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8700 Whitestone Road North Richland Hills, TX 76182

4 Beds 3 Baths 3,011 sqft Built 2021

$629,000

List Price

$2,940

$2.7K - $3.2K

Rent Est.

PROPERTY INFO

Built 2021 NEW CONSTRUCTION
SINGLE-FAMILY
March 20, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2021
  • Price/Sqft : $208.90
  • 2 Days on Market
  • MLS # : 14536292
  • Updated Date : 03/20/2021 at 18:01
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,011 sqft
  • Baths : 3 full
Listing Agent

Jp And Associates Southlake

Listing Agent's Description

OPEN HOUSE Mar 21, from 1-3pm at the MODEL HOME - 8540 FRESH MEADOWS. Build your DREAM HOME. Excellent Keller ISD!!! Elegantly designed with richness & sophistication. Open floor concept with custom wood cabinets in kitchen, bath & utility rooms & luxury white Calcutta quartz countertops. Stainless appliances & brushed nickel hardware throughout. Beautiful curb appeal & breathtaking upon entry with cedar wood beams to accent living room & master bedroom ceilings. Home can be custom designed with your unique finish out selections. Just minutes from Target, movies & local restaurants. This property will be move-in ready by Dec 2021-Jan 2022. PICTURES SHOWN ARE FROM OUR MODEL HOME - Visit 8540 FRESH MEADOWS TODAY!

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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

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
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
 

$566,100$691,900$629,000

PURCHASE PRICE

$2,646$3,234$2,940

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,940
EXPENSES Loan Payment -$2,185
Property Tax -$1,380
Property Insurance -$201
HOA -$50
Property Management Fees -$99
CASH FLOW
-$975

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 10% of earned rent to cover both maintenance and periods of vacancy.

$629,000

PROJECTED PRICE

$2,940

PROJECTED RENT

0.47%

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) 3.00%
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$1.8M

PROJECTED ANNUAL CASH FLOW

11530-$18k-$16k-$14k-$12k-$10k-$8.0k-$6.0k-$4.0k-$2.0k$0.0

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$1.8M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$168,685

INVESTMENT

$168,685

Down Payment
$157,250
Rehab Estimate
$2,000
Closing Costs
$9,435

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 80% down payment or higher enables the proceeds from the asset to cover all costs.

$2,185

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $157,250
Loan Amount $471,750
See What Happens When You Reinvest Cash Flow

-0.08

YEARS SAVED

-$6

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,940

    LIST RENT
  • $0.98

    LIST RENT PER SQFT
  • $2,943

    COMP ESTIMATED VALUE
  • $0.98

    COMP AVG. RENT PER SQFT
Comps Range
$2,495
1$2,4952$2,9003$2,9404$3,0005$3,250
$3,250
RENT COMPS ANALYSIS
  • 8700 Whitestone Road North Richland Hills, TX 3
    • 4 beds 3 baths ∙ 3,011 Sqft ∙ Built 2021 4 beds 3 baths ∙ 3,011 Sqft ∙ Built 2021
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,940
    • $0.98
    •  
  • 1403 Ashmore Court Keller, TX 1
    • 4 beds 3 baths ∙ 2,667 Sqft ∙ Built 2001 4 beds 3 baths ∙ 2,667 Sqft ∙ Built 2001
    property image
    LEASED 10/07/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,495
    • $0.94
    •  
  • 8312 Vine Wood Drive North Richland Hills, TX 2
    • 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
    •  
  • 7024 Benjamin Way Colleyville, TX 4
    • 3 beds 3 baths ∙ 2,894 Sqft ∙ Built 2014 3 beds 3 baths ∙ 2,894 Sqft ∙ Built 2014
    property image
    LEASED 01/22/21
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $1.04
    •  
  • 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
Heidi Ferrell
Jp And Associates Southlake
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14536292
Last Updated: 03/20/2021
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