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6976 Finch Drive North Richland Hills, TX 76182

3 Beds 3 Baths 2,165 sqft Built 2013

$374,500

List Price

$2,200

$2K - $2.4K

Rent Est.

PROPERTY INFO

November 12, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2013
  • Price/Sqft : $172.98
  • 4 Days on Market
  • MLS # : 14467879
  • Updated Date : 11/13/2020 at 19:36
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,165 sqft
  • Baths : 3 full
Listing Agent

Allie Beth Allman & Associates

Listing Agent's Description

Beautiful 1 story full of upgrades! Island kitchen w-statement lights & granite countertops. Open concept living room w- stone fireplace & window wall view of the patio & pool. BIG yard featuring custom Gunite salt-water pool w-diving rock & tanning ledge. Large owner’s suite w-deluxe bath w-granite, TV, dual shower head,large WIC w-built ins. Bedrooms 3-way split w-ensuite baths. Scraped hardwood floors throughout w-ceramic tile in laundry (w-sink) & bathrooms. Office features french doors & custom wall unit installed by California Closet offering optimal storage! Gorgeous landscaping w-lots of perennials! Custom mosquito netting zips to control pests & opens to maximize entertaining space. Fantastic location!

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
 

$337,050$411,950$374,500

PURCHASE PRICE

$1,980$2,420$2,200

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,200
EXPENSES Loan Payment -$1,382
Property Tax -$822
Property Insurance -$152
HOA -$60
Property Management Fees -$99
CASH FLOW
-$315

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.

$374,500

PROJECTED PRICE

$2,200

PROJECTED RENT

0.59%

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$104,993

INVESTMENT

$104,993

Down Payment
$93,625
Rehab Estimate
$5,750
Closing Costs
$5,618

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,382

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $93,625
Loan Amount $280,875
See What Happens When You Reinvest Cash Flow

1

YEARS SAVED

$2,002

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,200

    LIST RENT
  • $1.02

    LIST RENT PER SQFT
  • $2,068

    COMP ESTIMATED VALUE
  • $0.96

    COMP AVG. RENT PER SQFT
Comps Range
$1,700
1$1,7002$1,7953$1,9504$2,0005$2,200
$2,200
RENT COMPS ANALYSIS
  • 6976 Finch Drive North Richland Hills, TX 5
    • 3 beds 3 baths ∙ 2,165 Sqft ∙ Built 2013 3 beds 3 baths ∙ 2,165 Sqft ∙ Built 2013
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $1.02
    •  
  • 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
    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
    LEASED 11/07/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.97
    •  
  • 7340 Cottonwood Court North Richland Hills, TX 3
    • 4 beds 2 baths ∙ 1,995 Sqft ∙ Built 1996 4 beds 2 baths ∙ 1,995 Sqft ∙ Built 1996
    LEASED 09/12/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.98
    •  
  • 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
    LEASED 05/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.93
    •  
PROPERTY LISTING DETAILS
Nanette Ecklund-luker
Allie Beth Allman & Associates
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14467879
Last Updated: 11/13/2020
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