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8517 Revenue Way North Richland Hills, TX 76182

5 Beds 5 Baths 3,378 sqft Built 2012

$515,000

List Price

$3,330

$3.1K - $3.6K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 28, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2012
  • Price/Sqft : $152.46
  • 1 Days on Market
  • MLS # : 14540807
  • Updated Date : 03/28/2021 at 00:08
CONSTRUCTION
  • Beds : 5
  • Floor Size : 3,378 sqft
  • Baths : 4 full , 1 half
Listing Agent

Berkshire Hathawayhs Worldwide

Listing Agent's Description

This has everything a growing family needs. 5 bedrooms, 4.5 baths, media room with wet bar, beautiful pool, double garage with separate golf cart storage or just use as extra storage. Beautiful spiral staircase in the entry with real hardwood on the treads of the stairs, in the kitchen, living and dining room. Granite countertops in the kitchen and downstairs baths. Open plan with large island in the kitchen overlooking the dining room and living room with beautiful fireplace. Private backyard with gunite pool with a tanning ledge and waterfall. Too many extras to list. Stainless refrigerator in the kitchen stays. Schools and measurements to be verified by Buyer. Professional photos coming soon.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • . 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)

PRICE & RENT TRENDS

Neighborhood: Liberty Village

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340kPrice in $123k348k

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

Neighborhood: Liberty Village

NeighborhoodNIR Market*CityMarket2010Year20002019 Q212001400160018002000220024002600Rent in $10412724

* 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
 

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

PURCHASE PRICE

$2,997$3,663$3,330

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,330
EXPENSES Loan Payment -$1,789
Property Tax -$1,130
Property Insurance -$222
HOA -$42
Property Management Fees -$99
CASH FLOW
$48

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

$3,330

PROJECTED RENT

0.65%

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$1.6M

PROJECTED ANNUAL CASH FLOW

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

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$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 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,789

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $128,750
Loan Amount $386,250
See What Happens When You Reinvest Cash Flow

4.58

YEARS SAVED

$24,935

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,330

    LIST RENT
  • $0.99

    LIST RENT PER SQFT
  • $3,268

    COMP ESTIMATED VALUE
  • $0.97

    COMP AVG. RENT PER SQFT
Comps Range
$2,900
1$2,9002$3,2003$3,2504$3,3305$3,395
$3,395
RENT COMPS ANALYSIS
  • 8517 Revenue Way North Richland Hills, TX 4
    • 5 beds 5 baths ∙ 3,378 Sqft ∙ Built 2012 5 beds 5 baths ∙ 3,378 Sqft ∙ Built 2012
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $3,330
    • $0.99
    •  
  • 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
    property image
    LEASED 08/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,900
    • $0.95
    •  
  • 1212 Elmgrove Lane Keller, TX 2
    • 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 3
    • 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
    •  
  • 1314 Haddington Lane Keller, TX 5
    • 4 beds 4 baths ∙ 3,383 Sqft ∙ Built 2001 4 beds 4 baths ∙ 3,383 Sqft ∙ Built 2001
    property image
    LEASED 01/01/21
    • Rent
    • Rent Per SQFT
    •  
    • $3,395
    • $1.00
    •  
PROPERTY LISTING DETAILS
Debbie Burda
Berkshire Hathawayhs Worldwide
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14540807
Last Updated: 03/28/2021
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