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8301 Thorndyke Drive North Richland Hills, TX 76182

3 Beds 3 Baths 3,328 sqft Built 1998

$625,000

List Price

$3,060

$2.8K - $3.3K

Rent Est.

PROPERTY INFO

February 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1998
  • Price/Sqft : $187.80
  • 2 Days on Market
  • MLS # : 14517605
  • Updated Date : 02/14/2021 at 00:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 3,328 sqft
  • Baths : 3 full
Listing Agent

Berkshire Hathawayhs Acr

Listing Agent's Description

Spectacular home on corner lot loaded with amenities and a pool. Amazing detail throughout from custom door to elegant foyer, & wood trim. Wood floors in full dining & formal living. Spacious family room with built-ins features beautiful stone fp with wood accents. Chef's kitchen has granite island, commercial-grade gas stove, & breakfast room. Owner's suite features 2 massive walk-ins, an elegant bath with double vanities & separate tub. Covered patio opens to lovely pool & spa. A car lover's dream with extra garage with 2 lifts that will accommodate 4 cars plus 3 car attached garage. Extra garage could be converted for multiple uses. Study could be 4th bed. Circular drive & landscaped yard.

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: Thornbridge

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450kPrice in $123k468k

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

Neighborhood: Thornbridge

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21200140016001800200022002400260028003000Rent in $10413182

* 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
Keller High School High Regular 2,645 145 10
Liberty Elementary School Primary Unknown NA

Liberty Elementary School

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

Keller High School

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

Liberty Elementary School

  • Education Level: Primary
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$562,500$687,500$625,000

PURCHASE PRICE

$2,754$3,366$3,060

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,060
EXPENSES Loan Payment -$2,171
Property Tax -$1,372
Property Insurance -$220
HOA -$17
Property Management Fees -$99
CASH FLOW
-$818

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.

$625,000

PROJECTED PRICE

$3,060

PROJECTED RENT

0.49%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 2.5%
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

PROJECTED ANNUAL CASH FLOW

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

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$171,375

INVESTMENT

$171,375

Down Payment
$156,250
Rehab Estimate
$5,750
Closing Costs
$9,375

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 80% down payment or higher enables the proceeds from the asset to cover all costs.

$2,171

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $156,250
Loan Amount $468,750
See What Happens When You Reinvest Cash Flow

0.08

YEARS SAVED

$37

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,060

    LIST RENT
  • $0.92

    LIST RENT PER SQFT
  • $3,120

    COMP ESTIMATED VALUE
  • $0.94

    COMP AVG. RENT PER SQFT
Comps Range
$2,850
1$2,8502$2,9003$3,0004$3,0605$3,250
$3,250
RENT COMPS ANALYSIS
  • 8301 Thorndyke Drive North Richland Hills, TX 4
    • 3 beds 3 baths ∙ 3,328 Sqft ∙ Built 1998 3 beds 3 baths ∙ 3,328 Sqft ∙ Built 1998
    • Rent
    • Rent Per SQFT
    •  
    • $3,060
    • $0.92
    •  
  • 3125 Hurstview Drive Hurst, TX 1
    • 4 beds 3 baths ∙ 3,026 Sqft ∙ Built 1984 4 beds 3 baths ∙ 3,026 Sqft ∙ Built 1984
    LEASED 10/02/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,850
    • $0.94
    •  
  • 8312 Vine Wood Drive North Richland Hills, TX 2
    • 4 beds 4 baths ∙ 3,060 Sqft ∙ Built 2003 4 beds 4 baths ∙ 3,060 Sqft ∙ Built 2003
    LEASED 08/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,900
    • $0.95
    •  
  • 8105 Seville Drive North Richland Hills, TX 3
    • 4 beds 3 baths ∙ 3,427 Sqft ∙ Built 2006 4 beds 3 baths ∙ 3,427 Sqft ∙ Built 2006
    LEASED 08/26/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $0.88
    •  
  • 8421 Grand View Drive North Richland Hills, TX 5
    • 4 beds 4 baths ∙ 3,321 Sqft ∙ Built 2001 4 beds 4 baths ∙ 3,321 Sqft ∙ Built 2001
    LEASED 08/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,250
    • $0.98
    •  
PROPERTY LISTING DETAILS
Alexander Chandler
Berkshire Hathawayhs Acr
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14517605
Last Updated: 02/14/2021
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