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6444 Hawks Ridge Drive North Richland Hills, TX 76182

4 Beds 5 Baths 4,205 sqft Built 2017

$750,000

List Price

$3,380

$3.1K - $3.6K

Rent Est.

PROPERTY INFO

December 05, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2017
  • Price/Sqft : $178.36
  • 2 Days on Market
  • MLS # : 14479749
  • Updated Date : 12/05/2020 at 14:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 4,205 sqft
  • Baths : 4 full , 1 half
Listing Agent

Compass Re Texas, Llc

Listing Agent's Description

Beautiful custom home with many upgrades. Enjoy the open concept for the kitchen, breakfast and family rooms. Hardwood floors, plantation shutters, and granite countertops. Gourmet kitchen with built in refrigerator, stainless steel appliances, and walk in pantry. Spacious laundry room has natural light, utility closet, sink and plenty of counter space. Spa like master bathroom with his and her vanity, freestanding tub, wainscoting, and oversized walk in closet. Second floor has two bedrooms, 2 bathrooms and large game-media room combo. Spacious outdoor patio with sitting and dining area. Cozy fireplace on patio and plenty of room for a pool.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • # 1 in the country for job growth in 2017 (2.6% growth, 91,700 new jobs) (US Census, Forbes, 2017)

PRICE & RENT TRENDS

Zip Code: 76182

ZipNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320kPrice in $123k336k

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

Zip Code: 76182

ZipNIR 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
 

$675,000$825,000$750,000

PURCHASE PRICE

$3,042$3,718$3,380

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,380
EXPENSES Loan Payment -$2,767
Property Tax -$1,646
Property Insurance -$270
HOA -$50
Property Management Fees -$99
CASH FLOW
-$1,452

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.

$750,000

PROJECTED PRICE

$3,380

PROJECTED RENT

0.45%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 7.0%
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$500k$1.0M$1.5M$2.0M

PROJECTED ANNUAL CASH FLOW

11530-$25k-$20k-$15k-$10k-$5.0k$0.0

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$204,500

INVESTMENT

$204,500

Down Payment
$187,500
Rehab Estimate
$5,750
Closing Costs
$11,250

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,767

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $187,500
Loan Amount $562,500
See What Happens When You Reinvest Cash Flow

-0.17

YEARS SAVED

-$53

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,380

    LIST RENT
  • $0.8

    LIST RENT PER SQFT
  • $3,616

    COMP ESTIMATED VALUE
  • $0.86

    COMP AVG. RENT PER SQFT
Comps Range
$3,380
1$3,3802$3,750
$3,750
RENT COMPS ANALYSIS
  • 6444 Hawks Ridge Drive North Richland Hills, TX 1
    • 4 beds 5 baths ∙ 4,205 Sqft ∙ Built 2017 4 beds 5 baths ∙ 4,205 Sqft ∙ Built 2017
    • Rent
    • Rent Per SQFT
    •  
    • $3,380
    • $0.80
    •  
  • 7204 Everglade Drive North Richland Hills, TX 2
    • 5 beds 5 baths ∙ 4,363 Sqft ∙ Built 2015 5 beds 5 baths ∙ 4,363 Sqft ∙ Built 2015
    LEASED 09/24/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,750
    • $0.86
    •  
PROPERTY LISTING DETAILS
Jeannie Anderson
Compass Re Texas, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14479749
Last Updated: 12/05/2020
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