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205 Miramar Drive Arlington, TX 76002

3 Beds 2 Baths 1,708 sqft Built 1997

$225,000

List Price

$1,700

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

January 08, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1997
  • Price/Sqft : $131.73
  • 4 Days on Market
  • MLS # : 14495826
  • Updated Date : 01/08/2021 at 11:48
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,708 sqft
  • Baths : 2 full
Listing Agent

Knob & Key Realty Partners Llc

Listing Agent's Description

Beautiful home conveniently located near shopping, dining and entertainment. Walking distance from local elementary, high school, community playground and city parks. This home has a lot to offer with an open living dining area, eat in kitchen with stainless steel appliances, enclosed sunroom and large deck out back with a new wood fence. The master suite includes an attached study and the on suite bath has separate vanities, walk-in closet and a garden tub. The secondary bedrooms are in a private hall with a full bath. This home has lots of closet space including a linen closet for each bathroom and extra storage closets for all your storage needs. Last showing Sat 6pm,

SEE MORE

MARKET HIGHLIGHTS

  • # 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)
  • . Dallas has 7th largest concentration of high-tech jobs in the U.S. (Dallas Chamber)

PRICE & RENT TRENDS

Neighborhood: Hunter Trail

NeighborhoodNIR Market*CityMarket2010Year20002019120k130k140k150k160k170k180k190k200k210k220k230k240kPrice in $117k247k

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

Neighborhood: Hunter Trail

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2110012001300140015001600170018001900Rent in $10221931

* 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
Ashworth Elementary School Primary Regular 520 35 8
Ashworth Elementary School Middle Regular 520 35 8
Seguin High School High Regular 1,653 114 5

Ashworth Elementary School

  • Education Level: Primary
  • # of students: 520
  • # of teachers: 35
8
GreatSchools Rating

Ashworth Elementary School

  • Education Level: Middle
  • # of students: 520
  • # of teachers: 35
8
GreatSchools Rating

Seguin High School

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

$202,500$247,500$225,000

PURCHASE PRICE

$1,530$1,870$1,700

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,700
EXPENSES Loan Payment -$782
Property Tax -$487
Property Insurance -$126
Property Management Fees -$99
CASH FLOW
$206

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.

$225,000

PROJECTED PRICE

$1,700

PROJECTED RENT

0.76%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 7.2%
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$100k$200k$300k$400k$500k$600k$700k$800k

PROJECTED ANNUAL CASH FLOW

11530$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$100k$200k$300k$400k$500k$600k$700k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$65,375

INVESTMENT

$65,375

Down Payment
$56,250
Rehab Estimate
$5,750
Closing Costs
$3,375

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$782

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $56,250
Loan Amount $168,750
See What Happens When You Reinvest Cash Flow

9.08

YEARS SAVED

$27,625

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,700

    LIST RENT
  • $1

    LIST RENT PER SQFT
  • $1,699

    COMP ESTIMATED VALUE
  • $1

    COMP AVG. RENT PER SQFT
Comps Range
$1,599
1$1,5992$1,6953$1,6954$1,7005$1,795
$1,795
RENT COMPS ANALYSIS
  • 205 Miramar Drive Arlington, TX 4
    • 3 beds 2 baths ∙ 1,708 Sqft ∙ Built 1997 3 beds 2 baths ∙ 1,708 Sqft ∙ Built 1997
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $1.00
    •  
  • 6923 Misty Meadow Lane Arlington, TX 1
    • 3 beds 2 baths ∙ 1,629 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,629 Sqft ∙ Built 2004
    LEASED 03/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,599
    • $0.98
    •  
  • 306 Katydid Court Arlington, TX 2
    • 3 beds 2 baths ∙ 1,650 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,650 Sqft ∙ Built 2002
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $1.03
    •  
  • 6518 Country Creek Drive Arlington, TX 3
    • 3 beds 2 baths ∙ 1,683 Sqft ∙ Built 1986 3 beds 2 baths ∙ 1,683 Sqft ∙ Built 1986
    LEASED 05/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $1.01
    •  
  • 105 Shady Brook Drive Arlington, TX 5
    • 3 beds 2 baths ∙ 1,861 Sqft ∙ Built 1999 3 beds 2 baths ∙ 1,861 Sqft ∙ Built 1999
    LEASED 09/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.96
    •  
PROPERTY LISTING DETAILS
Michelle Ozymy
Knob & Key Realty Partners Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14495826
Last Updated: 01/08/2021
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