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8305 Thornbrook Court North Richland Hills, TX 76182

3 Beds 3 Baths 3,012 sqft Built 2000

$489,900

List Price

$2,970

$2.7K - $3.2K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 06, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2000
  • Price/Sqft : $162.65
  • 3 Days on Market
  • MLS # : 14518678
  • Updated Date : 03/06/2021 at 14:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 3,012 sqft
  • Baths : 3 full
Listing Agent

Jp And Associates Southlake

Listing Agent's Description

Check out this amazing one story home tucked within a quiet culdesac in Thornbridge. Located in the heart of North Richland Hills, this wonderful home offers three bedrooms, three baths and a three car garage. Home includes a generous open concept kitchen, formal dining and study with passthrough fireplace. Owners suite provides private outdoor access to backyard and two walk in closets. Additional bedrooms are spaced across a split floorplan. Bedroom one offers a private ensuite bath and built in desk. Bedroom two includes a walk in closet and attached full bath with passthrough access to the hallway. This amazing property is made complete with lush mature trees that shade an expansive backyard retreat.

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: 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
 

$440,910$538,890$489,900

PURCHASE PRICE

$2,673$3,267$2,970

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,970
EXPENSES Loan Payment -$1,702
Property Tax -$1,075
Property Insurance -$201
HOA -$19
Property Management Fees -$99
CASH FLOW
-$126

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.

$489,900

PROJECTED PRICE

$2,970

PROJECTED RENT

0.61%

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

PROJECTED ANNUAL CASH FLOW

11530-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$135,574

INVESTMENT

$135,574

Down Payment
$122,475
Rehab Estimate
$5,750
Closing Costs
$7,349

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,702

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $122,475
Loan Amount $367,425
See What Happens When You Reinvest Cash Flow

3.08

YEARS SAVED

$12,423

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,970

    LIST RENT
  • $0.99

    LIST RENT PER SQFT
  • $3,012

    COMP ESTIMATED VALUE
  • $1

    COMP AVG. RENT PER SQFT
Comps Range
$2,895
1$2,8952$2,9003$2,9704$3,0005$3,250
$3,250
RENT COMPS ANALYSIS
  • 8305 Thornbrook Court North Richland Hills, TX 3
    • 3 beds 3 baths ∙ 3,012 Sqft ∙ Built 2000 3 beds 3 baths ∙ 3,012 Sqft ∙ Built 2000
    • Rent
    • Rent Per SQFT
    •  
    • $2,970
    • $0.99
    •  
  • 8408 La Fontaine Drive North Richland Hills, TX 1
    • 4 beds 3 baths ∙ 2,813 Sqft ∙ Built 2012 4 beds 3 baths ∙ 2,813 Sqft ∙ Built 2012
    LEASED 03/03/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,895
    • $1.03
    •  
  • 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
    •  
  • 7024 Benjamin Way Colleyville, TX 4
    • 3 beds 3 baths ∙ 2,894 Sqft ∙ Built 2014 3 beds 3 baths ∙ 2,894 Sqft ∙ Built 2014
    LEASED 01/22/21
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $1.04
    •  
  • 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
Macy Williams
Jp And Associates Southlake
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14518678
Last Updated: 03/06/2021
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