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6805 Swallow Lane North Richland Hills, TX 76182

4 Beds 4 Baths 3,515 sqft Built 2012

INVESTimate

$405,000

List Price

$2,650

$2,400 - $2,900

Rent Est.

$433,229  ( +6.97%)   1 YR EST. FORECAST

PROPERTY INFO

FACTS
  • Built In 2012
  • Price/Sqft : $115.22
  • 9 Days on Market
  • MLS # : 14416146
  • Updated Date : 08/20/2020 at 10:34
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,515 sqft
  • Baths : 3 full , 1 half
Listing Agent

Ready Real Estate Llc

Listing Agent's Description

Beautiful one owner home. Well maintained. Spacious and cozy! Huge living area with gas starting fireplace. Kitchen has granite countertops, stainless steal appliances, breakfast nook with window seating. Flex area that can be for a dining room or pool table. Huge master suite with bay windows, perfect for a chase or other furniture, master bath with garden tub, separate showers, separate vanities, his and hers closet. Jack and Jill bath to two bedrooms. Huge media room. Upstairs loft currently serving as a second living room. Covered patio with spacious backyard. Comes with a 10 year foundation warranty (2 years remaining). HOA mows front lawn. Backyard can be mowed for additional cost.

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

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
Foster Village Elementary School Primary Regular 545 33 7
North Ridge Middle School Middle Regular 800 52 8
North Ridge Middle School High Regular 800 52 8

Foster Village Elementary School

  • Education Level: Primary
  • # of students: 545
  • # of teachers: 33
7
GreatSchools Rating

North Ridge Middle School

  • Education Level: Middle
  • # of students: 800
  • # of teachers: 52
8
GreatSchools Rating

North Ridge Middle School

  • Education Level: High
  • # of students: 800
  • # of teachers: 52
8
GreatSchools Rating
 

$364,500$445,500$405,000

PURCHASE PRICE

$2,385$2,915$2,650

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

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,650
EXPENSES Loan Payment -$1,494
Property Tax -$889
Property Insurance -$230
HOA -$67
Property Management Fees -$99
CASH FLOW
-$129

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.

$405,000

PROJECTED PRICE

$2,650

PROJECTED RENT

0.65%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 6.97%
Maintenance Year (1-5) 8.00%
Vacancy 6.93%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$113,075

INVESTMENT

$113,075

Down Payment
$101,250
Rehab Estimate
$5,750
Closing Costs
$6,075

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,494

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $101,250
Loan Amount $303,750
See What Happens When You Reinvest Cash Flow

2.75

YEARS SAVED

$10,974

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,650

    LIST RENT
  • $0.75

    LIST RENT PER SQFT
  • $2,812

    COMP ESTIMATED VALUE
  • $0.8

    COMP AVG. RENT PER SQFT
Comps Range
$2,650
1$2,6502$2,7503$2,9004$2,950
$2,950
RENT COMPS ANALYSIS
  • 6805 Swallow Lane North Richland Hills, TX 1
    • 4 beds 4 baths ∙ 3,515 Sqft ∙ Built 2012 4 beds 4 baths ∙ 3,515 Sqft ∙ Built 2012
    • Rent
    • Rent Per SQFT
    •  
    • $2,650
    • $0.75
    •  
  • 1612 Highland Oaks Drive Keller, TX 2
    • 5 beds 4 baths ∙ 3,281 Sqft ∙ Built 1998 5 beds 4 baths ∙ 3,281 Sqft ∙ Built 1998
    LEASED 01/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,750
    • $0.84
    •  
  • 6828 Swallow Lane North Richland Hills, TX 3
    • 4 beds 4 baths ∙ 3,715 Sqft ∙ Built 2013 4 beds 4 baths ∙ 3,715 Sqft ∙ Built 2013
    LEASED 07/25/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,900
    • $0.78
    •  
  • 7108 Four Sixes Ranch Road North Richland Hills, TX 4
    • 4 beds 4 baths ∙ 3,786 Sqft ∙ Built 2012 4 beds 4 baths ∙ 3,786 Sqft ∙ Built 2012
    LEASED 07/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,950
    • $0.78
    •  
PROPERTY LISTING DETAILS
Lindsay Halter
Ready Real Estate Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14416146
Last Updated: 08/20/2020
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