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7624 Regal Lane North Richland Hills, TX 76180

3 Beds 3 Baths 2,208 sqft Built 2020

$369,479

List Price

$1,910

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
December 12, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2020
  • Price/Sqft : $167.34
  • 2 Days on Market
  • MLS # : 14485590
  • Updated Date : 12/12/2020 at 17:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,208 sqft
  • Baths : 2 full , 1 half
Listing Agent

Homesusa.com

Listing Agent's Description

MLS# 14485590 - Built by Windsor Homes - February completion! ~ Sabine floorplan offers luxury and utility with a great flow. Includes covered front porch and patio. Open floorplan provides an entertainment area with access to family room, dining room and the kitchen. Kitchen features double ovens, a gas cooktop and pendant lights. Upstairs features 3 bedrooms, including luxurious owners suite. Bedrooms are complemented by a large game room and utility room. Home has 2 car garage, built in sprinkler system and Taexx in-wall Pest Defense System. Energy efficiency includes LoE gas windows, tankless water heater, radiant barrier roof decking and 16 SEER air conditioner. Must be seen to be appreciated.

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: College Hills

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240kPrice in $88k244k

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

Neighborhood: College Hills

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700Rent in $9351786

* 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
 

$332,531$406,427$369,479

PURCHASE PRICE

$1,719$2,101$1,910

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,910
EXPENSES Loan Payment -$1,363
Property Tax -$811
Property Insurance -$155
HOA -$52
Property Management Fees -$99
CASH FLOW
-$570

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.

$369,479

PROJECTED PRICE

$1,910

PROJECTED RENT

0.52%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.74%
Appreciation Year (1-5) 9.3%
Maintenance Year (1-5) 3.00%
Vacancy 6.69%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$99,912

INVESTMENT

$99,912

Down Payment
$92,370
Rehab Estimate
$2,000
Closing Costs
$5,542

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 75% down payment or higher enables the proceeds from the asset to cover all costs.

$1,363

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $92,370
Loan Amount $277,109
See What Happens When You Reinvest Cash Flow

0

YEARS SAVED

$16

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,910

    LIST RENT
  • $0.87

    LIST RENT PER SQFT
  • $1,932

    COMP ESTIMATED VALUE
  • $0.88

    COMP AVG. RENT PER SQFT
Comps Range
$1,850
1$1,8502$1,8503$1,8994$1,9105$1,999
$1,999
RENT COMPS ANALYSIS
  • 7624 Regal Lane North Richland Hills, TX 4
    • 3 beds 3 baths ∙ 2,208 Sqft ∙ Built 2020 3 beds 3 baths ∙ 2,208 Sqft ∙ Built 2020
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,910
    • $0.87
    •  
  • 7316 Falcon Court North Richland Hills, TX 1
    • 4 beds 2 baths ∙ 2,200 Sqft ∙ Built 2000 4 beds 2 baths ∙ 2,200 Sqft ∙ Built 2000
    property image
    LEASED 08/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.84
    •  
  • 7305 Circle Drive North Richland Hills, TX 2
    • 3 beds 2 baths ∙ 2,220 Sqft ∙ Built 2001 3 beds 2 baths ∙ 2,220 Sqft ∙ Built 2001
    property image
    LEASED 10/14/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.83
    •  
  • 6248 Dream Dust Drive North Richland Hills, TX 3
    • 3 beds 3 baths ∙ 2,180 Sqft ∙ Built 2005 3 beds 3 baths ∙ 2,180 Sqft ∙ Built 2005
    property image
    LEASED 08/22/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,899
    • $0.87
    •  
  • 6112 Cherry Glow Lane North Richland Hills, TX 5
    • 4 beds 2 baths ∙ 2,088 Sqft ∙ Built 2005 4 beds 2 baths ∙ 2,088 Sqft ∙ Built 2005
    property image
    LEASED 12/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,999
    • $0.96
    •  
PROPERTY LISTING DETAILS
Ben Caballero
Homesusa.com
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14485590
Last Updated: 12/12/2020
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