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PROPERTY INFO
FACTS
- Single Family
- Built In 2005
- Price/Sqft : $147.10
- 3 Days on Market
- MLS # : 14479647
- Updated Date : 12/05/2020 at 14:45
CONSTRUCTION
- Beds : 4
- Floor Size : 2,535 sqft
- Baths : 2 full , 1 half
Listing Agent
Coldwell Banker Realty
Listing Agent's Description
Enjoy the gorgeous ponds, fountains & trails of Fountain Ridge. All rooms downstairs except game room. Many updates from 2015-2020 including roof in 2018. High quality finishes throughout. Gorgeous ceramic tile flooring in most rooms. Wood Plantation shutters on all windows. Kitchen has breakfast bar, gas range, marble counters, subway tile backsplash, updated microwave, dishwasher, & farm sink. Master bath remodeled to include full walk-in shower with gorgeous tile, marble counters. Half bath & closet added to game room upstairs. Private backyard offers stamped concrete patio, higher fence for privacy. Professionally landscaped. Formal Living has French doors and could be used as a study.
SEE MORE
- 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)
- . 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)
PRICE & RENT TRENDS
Neighborhood: Fountain Ridge
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Fountain Ridge
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $2,100 |
| EXPENSES | Loan Payment | -$1,376 |
| Property Tax | -$818 | |
| Property Insurance | -$174 | |
| HOA | -$54 | |
| Property Management Fees | -$99 | |
|
CASH FLOW
-$421
|
||
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.
$372,900
PROJECTED PRICE
$2,100
PROJECTED RENT
0.56%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 3.94% |
| Appreciation Year (1-5) | 1.0% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 6.93% |
| Length of Stay Years | 2 |
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$104,569
LOAN DETAILS
$1,376
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $93,225 |
| Loan Amount | $279,675 |
0.33
YEARS SAVED
$382
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$2,100
LIST RENT -
$0.83
LIST RENT PER SQFT
-
$2,079
COMP ESTIMATED VALUE -
$0.82
COMP AVG. RENT PER SQFT
Comps Range
-
7805 Creek View Drive North Richland Hills, TX 3
- 4 beds 3 baths ∙ 2,535 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,535 Sqft ∙ Built 2005
- Rent
- Rent Per SQFT
- $2,100
- $0.83
-
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
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
LEASED 10/14/19- Rent
- Rent Per SQFT
- $1,850
- $0.83
-
7412 Steward Lane North Richland Hills, TX 4
- 4 beds 3 baths ∙ 2,640 Sqft ∙ Built 1990 4 beds 3 baths ∙ 2,640 Sqft ∙ Built 1990
LEASED 09/18/19- Rent
- Rent Per SQFT
- $2,200
- $0.83
-
5801 Robins Way North Richland Hills, TX 5
- 4 beds 3 baths ∙ 2,812 Sqft ∙ Built 2001 4 beds 3 baths ∙ 2,812 Sqft ∙ Built 2001
LEASED 02/13/20- Rent
- Rent Per SQFT
- $2,200
- $0.78
PROPERTY LISTING DETAILS
Coldwell Banker Realty
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
MLS #: 14479647
Last Updated: 12/05/2020
