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1005 Findlay Drive Arlington, TX 76012

4 Beds 3 Baths 3,239 sqft Built 1980

$415,000

List Price

$2,800

$2.6K - $3.1K

Rent Est.

PROPERTY INFO

January 30, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1980
  • Price/Sqft : $128.13
  • 2 Days on Market
  • MLS # : 14506745
  • Updated Date : 01/31/2021 at 00:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,239 sqft
  • Baths : 3 full
Listing Agent

Keller Williams Realty Dpr

Listing Agent's Description

Impressive hilltop home with tranquil canal views in the illustrious Interlochen community. Directly adjacent to Bob Findlay Linear Park, this home is well suited to an active outdoor lifestyle. Lifetime roof, recent foundation and sprinkler repairs. This floorplan is a blank canvas ready for your ideas! Built ins and ample storage throughout. Charming courtyard out front. Ricoh360 Virtual Tour Available.

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: Interlochen West

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400kPrice in $117k444k

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

Neighborhood: Interlochen West

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2120014001600180020002200240026002800Rent in $10222866

* 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
Shackelford Junior High School Middle Regular 722 49 5
Lamar High School High Regular 2,918 185 3
Shackelford Junior High School Middle Unknown NA

Shackelford Junior High School

  • Education Level: Middle
  • # of students: 722
  • # of teachers: 49
5
GreatSchools Rating

Lamar High School

  • Education Level: High
  • # of students: 2,918
  • # of teachers: 185
3
GreatSchools Rating

Shackelford Junior High School

  • Education Level: Middle
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$373,500$456,500$415,000

PURCHASE PRICE

$2,520$3,080$2,800

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,800
EXPENSES Loan Payment -$1,441
Property Tax -$898
Property Insurance -$214
HOA -$33
Property Management Fees -$99
CASH FLOW
$113

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 14% of earned rent to cover both maintenance and periods of vacancy.

$415,000

PROJECTED PRICE

$2,800

PROJECTED RENT

0.67%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 7.2%
Maintenance Year (1-5) 8.00%
Vacancy 6.39%
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-$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$115,725

INVESTMENT

$115,725

Down Payment
$103,750
Rehab Estimate
$5,750
Closing Costs
$6,225

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,441

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $103,750
Loan Amount $311,250
See What Happens When You Reinvest Cash Flow

5.58

YEARS SAVED

$26,073

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,800

    LIST RENT
  • $0.86

    LIST RENT PER SQFT
  • $2,810

    COMP ESTIMATED VALUE
  • $0.87

    COMP AVG. RENT PER SQFT
Comps Range
$2,500
1$2,5002$2,5003$2,6004$2,8005$3,000
$3,000
RENT COMPS ANALYSIS
  • 1005 Findlay Drive Arlington, TX 4
    • 4 beds 3 baths ∙ 3,239 Sqft ∙ Built 1980 4 beds 3 baths ∙ 3,239 Sqft ∙ Built 1980
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $0.86
    •  
  • 902 Portofino Drive Arlington, TX 1
    • 5 beds 3 baths ∙ 2,906 Sqft ∙ Built 1977 5 beds 3 baths ∙ 2,906 Sqft ∙ Built 1977
    property image
    LEASED 09/08/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.86
    •  
  • 1019 Loch Lomond Drive Arlington, TX 2
    • 3 beds 3 baths ∙ 3,043 Sqft ∙ Built 1979 3 beds 3 baths ∙ 3,043 Sqft ∙ Built 1979
    property image
    LEASED 01/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.82
    •  
  • 1200 Woodbine Street Arlington, TX 3
    • 4 beds 4 baths ∙ 3,063 Sqft ∙ Built 1994 4 beds 4 baths ∙ 3,063 Sqft ∙ Built 1994
    property image
    LEASED 09/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $0.85
    •  
  • 2800 Crowley Court Arlington, TX 5
    • 5 beds 3 baths ∙ 3,191 Sqft ∙ Built 1967 5 beds 3 baths ∙ 3,191 Sqft ∙ Built 1967
    property image
    LEASED 05/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $0.94
    •  
PROPERTY LISTING DETAILS
Greg Fowler
Keller Williams Realty Dpr
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14506745
Last Updated: 01/31/2021
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