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1821 Park Highland Way Arlington, TX 76012

5 Beds 5 Baths 4,094 sqft Built 2016

$499,500

List Price

$2,650

$2.4K - $2.9K

Rent Est.

PROPERTY INFO

December 12, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2016
  • Price/Sqft : $122.01
  • 2 Days on Market
  • MLS # : 14478294
  • Updated Date : 12/12/2020 at 03:00
CONSTRUCTION
  • Beds : 5
  • Floor Size : 4,094 sqft
  • Baths : 5 full
Listing Agent

Century 21 Mike Bowman, Inc.

Listing Agent's Description

STUNNING 5 BEDROOMS 5 BATH CUSTOM HOME WITH UPGRADES GALORE LOCATED IN THE HIGHLY SOUGHT AFTER GATED PARK HIGHLANDS SUBDIVISION. ELEGANT LIVING AND DINING AREAS. GORGEOUS CUSTOM GAS FIREPLACE, LARGE WOOD CROWN MOLDING AND HIGH CEILINGS THROUGHOUT. HRDWD AND TILE FLOORS THROUGHOUT. GOURMET KITCHEN WITH DOUBLE OVEN, CUSTOM 42IN WOOD CABINETRY, GRANITE C-TOPS WITH LARGE ISLAND, BREAKFAST BAR AND WI PANTRY. MEDIA RM WITH A WALL OF BUILT-IN CABINETRY, GRANITE C-TOPS & WALL SCONCES, LARGE GAME RM. MASTER SUITE WITH DOUBLE VANITIES, HUGE WI CLOSET, SEPARATE SHOWER & GARDEN TUB. ALL SECONDARY BDRMS HAVE WI CLOSET EXCEPT ONE. LAUNDRY RM WITH FOLDING TABLE, CABINETS & GRANITE C-TOPS. AWESOME PRIVATE BCKYRD W-COV PATIO.

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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: Park Highlands

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360k380k400kPrice in $117k410k

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

Neighborhood: Park Highlands

NeighborhoodNIR Market*CityMarket2010Year20002019 Q212001400160018002000220024002600Rent in $10222719

* 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
Butler Elementary School Primary Regular 640 39 9
Butler Elementary School Middle Regular 640 39 9
Lamar High School High Regular 2,918 185 3

Butler Elementary School

  • Education Level: Primary
  • # of students: 640
  • # of teachers: 39
9
GreatSchools Rating

Butler Elementary School

  • Education Level: Middle
  • # of students: 640
  • # of teachers: 39
9
GreatSchools Rating

Lamar High School

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

$449,550$549,450$499,500

PURCHASE PRICE

$2,385$2,915$2,650

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,650
EXPENSES Loan Payment -$1,843
Property Tax -$1,081
Property Insurance -$264
HOA -$56
Property Management Fees -$99
CASH FLOW
-$693

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 15% of earned rent to cover both maintenance and periods of vacancy.

$499,500

PROJECTED PRICE

$2,650

PROJECTED RENT

0.53%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 7.2%
Maintenance Year (1-5) 8.00%
Vacancy 6.93%
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$1.4M

PROJECTED ANNUAL CASH FLOW

11530-$16k-$14k-$12k-$10k-$8.0k-$6.0k-$4.0k-$2.0k$0.0$2.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$138,118

INVESTMENT

$138,118

Down Payment
$124,875
Rehab Estimate
$5,750
Closing Costs
$7,493

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 80% down payment or higher enables the proceeds from the asset to cover all costs.

$1,843

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $124,875
Loan Amount $374,625
See What Happens When You Reinvest Cash Flow

0.08

YEARS SAVED

$32

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,650

    LIST RENT
  • $0.65

    LIST RENT PER SQFT
  • $3,111

    COMP ESTIMATED VALUE
  • $0.76

    COMP AVG. RENT PER SQFT
Comps Range
$2,650
1$2,6502$3,000
$3,000
RENT COMPS ANALYSIS
  • 1821 Park Highland Way Arlington, TX 1
    • 5 beds 5 baths ∙ 4,094 Sqft ∙ Built 2016 5 beds 5 baths ∙ 4,094 Sqft ∙ Built 2016
    • Rent
    • Rent Per SQFT
    •  
    • $2,650
    • $0.65
    •  
  • 1809 Park Highland Way Arlington, TX 2
    • 4 beds 5 baths ∙ 3,936 Sqft ∙ Built 2016 4 beds 5 baths ∙ 3,936 Sqft ∙ Built 2016
    LEASED 02/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $0.76
    •  
PROPERTY LISTING DETAILS
Fernando Ramsey
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 #: 14478294
Last Updated: 12/12/2020
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