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5920 Pedernales Ridge North Richland Hills, TX 76180

4 Beds 2 Baths 2,202 sqft Built 2005

$339,000

List Price

$2,160

$1.9K - $2.4K

Rent Est.

PROPERTY INFO

December 11, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2005
  • Price/Sqft : $153.95
  • 4 Days on Market
  • MLS # : 14482999
  • Updated Date : 12/10/2020 at 12:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,202 sqft
  • Baths : 2 full
Listing Agent

The Wall Team Realty Assoc

Listing Agent's Description

BEAUTIFUL MOVE IN READY 4 bedroom home situated in the Fountain Ridge Addition with premium location right off of Davis Blvd. Minutes away from NRH20 Water Park, Tarrant County College, and Walker's Creek Park. Spacious entry way with formal living and dining. Walls of windows for an abundance of natural light. Kitchen hosts new floors, gas cook top, stylish backsplash, breakfast nook with sitting ledge, and plenty of cabinet space with fresh paint. Owner's retreat has access to 4th bedroom which is great for a nursery. Backyard features a patio with a pergola perfect for entertaining guests. 2 car garage also boasts upgraded epoxy flooring Birdville ISD!

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: Fountain Ridge

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360kPrice in $123k379k

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

Neighborhood: Fountain Ridge

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21200140016001800200022002400Rent in $10412529

* 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
Walker Creek Elementary School Primary Regular 653 44 7
Smithfield Middle School Middle Regular 818 49 10
Birdville High School High Regular 2,083 125 7

Walker Creek Elementary School

  • Education Level: Primary
  • # of students: 653
  • # of teachers: 44
7
GreatSchools Rating

Smithfield Middle School

  • Education Level: Middle
  • # of students: 818
  • # of teachers: 49
10
GreatSchools Rating

Birdville High School

  • Education Level: High
  • # of students: 2,083
  • # of teachers: 125
7
GreatSchools Rating
 

$305,100$372,900$339,000

PURCHASE PRICE

$1,944$2,376$2,160

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,160
EXPENSES Loan Payment -$1,251
Property Tax -$744
Property Insurance -$154
HOA -$55
Property Management Fees -$99
CASH FLOW
-$143

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.

$339,000

PROJECTED PRICE

$2,160

PROJECTED RENT

0.64%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 1.0%
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$100k$200k$300k$400k$500k$600k$700k$800k

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$95,585

INVESTMENT

$95,585

Down Payment
$84,750
Rehab Estimate
$5,750
Closing Costs
$5,085

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,251

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $84,750
Loan Amount $254,250
See What Happens When You Reinvest Cash Flow

2.42

YEARS SAVED

$7,456

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,160

    LIST RENT
  • $0.98

    LIST RENT PER SQFT
  • $2,152

    COMP ESTIMATED VALUE
  • $0.98

    COMP AVG. RENT PER SQFT
Comps Range
$1,700
1$1,7002$1,9503$1,9704$2,0505$2,160
$2,160
RENT COMPS ANALYSIS
  • 5920 Pedernales Ridge North Richland Hills, TX 5
    • 4 beds 2 baths ∙ 2,202 Sqft ∙ Built 2005 4 beds 2 baths ∙ 2,202 Sqft ∙ Built 2005
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,160
    • $0.98
    •  
  • 5728 Caracas Drive North Richland Hills, TX 1
    • 4 beds 2 baths ∙ 1,853 Sqft ∙ Built 1985 4 beds 2 baths ∙ 1,853 Sqft ∙ Built 1985
    property image
    LEASED 06/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.92
    •  
  • 8401 Emerald Circle North Richland Hills, TX 2
    • 4 beds 2 baths ∙ 1,919 Sqft ∙ Built 1999 4 beds 2 baths ∙ 1,919 Sqft ∙ Built 1999
    property image
    LEASED 07/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $1.02
    •  
  • 7424 Jamie Renee Lane North Richland Hills, TX 3
    • 3 beds 3 baths ∙ 2,000 Sqft ∙ Built 1988 3 beds 3 baths ∙ 2,000 Sqft ∙ Built 1988
    property image
    LEASED 03/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,970
    • $0.99
    •  
  • 8405 Emerald Circle North Richland Hills, TX 4
    • 4 beds 2 baths ∙ 2,075 Sqft ∙ Built 1999 4 beds 2 baths ∙ 2,075 Sqft ∙ Built 1999
    property image
    LEASED 12/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,050
    • $0.99
    •  
PROPERTY LISTING DETAILS
Laurie Wall
The Wall Team Realty Assoc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14482999
Last Updated: 12/10/2020
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