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8529 Ellis Drive North Richland Hills, TX 76182

4 Beds 2 Baths 2,061 sqft Built 1990

INVESTimate

$276,000

List Price

$2,080

$1,872 - $2,288

Rent Est.

$295,237  ( +6.97%)   1 YR EST. FORECAST

PROPERTY INFO

FACTS
  • Built In 1990
  • Price/Sqft : $133.92
  • 9 Days on Market
  • MLS # : 14414977
  • Updated Date : 08/22/2020 at 21:40
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,061 sqft
  • Baths : 2 full
Listing Agent

1st Choice Real Estate

Listing Agent's Description

TENANTS IN PLACE UNTIL 12.13.2020. SEE SUPPLEMENTS! Lovely home in an established neighborhood, cul-de-sac, large trees, large fenced back yard with a patio plus a sun room! 4 bedrooms in a split-style and an updated master bathroom. Enjoy the living area fireplace and large space with two dining areas and loads of space in the kitchen cabinets! This is a great home that is ready for its new owner! Be close to parks, dining, shopping, but still tucked away on a quiet street. A real gem! *Info deemed accurate; verify for confirmation.

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: Meadowview Estates

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320kPrice in $123k336k

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

Neighborhood: Meadowview Estates

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800190020002100Rent in $10412171

* 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
 

$248,400$303,600$276,000

PURCHASE PRICE

$1,872$2,288$2,080

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,080
EXPENSES Loan Payment -$1,018
Property Tax -$606
Property Insurance -$146
Property Management Fees -$99
CASH FLOW
$211

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.

$276,000

PROJECTED PRICE

$2,080

PROJECTED RENT

0.75%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 6.97%
Maintenance Year (1-5) 8.00%
Vacancy 6.93%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$78,890

INVESTMENT

$78,890

Down Payment
$69,000
Rehab Estimate
$5,750
Closing Costs
$4,140

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,018

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $69,000
Loan Amount $207,000
See What Happens When You Reinvest Cash Flow

8.33

YEARS SAVED

$35,624

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,080

    LIST RENT
  • $1.01

    LIST RENT PER SQFT
  • $2,030

    COMP ESTIMATED VALUE
  • $0.99

    COMP AVG. RENT PER SQFT
Comps Range
$1,850
1$1,8502$1,9003$1,9504$1,9955$2,080
$2,080
RENT COMPS ANALYSIS
  • 8529 Ellis Drive North Richland Hills, TX 5
    • 4 beds 2 baths ∙ 2,061 Sqft ∙ Built 1990 4 beds 2 baths ∙ 2,061 Sqft ∙ Built 1990
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,080
    • $1.01
    •  
  • 7508 Northfield Drive North Richland Hills, TX 1
    • 4 beds 2 baths ∙ 1,850 Sqft ∙ Built 1981 4 beds 2 baths ∙ 1,850 Sqft ∙ Built 1981
    property image
    LEASED 07/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $1.00
    •  
  • 7225 Cross Keys Drive North Richland Hills, TX 2
    • 3 beds 2 baths ∙ 1,910 Sqft ∙ Built 1993 3 beds 2 baths ∙ 1,910 Sqft ∙ Built 1993
    property image
    LEASED 12/05/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.99
    •  
  • 7632 Hunt Drive North Richland Hills, TX 3
    • 3 beds 2 baths ∙ 1,958 Sqft ∙ Built 1982 3 beds 2 baths ∙ 1,958 Sqft ∙ Built 1982
    property image
    LEASED 01/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $1.00
    •  
  • 7604 Ford Drive North Richland Hills, TX 4
    • 3 beds 2 baths ∙ 2,090 Sqft ∙ Built 1983 3 beds 2 baths ∙ 2,090 Sqft ∙ Built 1983
    property image
    LEASED 07/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.95
    •  
PROPERTY LISTING DETAILS
Amanda Collins
1st Choice Real Estate
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14414977
Last Updated: 08/22/2020
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