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8917 Thornway Drive North Richland Hills, TX 76182

4 Beds 3 Baths 3,452 sqft Built 2001

$548,877

List Price

$3,340

$3.1K - $3.6K

Rent Est.

PROPERTY INFO

November 07, 2020 RECENTLY ADDED
FACTS
  • Built In 2001
  • Price/Sqft : $159.00
  • 2 Days on Market
  • MLS # : 14467563
  • Updated Date : 11/08/2020 at 00:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,452 sqft
  • Baths : 3 full
Listing Agent

Ebby Halliday, Realtors

Listing Agent's Description

ABSOLUTELY STUNNING CUSTOM home in Thornbridge. Attention has been paid to every detail. Extensive crown moldings, beautiful updated flooring and baseboards, gorgeous built in custom cabinetry, and plantation shutters. The 4th bedroom could be used as a gameroom, 2nd master, 2nd living, or media room. Large mudroom, walk in pantry, 3 Gorgeous updated bathrooms with stone countertop vanities. Backyard oasis with gorgeous saltwater diving pool. Storm shelter in the garage, garage sink, extensive pegboard, work bench. This home is gorgeous and has been meticulously maintained.

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: Thornbridge

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450kPrice in $104k468k

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

Neighborhood: Thornbridge

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001200140016001800200022002400260028003000Rent in $9193182

* 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
Bear Creek Intermediate School Middle Regular 781 42 9
Keller High School High Regular 2,645 145 10

Liberty Elementary School

  • Education Level: Primary
  • # of students: 389
  • # of teachers: 29
10
GreatSchools Rating

Bear Creek Intermediate School

  • Education Level: Middle
  • # of students: 781
  • # of teachers: 42
9
GreatSchools Rating

Keller High School

  • Education Level: High
  • # of students: 2,645
  • # of teachers: 145
10
GreatSchools Rating
 

$493,989$603,765$548,877

PURCHASE PRICE

$3,006$3,674$3,340

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,340
EXPENSES Loan Payment -$2,025
Property Tax -$1,205
Property Insurance -$227
HOA -$19
Property Management Fees -$99
CASH FLOW
-$234

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.

$548,877

PROJECTED PRICE

$3,340

PROJECTED RENT

0.61%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 2.5%
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

PROJECTED ANNUAL CASH FLOW

11530-$10k-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$151,202

INVESTMENT

$151,202

Down Payment
$137,219
Rehab Estimate
$5,750
Closing Costs
$8,233

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$2,025

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $137,219
Loan Amount $411,658
See What Happens When You Reinvest Cash Flow

2.42

YEARS SAVED

$12,073

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,340

    LIST RENT
  • $0.97

    LIST RENT PER SQFT
  • $3,323

    COMP ESTIMATED VALUE
  • $0.96

    COMP AVG. RENT PER SQFT
Comps Range
$3,000
1$3,0002$3,1003$3,2004$3,2505$3,340
$3,340
RENT COMPS ANALYSIS
  • 8917 Thornway Drive North Richland Hills, TX 5
    • 4 beds 3 baths ∙ 3,452 Sqft ∙ Built 2001 4 beds 3 baths ∙ 3,452 Sqft ∙ Built 2001
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $3,340
    • $0.97
    •  
  • 1105 Elmgrove Lane Keller, TX 1
    • 5 beds 3 baths ∙ 3,116 Sqft ∙ Built 2000 5 beds 3 baths ∙ 3,116 Sqft ∙ Built 2000
    property image
    LEASED 04/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $0.96
    •  
  • 8412 Grand View Drive North Richland Hills, TX 2
    • 4 beds 3 baths ∙ 3,200 Sqft ∙ Built 1998 4 beds 3 baths ∙ 3,200 Sqft ∙ Built 1998
    property image
    LEASED 06/05/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,100
    • $0.97
    •  
  • 1212 Elmgrove Lane Keller, TX 3
    • 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 4
    • 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
Julie Gray
Ebby Halliday, Realtors
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14467563
Last Updated: 11/08/2020
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