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7525 Janetta Drive North Richland Hills, TX 76180

3 Beds 2 Baths 1,522 sqft Built 1983

$225,000

List Price

$1,490

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

November 04, 2020 RECENTLY ADDED
FACTS
  • Built In 1983
  • Price/Sqft : $147.83
  • 5 Days on Market
  • MLS # : 14461320
  • Updated Date : 11/04/2020 at 21:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,522 sqft
  • Baths : 2 full
Listing Agent

Opendoor Brokerage, Llc

Listing Agent's Description

This North Richland Hills one-story home offers a patio, and a two-car garage. This home is vacant and cleaned regularly.

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: Richland Terrace

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240kPrice in $88k244k

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

Neighborhood: Richland Terrace

NeighborhoodNIR Market*CityMarket2010Year20002019 Q290010001100120013001400150016001700Rent in $8521786

* 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
Holiday Heights Elementary School Primary Regular 686 41 6
North Richland Middle School Middle Regular 827 57 7
Richland High School High Regular 2,137 135 7

Holiday Heights Elementary School

  • Education Level: Primary
  • # of students: 686
  • # of teachers: 41
6
GreatSchools Rating

North Richland Middle School

  • Education Level: Middle
  • # of students: 827
  • # of teachers: 57
7
GreatSchools Rating

Richland High School

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

$202,500$247,500$225,000

PURCHASE PRICE

$1,341$1,639$1,490

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,490
EXPENSES Loan Payment -$830
Property Tax -$494
Property Insurance -$115
Property Management Fees -$99
CASH FLOW
-$48

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.

$225,000

PROJECTED PRICE

$1,490

PROJECTED RENT

0.66%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.74%
Appreciation Year (1-5) 8.4%
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$100k$200k$300k$400k$500k$600k$700k

PROJECTED ANNUAL CASH FLOW

11530-$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$100k$200k$300k$400k$500k$600k$700k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$65,375

INVESTMENT

$65,375

Down Payment
$56,250
Rehab Estimate
$5,750
Closing Costs
$3,375

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$830

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $56,250
Loan Amount $168,750
See What Happens When You Reinvest Cash Flow

3.42

YEARS SAVED

$7,973

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,490

    LIST RENT
  • $0.98

    LIST RENT PER SQFT
  • $1,507

    COMP ESTIMATED VALUE
  • $0.99

    COMP AVG. RENT PER SQFT
Comps Range
$1,400
1$1,4002$1,4903$1,5504$1,5505$1,695
$1,695
RENT COMPS ANALYSIS
  • 7525 Janetta Drive North Richland Hills, TX 2
    • 3 beds 2 baths ∙ 1,522 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,522 Sqft ∙ Built 1983
    • Rent
    • Rent Per SQFT
    •  
    • $1,490
    • $0.98
    •  
  • 5516 Topper Court North Richland Hills, TX 1
    • 3 beds 2 baths ∙ 1,410 Sqft ∙ Built 1970 3 beds 2 baths ∙ 1,410 Sqft ∙ Built 1970
    LEASED 10/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.99
    •  
  • 5408 Greenwood Way North Richland Hills, TX 3
    • 4 beds 2 baths ∙ 1,506 Sqft ∙ Built 1965 4 beds 2 baths ∙ 1,506 Sqft ∙ Built 1965
    LEASED 01/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $1.03
    •  
  • 7521 Janetta Drive North Richland Hills, TX 4
    • 3 beds 2 baths ∙ 1,650 Sqft ∙ Built 1982 3 beds 2 baths ∙ 1,650 Sqft ∙ Built 1982
    LEASED 04/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.94
    •  
  • 5132 Abby Road North Richland Hills, TX 5
    • 3 beds 2 baths ∙ 1,690 Sqft ∙ Built 1980 3 beds 2 baths ∙ 1,690 Sqft ∙ Built 1980
    LEASED 01/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $1.00
    •  
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 #: 14461320
Last Updated: 11/04/2020
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