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8308 Fern Leaf Court North Richland Hills, TX 76182

5 Beds 3 Baths 3,799 sqft Built 2002

$595,000

List Price

$3,140

$2.9K - $3.4K

Rent Est.

PROPERTY INFO

November 27, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2002
  • Price/Sqft : $156.62
  • 3 Days on Market
  • MLS # : 14477708
  • Updated Date : 11/27/2020 at 18:00
CONSTRUCTION
  • Beds : 5
  • Floor Size : 3,799 sqft
  • Baths : 3 full
Listing Agent

Texas Property Brokers, Llc

Listing Agent's Description

Beautiful cul-de-sac home in Keller ISD within a short walk from trails and 9 acre park! Home features brand new flooring on first floor, newly painted cabinets and extensive decorative molding. Open floor plan in kitchen & family room that is perfect for entertaining with SS appliances, granite, double ovens and gourmet gas cooktop. 3 large living areas, five bedrooms, master and en-suite bedrooms on first floor. Many energy efficient windows throughout home to view the large private backyard with salt water pool, pergola and beautiful landscaping. Large master suite has garden tub, separate two person shower and huge walk in closet. Plantation shutters, gas fireplace and storage closets throughout.

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*CityMarket2010Year20002019150k200k250k300k350k400kPrice in $104k426k

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

Neighborhood: Forest Glenn

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100012001400160018002000220024002600Rent in $9192720

* 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
 

$535,500$654,500$595,000

PURCHASE PRICE

$2,826$3,454$3,140

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,140
EXPENSES Loan Payment -$2,195
Property Tax -$1,306
Property Insurance -$247
HOA -$10
Property Management Fees -$99
CASH FLOW
-$717

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.

$595,000

PROJECTED PRICE

$3,140

PROJECTED RENT

0.53%

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

PROJECTED ANNUAL CASH FLOW

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

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$163,425

INVESTMENT

$163,425

Down Payment
$148,750
Rehab Estimate
$5,750
Closing Costs
$8,925

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 75% down payment or higher enables the proceeds from the asset to cover all costs.

$2,195

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $148,750
Loan Amount $446,250
See What Happens When You Reinvest Cash Flow

0.25

YEARS SAVED

$315

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,140

    LIST RENT
  • $0.83

    LIST RENT PER SQFT
  • $3,134

    COMP ESTIMATED VALUE
  • $0.83

    COMP AVG. RENT PER SQFT
Comps Range
$2,695
1$2,6952$2,9003$2,9504$3,1405$3,300
$3,300
RENT COMPS ANALYSIS
  • 8308 Fern Leaf Court North Richland Hills, TX 4
    • 5 beds 3 baths ∙ 3,799 Sqft ∙ Built 2002 5 beds 3 baths ∙ 3,799 Sqft ∙ Built 2002
    • Rent
    • Rent Per SQFT
    •  
    • $3,140
    • $0.83
    •  
  • 8105 Fireside Drive North Richland Hills, TX 1
    • 5 beds 3 baths ∙ 3,538 Sqft ∙ Built 1989 5 beds 3 baths ∙ 3,538 Sqft ∙ Built 1989
    LEASED 10/16/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,695
    • $0.76
    •  
  • 2004 Fox Meadow Drive Keller, TX 2
    • 4 beds 4 baths ∙ 3,517 Sqft ∙ Built 1999 4 beds 4 baths ∙ 3,517 Sqft ∙ Built 1999
    LEASED 07/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,900
    • $0.82
    •  
  • 2501 Drake Court Keller, TX 3
    • 5 beds 3 baths ∙ 3,451 Sqft ∙ Built 2001 5 beds 3 baths ∙ 3,451 Sqft ∙ Built 2001
    LEASED 07/09/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,950
    • $0.85
    •  
  • 605 Signet Court Keller, TX 5
    • 4 beds 4 baths ∙ 3,800 Sqft ∙ Built 1998 4 beds 4 baths ∙ 3,800 Sqft ∙ Built 1998
    LEASED 09/30/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,300
    • $0.87
    •  
PROPERTY LISTING DETAILS
Angie Gabel
Texas Property Brokers, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14477708
Last Updated: 11/27/2020
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