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7232 Smith Farm Drive North Richland Hills, TX 76182

4 Beds 3 Baths 3,541 sqft Built 2021

$713,035

List Price

$2,930

$2.7K - $3.2K

Rent Est.

PROPERTY INFO

Built 2021 NEW CONSTRUCTION
SINGLE-FAMILY
February 18, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2021
  • Price/Sqft : $201.37
  • 4 Days on Market
  • MLS # : 14519365
  • Updated Date : 02/18/2021 at 12:01
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,541 sqft
  • Baths : 3 full
Listing Agent

Ultima Real Estate

Listing Agent's Description

Beautiful custom home! Will be ready for move-in 2021. This home will have spacious living area and ample entertaining space. In the heard of NRH is a quiet community convenient to the city's premiere amenities. Located off of Starens Rd. and Douglas Ln. Smith Farms is perfectly situated! Walking distance to the pristine Cross Timbers Park where you will enjoy biking, walking trails and ball parks. This prime location is also in close proximity to the best sports and recreational facilites. This neighborhood included beautiful trees, winding street and generous home sites.

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

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
North Ridge Elementary School Primary Regular 528 36 8
Richland High School High Regular 2,137 135 7
Richland High School High Unknown NA

North Ridge Elementary School

  • Education Level: Primary
  • # of students: 528
  • # of teachers: 36
8
GreatSchools Rating

Richland High School

  • Education Level: High
  • # of students: 2,137
  • # of teachers: 135
7
GreatSchools Rating

Richland High School

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

$641,732$784,339$713,035

PURCHASE PRICE

$2,637$3,223$2,930

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,930
EXPENSES Loan Payment -$2,477
Property Tax -$1,565
Property Insurance -$232
HOA -$63
Property Management Fees -$99
CASH FLOW
-$1,505

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 10% of earned rent to cover both maintenance and periods of vacancy.

$713,035

PROJECTED PRICE

$2,930

PROJECTED RENT

0.41%

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) 3.00%
Vacancy 6.93%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$500k$1.0M$1.5M$2.0M

PROJECTED ANNUAL CASH FLOW

11530-$25k-$20k-$15k-$10k-$5.0k$0.0

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$190,954

INVESTMENT

$190,954

Down Payment
$178,259
Rehab Estimate
$2,000
Closing Costs
$10,696

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 100% down payment or higher enables the proceeds from the asset to cover all costs.

$2,477

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $178,259
Loan Amount $534,776
See What Happens When You Reinvest Cash Flow

-0.25

YEARS SAVED

-$99

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,930

    LIST RENT
  • $0.83

    LIST RENT PER SQFT
  • $2,939

    COMP ESTIMATED VALUE
  • $0.83

    COMP AVG. RENT PER SQFT
Comps Range
$2,930
1$2,9302$2,9503$3,000
$3,000
RENT COMPS ANALYSIS
  • 7232 Smith Farm Drive North Richland Hills, TX 1
    • 4 beds 3 baths ∙ 3,541 Sqft ∙ Built 2021 4 beds 3 baths ∙ 3,541 Sqft ∙ Built 2021
    • Rent
    • Rent Per SQFT
    •  
    • $2,930
    • $0.83
    •  
  • 7108 Four Sixes Ranch Road North Richland Hills, TX 2
    • 4 beds 4 baths ∙ 3,786 Sqft ∙ Built 2012 4 beds 4 baths ∙ 3,786 Sqft ∙ Built 2012
    LEASED 07/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,950
    • $0.78
    •  
  • 8105 Seville Drive North Richland Hills, TX 3
    • 4 beds 3 baths ∙ 3,427 Sqft ∙ Built 2006 4 beds 3 baths ∙ 3,427 Sqft ∙ Built 2006
    LEASED 08/26/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $0.88
    •  
PROPERTY LISTING DETAILS
Mey-ling Pauri
Ultima Real Estate
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14519365
Last Updated: 02/18/2021
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