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6816 Switchback Trail North Richland Hills, TX 76182

4 Beds 3 Baths 2,338 sqft Built 2020

$460,000

List Price

$1,980

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
December 26, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2020
  • Price/Sqft : $196.75
  • 2 Days on Market
  • MLS # : 14490253
  • Updated Date : 12/26/2020 at 10:20
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,338 sqft
  • Baths : 3 full
Listing Agent

Century 21 Judge Fite Co.

Listing Agent's Description

Brand new one-story open-plan home perfectly situated between Dallas and Fort Worth. This brick and stone exterior home features an upscale kitchen with an open kitchen-family-breakfast area; formal study; private guest suite; and a private master suite with double-door entry and his-her vanities, soaker tub, separate shower, and an expansive walk-in closet. The family room is spacious and bright with tall windows and a 36” direct vent gas fireplace built into a white brick floor-to-ceiling fireplace complete with a quaint hearth for cozy evenings gathered with family and friends. Backyard covered patio with gas drop leads out to a spacious 10,000 sq.ft. lot FULL DESCRIPTION IN TRANSACTION DESK

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: Lake Crest Estates

NeighborhoodNIR Market*CityMarket2010Year20002019100k110k120k130k140k150k160k170k180k190k200k210k220k230k240kPrice in $97k244k

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

Neighborhood: Lake Crest Estates

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21100120013001400150016001700Rent in $10271786

* 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
Elkins Elementary School Primary Regular 603 39 7
Creekview Middle School Middle Regular 801 47 7
Boswell High School High Regular 1,605 106 7

Elkins Elementary School

  • Education Level: Primary
  • # of students: 603
  • # of teachers: 39
7
GreatSchools Rating

Creekview Middle School

  • Education Level: Middle
  • # of students: 801
  • # of teachers: 47
7
GreatSchools Rating

Boswell High School

  • Education Level: High
  • # of students: 1,605
  • # of teachers: 106
7
GreatSchools Rating
 

$414,000$506,000$460,000

PURCHASE PRICE

$1,782$2,178$1,980

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,980
EXPENSES Loan Payment -$1,697
Property Tax -$1,009
Property Insurance -$162
HOA -$108
Property Management Fees -$99
CASH FLOW
-$1,096

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 9% of earned rent to cover both maintenance and periods of vacancy.

$460,000

PROJECTED PRICE

$1,980

PROJECTED RENT

0.43%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 7.0%
Maintenance Year (1-5) 3.00%
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$1.2M$1.4M

PROJECTED ANNUAL CASH FLOW

11530-$18k-$16k-$14k-$12k-$10k-$8.0k-$6.0k-$4.0k-$2.0k$0.0

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$123,900

INVESTMENT

$123,900

Down Payment
$115,000
Rehab Estimate
$2,000
Closing Costs
$6,900

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,697

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $115,000
Loan Amount $345,000
See What Happens When You Reinvest Cash Flow

-0.33

YEARS SAVED

$50

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,980

    LIST RENT
  • $0.85

    LIST RENT PER SQFT
  • $1,958

    COMP ESTIMATED VALUE
  • $0.84

    COMP AVG. RENT PER SQFT
Comps Range
$1,750
1$1,7502$1,7953$1,9804$1,9955$2,200
$2,200
RENT COMPS ANALYSIS
  • 6816 Switchback Trail North Richland Hills, TX 3
    • 4 beds 3 baths ∙ 2,338 Sqft ∙ Built 2020 4 beds 3 baths ∙ 2,338 Sqft ∙ Built 2020
    • Rent
    • Rent Per SQFT
    •  
    • $1,980
    • $0.85
    •  
  • 6164 Texas Shiner Drive Fort Worth, TX 1
    • 3 beds 2 baths ∙ 2,347 Sqft ∙ Built 2007 3 beds 2 baths ∙ 2,347 Sqft ∙ Built 2007
    LEASED 02/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.75
    •  
  • 6300 Jasper Lake Drive Fort Worth, TX 2
    • 4 beds 3 baths ∙ 2,312 Sqft ∙ Built 2018 4 beds 3 baths ∙ 2,312 Sqft ∙ Built 2018
    LEASED 01/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.78
    •  
  • 6233 Verdon Gorge Drive Fort Worth, TX 4
    • 4 beds 3 baths ∙ 2,297 Sqft ∙ Built 2018 4 beds 3 baths ∙ 2,297 Sqft ∙ Built 2018
    LEASED 08/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.87
    •  
  • 6021 Walleye Drive Fort Worth, TX 5
    • 4 beds 3 baths ∙ 2,309 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,309 Sqft ∙ Built 2006
    LEASED 07/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.95
    •  
PROPERTY LISTING DETAILS
Robin Russell
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 #: 14490253
Last Updated: 12/26/2020
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