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202 Fort Edward Drive Arlington, TX 76002

4 Beds 3 Baths 2,380 sqft Built 2001

$299,900

List Price

$2,030

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

February 14, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2001
  • Price/Sqft : $126.01
  • 1 Days on Market
  • MLS # : 14518464
  • Updated Date : 02/13/2021 at 22:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,380 sqft
  • Baths : 2 full , 1 half
Listing Agent

Summit, Realtors

Listing Agent's Description

Beautiful! well maintained 4 bedroom, 2 bath home in a desirable Mansfield ISD. Open floor plan with a large kitchen with plenty of counter space perfect for entertaining guests!, stainless steel appliance, large pantry and much more. Located close to shopping, entertainment and restaurants. Come see it today!

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: Cherry Creek Estates

NeighborhoodNIR Market*CityMarket2010Year20002019120k130k140k150k160k170k180k190k200k210k220k230k240kPrice in $117k243k

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

Neighborhood: Cherry Creek Estates

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800Rent in $10221885

* 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
Janet Brockett Elementary School Primary Regular 649 43 5
James Coble Middle School Middle Regular 884 55 7
Mansfield Timberview High School High Regular 1,657 94 5

Janet Brockett Elementary School

  • Education Level: Primary
  • # of students: 649
  • # of teachers: 43
5
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
 

$269,910$329,890$299,900

PURCHASE PRICE

$1,827$2,233$2,030

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,030
EXPENSES Loan Payment -$1,042
Property Tax -$649
Property Insurance -$165
Property Management Fees -$99
CASH FLOW
$75

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.

$299,900

PROJECTED PRICE

$2,030

PROJECTED RENT

0.68%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 6.8%
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-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$85,224

INVESTMENT

$85,224

Down Payment
$74,975
Rehab Estimate
$5,750
Closing Costs
$4,499

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,042

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $74,975
Loan Amount $224,925
See What Happens When You Reinvest Cash Flow

5.58

YEARS SAVED

$18,532

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,030

    LIST RENT
  • $0.85

    LIST RENT PER SQFT
  • $2,017

    COMP ESTIMATED VALUE
  • $0.85

    COMP AVG. RENT PER SQFT
Comps Range
$1,875
1$1,8752$1,9953$2,0304$2,1005$2,175
$2,175
RENT COMPS ANALYSIS
  • 202 Fort Edward Drive Arlington, TX 3
    • 4 beds 3 baths ∙ 2,380 Sqft ∙ Built 2001 4 beds 3 baths ∙ 2,380 Sqft ∙ Built 2001
    • Rent
    • Rent Per SQFT
    •  
    • $2,030
    • $0.85
    •  
  • 8206 Shoshoni Drive Arlington, TX 1
    • 3 beds 2 baths ∙ 2,247 Sqft ∙ Built 2000 3 beds 2 baths ∙ 2,247 Sqft ∙ Built 2000
    LEASED 10/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,875
    • $0.83
    •  
  • 209 Adirondack Trail Arlington, TX 2
    • 4 beds 2 baths ∙ 2,270 Sqft ∙ Built 2001 4 beds 2 baths ∙ 2,270 Sqft ∙ Built 2001
    LEASED 12/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.88
    •  
  • 3007 Saint George Drive Mansfield, TX 4
    • 4 beds 3 baths ∙ 2,539 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,539 Sqft ∙ Built 2004
    LEASED 05/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.83
    •  
  • 210 Adirondack Trail Arlington, TX 5
    • 4 beds 3 baths ∙ 2,567 Sqft ∙ Built 2001 4 beds 3 baths ∙ 2,567 Sqft ∙ Built 2001
    LEASED 08/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,175
    • $0.85
    •  
PROPERTY LISTING DETAILS
Bilal Omar
Summit, Realtors
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14518464
Last Updated: 02/13/2021
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