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6825 Chase Street North Richland Hills, TX 76182

4 Beds 3 Baths 3,243 sqft Built 2014

INVESTimate

$449,500

List Price

$2,880

$2,630 - $3,130

Rent Est.

$480,830  ( +6.97%)   1 YR EST. FORECAST

PROPERTY INFO

August 23, 2020 RECENTLY ADDED
FACTS
  • Built In 2014
  • Price/Sqft : $138.61
  • 5 Days on Market
  • MLS # : 14417774
  • Updated Date : 08/24/2020 at 11:40
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,243 sqft
  • Baths : 3 full
Listing Agent

Jp And Associates Realtors

Listing Agent's Description

Custom Built by Innovation Homes - This Beautiful Home centrally located in NRH has beautiful vaulted ceilings, True Hand-scrapped Hardwood floors, Crown moldings throughout, Gourmet Kitchen with built-ins & cabinets, mudroom & laundry off garage. Fantastic media-game room perfect for family fun, sports & movies. Oversized walk-in attic is great for extra storage space. Brick paved driveway & sidewalks (Front Yard & Landscape Maintained by HOA).This unique home and neighborhood is just blocks from neighborhood park with playground and walking-biking trail. Just minutes from TEXRail for a convenient commute to historic Grapevine, Downtown Fort Worth and DFW airport. Welcome Home!!

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

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
 

$404,550$494,450$449,500

PURCHASE PRICE

$2,592$3,168$2,880

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$1.4M

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$1.4M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,880
EXPENSES Loan Payment -$1,658
Property Tax -$986
Property Insurance -$215
HOA -$100
Property Management Fees -$99
CASH FLOW
-$178

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.

$449,500

PROJECTED PRICE

$2,880

PROJECTED RENT

0.64%

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$124,868

INVESTMENT

$124,868

Down Payment
$112,375
Rehab Estimate
$5,750
Closing Costs
$6,743

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,658

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $112,375
Loan Amount $337,125
See What Happens When You Reinvest Cash Flow

2.42

YEARS SAVED

$9,921

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,880

    LIST RENT
  • $0.89

    LIST RENT PER SQFT
  • $2,919

    COMP ESTIMATED VALUE
  • $0.9

    COMP AVG. RENT PER SQFT
Comps Range
$2,600
1$2,6002$2,7503$2,8804$2,8955$3,000
$3,000
RENT COMPS ANALYSIS
  • 6825 Chase Street North Richland Hills, TX 3
    • 4 beds 3 baths ∙ 3,243 Sqft ∙ Built 2014 4 beds 3 baths ∙ 3,243 Sqft ∙ Built 2014
    • Rent
    • Rent Per SQFT
    •  
    • $2,880
    • $0.89
    •  
  • 7201 W Nirvana Circle North Richland Hills, TX 1
    • 4 beds 4 baths ∙ 3,000 Sqft ∙ Built 2017 4 beds 4 baths ∙ 3,000 Sqft ∙ Built 2017
    LEASED 04/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $0.87
    •  
  • 8501 Newman Drive North Richland Hills, TX 2
    • 3 beds 3 baths ∙ 3,078 Sqft ∙ Built 2003 3 beds 3 baths ∙ 3,078 Sqft ∙ Built 2003
    LEASED 06/17/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,750
    • $0.89
    •  
  • 6209 Winter Park Drive North Richland Hills, TX 4
    • 4 beds 3 baths ∙ 3,261 Sqft ∙ Built 2006 4 beds 3 baths ∙ 3,261 Sqft ∙ Built 2006
    LEASED 03/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,895
    • $0.89
    •  
  • 7117 Stone Villa Circle North Richland Hills, TX 5
    • 3 beds 3 baths ∙ 3,148 Sqft ∙ Built 2013 3 beds 3 baths ∙ 3,148 Sqft ∙ Built 2013
    LEASED 07/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $0.95
    •  
PROPERTY LISTING DETAILS
Colby Snow
Jp And Associates Realtors
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14417774
Last Updated: 08/24/2020
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