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1006 Prado Real Drive Arlington, TX 76017

3 Beds 2 Baths 1,749 sqft Built 1996

$195,000

List Price

$1,560

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

November 20, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1996
  • Price/Sqft : $111.49
  • 3 Days on Market
  • MLS # : 14474422
  • Updated Date : 11/20/2020 at 06:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,749 sqft
  • Baths : 2 full
Listing Agent

Century 21 Mike Bowman, Inc.

Listing Agent's Description

INVESTOR PROPERTY BEING SOLD AS-IS. NO REPAIRS WILL BE DONE! Great opportunity for investors. Home needs carpet and paint, the cabinets in the kitchen and the fence needs to be replaced. The sprinkler system isn't working correctly, could be damaged heads. Wood rot along the large window in the back of the home from ants. Windows have lost their seals. The front porch needs concrete work The roof is 8 years old. Home is located in highly sought after Mansfield ISD! Home comes complete with a built-in microwave, dishwasher, refrigerator, gas fireplace and much more!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • . 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)

PRICE & RENT TRENDS

Neighborhood: The Village at Palos Verdes

NeighborhoodNIR Market*CityMarket2010Year20002019120k130k140k150k160k170k180k190k200k210k220k230k240kPrice in $117k243k

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

Neighborhood: The Village at Palos Verdes

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800Rent in $10221805

* 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
Charlotte Anderson Elementary School Primary Regular 497 34 8
T.a. Howard Middle School Middle Regular 855 59 6
Mansfield Summit High School High Regular 2,020 114 4

Charlotte Anderson Elementary School

  • Education Level: Primary
  • # of students: 497
  • # of teachers: 34
8
GreatSchools Rating

T.a. Howard Middle School

  • Education Level: Middle
  • # of students: 855
  • # of teachers: 59
6
GreatSchools Rating

Mansfield Summit High School

  • Education Level: High
  • # of students: 2,020
  • # of teachers: 114
4
GreatSchools Rating
 

$175,500$214,500$195,000

PURCHASE PRICE

$1,404$1,716$1,560

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,560
EXPENSES Loan Payment -$719
Property Tax -$465
Property Insurance -$128
Property Management Fees -$99
CASH FLOW
$149

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.

$195,000

PROJECTED PRICE

$1,560

PROJECTED RENT

0.80%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 8.4%
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$100k$200k$300k$400k$500k$600k$700k

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$57,425

INVESTMENT

$57,425

Down Payment
$48,750
Rehab Estimate
$5,750
Closing Costs
$2,925

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$719

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $48,750
Loan Amount $146,250
See What Happens When You Reinvest Cash Flow

8.17

YEARS SAVED

$24,024

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,560

    LIST RENT
  • $0.89

    LIST RENT PER SQFT
  • $1,622

    COMP ESTIMATED VALUE
  • $0.93

    COMP AVG. RENT PER SQFT
Comps Range
$1,500
1$1,5002$1,5603$1,6504$1,7005$1,745
$1,745
RENT COMPS ANALYSIS
  • 1006 Prado Real Drive Arlington, TX 2
    • 3 beds 2 baths ∙ 1,749 Sqft ∙ Built 1996 3 beds 2 baths ∙ 1,749 Sqft ∙ Built 1996
    • Rent
    • Rent Per SQFT
    •  
    • $1,560
    • $0.89
    •  
  • 938 Freshwood Court Arlington, TX 1
    • 3 beds 2 baths ∙ 1,664 Sqft ∙ Built 1989 3 beds 2 baths ∙ 1,664 Sqft ∙ Built 1989
    LEASED 03/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.90
    •  
  • 929 Rio Vista Lane Arlington, TX 3
    • 3 beds 2 baths ∙ 1,716 Sqft ∙ Built 1991 3 beds 2 baths ∙ 1,716 Sqft ∙ Built 1991
    LEASED 07/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.96
    •  
  • 5315 Alta Vista Lane Arlington, TX 4
    • 3 beds 2 baths ∙ 1,850 Sqft ∙ Built 1991 3 beds 2 baths ∙ 1,850 Sqft ∙ Built 1991
    LEASED 08/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.92
    •  
  • 1004 Carthage Way Arlington, TX 5
    • 3 beds 2 baths ∙ 1,868 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,868 Sqft ∙ Built 2002
    LEASED 09/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,745
    • $0.93
    •  
PROPERTY LISTING DETAILS
Dana Meeks
Century 21 Mike Bowman, Inc.
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14474422
Last Updated: 11/20/2020
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