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7000 Herman Jared Drive North Richland Hills, TX 76182

4 Beds 3 Baths 2,828 sqft Built 1999

$424,900

List Price

$2,450

$2.2K - $2.7K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 14, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1999
  • Price/Sqft : $150.25
  • 8 Days on Market
  • MLS # : 14518440
  • Updated Date : 02/16/2021 at 14:32
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,828 sqft
  • Baths : 2 full , 1 half
Listing Agent

Exp Realty Llc

Listing Agent's Description

This house will not last long. It is perfect for a large family. It boasts a large welcoming entry leading into the spacious open floor plan. Downstairs features custom lighting. The master offers a beautiful bay window, and a huge soaker tub in the ensuite. The office is a plus with french doors for privacy. Upstairs offers a large living or game room along with 3 bedrooms. Step outside the kitchen to a beautiful outdoor oasis with a custom pavestone patio. The large back yard offers privacy with a beautiful 8' privacy fence. Property also has an 8x12 Tuff shed in the back yard with electricty.

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: Stoney Ridge

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320kPrice in $123k336k

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

Neighborhood: Stoney Ridge

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2110012001300140015001600170018001900200021002200Rent in $10412217

* 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
Smithfield Elementary School Primary Regular 437 30 9
Smithfield Middle School Middle Regular 818 49 10
Birdville High School High Regular 2,083 125 7

Smithfield Elementary School

  • Education Level: Primary
  • # of students: 437
  • # of teachers: 30
9
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
 

$382,410$467,390$424,900

PURCHASE PRICE

$2,205$2,695$2,450

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,450
EXPENSES Loan Payment -$1,476
Property Tax -$932
Property Insurance -$191
Property Management Fees -$99
CASH FLOW
-$248

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.

$424,900

PROJECTED PRICE

$2,450

PROJECTED RENT

0.58%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 5.0%
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$1.2M

PROJECTED ANNUAL CASH FLOW

11530-$8.0k-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$118,349

INVESTMENT

$118,349

Down Payment
$106,225
Rehab Estimate
$5,750
Closing Costs
$6,374

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,476

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $106,225
Loan Amount $318,675
See What Happens When You Reinvest Cash Flow

1.58

YEARS SAVED

$4,065

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,450

    LIST RENT
  • $0.87

    LIST RENT PER SQFT
  • $2,616

    COMP ESTIMATED VALUE
  • $0.92

    COMP AVG. RENT PER SQFT
Comps Range
$2,450
1$2,4502$2,5503$2,6004$2,8505$2,900
$2,900
RENT COMPS ANALYSIS
  • 7000 Herman Jared Drive North Richland Hills, TX 1
    • 4 beds 3 baths ∙ 2,828 Sqft ∙ Built 1999 4 beds 3 baths ∙ 2,828 Sqft ∙ Built 1999
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $0.87
    •  
  • 8966 Hialeah Circle North Richland Hills, TX 2
    • 3 beds 2 baths ∙ 2,830 Sqft ∙ Built 1984 3 beds 2 baths ∙ 2,830 Sqft ∙ Built 1984
    property image
    LEASED 11/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,550
    • $0.90
    •  
  • 7201 W Nirvana Circle North Richland Hills, TX 3
    • 4 beds 4 baths ∙ 3,000 Sqft ∙ Built 2017 4 beds 4 baths ∙ 3,000 Sqft ∙ Built 2017
    property image
    LEASED 04/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $0.87
    •  
  • 3125 Hurstview Drive Hurst, TX 4
    • 4 beds 3 baths ∙ 3,026 Sqft ∙ Built 1984 4 beds 3 baths ∙ 3,026 Sqft ∙ Built 1984
    property image
    LEASED 10/02/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,850
    • $0.94
    •  
  • 7149 Stone Villa Circle North Richland Hills, TX 5
    • 4 beds 4 baths ∙ 2,920 Sqft ∙ Built 2007 4 beds 4 baths ∙ 2,920 Sqft ∙ Built 2007
    property image
    LEASED 12/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,900
    • $0.99
    •  
PROPERTY LISTING DETAILS
Kim Wilkshire
Exp Realty Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14518440
Last Updated: 02/16/2021
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