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8629 Wishing Tree Lane North Richland Hills, TX 76182

4 Beds 3 Baths 2,703 sqft Built 2006

$460,000

List Price

$2,500

$2.3K - $2.8K

Rent Est.

PROPERTY INFO

November 12, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2006
  • Price/Sqft : $170.18
  • 4 Days on Market
  • MLS # : 14467441
  • Updated Date : 11/12/2020 at 18:49
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,703 sqft
  • Baths : 3 full
Listing Agent

Clark Real Estate Group

Listing Agent's Description

Never before on the market! The sellers had this custom home built in 2006 and the pride in ownership is obvious not only from the curb, but throughout the home. The open concept layout features 4 bedrooms, 3 full baths, and a 3-car garage; all with exceptional finish quality. The owner’s suite is huge with a luxurious master bath. Kitchen with island, custom cabinets, and granite countertops. Beautiful hardwood in much of the home. The shaded back patio offers a sanctuary to retreat to after a long day’s work. The manicured lawn and picture-perfect landscaping complete the property making it an easy choice even for the most discerning buyer. Whispering Oaks is a great neighborhood with a convenient location!

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

Zip Code: 76182

ZipNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320kPrice in $123k336k

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

Zip Code: 76182

ZipNIR 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
 

$414,000$506,000$460,000

PURCHASE PRICE

$2,250$2,750$2,500

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,500
EXPENSES Loan Payment -$1,697
Property Tax -$1,009
Property Insurance -$183
HOA -$17
Property Management Fees -$99
CASH FLOW
-$506

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.

$460,000

PROJECTED PRICE

$2,500

PROJECTED RENT

0.54%

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-$12k-$10k-$8.0k-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$127,650

INVESTMENT

$127,650

Down Payment
$115,000
Rehab Estimate
$5,750
Closing Costs
$6,900

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 75% down payment or higher enables the proceeds from the asset to cover all costs.

$1,697

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $115,000
Loan Amount $345,000
See What Happens When You Reinvest Cash Flow

0.42

YEARS SAVED

$606

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,500

    LIST RENT
  • $0.92

    LIST RENT PER SQFT
  • $2,730

    COMP ESTIMATED VALUE
  • $1.01

    COMP AVG. RENT PER SQFT
Comps Range
$2,295
1$2,2952$2,5003$2,7004$2,9505$2,950
$2,950
RENT COMPS ANALYSIS
  • 8629 Wishing Tree Lane North Richland Hills, TX 2
    • 4 beds 2 baths ∙ 2,703 Sqft ∙ Built 2006 4 beds 2 baths ∙ 2,703 Sqft ∙ Built 2006
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.92
    •  
  • 7209 E Nirvana Circle North Richland Hills, TX 1
    • 3 beds 3 baths ∙ 2,375 Sqft ∙ Built 2015 3 beds 3 baths ∙ 2,375 Sqft ∙ Built 2015
    property image
    LEASED 03/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,295
    • $0.97
    •  
  • 7129 Stone Villa Circle North Richland Hills, TX 3
    • 3 beds 3 baths ∙ 2,739 Sqft ∙ Built 2006 3 beds 3 baths ∙ 2,739 Sqft ∙ Built 2006
    property image
    LEASED 07/23/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $0.99
    •  
  • 2932 Oak Ridge Drive Hurst, TX 4
    • 4 beds 3 baths ∙ 2,767 Sqft ∙ Built 1990 4 beds 3 baths ∙ 2,767 Sqft ∙ Built 1990
    property image
    LEASED 01/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,950
    • $1.07
    •  
  • 7149 Stone Villa Circle North Richland Hills, TX 5
    • 4 beds 4 baths ∙ 2,920 Sqft ∙ Built 2007 4 beds 4 baths ∙ 2,920 Sqft ∙ Built 2007
    property image
    LEASED 06/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,950
    • $1.01
    •  
PROPERTY LISTING DETAILS
Joel Taylor
Clark Real Estate Group
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14467441
Last Updated: 11/12/2020
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