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7604 Quartering Drive North Richland Hills, TX 76182

3 Beds 3 Baths 2,232 sqft Built 2011

INVESTimate

$375,000

List Price

$2,260

$2,034 - $2,486

Rent Est.

$401,138  ( +6.97%)   1 YR EST. FORECAST

PROPERTY INFO

August 21, 2020 RECENTLY ADDED
FACTS
  • Built In 2011
  • Price/Sqft : $168.01
  • 7 Days on Market
  • MLS # : 14416451
  • Updated Date : 08/21/2020 at 05:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,232 sqft
  • Baths : 2 full , 1 half
Listing Agent

Fort Worth Property Group

Listing Agent's Description

Custom built home in highly desirable neighborhood, close to schools and shopping. You'll love the home's upgrades, including arched openings, Austin stone gas fireplace, extensive crown molding and beautiful wood floors. Open floor plan with main gathering space open to kitchen with granite counter tops, gas cooktop and breakfast bar for causal dining. Owner's study and formal dining area as you enter the residence. Spacious Owner's suite on main level with en suite, including oversized shower, separate vanities and attached to utility room. The covered back patio and gardens are perfect for entertaining and enjoying your morning coffee. Attached please find 360 Virtual Tour to view property in it's entirety.

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: Liberty Village

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340kPrice in $123k348k

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

Neighborhood: Liberty Village

NeighborhoodNIR Market*CityMarket2010Year20002019 Q212001400160018002000220024002600Rent in $10412724

* 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
 

$337,500$412,500$375,000

PURCHASE PRICE

$2,034$2,486$2,260

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

11530-$8.0k-$6.0k-$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$200k$400k$600k$800k$1.0M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,260
EXPENSES Loan Payment -$1,384
Property Tax -$823
Property Insurance -$156
HOA -$42
Property Management Fees -$99
CASH FLOW
-$243

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.

$375,000

PROJECTED PRICE

$2,260

PROJECTED RENT

0.60%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 6.97%
Maintenance Year (1-5) 8.00%
Vacancy 6.93%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$105,125

INVESTMENT

$105,125

Down Payment
$93,750
Rehab Estimate
$5,750
Closing Costs
$5,625

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$1,384

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $93,750
Loan Amount $281,250
See What Happens When You Reinvest Cash Flow

1.5

YEARS SAVED

$4,157

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,260

    LIST RENT
  • $1.01

    LIST RENT PER SQFT
  • $2,277

    COMP ESTIMATED VALUE
  • $1.02

    COMP AVG. RENT PER SQFT
Comps Range
$2,200
1$2,2002$2,2603$2,2954$2,3005$2,500
$2,500
RENT COMPS ANALYSIS
  • 7604 Quartering Drive North Richland Hills, TX 2
    • 3 beds 3 baths ∙ 2,232 Sqft ∙ Built 2011 3 beds 3 baths ∙ 2,232 Sqft ∙ Built 2011
    • Rent
    • Rent Per SQFT
    •  
    • $2,260
    • $1.01
    •  
  • 7912 Spring Run North Richland Hills, TX 1
    • 4 beds 2 baths ∙ 2,114 Sqft ∙ Built 2004 4 beds 2 baths ∙ 2,114 Sqft ∙ Built 2004
    LEASED 08/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $1.04
    •  
  • 7209 E Nirvana Circle North Richland Hills, TX 3
    • 3 beds 3 baths ∙ 2,375 Sqft ∙ Built 2015 3 beds 3 baths ∙ 2,375 Sqft ∙ Built 2015
    LEASED 03/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,295
    • $0.97
    •  
  • 8205 Lost Maple Drive North Richland Hills, TX 4
    • 3 beds 2 baths ∙ 2,243 Sqft ∙ Built 1996 3 beds 2 baths ∙ 2,243 Sqft ∙ Built 1996
    LEASED 05/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.03
    •  
  • 8105 Pecan Ridge Drive North Richland Hills, TX 5
    • 3 beds 2 baths ∙ 2,414 Sqft ∙ Built 1997 3 beds 2 baths ∙ 2,414 Sqft ∙ Built 1997
    LEASED 05/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.04
    •  
PROPERTY LISTING DETAILS
Sanford Finkelstein
Fort Worth Property Group
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14416451
Last Updated: 08/21/2020
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