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8200 Rio Bend Court North Richland Hills, TX 76182

3 Beds 4 Baths 4,399 sqft Built 2006

$640,000

List Price

$3,600

$3.4K - $3.9K

Rent Est.

PROPERTY INFO

January 20, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2006
  • Price/Sqft : $145.49
  • 5 Days on Market
  • MLS # : 14503372
  • Updated Date : 01/24/2021 at 01:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 4,399 sqft
  • Baths : 3 full , 1 half
Listing Agent

Ebby Halliday, Realtors

Listing Agent's Description

Gorgeous custom home on a super private lot with tons of upgrades! Huge kitchen w 2 dishwashers, SS Appliances, built in Icemaker, Gas cooktop, lg walk in pantry, island, and lots of eat in kitchen seating. Open to huge living and dining room all w excellent views of the pool and outdoor living area. Pool half bath by garage. Fabulous outdoor grill area, sauna, outdoor fireplace, outdoor lighting, sound, and spa. Backs to greenbelt w a gate for easy access to the trail. Huge garage that easily fits a large truck in space 3 or 2 smaller cars. RV, trailor, boat parking on the side of the home behind the gate. Lg grass area behind the pool fence. Upstairs Rm 15 by 12 could be bdrm 4. Study w murphy bed.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Forest Glenn

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360k380k400k420kPrice in $123k426k

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

Neighborhood: Forest Glenn

NeighborhoodNIR Market*CityMarket2010Year20002019 Q212001400160018002000220024002600Rent in $10412720

* 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
Liberty Elementary School Primary Regular 389 29 10
Bear Creek Intermediate School Middle Regular 781 42 9
Keller High School High Regular 2,645 145 10

Liberty Elementary School

  • Education Level: Primary
  • # of students: 389
  • # of teachers: 29
10
GreatSchools Rating

Bear Creek Intermediate School

  • Education Level: Middle
  • # of students: 781
  • # of teachers: 42
9
GreatSchools Rating

Keller High School

  • Education Level: High
  • # of students: 2,645
  • # of teachers: 145
10
GreatSchools Rating
 

$576,000$704,000$640,000

PURCHASE PRICE

$3,240$3,960$3,600

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,600
EXPENSES Loan Payment -$2,223
Property Tax -$1,404
Property Insurance -$281
HOA -$42
Property Management Fees -$99
CASH FLOW
-$449

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.

$640,000

PROJECTED PRICE

$3,600

PROJECTED RENT

0.56%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 5.0%
Maintenance Year (1-5) 8.00%
Vacancy 6.93%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M$1.8M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M$1.8M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$175,350

INVESTMENT

$175,350

Down Payment
$160,000
Rehab Estimate
$5,750
Closing Costs
$9,600

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$2,223

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $160,000
Loan Amount $480,000
See What Happens When You Reinvest Cash Flow

1.17

YEARS SAVED

$3,601

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,600

    LIST RENT
  • $0.82

    LIST RENT PER SQFT
  • $3,519

    COMP ESTIMATED VALUE
  • $0.8

    COMP AVG. RENT PER SQFT
Comps Range
$3,500
1$3,5002$3,6003$3,700
$3,700
RENT COMPS ANALYSIS
  • 8200 Rio Bend Court North Richland Hills, TX 2
    • 3 beds 4 baths ∙ 4,399 Sqft ∙ Built 2006 3 beds 4 baths ∙ 4,399 Sqft ∙ Built 2006
    • Rent
    • Rent Per SQFT
    •  
    • $3,600
    • $0.82
    •  
  • 8008 Oak Knoll Drive North Richland Hills, TX 1
    • 4 beds 5 baths ∙ 4,505 Sqft ∙ Built 2006 4 beds 5 baths ∙ 4,505 Sqft ∙ Built 2006
    LEASED 09/12/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $0.78
    •  
  • 2013 Preston Brook Drive Keller, TX 3
    • 4 beds 4 baths ∙ 4,488 Sqft ∙ Built 2001 4 beds 4 baths ∙ 4,488 Sqft ∙ Built 2001
    LEASED 09/30/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,700
    • $0.82
    •  
PROPERTY LISTING DETAILS
Julie Gray
Ebby Halliday, Realtors
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14503372
Last Updated: 01/24/2021
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