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1005 Findlay Drive Arlington, TX 76012

4 Beds 3 Baths 3,239 sqft Built 1980

$399,900

List Price

$2,570

$2.3K - $2.8K

Rent Est.

PROPERTY INFO

November 06, 2020 RECENTLY ADDED
FACTS
  • Built In 1980
  • Price/Sqft : $123.46
  • 3 Days on Market
  • MLS # : 14467143
  • Updated Date : 11/07/2020 at 11:44
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,239 sqft
  • Baths : 3 full
Listing Agent

Ebby Halliday, Realtors

Listing Agent's Description

Desirable and sought after Interlochen subdivision. Impressive drive up appeal. Tile and engineered wood with wonderful water views. Home sits uphill with relaxing canal frontage. This home is across from Findlay Linear Park which has walking trails, lots of green space and a wooded path that extends to Green Oaks Blvd. A real plus for dog lovers, walkers, runners, and bike riders. The home has three bedrooms, three baths, two living and two dining rooms and plantation shutters. Fourth room is a study with floor to ceiling shelves and a closet, which makes it great for a fourth bedroom.

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
Pope Elementary School Primary Regular 634 37 5
Pope Elementary School Middle Regular 634 37 5
Lamar High School High Regular 2,918 185 3

Pope Elementary School

  • Education Level: Primary
  • # of students: 634
  • # of teachers: 37
5
GreatSchools Rating

Pope Elementary School

  • Education Level: Middle
  • # of students: 634
  • # of teachers: 37
5
GreatSchools Rating

Lamar High School

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

$359,910$439,890$399,900

PURCHASE PRICE

$2,313$2,827$2,570

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,570
EXPENSES Loan Payment -$1,475
Property Tax -$855
Property Insurance -$214
HOA -$33
Property Management Fees -$99
CASH FLOW
-$107

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.

$399,900

PROJECTED PRICE

$2,570

PROJECTED RENT

0.64%

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

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k

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$111,724

INVESTMENT

$111,724

Down Payment
$99,975
Rehab Estimate
$5,750
Closing Costs
$5,999

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,475

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $99,975
Loan Amount $299,925
See What Happens When You Reinvest Cash Flow

3.25

YEARS SAVED

$12,819

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,570

    LIST RENT
  • $0.79

    LIST RENT PER SQFT
  • $2,729

    COMP ESTIMATED VALUE
  • $0.84

    COMP AVG. RENT PER SQFT
Comps Range
$2,500
1$2,5002$2,5003$2,5704$2,6005$2,795
$2,795
RENT COMPS ANALYSIS
  • 1005 Findlay Drive Arlington, TX 3
    • 4 beds 3 baths ∙ 3,239 Sqft ∙ Built 1980 4 beds 3 baths ∙ 3,239 Sqft ∙ Built 1980
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,570
    • $0.79
    •  
  • 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 4
    • 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
    •  
  • 2004 Lake Country Drive Arlington, TX 5
    • 5 beds 4 baths ∙ 3,321 Sqft ∙ Built 1980 5 beds 4 baths ∙ 3,321 Sqft ∙ Built 1980
    property image
    LEASED 02/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,795
    • $0.84
    •  
PROPERTY LISTING DETAILS
Carolyn Casselberry
Ebby Halliday, Realtors
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14467143
Last Updated: 11/07/2020
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