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8309 Southridge Court North Richland Hills, TX 76182

3 Beds 3 Baths 3,210 sqft Built 2003

INVESTimate

$515,000

List Price

$2,970

$2,720 - $3,220

Rent Est.

$540,647  ( +4.98%)   1 YR EST. FORECAST

PROPERTY INFO

FACTS
  • Built In 2003
  • Price/Sqft : $160.44
  • 9 Days on Market
  • MLS # : 14414622
  • Updated Date : 08/20/2020 at 15:22
CONSTRUCTION
  • Beds : 3
  • Floor Size : 3,210 sqft
  • Baths : 3 full
Listing Agent

Engel&voelkers Dallas Southlke

Listing Agent's Description

Rare Find! Forest Glenn East addition. Beautiful 1.5 Story home with pool and spa. This property is assigned to Keller ISD. Located near Davis and North Tarrant offers great access to all DFW attractions. Great for entertaining with exquisite finishes throughout. Large kitchen includes gas range, island and seating at the bar. The main living room overlooks the sparkling pool in the backyard. Owners suite is tucked away from other rooms for privacy. Guest rooms are on main floor with a bonus game-media room upstairs. Don't miss the large utility room and 3 car side entry garages! This is a must see property!

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
 

$463,500$566,500$515,000

PURCHASE PRICE

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

RENT

DOWN PAYMENT
FINANCING

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-$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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,970
EXPENSES Loan Payment -$1,900
Property Tax -$1,130
Property Insurance -$213
HOA -$10
Property Management Fees -$99
CASH FLOW
-$382

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.

$515,000

PROJECTED PRICE

$2,970

PROJECTED RENT

0.58%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 4.98%
Maintenance Year (1-5) 8.00%
Vacancy 6.93%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$142,225

INVESTMENT

$142,225

Down Payment
$128,750
Rehab Estimate
$5,750
Closing Costs
$7,725

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,900

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $128,750
Loan Amount $386,250
See What Happens When You Reinvest Cash Flow

1.33

YEARS SAVED

$4,138

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
  • $0.93

    LIST RENT PER SQFT
  • $3,033

    COMP ESTIMATED VALUE
  • $0.95

    COMP AVG. RENT PER SQFT
Comps Range
$2,900
1$2,9002$2,9703$3,0004$3,1005$3,250
$3,250
RENT COMPS ANALYSIS
  • 8309 Southridge Court North Richland Hills, TX 2
    • 3 beds 3 baths ∙ 3,210 Sqft ∙ Built 2003 3 beds 3 baths ∙ 3,210 Sqft ∙ Built 2003
    • Rent
    • Rent Per SQFT
    •  
    • $2,970
    • $0.93
    •  
  • 8312 Vine Wood Drive North Richland Hills, TX 1
    • 4 beds 4 baths ∙ 3,060 Sqft ∙ Built 2003 4 beds 4 baths ∙ 3,060 Sqft ∙ Built 2003
    LEASED 07/30/20
    • 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
    •  
  • 8412 Grand View Drive North Richland Hills, TX 4
    • 4 beds 3 baths ∙ 3,200 Sqft ∙ Built 1998 4 beds 3 baths ∙ 3,200 Sqft ∙ Built 1998
    LEASED 06/05/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,100
    • $0.97
    •  
  • 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 07/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,250
    • $0.98
    •  
PROPERTY LISTING DETAILS
Kevin Holmes
Engel&voelkers Dallas Southlke
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14414622
Last Updated: 08/20/2020
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