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7117 Woodhinge Drive Benbrook, TX 76126

3 Beds 3 Baths 2,116 sqft Built 1996

$275,000

List Price

$2,040

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

November 05, 2020 RECENTLY ADDED
FACTS
  • Built In 1996
  • Price/Sqft : $129.96
  • 4 Days on Market
  • MLS # : 14464794
  • Updated Date : 11/05/2020 at 19:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,116 sqft
  • Baths : 3 full
Listing Agent

Jp And Associates Willow Park

Listing Agent's Description

You won't want to miss this beautiful Benbrook home that offers 3 spacious bedrooms and 3 bathrooms, including a rare 2nd owner suites, each with ample closet space. Fresh paint and flooring as well as newly updated bathrooms, countertops in all baths and kitchen and a separate dining area that could be used as an office or a room for school work. Finally, you can retreat to the big flat backyard that includes a storage shed that is perfect for kids or pets to run around. This home is near the Rolling Hills Park, walking distance from the desirable Westpark Elementary School, and just minutes away from Benbrook High School and Whitestone Golf Club. Come see it 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

Neighborhood: Winchester

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400kPrice in $113k441k

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

Neighborhood: Winchester

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700Rent in $9431734

* 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
Westpark Elementary School Primary Regular 484 25 8
Benbrook Middle High School Middle Regular 911 59 5
Benbrook Middle High School High Regular 911 59 5

Westpark Elementary School

  • Education Level: Primary
  • # of students: 484
  • # of teachers: 25
8
GreatSchools Rating

Benbrook Middle High School

  • Education Level: Middle
  • # of students: 911
  • # of teachers: 59
5
GreatSchools Rating

Benbrook Middle High School

  • Education Level: High
  • # of students: 911
  • # of teachers: 59
5
GreatSchools Rating
 

$247,500$302,500$275,000

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 -$1,015
Property Tax -$593
Property Insurance -$149
Property Management Fees -$99
CASH FLOW
$184

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.

$275,000

PROJECTED PRICE

$2,040

PROJECTED RENT

0.74%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 6.8%
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

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$78,625

INVESTMENT

$78,625

Down Payment
$68,750
Rehab Estimate
$5,750
Closing Costs
$4,125

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,015

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $68,750
Loan Amount $206,250
See What Happens When You Reinvest Cash Flow

7.75

YEARS SAVED

$32,755

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
  • $0.96

    LIST RENT PER SQFT
  • $2,015

    COMP ESTIMATED VALUE
  • $0.95

    COMP AVG. RENT PER SQFT
Comps Range
$1,835
1$1,8352$1,8953$1,8954$1,9955$2,040
$2,040
RENT COMPS ANALYSIS
  • 7117 Woodhinge Drive Benbrook, TX 5
    • 3 beds 3 baths ∙ 2,116 Sqft ∙ Built 1996 3 beds 3 baths ∙ 2,116 Sqft ∙ Built 1996
    • Rent
    • Rent Per SQFT
    •  
    • $2,040
    • $0.96
    •  
  • 7124 Lost Horizon Drive Benbrook, TX 1
    • 3 beds 2 baths ∙ 1,898 Sqft ∙ Built 1995 3 beds 2 baths ∙ 1,898 Sqft ∙ Built 1995
    LEASED 07/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,835
    • $0.97
    •  
  • 10908 Tour Trail Benbrook, TX 2
    • 3 beds 2 baths ∙ 1,891 Sqft ∙ Built 2015 3 beds 2 baths ∙ 1,891 Sqft ∙ Built 2015
    LEASED 09/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $1.00
    •  
  • 7109 Woodhinge Drive Benbrook, TX 3
    • 3 beds 3 baths ∙ 2,108 Sqft ∙ Built 1996 3 beds 3 baths ∙ 2,108 Sqft ∙ Built 1996
    LEASED 11/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.90
    •  
  • 10613 Whitestone Ranch Road Benbrook, TX 4
    • 3 beds 2 baths ∙ 2,113 Sqft ∙ Built 2002 3 beds 2 baths ∙ 2,113 Sqft ∙ Built 2002
    LEASED 03/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.94
    •  
PROPERTY LISTING DETAILS
David Allison
Jp And Associates Willow Park
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14464794
Last Updated: 11/05/2020
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