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1918 Arapaho Trail Mesquite, TX 75149

3 Beds 2 Baths 2,118 sqft Built 1989

$374,900

List Price

$1,790

$1.6K - $2K

Rent Est.

PROPERTY INFO

February 06, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1989
  • Price/Sqft : $177.01
  • 2 Days on Market
  • MLS # : 14514559
  • Updated Date : 02/06/2021 at 18:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,118 sqft
  • Baths : 2 full
Listing Agent

10-8 Realty

Listing Agent's Description

This property is the man's dream!!! It comes with an oversized garage, a shop between the house with its own electrical panel and garage (attached), and a separate HVAC system!! The garage is already wired with a 100 amp outlet and two 230v hardwired for compressors or welders. Perfect for any home business!! Many updates, included all new flooring, light fixtures, outlets, light switches, water cut-offs, and siding. The extra-large driveway allows for camper and trailer parking and an oversized lot. This one won't last!!

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: Indian Trails

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240kPrice in $92k243k

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

Neighborhood: Indian Trails

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700Rent in $9701734

* 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
Smith Elementary School Primary Regular 477 29 4
Berry Middle School Middle Regular 910 55 5
John Horn High School High Regular 2,284 140 4

Smith Elementary School

  • Education Level: Primary
  • # of students: 477
  • # of teachers: 29
4
GreatSchools Rating

Berry Middle School

  • Education Level: Middle
  • # of students: 910
  • # of teachers: 55
5
GreatSchools Rating

John Horn High School

  • Education Level: High
  • # of students: 2,284
  • # of teachers: 140
4
GreatSchools Rating
 

$337,410$412,390$374,900

PURCHASE PRICE

$1,611$1,969$1,790

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,790
EXPENSES Loan Payment -$1,302
Property Tax -$909
Property Insurance -$155
Property Management Fees -$99
CASH FLOW
-$676

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.

$374,900

PROJECTED PRICE

$1,790

PROJECTED RENT

0.48%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 9.4%
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$1.2M

PROJECTED ANNUAL CASH FLOW

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

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$105,099

INVESTMENT

$105,099

Down Payment
$93,725
Rehab Estimate
$5,750
Closing Costs
$5,624

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 100% down payment or higher enables the proceeds from the asset to cover all costs.

$1,302

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $93,725
Loan Amount $281,175
See What Happens When You Reinvest Cash Flow

-0.17

YEARS SAVED

-$21

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,790

    LIST RENT
  • $0.81

    LIST RENT PER SQFT
  • $1,907

    COMP ESTIMATED VALUE
  • $0.86

    COMP AVG. RENT PER SQFT
Comps Range
$1,790
1$1,7902$1,7953$1,7954$1,9255$2,095
$2,095
RENT COMPS ANALYSIS
  • 1918 Arapaho Trail Mesquite, TX 1
    • 3 beds 2 baths ∙ 2,218 Sqft ∙ Built 1989 3 beds 2 baths ∙ 2,218 Sqft ∙ Built 1989
    • Rent
    • Rent Per SQFT
    •  
    • $1,790
    • $0.81
    •  
  • 1710 Hillwood Drive Mesquite, TX 2
    • 4 beds 2 baths ∙ 2,137 Sqft ∙ Built 1996 4 beds 2 baths ∙ 2,137 Sqft ∙ Built 1996
    LEASED 03/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.84
    •  
  • 1104 Parkwood Trail Mesquite, TX 3
    • 3 beds 2 baths ∙ 2,239 Sqft ∙ Built 1998 3 beds 2 baths ∙ 2,239 Sqft ∙ Built 1998
    LEASED 10/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.80
    •  
  • 2324 Cantura Drive Mesquite, TX 4
    • 4 beds 2 baths ∙ 2,190 Sqft ∙ Built 2001 4 beds 2 baths ∙ 2,190 Sqft ∙ Built 2001
    LEASED 08/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,925
    • $0.88
    •  
  • 2404 Parkchase Circle Mesquite, TX 5
    • 3 beds 2 baths ∙ 2,288 Sqft ∙ Built 1994 3 beds 2 baths ∙ 2,288 Sqft ∙ Built 1994
    LEASED 08/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,095
    • $0.92
    •  
PROPERTY LISTING DETAILS
Tricha Wheeler
10-8 Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14514559
Last Updated: 02/06/2021
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