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915 Richards Drive Cedar Hill, TX 75104

3 Beds 2 Baths 1,435 sqft Built 1986

$225,000

List Price

$1,460

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

October 28, 2020 RECENTLY ADDED
FACTS
  • Built In 1986
  • Price/Sqft : $156.79
  • 7 Days on Market
  • MLS # : 14461681
  • Updated Date : 10/30/2020 at 10:01
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,435 sqft
  • Baths : 2 full
Listing Agent

Real Estate Market Experts

Listing Agent's Description

A MUST SEE 3 BEDROOM HOME!! COMPLETELY REMODELED WITH SO MANY UPDATES. KITCHEN HAS GRANITE COUNTERTOPS AND SUBWAY TILE BACKSPLASH. DINING AREA IS A GREAT SIZE THAT LEADS INTO THE LIVING AREA WHICH HAS A WOOD BURNING FIREPLACE GREAT FOR CHILLY NIGHTS. MASTER BEDROOM INCLUDES A SECONDARY FIREPLACE AND MIRRORED WALL. COVERED PATIO WITH INGROUND POOL GREAT FOR ENTERTAINING. SCHEDULE YOUR APPOINTMENT TODAY!!!

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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: Stonewood Heights North

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240kPrice in $88k243k

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

Neighborhood: Stonewood Heights North

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700Rent in $9061740

* 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
Highlands Elementary School Primary Regular 599 30 4
Permenter Middle School Middle Regular 632 39 4
Permenter Middle School High Regular 632 39 4

Highlands Elementary School

  • Education Level: Primary
  • # of students: 599
  • # of teachers: 30
4
GreatSchools Rating

Permenter Middle School

  • Education Level: Middle
  • # of students: 632
  • # of teachers: 39
4
GreatSchools Rating

Permenter Middle School

  • Education Level: High
  • # of students: 632
  • # of teachers: 39
4
GreatSchools Rating
 

$202,500$247,500$225,000

PURCHASE PRICE

$1,314$1,606$1,460

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,460
EXPENSES Loan Payment -$830
Property Tax -$512
Property Insurance -$110
Property Management Fees -$99
CASH FLOW
-$91

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.

$225,000

PROJECTED PRICE

$1,460

PROJECTED RENT

0.65%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.74%
Appreciation Year (1-5) 10.4%
Maintenance Year (1-5) 8.00%
Vacancy 6.69%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

PROJECTED ANNUAL CASH FLOW

11530-$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$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$65,375

INVESTMENT

$65,375

Down Payment
$56,250
Rehab Estimate
$5,750
Closing Costs
$3,375

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$830

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $56,250
Loan Amount $168,750
See What Happens When You Reinvest Cash Flow

2.5

YEARS SAVED

$5,126

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,460

    LIST RENT
  • $1.02

    LIST RENT PER SQFT
  • $1,460

    COMP ESTIMATED VALUE
  • $1.02

    COMP AVG. RENT PER SQFT
Comps Range
$1,395
1$1,3952$1,4503$1,4604$1,5955$1,599
$1,599
RENT COMPS ANALYSIS
  • 915 Richards Drive Cedar Hill, TX 3
    • 3 beds 3 baths ∙ 1,435 Sqft ∙ Built 1986 3 beds 3 baths ∙ 1,435 Sqft ∙ Built 1986
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,460
    • $1.02
    •  
  • 913 Turner Court Cedar Hill, TX 1
    • 3 beds 2 baths ∙ 1,310 Sqft ∙ Built 1986 3 beds 2 baths ∙ 1,310 Sqft ∙ Built 1986
    property image
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $1.06
    •  
  • 910 Richards Drive Cedar Hill, TX 2
    • 3 beds 2 baths ∙ 1,512 Sqft ∙ Built 1986 3 beds 2 baths ∙ 1,512 Sqft ∙ Built 1986
    property image
    LEASED 02/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.96
    •  
  • 919 Richards Drive Cedar Hill, TX 4
    • 3 beds 2 baths ∙ 1,522 Sqft ∙ Built 1986 3 beds 2 baths ∙ 1,522 Sqft ∙ Built 1986
    property image
    LEASED 09/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $1.05
    •  
  • 912 Simon Drive Cedar Hill, TX 5
    • 3 beds 3 baths ∙ 1,602 Sqft ∙ Built 1986 3 beds 3 baths ∙ 1,602 Sqft ∙ Built 1986
    property image
    LEASED 11/26/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,599
    • $1.00
    •  
PROPERTY LISTING DETAILS
Steven Nieves
Real Estate Market Experts
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14461681
Last Updated: 10/30/2020
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