Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

7612 Chestnut Drive North Richland Hills, TX 76182

4 Beds 2 Baths 2,060 sqft Built 1992

$330,000

List Price

$2,080

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 25, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1992
  • Price/Sqft : $160.19
  • 4 Days on Market
  • MLS # : 14521976
  • Updated Date : 02/26/2021 at 09:33
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,060 sqft
  • Baths : 2 full
Listing Agent

Jp And Associates Fort Worth

Listing Agent's Description

Meticulously Cared for 4-2-3 in the charming & quite Fair Oaks Estates. This home has a great floor plan with 2 living areas and a large open kitchen. New beautiful wood laminate floors greet you at the front door and extend throughout the living room and much of the home. The large kitchen is complete with plenty of storage, gorgeous cabinets, granite counter-tops, a gas cooktop and breakfast bar. Master suite features a recently updated bath (12-20) with jetted tub, walk-in shower and large walk-in closet. There is plenty of room to play and entertain in the large back yard with a great covered patio. Fantastic location near restaurants, shopping and Dr Pillow park and walking trails. NO HOA! Don't wait!

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: Fair Oaks Estates

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320kPrice in $123k336k

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

Neighborhood: Fair Oaks Estates

NeighborhoodNIR 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
Green Valley Elementary School Primary Regular 491 30 10
Richland High School High Regular 2,137 135 7
Green Valley Elementary School Primary Unknown NA

Green Valley Elementary School

  • Education Level: Primary
  • # of students: 491
  • # of teachers: 30
10
GreatSchools Rating

Richland High School

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

Green Valley Elementary School

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

$297,000$363,000$330,000

PURCHASE PRICE

$1,872$2,288$2,080

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,080
EXPENSES Loan Payment -$1,146
Property Tax -$724
Property Insurance -$146
Property Management Fees -$99
CASH FLOW
-$36

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.

$330,000

PROJECTED PRICE

$2,080

PROJECTED RENT

0.63%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 5.8%
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$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$93,200

INVESTMENT

$93,200

Down Payment
$82,500
Rehab Estimate
$5,750
Closing Costs
$4,950

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,146

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $82,500
Loan Amount $247,500
See What Happens When You Reinvest Cash Flow

3.67

YEARS SAVED

$11,690

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,080

    LIST RENT
  • $1.01

    LIST RENT PER SQFT
  • $2,070

    COMP ESTIMATED VALUE
  • $1.01

    COMP AVG. RENT PER SQFT
Comps Range
$1,900
1$1,9002$2,0503$2,0804$2,2005$2,300
$2,300
RENT COMPS ANALYSIS
  • 7612 Chestnut Drive North Richland Hills, TX 3
    • 4 beds 2 baths ∙ 2,060 Sqft ∙ Built 1992 4 beds 2 baths ∙ 2,060 Sqft ∙ Built 1992
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,080
    • $1.01
    •  
  • 7908 Kendra Lane North Richland Hills, TX 1
    • 3 beds 2 baths ∙ 1,865 Sqft ∙ Built 1987 3 beds 2 baths ∙ 1,865 Sqft ∙ Built 1987
    property image
    LEASED 03/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $1.02
    •  
  • 8001 Arlie Lane North Richland Hills, TX 2
    • 3 beds 2 baths ∙ 2,204 Sqft ∙ Built 1990 3 beds 2 baths ∙ 2,204 Sqft ∙ Built 1990
    property image
    LEASED 01/26/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,050
    • $0.93
    •  
  • 7912 Spring Run North Richland Hills, TX 4
    • 4 beds 2 baths ∙ 2,114 Sqft ∙ Built 2004 4 beds 2 baths ∙ 2,114 Sqft ∙ Built 2004
    property image
    LEASED 08/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $1.04
    •  
  • 8205 Lost Maple Drive North Richland Hills, TX 5
    • 3 beds 2 baths ∙ 2,243 Sqft ∙ Built 1996 3 beds 2 baths ∙ 2,243 Sqft ∙ Built 1996
    property image
    LEASED 05/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.03
    •  
PROPERTY LISTING DETAILS
Chris Reeves
Jp And Associates Fort Worth
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14521976
Last Updated: 02/26/2021
BESbswy