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8349 Thornhill Drive North Richland Hills, TX 76182

3 Beds 3 Baths 3,082 sqft Built 1994

$430,000

List Price

$2,670

$2.4K - $2.9K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 25, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1994
  • Price/Sqft : $139.52
  • 4 Days on Market
  • MLS # : 14521321
  • Updated Date : 02/27/2021 at 12:17
CONSTRUCTION
  • Beds : 3
  • Floor Size : 3,082 sqft
  • Baths : 3 full
Listing Agent

Keller Williams Dallas Midtown

Listing Agent's Description

All offers to be submitted by 5 pm Saturday, February 27, 2021. The final decision will be made Sunday evening. Priced to sell fast in a highly sought-after community. This large well-maintained 3 bedroom, 3 bath house has walk-in closets in every room and a master bedroom with an office area. The back yard has a large pergola that opens up to a large backyard with a lovely waterfall pond area. Conveniently located near many shops and restaurants. Large windows in the front of the house and back of the house welcome the outdoors inside your home.

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
 

$387,000$473,000$430,000

PURCHASE PRICE

$2,403$2,937$2,670

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,670
EXPENSES Loan Payment -$1,494
Property Tax -$959
Property Insurance -$205
HOA -$17
Property Management Fees -$99
CASH FLOW
-$104

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.

$430,000

PROJECTED PRICE

$2,670

PROJECTED RENT

0.62%

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

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$119,700

INVESTMENT

$119,700

Down Payment
$107,500
Rehab Estimate
$5,750
Closing Costs
$6,450

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,494

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $107,500
Loan Amount $322,500
See What Happens When You Reinvest Cash Flow

3.08

YEARS SAVED

$11,016

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,670

    LIST RENT
  • $0.87

    LIST RENT PER SQFT
  • $2,982

    COMP ESTIMATED VALUE
  • $0.97

    COMP AVG. RENT PER SQFT
Comps Range
$2,670
1$2,6702$2,7003$2,7004$2,9005$3,250
$3,250
RENT COMPS ANALYSIS
  • 8349 Thornhill Drive North Richland Hills, TX 1
    • 3 beds 3 baths ∙ 3,082 Sqft ∙ Built 1994 3 beds 3 baths ∙ 3,082 Sqft ∙ Built 1994
    • Rent
    • Rent Per SQFT
    •  
    • $2,670
    • $0.87
    •  
  • 7809 Calvert Lane North Richland Hills, TX 2
    • 4 beds 3 baths ∙ 2,772 Sqft ∙ Built 1990 4 beds 3 baths ∙ 2,772 Sqft ∙ Built 1990
    LEASED 09/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $0.97
    •  
  • 1211 Ranch Court Keller, TX 3
    • 4 beds 3 baths ∙ 2,794 Sqft ∙ Built 1999 4 beds 3 baths ∙ 2,794 Sqft ∙ Built 1999
    LEASED 10/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $0.97
    •  
  • 8312 Vine Wood Drive North Richland Hills, TX 4
    • 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
    •  
  • 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
Pedro Vergara
Keller Williams Dallas Midtown
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14521321
Last Updated: 02/27/2021
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