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6625 Pleasant Ridge Drive North Richland Hills, TX 76180

3 Beds 2 Baths 2,117 sqft Built 1984

$315,000

List Price

$1,730

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

November 12, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1984
  • Price/Sqft : $148.80
  • 4 Days on Market
  • MLS # : 14470079
  • Updated Date : 11/13/2020 at 20:04
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,117 sqft
  • Baths : 2 full
Listing Agent

Re/max Trinity

Listing Agent's Description

This stunning fully remodeled home won't last long! Great location Near Iron horse Golf Course with easy access to Hwy 820 & Denton Hwy. The kitchen boasts quartz counters, all new appliances, new dishwasher, & upgraded lighting. There is all new paint inside & out. There are 2 flex spaces that could be used as an office or game room. Quartz counters are in both bathrooms. The large master bathroom has all-new fixtures, a new shower, stand-alone tub, beautiful new tile & has a spa-like feel. New flooring throughout, new water heater, & the roof was replaced in Aug of 2020. This home has a rear entry with an electric gate. **multiple offers received. All offers due Sunday, Nov 15th by noon

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: Holiday Hills

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240kPrice in $104k252k

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

Neighborhood: Holiday Hills

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100011001200130014001500160017001800Rent in $9191812

* 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
Snow Heights Elementary School Primary Regular 431 25 7
North Richland Middle School Middle Regular 827 57 7
Richland High School High Regular 2,137 135 7

Snow Heights Elementary School

  • Education Level: Primary
  • # of students: 431
  • # of teachers: 25
7
GreatSchools Rating

North Richland Middle School

  • Education Level: Middle
  • # of students: 827
  • # of teachers: 57
7
GreatSchools Rating

Richland High School

  • Education Level: High
  • # of students: 2,137
  • # of teachers: 135
7
GreatSchools Rating
 

$283,500$346,500$315,000

PURCHASE PRICE

$1,557$1,903$1,730

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,730
EXPENSES Loan Payment -$1,162
Property Tax -$691
Property Insurance -$150
Property Management Fees -$99
CASH FLOW
-$372

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.

$315,000

PROJECTED PRICE

$1,730

PROJECTED RENT

0.55%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 8.3%
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

PROJECTED ANNUAL CASH FLOW

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

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$89,225

INVESTMENT

$89,225

Down Payment
$78,750
Rehab Estimate
$5,750
Closing Costs
$4,725

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 75% down payment or higher enables the proceeds from the asset to cover all costs.

$1,162

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $78,750
Loan Amount $236,250
See What Happens When You Reinvest Cash Flow

0.33

YEARS SAVED

$259

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,730

    LIST RENT
  • $0.82

    LIST RENT PER SQFT
  • $1,921

    COMP ESTIMATED VALUE
  • $0.91

    COMP AVG. RENT PER SQFT
Comps Range
$1,650
1$1,6502$1,7303$1,8004$1,8955$1,975
$1,975
RENT COMPS ANALYSIS
  • 6625 Pleasant Ridge Drive North Richland Hills, TX 2
    • 3 beds 2 baths ∙ 2,117 Sqft ∙ Built 1984 3 beds 2 baths ∙ 2,117 Sqft ∙ Built 1984
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,730
    • $0.82
    •  
  • 6717 Riviera Drive North Richland Hills, TX 1
    • 3 beds 2 baths ∙ 1,784 Sqft ∙ Built 1981 3 beds 2 baths ∙ 1,784 Sqft ∙ Built 1981
    property image
    LEASED 08/19/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.92
    •  
  • 6525 Victoria Avenue North Richland Hills, TX 3
    • 4 beds 2 baths ∙ 1,987 Sqft ∙ Built 1977 4 beds 2 baths ∙ 1,987 Sqft ∙ Built 1977
    property image
    LEASED 02/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.91
    •  
  • 4633 Hillside Drive North Richland Hills, TX 4
    • 3 beds 2 baths ∙ 2,004 Sqft ∙ Built 1984 3 beds 2 baths ∙ 2,004 Sqft ∙ Built 1984
    property image
    LEASED 12/10/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.95
    •  
  • 4917 Reynolds Road North Richland Hills, TX 5
    • 4 beds 2 baths ∙ 2,331 Sqft ∙ Built 1965 4 beds 2 baths ∙ 2,331 Sqft ∙ Built 1965
    property image
    LEASED 06/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,975
    • $0.85
    •  
PROPERTY LISTING DETAILS
Rachel Canafax
Re/max Trinity
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14470079
Last Updated: 11/13/2020
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