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6818 Crane Road North Richland Hills, TX 76182

4 Beds 4 Baths 3,041 sqft Built 1991

$500,000

List Price

$2,900

$2.7K - $3.2K

Rent Est.

PROPERTY INFO

February 04, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1991
  • Price/Sqft : $164.42
  • 4 Days on Market
  • MLS # : 14512823
  • Updated Date : 02/05/2021 at 15:43
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,041 sqft
  • Baths : 3 full , 1 half
Listing Agent

Keller Williams Realty

Listing Agent's Description

Your house hunting journey stops here. Welcome to 6818 Crane Rd. This beautiful custom home sits on just over half an acre in NRH and provides plenty of space for you and your family. You will be greeted by beautiful trees throughout the entire property and will also enjoy the stunning pool with a watefall feature and outdoor fire pit that sets this backyard apart from others! Beautiful hardwood stairs as you enter. Enjoy the master BD downstairs along with a huge master BA and half BA downstairs as well. 3 remaining BD upstairs and 2 full BA upstairs. Oversized detached 2 car garage with room next to it to park your RV! New paint and carpet (21') New water heaters. RV spot in back has 50 amp plug for RVs!

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
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
 

$450,000$550,000$500,000

PURCHASE PRICE

$2,610$3,190$2,900

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,900
EXPENSES Loan Payment -$1,737
Property Tax -$1,097
Property Insurance -$203
Property Management Fees -$99
CASH FLOW
-$236

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.

$500,000

PROJECTED PRICE

$2,900

PROJECTED RENT

0.58%

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$200k$400k$600k$800k$1.0M$1.2M$1.4M

PROJECTED ANNUAL CASH FLOW

11530-$10k-$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$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$138,250

INVESTMENT

$138,250

Down Payment
$125,000
Rehab Estimate
$5,750
Closing Costs
$7,500

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,737

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $125,000
Loan Amount $375,000
See What Happens When You Reinvest Cash Flow

2.08

YEARS SAVED

$7,179

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,900

    LIST RENT
  • $0.95

    LIST RENT PER SQFT
  • $2,909

    COMP ESTIMATED VALUE
  • $0.96

    COMP AVG. RENT PER SQFT
Comps Range
$2,850
1$2,8502$2,9003$2,9004$3,100
$3,100
RENT COMPS ANALYSIS
  • 6818 Crane Road North Richland Hills, TX 3
    • 4 beds 4 baths ∙ 3,041 Sqft ∙ Built 1991 4 beds 4 baths ∙ 3,041 Sqft ∙ Built 1991
    • Rent
    • Rent Per SQFT
    •  
    • $2,900
    • $0.95
    •  
  • 3125 Hurstview Drive Hurst, TX 1
    • 4 beds 3 baths ∙ 3,026 Sqft ∙ Built 1984 4 beds 3 baths ∙ 3,026 Sqft ∙ Built 1984
    LEASED 05/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,850
    • $0.94
    •  
  • 7149 Stone Villa Circle North Richland Hills, TX 2
    • 4 beds 4 baths ∙ 2,920 Sqft ∙ Built 2007 4 beds 4 baths ∙ 2,920 Sqft ∙ Built 2007
    LEASED 12/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,900
    • $0.99
    •  
  • 713 Paul Drive Hurst, TX 4
    • 5 beds 4 baths ∙ 3,315 Sqft ∙ Built 1988 5 beds 4 baths ∙ 3,315 Sqft ∙ Built 1988
    LEASED 05/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,100
    • $0.94
    •  
PROPERTY LISTING DETAILS
Russell Strong
Keller Williams Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14512823
Last Updated: 02/05/2021
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