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6833 Old Mill Road North Richland Hills, TX 76182

3 Beds 2 Baths 1,825 sqft Built 1987

INVESTimate

$285,000

List Price

$1,700

$1,530 - $1,870

Rent Est.

$315,666  ( +10.76%)   1 YR EST. FORECAST

PROPERTY INFO

August 22, 2020 RECENTLY ADDED
FACTS
  • Built In 1987
  • Price/Sqft : $156.16
  • 5 Days on Market
  • MLS # : 14418518
  • Updated Date : 08/25/2020 at 13:17
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,825 sqft
  • Baths : 2 full
Listing Agent

Bre Realty, Llc

Listing Agent's Description

Move in ready beauty in fantastic neighborhood. Fresh paint in and Out. Granite in Kitchen, and baths. Spacious bright open Living and formal dining offers vaulted ceilings, natural light and fireplace. Eat in Kitchen has lots of counter space and breakfast bar. overlooks back covered patio. Wonderful bedroom suite with spa like bathroom, walk in closest, double sinks and separate shower. Other generous sized bedrooms are split away. Convenient location and ready for you today!! Agents and Buyers to verify dimensions, sq ft & ISD info

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: Foster Village

NeighborhoodNIR Market*CityMarket2010Year20002019100k110k120k130k140k150k160k170k180k190k200k210k220k230k240kPrice in $99k244k

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

Neighborhood: Foster Village

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700Rent in $9051786

* 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
Green Valley Elementary School Primary Regular 491 30 10
North Ridge Middle School Middle Regular 800 52 8
North Ridge Middle School High Regular 800 52 8

Green Valley Elementary School

  • Education Level: Primary
  • # of students: 491
  • # of teachers: 30
10
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
 

$256,500$313,500$285,000

PURCHASE PRICE

$1,530$1,870$1,700

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,700
EXPENSES Loan Payment -$1,052
Property Tax -$625
Property Insurance -$133
Property Management Fees -$99
CASH FLOW
-$209

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.

$285,000

PROJECTED PRICE

$1,700

PROJECTED RENT

0.60%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 10.76%
Maintenance Year (1-5) 8.00%
Vacancy 6.39%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$81,275

INVESTMENT

$81,275

Down Payment
$71,250
Rehab Estimate
$5,750
Closing Costs
$4,275

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$1,052

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $71,250
Loan Amount $213,750
See What Happens When You Reinvest Cash Flow

1.42

YEARS SAVED

$2,631

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,700

    LIST RENT
  • $0.93

    LIST RENT PER SQFT
  • $1,839

    COMP ESTIMATED VALUE
  • $1.01

    COMP AVG. RENT PER SQFT
Comps Range
$1,675
1$1,6752$1,7003$1,7504$1,7505$1,795
$1,795
RENT COMPS ANALYSIS
  • 6833 Old Mill Road North Richland Hills, TX 2
    • 3 beds 2 baths ∙ 1,825 Sqft ∙ Built 1987 3 beds 2 baths ∙ 1,825 Sqft ∙ Built 1987
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.93
    •  
  • 2135 Ridgecliff Drive Keller, TX 1
    • 3 beds 2 baths ∙ 1,636 Sqft ∙ Built 1994 3 beds 2 baths ∙ 1,636 Sqft ∙ Built 1994
    property image
    LEASED 06/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,675
    • $1.02
    •  
  • 7828 Pebblebrook Drive Watauga, TX 3
    • 3 beds 2 baths ∙ 1,776 Sqft ∙ Built 1981 3 beds 2 baths ∙ 1,776 Sqft ∙ Built 1981
    property image
    LEASED 08/25/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.99
    •  
  • 7124 Windhaven Road North Richland Hills, TX 4
    • 3 beds 2 baths ∙ 1,674 Sqft ∙ Built 1988 3 beds 2 baths ∙ 1,674 Sqft ∙ Built 1988
    property image
    LEASED 04/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $1.05
    •  
  • 7655 Cypress Court North Richland Hills, TX 5
    • 4 beds 2 baths ∙ 1,848 Sqft ∙ Built 1996 4 beds 2 baths ∙ 1,848 Sqft ∙ Built 1996
    property image
    LEASED 11/07/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.97
    •  
PROPERTY LISTING DETAILS
Georgia Garrett
Bre Realty, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14418518
Last Updated: 08/25/2020
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