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7632 Regal Lane North Richland Hills, TX 76180

3 Beds 3 Baths 2,925 sqft Built 2020

$407,599

List Price

$2,510

$2.3K - $2.8K

Rent Est.

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
December 12, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2020
  • Price/Sqft : $139.35
  • 2 Days on Market
  • MLS # : 14485635
  • Updated Date : 12/12/2020 at 19:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,925 sqft
  • Baths : 2 full , 1 half
Listing Agent

Homesusa.com

Listing Agent's Description

MLS# - Built by Windsor Homes - February completion! ~ Paluxy 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 quartz countertops, pendant lights, stainless gas cooktop and double ovens. Upstairs you escape to quiet bedrooms that encourage peace and relaxation. All bathrooms have upgraded tile flooring. Upstairs a utility room and wonderfully useful storage room. This home needs to be seen to be believed. You will look forward to coming home every day in this refuge from the 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
 

$366,839$448,359$407,599

PURCHASE PRICE

$2,259$2,761$2,510

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,510
EXPENSES Loan Payment -$1,504
Property Tax -$894
Property Insurance -$196
HOA -$52
Property Management Fees -$99
CASH FLOW
-$236

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.

$407,599

PROJECTED PRICE

$2,510

PROJECTED RENT

0.62%

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-$6.0k-$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$1.0M$1.2M$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$110,014

INVESTMENT

$110,014

Down Payment
$101,900
Rehab Estimate
$2,000
Closing Costs
$6,114

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,504

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $101,900
Loan Amount $305,699
See What Happens When You Reinvest Cash Flow

1.58

YEARS SAVED

$4,947

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,510

    LIST RENT
  • $0.86

    LIST RENT PER SQFT
  • $2,537

    COMP ESTIMATED VALUE
  • $0.87

    COMP AVG. RENT PER SQFT
Comps Range
$2,200
1$2,2002$2,5103$2,7504$2,8955$2,900
$2,900
RENT COMPS ANALYSIS
  • 7632 Regal Lane North Richland Hills, TX 2
    • 3 beds 3 baths ∙ 2,925 Sqft ∙ Built 2020 3 beds 3 baths ∙ 2,925 Sqft ∙ Built 2020
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,510
    • $0.86
    •  
  • 5801 Robins Way North Richland Hills, TX 1
    • 4 beds 3 baths ∙ 2,812 Sqft ∙ Built 2001 4 beds 3 baths ∙ 2,812 Sqft ∙ Built 2001
    property image
    LEASED 02/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.78
    •  
  • 8501 Newman Drive North Richland Hills, TX 3
    • 3 beds 3 baths ∙ 3,078 Sqft ∙ Built 2003 3 beds 3 baths ∙ 3,078 Sqft ∙ Built 2003
    property image
    LEASED 06/17/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,750
    • $0.89
    •  
  • 6209 Winter Park Drive North Richland Hills, TX 4
    • 4 beds 3 baths ∙ 3,261 Sqft ∙ Built 2006 4 beds 3 baths ∙ 3,261 Sqft ∙ Built 2006
    property image
    LEASED 03/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,895
    • $0.89
    •  
  • 8505 Olmstead Terrace North Richland Hills, TX 5
    • 3 beds 3 baths ∙ 3,195 Sqft ∙ Built 2002 3 beds 3 baths ∙ 3,195 Sqft ∙ Built 2002
    property image
    LEASED 10/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,900
    • $0.91
    •  
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 #: 14485635
Last Updated: 12/12/2020
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