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6725 Riviera Drive North Richland Hills, TX 76180

3 Beds 2 Baths 1,660 sqft Built 1983

$219,000

List Price

$1,640

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

December 18, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1983
  • Price/Sqft : $131.93
  • 3 Days on Market
  • MLS # : 14488398
  • Updated Date : 12/18/2020 at 19:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,660 sqft
  • Baths : 2 full
Listing Agent

Century 21 Judge Fite Co.

Listing Agent's Description

Great opportunity to buy a well maintained home that has awesome potential for those buyers willing to put some sweat equity into their home! All bones of this house appear to be in fantastic condition, much of popcorn ceiling has been scraped and retextured, can lights, newer carpet, tray ceilings, mature landscaping, WB fireplace, and backyard storage building. Great sized master suite with garden tub, his and her closets, dual sinks, and a skylight. Guest bathroom is spotless. Fresh paint, updated flooring, new appliances, and countertops would make a world of difference in this gem. Don't miss this house if you're searching for that cosmetic fixer upper! All items in home are highly negotiable as well.

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: Skyline Homes

NeighborhoodNIR Market*CityMarket2010Year20002019110k120k130k140k150k160k170k180k190k200k210k220k230k240kPrice in $104k243k

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

Neighborhood: Skyline Homes

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700Rent in $9191734

* 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
 

$197,100$240,900$219,000

PURCHASE PRICE

$1,476$1,804$1,640

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,640
EXPENSES Loan Payment -$808
Property Tax -$502
Property Insurance -$123
Property Management Fees -$99
CASH FLOW
$108

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.

$219,000

PROJECTED PRICE

$1,640

PROJECTED RENT

0.75%

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$100k$200k$300k$400k$500k$600k$700k$800k

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k

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$63,785

INVESTMENT

$63,785

Down Payment
$54,750
Rehab Estimate
$5,750
Closing Costs
$3,285

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$808

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $54,750
Loan Amount $164,250
See What Happens When You Reinvest Cash Flow

7

YEARS SAVED

$21,529

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,640

    LIST RENT
  • $0.99

    LIST RENT PER SQFT
  • $1,639

    COMP ESTIMATED VALUE
  • $0.99

    COMP AVG. RENT PER SQFT
Comps Range
$1,600
1$1,6002$1,6253$1,6404$1,6705$1,675
$1,675
RENT COMPS ANALYSIS
  • 6725 Riviera Drive Fort Worth, TX 3
    • 3 beds 2 baths ∙ 1,660 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,660 Sqft ∙ Built 1983
    • Rent
    • Rent Per SQFT
    •  
    • $1,640
    • $0.99
    •  
  • 6713 Riviera Drive North Richland Hills, TX 1
    • 3 beds 2 baths ∙ 1,693 Sqft ∙ Built 1984 3 beds 2 baths ∙ 1,693 Sqft ∙ Built 1984
    LEASED 02/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.95
    •  
  • 7120 Meadow Park North Richland Hills, TX 2
    • 3 beds 2 baths ∙ 1,605 Sqft ∙ Built 1979 3 beds 2 baths ∙ 1,605 Sqft ∙ Built 1979
    LEASED 12/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,625
    • $1.01
    •  
  • 5517 Meadow Oak Street North Richland Hills, TX 4
    • 3 beds 2 baths ∙ 1,647 Sqft ∙ Built 1979 3 beds 2 baths ∙ 1,647 Sqft ∙ Built 1979
    LEASED 09/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,670
    • $1.01
    •  
  • 5505 Meadow Oak Street North Richland Hills, TX 5
    • 3 beds 2 baths ∙ 1,717 Sqft ∙ Built 1979 3 beds 2 baths ∙ 1,717 Sqft ∙ Built 1979
    LEASED 08/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,675
    • $0.98
    •  
PROPERTY LISTING DETAILS
Landen Miller
Century 21 Judge Fite Co.
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14488398
Last Updated: 12/18/2020
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