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8729 Mcdonough Street North Richland Hills, TX 76180

4 Beds 4 Baths 2,950 sqft Built 2017

$548,000

List Price

$2,680

$2.4K - $2.9K

Rent Est.

PROPERTY INFO

December 13, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2017
  • Price/Sqft : $185.76
  • 1 Days on Market
  • MLS # : 14483397
  • Updated Date : 12/12/2020 at 23:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,950 sqft
  • Baths : 3 full , 1 half
Listing Agent

Exp Realty Llc

Listing Agent's Description

This elegant 4 bed 4.5 bath home is visually astounding located in the urban Home Town community. This beautiful home has pristine hardwood floors, high ceilings, stunning kitchen with 6 gas burner stove, and double oven. Set apart from others with its clever use of space, and elegant flow. Large media or game room upstairs, and there is plenty of work-from-home space. Large fenced yard, large garage and outside sitting area for entertaining. Extraordinary living surrounded by schools, shopping, dining, parks, lakes and trails.

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: Home Town

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $115k336k

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

Neighborhood: Home Town

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
Walker Creek Elementary School Primary Regular 653 44 7
Smithfield Middle School Middle Regular 818 49 10
Birdville High School High Regular 2,083 125 7

Walker Creek Elementary School

  • Education Level: Primary
  • # of students: 653
  • # of teachers: 44
7
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
 

$493,200$602,800$548,000

PURCHASE PRICE

$2,412$2,948$2,680

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,680
EXPENSES Loan Payment -$2,022
Property Tax -$1,203
Property Insurance -$198
HOA -$143
Property Management Fees -$99
CASH FLOW
-$984

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.

$548,000

PROJECTED PRICE

$2,680

PROJECTED RENT

0.49%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 7.7%
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-$20k-$15k-$10k-$5.0k$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$150,970

INVESTMENT

$150,970

Down Payment
$137,000
Rehab Estimate
$5,750
Closing Costs
$8,220

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 100% down payment or higher enables the proceeds from the asset to cover all costs.

$2,022

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $137,000
Loan Amount $411,000
See What Happens When You Reinvest Cash Flow

-0.08

YEARS SAVED

-$21

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,680

    LIST RENT
  • $0.91

    LIST RENT PER SQFT
  • $2,744

    COMP ESTIMATED VALUE
  • $0.93

    COMP AVG. RENT PER SQFT
Comps Range
$2,680
1$2,6802$2,7503$2,8954$2,9005$2,975
$2,975
RENT COMPS ANALYSIS
  • 8729 Mcdonough Street North Richland Hills, TX 1
    • 4 beds 4 baths ∙ 2,950 Sqft ∙ Built 2017 4 beds 4 baths ∙ 2,950 Sqft ∙ Built 2017
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,680
    • $0.91
    •  
  • 8501 Newman Drive North Richland Hills, TX 2
    • 3 beds 3 baths ∙ 3,078 Sqft ∙ Built 2003 3 beds 3 baths ∙ 3,078 Sqft ∙ Built 2003
    property image
    LEASED 06/17/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,750
    • $0.89
    •  
  • 6209 Winter Park Drive North Richland Hills, TX 3
    • 4 beds 3 baths ∙ 3,261 Sqft ∙ Built 2006 4 beds 3 baths ∙ 3,261 Sqft ∙ Built 2006
    property image
    LEASED 03/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,895
    • $0.89
    •  
  • 8505 Olmstead Terrace North Richland Hills, TX 4
    • 3 beds 3 baths ∙ 3,195 Sqft ∙ Built 2002 3 beds 3 baths ∙ 3,195 Sqft ∙ Built 2002
    property image
    LEASED 10/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,900
    • $0.91
    •  
  • 8517 Newman Drive North Richland Hills, TX 5
    • 4 beds 3 baths ∙ 2,888 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,888 Sqft ∙ Built 2004
    property image
    LEASED 08/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,975
    • $1.03
    •  
PROPERTY LISTING DETAILS
Sandra Hunt
Exp Realty Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14483397
Last Updated: 12/12/2020
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