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6008 Hilltop Drive Watauga, TX 76148

4 Beds 3 Baths 2,129 sqft Built 1988

$289,000

List Price

$2,120

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

January 14, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1988
  • Price/Sqft : $135.74
  • 4 Days on Market
  • MLS # : 14498754
  • Updated Date : 01/16/2021 at 20:29
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,129 sqft
  • Baths : 2 full , 1 half
Listing Agent

Hartford Realty Group

Listing Agent's Description

***Multiple offers received. Submit highest and best offers by 9 am Monday morning. Recently remodeled, move in ready 2-Story home in Keller ISD. Recent updates include Granite counter tops in kitchen and bathrooms, Stainless Steel appliances and fresh paint inside and out. Game room landing upstairs with wood floors. Sit on your back porch under the Gazebo overlooking the park with walking, jogging trails. Easy access to lots of shopping, 820, and I-35. Video Walk through available in MLS media.

SEE MORE

MARKET HIGHLIGHTS

  • # 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)
  • . Dallas has 7th largest concentration of high-tech jobs in the U.S. (Dallas Chamber)

PRICE & RENT TRENDS

Neighborhood: Hilltop Watauga

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240kPrice in $87k243k

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

Neighborhood: Hilltop Watauga

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700Rent in $9021734

* 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
Parkwood Hill Intermediate School Primary Regular 1,070 57 8
Hillwood Middle School Middle Regular 1,087 65 8
Central High School High Regular 2,573 140 8

Parkwood Hill Intermediate School

  • Education Level: Primary
  • # of students: 1,070
  • # of teachers: 57
8
GreatSchools Rating

Hillwood Middle School

  • Education Level: Middle
  • # of students: 1,087
  • # of teachers: 65
8
GreatSchools Rating

Central High School

  • Education Level: High
  • # of students: 2,573
  • # of teachers: 140
8
GreatSchools Rating
 

$260,100$317,900$289,000

PURCHASE PRICE

$1,908$2,332$2,120

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,120
EXPENSES Loan Payment -$1,004
Property Tax -$638
Property Insurance -$150
Property Management Fees -$99
CASH FLOW
$229

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.

$289,000

PROJECTED PRICE

$2,120

PROJECTED RENT

0.73%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 11.9%
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$1.2M

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k

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$82,335

INVESTMENT

$82,335

Down Payment
$72,250
Rehab Estimate
$5,750
Closing Costs
$4,335

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,004

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $72,250
Loan Amount $216,750
See What Happens When You Reinvest Cash Flow

8.42

YEARS SAVED

$32,187

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,120

    LIST RENT
  • $1

    LIST RENT PER SQFT
  • $2,124

    COMP ESTIMATED VALUE
  • $1

    COMP AVG. RENT PER SQFT
Comps Range
$1,825
1$1,8252$1,9953$2,1004$2,1205$2,200
$2,200
RENT COMPS ANALYSIS
  • 6008 Hilltop Drive Watauga, TX 4
    • 4 beds 3 baths ∙ 2,129 Sqft ∙ Built 1988 4 beds 3 baths ∙ 2,129 Sqft ∙ Built 1988
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,120
    • $1.00
    •  
  • 210 Arabian Lane Keller, TX 1
    • 3 beds 2 baths ∙ 1,984 Sqft ∙ Built 1991 3 beds 2 baths ∙ 1,984 Sqft ∙ Built 1991
    property image
    LEASED 04/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,825
    • $0.92
    •  
  • 7741 Kelly Lynn Lane Watauga, TX 2
    • 5 beds 3 baths ∙ 2,004 Sqft ∙ Built 1996 5 beds 3 baths ∙ 2,004 Sqft ∙ Built 1996
    property image
    LEASED 10/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $1.00
    •  
  • 2118 Rim Rock Drive Keller, TX 3
    • 4 beds 3 baths ∙ 2,068 Sqft ∙ Built 1991 4 beds 3 baths ∙ 2,068 Sqft ∙ Built 1991
    property image
    LEASED 09/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.02
    •  
  • 2138 Stoneridge Drive Keller, TX 5
    • 4 beds 3 baths ∙ 2,099 Sqft ∙ Built 1991 4 beds 3 baths ∙ 2,099 Sqft ∙ Built 1991
    property image
    LEASED 11/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $1.05
    •  
PROPERTY LISTING DETAILS
Chris Johnston
Hartford Realty Group
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14498754
Last Updated: 01/16/2021
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