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7216 Stonegate Drive Benbrook, TX 76126

3 Beds 2 Baths 1,421 sqft Built 1995

$185,000

List Price

$1,420

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

December 10, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1995
  • Price/Sqft : $130.19
  • 4 Days on Market
  • MLS # : 14483580
  • Updated Date : 12/12/2020 at 11:29
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,421 sqft
  • Baths : 2 full
Listing Agent

Re/max Trinity

Listing Agent's Description

OPEN HOUSE SATURDAY DEC 12 1-3PM! Rare opportunity to own a wonderful home in a highly desirable neighborhood located in Benbrook and close proximity to I20! This home features three oversized bedrooms, all with huge walk in closets. This open concept floor plan has vaulted ceilings in the living room and feels larger than actual square footage. Wood burning fireplace, covered deck, storage building, and oversized two car garage are also featured amenities. Cosmetic updates are needed but roof and HVAC unit, inside and out, were replaced within the last year. Two refrigerators, washer and dryer all convey with the sale. Seller will not be doing any repairs. Lender required or otherwise.

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
 

$166,500$203,500$185,000

PURCHASE PRICE

$1,278$1,562$1,420

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,420
EXPENSES Loan Payment -$683
Property Tax -$399
Property Insurance -$109
Property Management Fees -$99
CASH FLOW
$130

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.

$185,000

PROJECTED PRICE

$1,420

PROJECTED RENT

0.77%

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$100k$200k$300k$400k$500k$600k$700k

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$54,775

INVESTMENT

$54,775

Down Payment
$46,250
Rehab Estimate
$5,750
Closing Costs
$2,775

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$683

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $46,250
Loan Amount $138,750
See What Happens When You Reinvest Cash Flow

8

YEARS SAVED

$22,449

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,420

    LIST RENT
  • $1

    LIST RENT PER SQFT
  • $1,478

    COMP ESTIMATED VALUE
  • $1.04

    COMP AVG. RENT PER SQFT
Comps Range
$1,420
1$1,4202$1,4753$1,4954$1,6505$1,675
$1,675
RENT COMPS ANALYSIS
  • 7216 Stonegate Drive Benbrook, TX 1
    • 3 beds 2 baths ∙ 1,421 Sqft ∙ Built 1995 3 beds 2 baths ∙ 1,421 Sqft ∙ Built 1995
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,420
    • $1.00
    •  
  • 10708 Cobblestone Drive Benbrook, TX 2
    • 3 beds 2 baths ∙ 1,393 Sqft ∙ Built 1996 3 beds 2 baths ∙ 1,393 Sqft ∙ Built 1996
    property image
    LEASED 04/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,475
    • $1.06
    •  
  • 7336 Royal Oak Drive Benbrook, TX 3
    • 3 beds 2 baths ∙ 1,434 Sqft ∙ Built 1997 3 beds 2 baths ∙ 1,434 Sqft ∙ Built 1997
    property image
    LEASED 09/26/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $1.04
    •  
  • 10813 Edgewater Drive Benbrook, TX 4
    • 3 beds 2 baths ∙ 1,602 Sqft ∙ Built 1996 3 beds 2 baths ∙ 1,602 Sqft ∙ Built 1996
    property image
    LEASED 07/12/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.03
    •  
  • 10300 Nelson Drive Benbrook, TX 5
    • 3 beds 2 baths ∙ 1,630 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,630 Sqft ∙ Built 2005
    property image
    LEASED 05/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,675
    • $1.03
    •  
PROPERTY LISTING DETAILS
Tina Mcnew
Re/max Trinity
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14483580
Last Updated: 12/12/2020
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