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1702 Deer Crossing Drive Arlington, TX 76002

4 Beds 3 Baths 3,050 sqft Built 2007

$345,900

List Price

$2,060

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 19, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2007
  • Price/Sqft : $113.41
  • 3 Days on Market
  • MLS # : 14519292
  • Updated Date : 02/19/2021 at 11:16
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,050 sqft
  • Baths : 2 full , 1 half
Listing Agent

Our Covenant Realty, Llc

Listing Agent's Description

Beautiful 2 story home has a spacious open concept floor plan. Large living area with a beautiful stone fireplace. Large master bedroom and spacious split bedrooms. Updated kitchen and a Large game room upstairs along side a built in desk. Large backyard with a covered patio great for entertaining, children or pets. Neighborhood with a community pool and playground. Great location close to shopping, dining and entertainment.

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: Southeast Arlington

NeighborhoodNIR Market*CityMarket2010Year20002019120k130k140k150k160k170k180k190k200k210k220k230k240kPrice in $117k243k

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

Neighborhood: Southeast Arlington

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210501100115012001250130013501400145015001550160016501700Rent in $10221734

* 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
Thelma Jones Elementary School Primary Regular 551 36 8
James Coble Middle School Middle Regular 884 55 7
Mansfield Timberview High School High Regular 1,657 94 5

Thelma Jones Elementary School

  • Education Level: Primary
  • # of students: 551
  • # of teachers: 36
8
GreatSchools Rating

James Coble Middle School

  • Education Level: Middle
  • # of students: 884
  • # of teachers: 55
7
GreatSchools Rating

Mansfield Timberview High School

  • Education Level: High
  • # of students: 1,657
  • # of teachers: 94
5
GreatSchools Rating
 

$311,310$380,490$345,900

PURCHASE PRICE

$1,854$2,266$2,060

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,060
EXPENSES Loan Payment -$1,201
Property Tax -$749
Property Insurance -$203
HOA -$38
Property Management Fees -$99
CASH FLOW
-$230

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.

$345,900

PROJECTED PRICE

$2,060

PROJECTED RENT

0.60%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 8.9%
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

PROJECTED ANNUAL CASH FLOW

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

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$97,414

INVESTMENT

$97,414

Down Payment
$86,475
Rehab Estimate
$5,750
Closing Costs
$5,189

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$1,201

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $86,475
Loan Amount $259,425
See What Happens When You Reinvest Cash Flow

1.33

YEARS SAVED

$2,343

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,060

    LIST RENT
  • $0.68

    LIST RENT PER SQFT
  • $2,059

    COMP ESTIMATED VALUE
  • $0.68

    COMP AVG. RENT PER SQFT
Comps Range
$1,900
1$1,9002$1,9503$2,0604$2,2505$2,295
$2,295
RENT COMPS ANALYSIS
  • 1702 Deer Crossing Drive Arlington, TX 3
    • 4 beds 3 baths ∙ 3,050 Sqft ∙ Built 2007 4 beds 3 baths ∙ 3,050 Sqft ∙ Built 2007
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,060
    • $0.68
    •  
  • 7121 Lake Hawkins Drive Arlington, TX 1
    • 4 beds 4 baths ∙ 3,092 Sqft ∙ Built 2002 4 beds 4 baths ∙ 3,092 Sqft ∙ Built 2002
    property image
    LEASED 02/10/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.61
    •  
  • 7720 Labrador Drive Arlington, TX 2
    • 4 beds 3 baths ∙ 2,820 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,820 Sqft ∙ Built 2005
    property image
    LEASED 01/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.69
    •  
  • 1402 Mule Deer Drive Arlington, TX 4
    • 4 beds 3 baths ∙ 3,105 Sqft ∙ Built 2004 4 beds 3 baths ∙ 3,105 Sqft ∙ Built 2004
    property image
    LEASED 10/03/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $0.72
    •  
  • 8117 Macgregor Drive Arlington, TX 5
    • 4 beds 3 baths ∙ 3,381 Sqft ∙ Built 2006 4 beds 3 baths ∙ 3,381 Sqft ∙ Built 2006
    property image
    LEASED 01/26/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,295
    • $0.68
    •  
PROPERTY LISTING DETAILS
Chyna Moon-walker
Our Covenant Realty, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14519292
Last Updated: 02/19/2021
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