Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

1911 Merritt Way Arlington, TX 76018

4 Beds 2 Baths 2,244 sqft Built 1998

$280,000

List Price

$1,860

$1.7K - $2K

Rent Est.

PROPERTY INFO

November 06, 2020 RECENTLY ADDED
FACTS
  • Built In 1998
  • Price/Sqft : $124.78
  • 3 Days on Market
  • MLS # : 14462694
  • Updated Date : 11/07/2020 at 14:49
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,244 sqft
  • Baths : 2 full
Listing Agent

Re/max Trinity

Listing Agent's Description

MULTIPLE OFFERS~SEND HIGHEST & BEST BY 5PM SUNDAY NOV 8~Absolutely Gorgeous Home w Fresh Bright Paint Throughout Including Exterior~Tons of Updates~Stunning Handscraped Hardwood Flooring Extends Throughout the Entry, Halls & Living~New SS Oven, Microwave & Dishwasher~Stacked Formal Living-Dining as You Enter~Open Concept Kitchen Overlooks the Expansive Living Area w Backyard Views~Granite Countertops & Cooktop Island~Generous Cabinet & Counter Space~Large Master Suite w Bay Window~Ensuite has Large Soaking Tub & Newly Installed Tile in Separate Shower w Fameless Doors~Dual Sinks & Generous Sized Walk-in Closet~Large Backyard~Convenient Location & Access to Southeast TCC Campus, Shopping, Restaurants~DON'T WAIT!

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: Hunter Point

NeighborhoodNIR Market*CityMarket2010Year20002019120k130k140k150k160k170k180k190k200k210k220k230k240k250k260kPrice in $117k262k

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

Neighborhood: Hunter Point

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2110012001300140015001600170018001900Rent in $10221973

* 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
Beckham Elementary School Primary Regular 616 40 7
Beckham Elementary School Middle Regular 616 40 7
Seguin High School High Regular 1,653 114 5

Beckham Elementary School

  • Education Level: Primary
  • # of students: 616
  • # of teachers: 40
7
GreatSchools Rating

Beckham Elementary School

  • Education Level: Middle
  • # of students: 616
  • # of teachers: 40
7
GreatSchools Rating

Seguin High School

  • Education Level: High
  • # of students: 1,653
  • # of teachers: 114
5
GreatSchools Rating
 

$252,000$308,000$280,000

PURCHASE PRICE

$1,674$2,046$1,860

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,860
EXPENSES Loan Payment -$1,033
Property Tax -$606
Property Insurance -$157
HOA -$33
Property Management Fees -$99
CASH FLOW
-$68

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.

$280,000

PROJECTED PRICE

$1,860

PROJECTED RENT

0.66%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 10.4%
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$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

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

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$79,950

INVESTMENT

$79,950

Down Payment
$70,000
Rehab Estimate
$5,750
Closing Costs
$4,200

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,033

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $70,000
Loan Amount $210,000
See What Happens When You Reinvest Cash Flow

3.33

YEARS SAVED

$9,441

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,860

    LIST RENT
  • $0.83

    LIST RENT PER SQFT
  • $1,879

    COMP ESTIMATED VALUE
  • $0.84

    COMP AVG. RENT PER SQFT
Comps Range
$1,860
1$1,8602$1,8753$1,9004$1,9505$2,030
$2,030
RENT COMPS ANALYSIS
  • 1911 Merritt Way Arlington, TX 1
    • 4 beds 2 baths ∙ 2,244 Sqft ∙ Built 1998 4 beds 2 baths ∙ 2,244 Sqft ∙ Built 1998
    • Rent
    • Rent Per SQFT
    •  
    • $1,860
    • $0.83
    •  
  • 6410 Clear Pool Drive Arlington, TX 2
    • 4 beds 2 baths ∙ 2,274 Sqft ∙ Built 1996 4 beds 2 baths ∙ 2,274 Sqft ∙ Built 1996
    LEASED 03/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,875
    • $0.82
    •  
  • 6405 Bricken Court Arlington, TX 3
    • 3 beds 2 baths ∙ 2,237 Sqft ∙ Built 1998 3 beds 2 baths ∙ 2,237 Sqft ∙ Built 1998
    LEASED 06/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.85
    •  
  • 6009 Winter Park Lane Arlington, TX 4
    • 4 beds 2 baths ∙ 2,319 Sqft ∙ Built 2006 4 beds 2 baths ∙ 2,319 Sqft ∙ Built 2006
    LEASED 07/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.84
    •  
  • 2218 Bantry Lane Arlington, TX 5
    • 4 beds 3 baths ∙ 2,429 Sqft ∙ Built 1999 4 beds 3 baths ∙ 2,429 Sqft ∙ Built 1999
    LEASED 08/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,030
    • $0.84
    •  
PROPERTY LISTING DETAILS
Martha Dever
Re/max Trinity
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14462694
Last Updated: 11/07/2020
BESbswy