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

704 Parkland Court Hurst, TX 76053

3 Beds 3 Baths 1,739 sqft Built 1989

$340,000

List Price

$1,740

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 25, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1989
  • Price/Sqft : $195.51
  • 4 Days on Market
  • MLS # : 14540488
  • Updated Date : 03/25/2021 at 16:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,739 sqft
  • Baths : 2 full , 1 half
Listing Agent

Opendoor Brokerage, Llc

Listing Agent's Description

This Hurst two-story cul-de-sac home offers a two-car garage. Home utilities may be turned off due to weather conditions.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • . 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)

PRICE & RENT TRENDS

Neighborhood: Village at Park Forest

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260kPrice in $88k265k

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

Neighborhood: Village at Park Forest

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700Rent in $9451736

* 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
L D. Bell High School High Regular 2,145 125 6
L D. Bell High School High Unknown NA

L D. Bell High School

  • Education Level: High
  • # of students: 2,145
  • # of teachers: 125
6
GreatSchools Rating

L D. Bell High School

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

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

PURCHASE PRICE

$1,566$1,914$1,740

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,740
EXPENSES Loan Payment -$1,181
Property Tax -$693
Property Insurance -$128
Property Management Fees -$99
CASH FLOW
-$361

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

$1,740

PROJECTED RENT

0.51%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.74%
Appreciation Year (1-5) 10.1%
Maintenance Year (1-5) 8.00%
Vacancy 6.69%
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

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$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 75% down payment or higher enables the proceeds from the asset to cover all costs.

$1,181

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $85,000
Loan Amount $255,000
See What Happens When You Reinvest Cash Flow

0.33

YEARS SAVED

$315

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,740

    LIST RENT
  • $1

    LIST RENT PER SQFT
  • $1,739

    COMP ESTIMATED VALUE
  • $1

    COMP AVG. RENT PER SQFT
Comps Range
$1,595
1$1,5952$1,6953$1,6954$1,7405$1,750
$1,750
RENT COMPS ANALYSIS
  • 704 Parkland Court Hurst, TX 4
    • 3 beds 3 baths ∙ 1,739 Sqft ∙ Built 1989 3 beds 3 baths ∙ 1,739 Sqft ∙ Built 1989
    • Rent
    • Rent Per SQFT
    •  
    • $1,740
    • $1.00
    •  
  • 317 Grace Circle Hurst, TX 1
    • 3 beds 2 baths ∙ 1,660 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,660 Sqft ∙ Built 2006
    LEASED 07/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.96
    •  
  • 348 Parkview Drive Hurst, TX 2
    • 3 beds 2 baths ∙ 1,622 Sqft ∙ Built 1991 3 beds 2 baths ∙ 1,622 Sqft ∙ Built 1991
    LEASED 04/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $1.05
    •  
  • 304 Parkview Drive Hurst, TX 3
    • 3 beds 2 baths ∙ 1,664 Sqft ∙ Built 1993 3 beds 2 baths ∙ 1,664 Sqft ∙ Built 1993
    LEASED 10/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $1.02
    •  
  • 10316 Lake Terrace Fort Worth, TX 5
    • 3 beds 2 baths ∙ 1,811 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,811 Sqft ∙ Built 2002
    LEASED 05/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.97
    •  
PROPERTY LISTING DETAILS
Feras Rachid
Opendoor Brokerage, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14540488
Last Updated: 03/25/2021
BESbswy