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1108 River Park Drive Arlington, TX 76006

5 Beds 3 Baths 3,079 sqft Built 1993

$400,000

List Price

$2,520

$2.3K - $2.8K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 14, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1993
  • Price/Sqft : $129.91
  • 1 Days on Market
  • MLS # : 14532452
  • Updated Date : 03/13/2021 at 10:36
CONSTRUCTION
  • Beds : 5
  • Floor Size : 3,079 sqft
  • Baths : 3 full
Listing Agent

Jp And Associates Southlake

Listing Agent's Description

WELCOME HOME! Meticulously maintained 5bedroom, 3bath original owner home nestled in the established River Park neighborhood conveniently located N Arlington within walking distance to River Legacy Park, Trinity Rail System, minutes to Lake Viridian & much more make this a PRIME LOCATION! This beautifully UPDATED home delivers thoughtful & impeccable interior design upgrades*OPEN CONCEPT LIVING*GOURMET KITCHEN*EXTENDED COVERED OUTDOOR LIVING SPACE*2 LIVING*2 DINING*UPDATED BATHS*SPACIOUS MASTER BED W LUXURIOUS SPA LIKE ENSUITE***GARAGE SPACE IS A WOODWORKERS DREAM, EPOXY FLOORS,CUSTOM WORKBENCH, UPGRADED LIGHTING & MORE***UPDATES COMPLETED 2019*ENERGY EFFICIENT HVAC* 40YR ROOF 2019* SCHEDULE YOUR PREVIEW TODAY!

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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: North Arlington

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260kPrice in $117k265k

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

Neighborhood: North Arlington

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21100120013001400150016001700180019002000Rent in $10222068

* 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
Nichols Junior High School Middle Regular 760 70 4
Lamar High School High Regular 2,918 185 3
Nichols Junior High School Middle Unknown NA

Nichols Junior High School

  • Education Level: Middle
  • # of students: 760
  • # of teachers: 70
4
GreatSchools Rating

Lamar High School

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

Nichols Junior High School

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

$360,000$440,000$400,000

PURCHASE PRICE

$2,268$2,772$2,520

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,520
EXPENSES Loan Payment -$1,389
Property Tax -$866
Property Insurance -$205
Property Management Fees -$99
CASH FLOW
-$39

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.

$400,000

PROJECTED PRICE

$2,520

PROJECTED RENT

0.63%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 6.8%
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$111,750

INVESTMENT

$111,750

Down Payment
$100,000
Rehab Estimate
$5,750
Closing Costs
$6,000

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,389

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $100,000
Loan Amount $300,000
See What Happens When You Reinvest Cash Flow

3.67

YEARS SAVED

$14,192

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,520

    LIST RENT
  • $0.82

    LIST RENT PER SQFT
  • $2,925

    COMP ESTIMATED VALUE
  • $0.95

    COMP AVG. RENT PER SQFT
Comps Range
$2,520
1$2,5202$2,7003$2,8004$2,995
$2,995
RENT COMPS ANALYSIS
  • 1108 River Park Drive Arlington, TX 1
    • 5 beds 3 baths ∙ 3,079 Sqft ∙ Built 1993 5 beds 3 baths ∙ 3,079 Sqft ∙ Built 1993
    • Rent
    • Rent Per SQFT
    •  
    • $2,520
    • $0.82
    •  
  • 2411 Laurel Valley Court Arlington, TX 2
    • 4 beds 3 baths ∙ 3,064 Sqft ∙ Built 1993 4 beds 3 baths ∙ 3,064 Sqft ∙ Built 1993
    LEASED 04/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $0.88
    •  
  • 2312 Midway Road Arlington, TX 3
    • 4 beds 3 baths ∙ 2,921 Sqft ∙ Built 1983 4 beds 3 baths ∙ 2,921 Sqft ∙ Built 1983
    LEASED 08/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $0.96
    •  
  • 2002 Shadow Ridge Drive Arlington, TX 4
    • 4 beds 3 baths ∙ 2,980 Sqft ∙ Built 1979 4 beds 3 baths ∙ 2,980 Sqft ∙ Built 1979
    LEASED 06/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,995
    • $1.01
    •  
PROPERTY LISTING DETAILS
Tammy Gill
Jp And Associates Southlake
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14532452
Last Updated: 03/13/2021
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