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8504 Freedom Way North Richland Hills, TX 76182

4 Beds 4 Baths 3,668 sqft Built 2007

$399,000

List Price

$3,070

$2.8K - $3.3K

Rent Est.

PROPERTY INFO

February 12, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2007
  • Price/Sqft : $108.78
  • 3 Days on Market
  • MLS # : 14515300
  • Updated Date : 02/12/2021 at 19:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,668 sqft
  • Baths : 3 full , 1 half
Listing Agent

The Wall Team Realty Assoc

Listing Agent's Description

LIGHT AND BRIGHT 2 story home right off Davis Blvd and minutes away from Northfield Park and Green Valley Park. Soaring ceilings welcome you on entering with hardwood floors in the dining and living area. Large windows flood the house with natural light and views of the backyard. Oversized kitchen hosts gorgeous granite countertops, island, ss appliances, and gas cooktop. Private office accessed through the garage. The owner's retreat has plenty of room for a sitting area and features a garden tub, dual sinks, and separate shower. Game room and media room that could be used as 4th bedroom up. The backyard is great for entertaining guests on the covered patio as well as the decked area. Birdville ISD!

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: Liberty Village

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340kPrice in $104k348k

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

Neighborhood: Liberty Village

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100012001400160018002000220024002600Rent in $9192724

* 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
Smithfield Elementary School Primary Regular 437 30 9
Smithfield Middle School Middle Regular 818 49 10
Birdville High School High Regular 2,083 125 7

Smithfield Elementary School

  • Education Level: Primary
  • # of students: 437
  • # of teachers: 30
9
GreatSchools Rating

Smithfield Middle School

  • Education Level: Middle
  • # of students: 818
  • # of teachers: 49
10
GreatSchools Rating

Birdville High School

  • Education Level: High
  • # of students: 2,083
  • # of teachers: 125
7
GreatSchools Rating
 

$359,100$438,900$399,000

PURCHASE PRICE

$2,763$3,377$3,070

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,070
EXPENSES Loan Payment -$1,386
Property Tax -$1,001
Property Insurance -$239
HOA -$42
Property Management Fees -$99
CASH FLOW
$303

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.

$399,000

PROJECTED PRICE

$3,070

PROJECTED RENT

0.77%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 7.0%
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

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k

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$111,485

INVESTMENT

$111,485

Down Payment
$99,750
Rehab Estimate
$5,750
Closing Costs
$5,985

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,386

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $99,750
Loan Amount $299,250
See What Happens When You Reinvest Cash Flow

7.67

YEARS SAVED

$40,434

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,070

    LIST RENT
  • $0.84

    LIST RENT PER SQFT
  • $3,265

    COMP ESTIMATED VALUE
  • $0.89

    COMP AVG. RENT PER SQFT
Comps Range
$2,695
1$2,6952$3,0003$3,0704$3,2005$3,250
$3,250
RENT COMPS ANALYSIS
  • 8504 Freedom Way North Richland Hills, TX 3
    • 4 beds 4 baths ∙ 3,668 Sqft ∙ Built 2007 4 beds 4 baths ∙ 3,668 Sqft ∙ Built 2007
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $3,070
    • $0.84
    •  
  • 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
    property image
    LEASED 10/16/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,695
    • $0.76
    •  
  • 8105 Seville Drive North Richland Hills, TX 2
    • 4 beds 3 baths ∙ 3,427 Sqft ∙ Built 2006 4 beds 3 baths ∙ 3,427 Sqft ∙ Built 2006
    property image
    LEASED 08/26/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $0.88
    •  
  • 1212 Elmgrove Lane Keller, TX 4
    • 5 beds 3 baths ∙ 3,407 Sqft ∙ Built 2001 5 beds 3 baths ∙ 3,407 Sqft ∙ Built 2001
    property image
    LEASED 06/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $0.94
    •  
  • 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
    property image
    LEASED 08/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,250
    • $0.98
    •  
PROPERTY LISTING DETAILS
Laurie Wall
The Wall Team Realty Assoc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14515300
Last Updated: 02/12/2021
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