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7604 Doris Court North Richland Hills, TX 76182

3 Beds 2 Baths 1,485 sqft Built 1985

$249,900

List Price

$1,590

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

February 05, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1985
  • Price/Sqft : $168.28
  • 3 Days on Market
  • MLS # : 14512969
  • Updated Date : 02/06/2021 at 19:19
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,485 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Realty

Listing Agent's Description

MULTIPLE OFFERS RECEIVED DEADLINE 7PM 2-7-21 Adorably Updated Home in the Heart of North Richland Hills! Home Sits Nestled in Established Neighborhood in Cul-de-Sac, Among Mature Shade Trees. Farmhouse Inspired Updates Throughout! From the Freshly Painted White Exterior with Black Finishes to the Update Bathrooms Featuring Subway Tile, Lavish Hardware Finishes, Custom Shelving and Lovely Painted Kitchen Cabinets, this Home Will Not Disappoint! Versatile Spit Floor Plan, Spacious Living Room and Kitchen with Breakfast Bar Top and Eat-In Kitchen Dining, Separate Laundry Room. Private Master Bedroom, Master Bathroom Complete with Double Vanity Sinks, Oversized Shower, and Separate Closets. New Roof in Summer 2020.

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*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $104k336k

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

Zip Code: 76182

ZipNIR Market*CityMarket2010Year20002019 Q2100011001200130014001500160017001800190020002100Rent in $9192171

* 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
Smithfield Elementary School Primary Regular 437 30 9
Smithfield Middle School Middle Regular 818 49 10
Birdville High School High Regular 2,083 125 7

Smithfield Elementary School

  • Education Level: Primary
  • # of students: 437
  • # of teachers: 30
9
GreatSchools Rating

Smithfield Middle School

  • Education Level: Middle
  • # of students: 818
  • # of teachers: 49
10
GreatSchools Rating

Birdville High School

  • Education Level: High
  • # of students: 2,083
  • # of teachers: 125
7
GreatSchools Rating
 

$224,910$274,890$249,900

PURCHASE PRICE

$1,431$1,749$1,590

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,590
EXPENSES Loan Payment -$868
Property Tax -$548
Property Insurance -$113
Property Management Fees -$99
CASH FLOW
-$38

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.

$249,900

PROJECTED PRICE

$1,590

PROJECTED RENT

0.64%

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) 8.00%
Vacancy 6.93%
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$800k

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$71,974

INVESTMENT

$71,974

Down Payment
$62,475
Rehab Estimate
$5,750
Closing Costs
$3,749

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$868

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $62,475
Loan Amount $187,425
See What Happens When You Reinvest Cash Flow

3.58

YEARS SAVED

$8,260

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,590

    LIST RENT
  • $1.07

    LIST RENT PER SQFT
  • $1,611

    COMP ESTIMATED VALUE
  • $1.09

    COMP AVG. RENT PER SQFT
Comps Range
$1,500
1$1,5002$1,5903$1,5954$1,6005$1,775
$1,775
RENT COMPS ANALYSIS
  • 7604 Doris Court North Richland Hills, TX 2
    • 3 beds 2 baths ∙ 1,485 Sqft ∙ Built 1985 3 beds 2 baths ∙ 1,485 Sqft ∙ Built 1985
    • Rent
    • Rent Per SQFT
    •  
    • $1,590
    • $1.07
    •  
  • 7430 Sandhurst Lane North Richland Hills, TX 1
    • 3 beds 2 baths ∙ 1,444 Sqft ∙ Built 1978 3 beds 2 baths ∙ 1,444 Sqft ∙ Built 1978
    LEASED 02/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $1.04
    •  
  • 7437 Chelmsford Place North Richland Hills, TX 3
    • 3 beds 2 baths ∙ 1,444 Sqft ∙ Built 1978 3 beds 2 baths ∙ 1,444 Sqft ∙ Built 1978
    LEASED 10/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $1.10
    •  
  • 7609 Kimberly Court North Richland Hills, TX 4
    • 3 beds 2 baths ∙ 1,492 Sqft ∙ Built 1985 3 beds 2 baths ∙ 1,492 Sqft ∙ Built 1985
    LEASED 03/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $1.07
    •  
  • 7421 Dana Lane North Richland Hills, TX 5
    • 3 beds 2 baths ∙ 1,565 Sqft ∙ Built 1987 3 beds 2 baths ∙ 1,565 Sqft ∙ Built 1987
    LEASED 12/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,775
    • $1.13
    •  
PROPERTY LISTING DETAILS
Eric Herron
Keller Williams Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14512969
Last Updated: 02/06/2021
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