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6133 Marquita Mews North Richland Hills, TX 76180

3 Beds 2 Baths 1,945 sqft Built 2020

INVESTimate

$475,000

List Price

$2,000

$1,800 - $2,200

Rent Est.

$511,717  ( +7.73%)   1 YR EST. FORECAST

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
FACTS
  • Built In 2020
  • Price/Sqft : $244.22
  • 9 Days on Market
  • MLS # : 14416060
  • Updated Date : 08/19/2020 at 04:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,945 sqft
  • Baths : 2 full
Listing Agent

David M. Weekley

Listing Agent's Description

Waking up to a water view like this is priceless! NEW DAVID WEEKLEY HOME one-story in HomeTown is sure to please with its front veranda and rear covered porches. This home features an open design and 10’ ceilings making it the perfect place to call home. Be the envy of your friends with luxury custom finishes throughout- no detail overlooked. Enjoy the Spa- like Super Shower in your Owner’s Bath. Walking distance to the NRH Rec Centre, Library, shopping, and more! Centrally located and close to DFW Airport. Ask about our 1-2-10 Year Warranty and SAVE BIG with our Energy Saver homes!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • # 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)

PRICE & RENT TRENDS

Neighborhood: Home Town

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $115k336k

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

Neighborhood: Home Town

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800190020002100Rent in $10412171

* 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
 

$427,500$522,500$475,000

PURCHASE PRICE

$1,800$2,200$2,000

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$1.4M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,000
EXPENSES Loan Payment -$1,753
Property Tax -$1,042
Property Insurance -$140
HOA -$143
Property Management Fees -$99
CASH FLOW
-$1,177

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 10% of earned rent to cover both maintenance and periods of vacancy.

$475,000

PROJECTED PRICE

$2,000

PROJECTED RENT

0.42%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 7.73%
Maintenance Year (1-5) 3.00%
Vacancy 6.93%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$127,875

INVESTMENT

$127,875

Down Payment
$118,750
Rehab Estimate
$2,000
Closing Costs
$7,125

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 100% down payment or higher enables the proceeds from the asset to cover all costs.

$1,753

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $118,750
Loan Amount $356,250
See What Happens When You Reinvest Cash Flow

-0.33

YEARS SAVED

$742

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,000

    LIST RENT
  • $1.03

    LIST RENT PER SQFT
  • $1,994

    COMP ESTIMATED VALUE
  • $1.03

    COMP AVG. RENT PER SQFT
Comps Range
$1,750
1$1,7502$1,7803$1,7954$2,0005$2,100
$2,100
RENT COMPS ANALYSIS
  • 6133 Marquita Mews North Richland Hills, TX 4
    • 3 beds 2 baths ∙ 1,945 Sqft ∙ Built 2020 3 beds 2 baths ∙ 1,945 Sqft ∙ Built 2020
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $1.03
    •  
  • 9133 Edenberry Fort Worth, TX 1
    • 3 beds 2 baths ∙ 1,659 Sqft ∙ Built 2019 3 beds 2 baths ∙ 1,659 Sqft ∙ Built 2019
    LEASED 04/29/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $1.05
    •  
  • 7924 Mickey Street North Richland Hills, TX 2
    • 3 beds 2 baths ∙ 1,825 Sqft ∙ Built 2008 3 beds 2 baths ∙ 1,825 Sqft ∙ Built 2008
    LEASED 06/28/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,780
    • $0.98
    •  
  • 6919 Tradonna Lane North Richland Hills, TX 3
    • 3 beds 3 baths ∙ 1,738 Sqft ∙ Built 2002 3 beds 3 baths ∙ 1,738 Sqft ∙ Built 2002
    LEASED 02/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $1.03
    •  
  • 2004 Lorean Court Hurst, TX 5
    • 3 beds 2 baths ∙ 2,012 Sqft ∙ Built 2000 3 beds 2 baths ∙ 2,012 Sqft ∙ Built 2000
    LEASED 03/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.04
    •  
PROPERTY LISTING DETAILS
Jimmy Rado
David M. Weekley
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14416060
Last Updated: 08/19/2020
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