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8205 O Brian Way North Richland Hills, TX 76180

3 Beds 2 Baths 1,218 sqft Built 1983

$199,900

List Price

$1,250

$1.1K - $1.4K

Rent Est.

PROPERTY INFO

December 19, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1983
  • Price/Sqft : $164.12
  • 2 Days on Market
  • MLS # : 14488774
  • Updated Date : 12/19/2020 at 19:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,218 sqft
  • Baths : 2 full
Listing Agent

Altru Realty, Llc

Listing Agent's Description

North Richland Hills home features 3 bedrooms and 2 bathrooms. This home has a great open concept layout with a large living area, a dedicated dining area, and a spacious kitchen. The features go on with the good-sized master bedroom with full bathroom, 2 additional bedrooms, 2 car garage, and a large backyard ready for entertaining. This home is conveniently located in a highly convenient area with easy access to major highways. Come see it today before it's gone!

SEE MORE

MARKET HIGHLIGHTS

  • # 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)
  • . Dallas has 7th largest concentration of high-tech jobs in the U.S. (Dallas Chamber)

PRICE & RENT TRENDS

Neighborhood: Irish Meadows

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240kPrice in $97k244k

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

Neighborhood: Irish Meadows

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700Rent in $9421786

* 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
Academy At Carrie F. Thomas Primary Regular 692 45 6
Richland Middle School Middle Regular 660 43 4
Birdville High School High Regular 2,083 125 7

Academy At Carrie F. Thomas

  • Education Level: Primary
  • # of students: 692
  • # of teachers: 45
6
GreatSchools Rating

Richland Middle School

  • Education Level: Middle
  • # of students: 660
  • # of teachers: 43
4
GreatSchools Rating

Birdville High School

  • Education Level: High
  • # of students: 2,083
  • # of teachers: 125
7
GreatSchools Rating
 

$179,910$219,890$199,900

PURCHASE PRICE

$1,125$1,375$1,250

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,250
EXPENSES Loan Payment -$738
Property Tax -$439
Property Insurance -$98
Property Management Fees -$99
CASH FLOW
-$123

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 14% of earned rent to cover both maintenance and periods of vacancy.

$199,900

PROJECTED PRICE

$1,250

PROJECTED RENT

0.63%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 8.3%
Maintenance Year (1-5) 8.00%
Vacancy 6.39%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$2.0k$0.0$2.0k$4.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$58,724

INVESTMENT

$58,724

Down Payment
$49,975
Rehab Estimate
$5,750
Closing Costs
$2,999

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$738

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $49,975
Loan Amount $149,925
See What Happens When You Reinvest Cash Flow

1.92

YEARS SAVED

$2,922

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,250

    LIST RENT
  • $1.03

    LIST RENT PER SQFT
  • $1,258

    COMP ESTIMATED VALUE
  • $1.03

    COMP AVG. RENT PER SQFT
Comps Range
$1,250
1$1,2502$1,4003$1,4504$1,5005$1,575
$1,575
RENT COMPS ANALYSIS
  • 8205 O Brian Way North Richland Hills, TX 1
    • 3 beds 2 baths ∙ 1,218 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,218 Sqft ∙ Built 1983
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $1.03
    •  
  • 5516 Topper Court North Richland Hills, TX 2
    • 3 beds 2 baths ∙ 1,410 Sqft ∙ Built 1970 3 beds 2 baths ∙ 1,410 Sqft ∙ Built 1970
    LEASED 10/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.99
    •  
  • 8108 Irish Drive North Richland Hills, TX 3
    • 4 beds 2 baths ∙ 1,410 Sqft ∙ Built 1979 4 beds 2 baths ∙ 1,410 Sqft ∙ Built 1979
    LEASED 04/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $1.03
    •  
  • 8229 Irish Drive North Richland Hills, TX 4
    • 3 beds 2 baths ∙ 1,408 Sqft ∙ Built 1981 3 beds 2 baths ∙ 1,408 Sqft ∙ Built 1981
    LEASED 07/14/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $1.07
    •  
  • 8204 Ulster Drive North Richland Hills, TX 5
    • 3 beds 2 baths ∙ 1,511 Sqft ∙ Built 1980 3 beds 2 baths ∙ 1,511 Sqft ∙ Built 1980
    LEASED 02/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,575
    • $1.04
    •  
PROPERTY LISTING DETAILS
Clara Torres
Altru Realty, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14488774
Last Updated: 12/19/2020
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