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6884 Hickory Hollow Lane North Richland Hills, TX 76182

4 Beds 2 Baths 2,491 sqft Built 1988

$280,000

List Price

$2,220

$2K - $2.4K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 19, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1988
  • Price/Sqft : $112.40
  • 3 Days on Market
  • MLS # : 14536668
  • Updated Date : 03/19/2021 at 19:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,491 sqft
  • Baths : 2 full
Listing Agent

Pyron Team Realty

Listing Agent's Description

This wonderful home, in need of a little cosmetic updating, is a hidden gem in Forster Village. Featuring 4 split bedrooms with the oversized & private master suite upstairs with jetted tub, separate shower& dbl sinks, along with secondary bedroom, two additional bedrooms down with a safe room in one of the closets. Inviting formal dining with french doors leading into large island kitchen & cozy breakfast nook. Formal living features a wet-bar & wood burning fireplace that is see-through into the family room. Large backyard is the perfect place for relaxing & entertaining with abundant space for kids & pets to run and play. Home offers 2 HVAC Systems, hardwoods, built-ins, skylights & much more!

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

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
North Ridge Elementary School Primary Regular 528 36 8
Richland High School High Regular 2,137 135 7
Richland High School High Unknown NA

North Ridge Elementary School

  • Education Level: Primary
  • # of students: 528
  • # of teachers: 36
8
GreatSchools Rating

Richland High School

  • Education Level: High
  • # of students: 2,137
  • # of teachers: 135
7
GreatSchools Rating

Richland High School

  • Education Level: High
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$252,000$308,000$280,000

PURCHASE PRICE

$1,998$2,442$2,220

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,220
EXPENSES Loan Payment -$973
Property Tax -$643
Property Insurance -$171
Property Management Fees -$99
CASH FLOW
$334

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.

$280,000

PROJECTED PRICE

$2,220

PROJECTED RENT

0.79%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 10.8%
Maintenance Year (1-5) 8.00%
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

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$79,950

INVESTMENT

$79,950

Down Payment
$70,000
Rehab Estimate
$5,750
Closing Costs
$4,200

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$973

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $70,000
Loan Amount $210,000
See What Happens When You Reinvest Cash Flow

10.25

YEARS SAVED

$41,399

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,220

    LIST RENT
  • $0.89

    LIST RENT PER SQFT
  • $2,423

    COMP ESTIMATED VALUE
  • $0.97

    COMP AVG. RENT PER SQFT
Comps Range
$2,000
1$2,0002$2,2203$2,2454$2,6505$2,650
$2,650
RENT COMPS ANALYSIS
  • 6884 Hickory Hollow Lane North Richland Hills, TX 2
    • 4 beds 2 baths ∙ 2,491 Sqft ∙ Built 1988 4 beds 2 baths ∙ 2,491 Sqft ∙ Built 1988
    • Rent
    • Rent Per SQFT
    •  
    • $2,220
    • $0.89
    •  
  • 6864 Dogwood Court North Richland Hills, TX 1
    • 4 beds 3 baths ∙ 2,344 Sqft ∙ Built 1987 4 beds 3 baths ∙ 2,344 Sqft ∙ Built 1987
    LEASED 03/18/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.85
    •  
  • 1520 Sweetgum Circle Keller, TX 3
    • 4 beds 3 baths ∙ 2,293 Sqft ∙ Built 1991 4 beds 3 baths ∙ 2,293 Sqft ∙ Built 1991
    LEASED 08/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,245
    • $0.98
    •  
  • 6740 Dogwood Lane North Richland Hills, TX 4
    • 4 beds 3 baths ∙ 2,553 Sqft ∙ Built 1990 4 beds 3 baths ∙ 2,553 Sqft ∙ Built 1990
    LEASED 01/15/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,650
    • $1.04
    •  
  • 7917 Londonderry Drive North Richland Hills, TX 5
    • 4 beds 3 baths ∙ 2,600 Sqft ∙ Built 1983 4 beds 3 baths ∙ 2,600 Sqft ∙ Built 1983
    LEASED 03/15/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,650
    • $1.02
    •  
PROPERTY LISTING DETAILS
Spalding Pyron
Pyron Team Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14536668
Last Updated: 03/19/2021
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