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627 Ridgehill Drive Burleson, TX 76028

3 Beds 2 Baths 1,909 sqft Built 2005

$239,500

List Price

$1,580

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 14, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2005
  • Price/Sqft : $125.46
  • 1 Days on Market
  • MLS # : 14532140
  • Updated Date : 03/13/2021 at 12:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,909 sqft
  • Baths : 2 full
Listing Agent

Coldwell Banker Realty

Listing Agent's Description

IMMACULATE 3-2-2 in Hillside Addition. BURLESON ISD! Darling drive up appeal! Amenities include an open concept, split bedroom floor-plan, 2 inch blinds, vaulted ceilings, ceiling fans, prewired for an alarm, warm neutral tones and a wood burning decorative fireplace. Master suite includes a garden tub, dual sinks, separate shower and his and hers closets. Gourmet kitchen with an island, walk in pantry, breakfast nook and an abundance of counter and cabinet space. BONUS living space, flex or home office. Sprinkler system and covered porch and patio plus a private fenced backyard. Tenant occupied until 4-30-2021. (New photos coming soon)

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: Hillside

NeighborhoodNIR Market*CityMarket2010Year20002019120k130k140k150k160k170k180k190k200k210k220k230k240k250kPrice in $119k258k

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

Neighborhood: Hillside

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2115012001250130013501400145015001550160016501700Rent in $11261734

* 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
Frazier Elementary School Primary Regular 569 36 7
Burleson High School High Regular 1,583 101 7

Frazier Elementary School

  • Education Level: Primary
  • # of students: 569
  • # of teachers: 36
7
GreatSchools Rating

Burleson High School

  • Education Level: High
  • # of students: 1,583
  • # of teachers: 101
7
GreatSchools Rating
 

$215,550$263,450$239,500

PURCHASE PRICE

$1,422$1,738$1,580

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,580
EXPENSES Loan Payment -$832
Property Tax -$574
Property Insurance -$138
Property Management Fees -$99
CASH FLOW
-$63

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.

$239,500

PROJECTED PRICE

$1,580

PROJECTED RENT

0.66%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 7.4%
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$100k$200k$300k$400k$500k$600k$700k

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$69,218

INVESTMENT

$69,218

Down Payment
$59,875
Rehab Estimate
$5,750
Closing Costs
$3,593

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$832

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $59,875
Loan Amount $179,625
See What Happens When You Reinvest Cash Flow

3

YEARS SAVED

$5,814

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,580

    LIST RENT
  • $0.83

    LIST RENT PER SQFT
  • $1,680

    COMP ESTIMATED VALUE
  • $0.88

    COMP AVG. RENT PER SQFT
Comps Range
$1,580
1$1,5802$1,5953$1,6504$1,7005$1,850
$1,850
RENT COMPS ANALYSIS
  • 627 Ridgehill Drive Burleson, TX 1
    • 3 beds 2 baths ∙ 1,909 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,909 Sqft ∙ Built 2005
    • Rent
    • Rent Per SQFT
    •  
    • $1,580
    • $0.83
    •  
  • 800 Canyon Cove Drive Burleson, TX 2
    • 4 beds 2 baths ∙ 1,848 Sqft ∙ Built 2001 4 beds 2 baths ∙ 1,848 Sqft ∙ Built 2001
    LEASED 06/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.86
    •  
  • 904 Joshua Drive Burleson, TX 3
    • 4 beds 2 baths ∙ 1,958 Sqft ∙ Built 2005 4 beds 2 baths ∙ 1,958 Sqft ∙ Built 2005
    LEASED 04/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.84
    •  
  • 853 Canyon Cove Drive Burleson, TX 4
    • 4 beds 2 baths ∙ 1,848 Sqft ∙ Built 2001 4 beds 2 baths ∙ 1,848 Sqft ∙ Built 2001
    LEASED 10/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.92
    •  
  • 1007 Tyler James Drive Burleson, TX 5
    • 3 beds 2 baths ∙ 2,052 Sqft ∙ Built 2002 3 beds 2 baths ∙ 2,052 Sqft ∙ Built 2002
    LEASED 12/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.90
    •  
PROPERTY LISTING DETAILS
Sarah Braddock
Coldwell Banker Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14532140
Last Updated: 03/13/2021
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