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1702 Creede Avenue Arlington, TX 76018

5 Beds 3 Baths 2,718 sqft Built 1989

$269,900

List Price

$2,040

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

January 16, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1989
  • Price/Sqft : $99.30
  • 2 Days on Market
  • MLS # : 14501103
  • Updated Date : 01/16/2021 at 20:59
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,718 sqft
  • Baths : 2 full , 1 half
Listing Agent

Coldwell Banker Apex, Realtors

Listing Agent's Description

Multiple OFFERS received. All offers due by Sunday, Jan. 17 at SIX p.m. Welcome to spacious five bedroom home, master on ground floor! One of the three living spaces could be dining room, located behind the kit! The chef will love a dbl oven range, open concept kit, lots of storage, counter space, even has a pantry! Master retreat provides dual vanities, walk in closet, sep shower, garden tub, linen storage, backyard views! Second floor has four bedrooms, shelves, large living space! This home is ready for new owners to update with personal style! Huge fenced yard on over sized corner lot allows space for anything imaginable! NO HOA! Take a look and take advantage of this underpriced listing in Arlington!

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: Oakbrook

NeighborhoodNIR Market*CityMarket2010Year20002019110k120k130k140k150k160k170k180k190k200k210k220k230k240kPrice in $107k243k

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

Neighborhood: Oakbrook

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700Rent in $9781734

* 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
Fitzgerald Elementary School Primary Regular 598 36 8
Fitzgerald Elementary School Middle Regular 598 36 8
Bowie High School High Regular 3,053 194 5

Fitzgerald Elementary School

  • Education Level: Primary
  • # of students: 598
  • # of teachers: 36
8
GreatSchools Rating

Fitzgerald Elementary School

  • Education Level: Middle
  • # of students: 598
  • # of teachers: 36
8
GreatSchools Rating

Bowie High School

  • Education Level: High
  • # of students: 3,053
  • # of teachers: 194
5
GreatSchools Rating
 

$242,910$296,890$269,900

PURCHASE PRICE

$1,836$2,244$2,040

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,040
EXPENSES Loan Payment -$937
Property Tax -$584
Property Insurance -$184
Property Management Fees -$99
CASH FLOW
$235

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.

$269,900

PROJECTED PRICE

$2,040

PROJECTED RENT

0.76%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 11.3%
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$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$77,274

INVESTMENT

$77,274

Down Payment
$67,475
Rehab Estimate
$5,750
Closing Costs
$4,049

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$937

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $67,475
Loan Amount $202,425
See What Happens When You Reinvest Cash Flow

8.58

YEARS SAVED

$31,561

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,040

    LIST RENT
  • $0.75

    LIST RENT PER SQFT
  • $1,991

    COMP ESTIMATED VALUE
  • $0.73

    COMP AVG. RENT PER SQFT
Comps Range
$1,745
1$1,7452$1,8503$1,9954$2,0405$2,195
$2,195
RENT COMPS ANALYSIS
  • 1702 Creede Avenue Arlington, TX 4
    • 5 beds 3 baths ∙ 2,718 Sqft ∙ Built 1989 5 beds 3 baths ∙ 2,718 Sqft ∙ Built 1989
    • Rent
    • Rent Per SQFT
    •  
    • $2,040
    • $0.75
    •  
  • 1416 Beckwith Drive Arlington, TX 1
    • 4 beds 2 baths ∙ 2,573 Sqft ∙ Built 1987 4 beds 2 baths ∙ 2,573 Sqft ∙ Built 1987
    LEASED 09/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,745
    • $0.68
    •  
  • 5811 Taunton Court Arlington, TX 2
    • 4 beds 3 baths ∙ 2,428 Sqft ∙ Built 1995 4 beds 3 baths ∙ 2,428 Sqft ∙ Built 1995
    LEASED 08/23/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.76
    •  
  • 5104 Chinaberry Drive Arlington, TX 3
    • 4 beds 3 baths ∙ 2,766 Sqft ∙ Built 2002 4 beds 3 baths ∙ 2,766 Sqft ∙ Built 2002
    LEASED 04/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.72
    •  
  • 4550 Saint Andrews Drive Grand Prairie, TX 5
    • 4 beds 3 baths ∙ 2,867 Sqft ∙ Built 1996 4 beds 3 baths ∙ 2,867 Sqft ∙ Built 1996
    LEASED 10/04/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,195
    • $0.77
    •  
PROPERTY LISTING DETAILS
Leigh Brodner
Coldwell Banker Apex, Realtors
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14501103
Last Updated: 01/16/2021
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