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7628 Regal Lane North Richland Hills, TX 76180

4 Beds 3 Baths 3,014 sqft Built 2020

$399,406

List Price

$2,750

$2.5K - $3K

Rent Est.

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
December 12, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2020
  • Price/Sqft : $132.52
  • 2 Days on Market
  • MLS # : 14485589
  • Updated Date : 12/12/2020 at 17:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,014 sqft
  • Baths : 3 full
Listing Agent

Homesusa.com

Listing Agent's Description

MLS# 14485589 - Built by Windsor Homes - February completion! ~ Medina delivers spaciousness, luxury and Windsor Homes quality. Great entertainment area combines family room, kitchen and dining room. In addition to wood flooring in the entertainment area, there is wood flooring in study, entry and mudroom. Kitchen features large pantry, pendant lights, stainless gas cooktop and double ovens. First floor offers study and great guest bedroom and bath. Upstairs you escape to quiet bedrooms that encourage peace and relaxation. All three bathrooms have upgraded tile flooring. This home needs to be seen to be believed. You will look forward to coming home every day to this refuge from your busy world.

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
 

$359,465$439,347$399,406

PURCHASE PRICE

$2,475$3,025$2,750

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,750
EXPENSES Loan Payment -$1,474
Property Tax -$876
Property Insurance -$201
HOA -$52
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 10% of earned rent to cover both maintenance and periods of vacancy.

$399,406

PROJECTED PRICE

$2,750

PROJECTED RENT

0.69%

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$1.4M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k

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$107,843

INVESTMENT

$107,843

Down Payment
$99,852
Rehab Estimate
$2,000
Closing Costs
$5,991

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,474

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $99,852
Loan Amount $299,555
See What Happens When You Reinvest Cash Flow

4.83

YEARS SAVED

$23,458

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,750

    LIST RENT
  • $0.91

    LIST RENT PER SQFT
  • $2,735

    COMP ESTIMATED VALUE
  • $0.91

    COMP AVG. RENT PER SQFT
Comps Range
$2,750
1$2,7502$2,7503$2,8954$2,9005$2,995
$2,995
RENT COMPS ANALYSIS
  • 7628 Regal Lane North Richland Hills, TX 2
    • 4 beds 3 baths ∙ 3,014 Sqft ∙ Built 2020 4 beds 3 baths ∙ 3,014 Sqft ∙ Built 2020
    • Rent
    • Rent Per SQFT
    •  
    • $2,750
    • $0.91
    •  
  • 8501 Newman Drive North Richland Hills, TX 1
    • 3 beds 3 baths ∙ 3,078 Sqft ∙ Built 2003 3 beds 3 baths ∙ 3,078 Sqft ∙ Built 2003
    LEASED 06/17/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,750
    • $0.89
    •  
  • 6209 Winter Park Drive North Richland Hills, TX 3
    • 4 beds 3 baths ∙ 3,261 Sqft ∙ Built 2006 4 beds 3 baths ∙ 3,261 Sqft ∙ Built 2006
    LEASED 03/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,895
    • $0.89
    •  
  • 8505 Olmstead Terrace North Richland Hills, TX 4
    • 3 beds 3 baths ∙ 3,195 Sqft ∙ Built 2002 3 beds 3 baths ∙ 3,195 Sqft ∙ Built 2002
    LEASED 10/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,900
    • $0.91
    •  
  • 6901 Cambridge Drive North Richland Hills, TX 5
    • 5 beds 3 baths ∙ 3,180 Sqft ∙ Built 2016 5 beds 3 baths ∙ 3,180 Sqft ∙ Built 2016
    LEASED 09/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,995
    • $0.94
    •  
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 #: 14485589
Last Updated: 12/12/2020
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