higher enables the proceeds from the asset to cover all costs.

$1,070

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $72,475
Loan Amount $217,425
See What Happens When You Reinvest Cash Flow

11.08

YEARS SAVED

$55,378

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,440

    LIST RENT
  • $0.78

    LIST RENT PER SQFT
  • $2,589

    COMP ESTIMATED VALUE
  • $0.82

    COMP AVG. RENT PER SQFT
Comps Range
$2,200
1$2,2002$2,3953$2,4404$2,6005$2,750
$2,750
RENT COMPS ANALYSIS
  • 5629 Robins Way North Richland Hills, TX 3
    • 4 beds 3 baths ∙ 3,148 Sqft ∙ Built 2001 4 beds 3 baths ∙ 3,148 Sqft ∙ Built 2001
    • Rent
    • Rent Per SQFT
    •  
    • $2,440
    • $0.78
    •  
  • 5801 Robins Way North Richland Hills, TX 1
    • 4 beds 3 baths ∙ 2,812 Sqft ∙ Built 2001 4 beds 3 baths ∙ 2,812 Sqft ∙ Built 2001
    LEASED 02/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.78
    •  
  • 6029 Pedernales Ridge North Richland Hills, TX 2
    • 4 beds 4 baths ∙ 2,836 Sqft ∙ Built 2005 4 beds 4 baths ∙ 2,836 Sqft ∙ Built 2005
    LEASED 03/24/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,395
    • $0.84
    •  
  • 7309 Duncan Court North Richland Hills, TX 4
    • 5 beds 3 baths ∙ 3,339 Sqft ∙ Built 2001 5 beds 3 baths ∙ 3,339 Sqft ∙ Built 2001
    LEASED 08/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $0.78
    •  
  • 8501 Newman Drive North Richland Hills, TX 5
    • 3 beds 3 baths ∙ 3,078 Sqft ∙ Built 2003 3 beds 3 baths ∙ 3,078 Sqft ∙ Built 2003
    LEASED 06/17/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,750
    • $0.89
    •  
PROPERTY LISTING DETAILS
Stephanie Snow
Texas Dreams Real Estate, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14416587
Last Updated: 08/24/2020
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