Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

6960 Warbler Lane North Richland Hills, TX 76182

4 Beds 2 Baths 2,091 sqft Built 2013

$340,000

List Price

$2,040

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

October 30, 2020 RECENTLY ADDED
FACTS
  • Built In 2013
  • Price/Sqft : $162.60
  • 5 Days on Market
  • MLS # : 14460919
  • Updated Date : 10/30/2020 at 17:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,091 sqft
  • Baths : 2 full
Listing Agent

Magnolia Realty Argyle

Listing Agent's Description

Welcome home to this sweet single-story stunner. Nestled just minutes away from all the essentials, schools, shopping, restaurants, highways, & more! You're guided into this spacious floor plan by vaulted ceilings & luxury wood floors. The dreamy kitchen with all SS appliances & a gas cooktop overlooks your oversized living room. The great room is perfect for spending the upcoming cold evenings listening to the soft crackling of the fire & sipping hot cocoa while watching movies with loved ones. Master suite filled with everything you need for relaxing after spending your afternoons out enjoying the community amenities. Don’t miss the opportunity to settle into this well-knit neighborhood, book a showing today!

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
Foster Village Elementary School Primary Regular 545 33 7
North Ridge Middle School Middle Regular 800 52 8
North Ridge Middle School High Regular 800 52 8

Foster Village Elementary School

  • Education Level: Primary
  • # of students: 545
  • # of teachers: 33
7
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
 

$306,000$374,000$340,000

PURCHASE PRICE

$1,836$2,244$2,040

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,040
EXPENSES Loan Payment -$1,254
Property Tax -$746
Property Insurance -$148
HOA -$67
Property Management Fees -$99
CASH FLOW
-$274

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.

$340,000

PROJECTED PRICE

$2,040

PROJECTED RENT

0.60%

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

PROJECTED ANNUAL CASH FLOW

11530-$8.0k-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$95,850

INVESTMENT

$95,850

Down Payment
$85,000
Rehab Estimate
$5,750
Closing Costs
$5,100

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,254

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $85,000
Loan Amount $255,000
See What Happens When You Reinvest Cash Flow

1.17

YEARS SAVED

$2,085

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,040

    LIST RENT
  • $0.98

    LIST RENT PER SQFT
  • $2,007

    COMP ESTIMATED VALUE
  • $0.96

    COMP AVG. RENT PER SQFT
Comps Range
$1,700
1$1,7002$1,7953$1,8004$2,0005$2,040
$2,040
RENT COMPS ANALYSIS
  • 6960 Warbler Lane North Richland Hills, TX 5
    • 4 beds 2 baths ∙ 2,091 Sqft ∙ Built 2013 4 beds 2 baths ∙ 2,091 Sqft ∙ Built 2013
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,040
    • $0.98
    •  
  • 6852 Greenleaf Drive North Richland Hills, TX 1
    • 3 beds 2 baths ∙ 1,816 Sqft ∙ Built 1993 3 beds 2 baths ∙ 1,816 Sqft ∙ Built 1993
    property image
    LEASED 08/20/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.94
    •  
  • 7655 Cypress Court North Richland Hills, TX 2
    • 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
    •  
  • 7416 Chapman Drive North Richland Hills, TX 3
    • 3 beds 2 baths ∙ 1,796 Sqft ∙ Built 1994 3 beds 2 baths ∙ 1,796 Sqft ∙ Built 1994
    property image
    LEASED 07/23/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $1.00
    •  
  • 6700 Dogwood Lane North Richland Hills, TX 4
    • 4 beds 2 baths ∙ 2,160 Sqft ∙ Built 1995 4 beds 2 baths ∙ 2,160 Sqft ∙ Built 1995
    property image
    LEASED 05/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.93
    •  
PROPERTY LISTING DETAILS
Stephanie Browne
Magnolia Realty Argyle
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14460919
Last Updated: 10/30/2020
BESbswy