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2206 Gladstone Drive Arlington, TX 76018

3 Beds 2 Baths 2,117 sqft Built 1984

$280,000

List Price

$1,740

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

January 16, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1984
  • Price/Sqft : $132.26
  • 2 Days on Market
  • MLS # : 14501334
  • Updated Date : 01/16/2021 at 21:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,117 sqft
  • Baths : 2 full
Listing Agent

Jp & Associates Flower Mound

Listing Agent's Description

ONE OF A KIND-BEAUTIFUL, WELL MAINTAINED TWO STORY HOME IN THE HEART OF ARLINGTON. CLOSE TO SHOPPING AREAS AND RESTAURANTS. THIS HOUSE IMPRESSES AS YOU ENTER WITH THE GRAND VAULTED CEILING, MARBLE FLOORS, WOOD AND NEW PAINT THROUGHOUT. THIS HOMES BOASTS AN OVERSIZED MASTER BEDROOM WITH ITS OWN PRIVATE LIVING AREA. ITS A MUST SEE!

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: Manhassett Community

NeighborhoodNIR Market*CityMarket2010Year20002019110k120k130k140k150k160k170k180k190k200k210k220k230k240kPrice in $104k243k

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

Neighborhood: Manhassett Community

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700Rent in $9721734

* 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
Bryant Elementary School Primary Regular 604 36 8
Bryant Elementary School Middle Regular 604 36 8
Bowie High School High Regular 3,053 194 5

Bryant Elementary School

  • Education Level: Primary
  • # of students: 604
  • # of teachers: 36
8
GreatSchools Rating

Bryant Elementary School

  • Education Level: Middle
  • # of students: 604
  • # of teachers: 36
8
GreatSchools Rating

Bowie High School

  • Education Level: High
  • # of students: 3,053
  • # of teachers: 194
5
GreatSchools Rating
 

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

PURCHASE PRICE

$1,566$1,914$1,740

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,740
EXPENSES Loan Payment -$973
Property Tax -$606
Property Insurance -$150
Property Management Fees -$99
CASH FLOW
-$87

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

$1,740

PROJECTED RENT

0.62%

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.

$973

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $70,000
Loan Amount $210,000
See What Happens When You Reinvest Cash Flow

2.83

YEARS SAVED

$6,440

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,740

    LIST RENT
  • $0.82

    LIST RENT PER SQFT
  • $1,900

    COMP ESTIMATED VALUE
  • $0.9

    COMP AVG. RENT PER SQFT
Comps Range
$1,725
1$1,7252$1,7403$1,7954$1,8905$1,990
$1,990
RENT COMPS ANALYSIS
  • 2206 Gladstone Drive Arlington, TX 2
    • 3 beds 2 baths ∙ 2,117 Sqft ∙ Built 1984 3 beds 2 baths ∙ 2,117 Sqft ∙ Built 1984
    • Rent
    • Rent Per SQFT
    •  
    • $1,740
    • $0.82
    •  
  • 5639 Indian Hill Drive Arlington, TX 1
    • 4 beds 2 baths ∙ 1,935 Sqft ∙ Built 1997 4 beds 2 baths ∙ 1,935 Sqft ∙ Built 1997
    LEASED 02/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,725
    • $0.89
    •  
  • 2210 Gladstone Drive Arlington, TX 3
    • 3 beds 2 baths ∙ 2,050 Sqft ∙ Built 1985 3 beds 2 baths ∙ 2,050 Sqft ∙ Built 1985
    LEASED 04/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.88
    •  
  • 5310 Hillcroft Avenue Arlington, TX 4
    • 4 beds 2 baths ∙ 2,075 Sqft ∙ Built 2004 4 beds 2 baths ∙ 2,075 Sqft ∙ Built 2004
    LEASED 07/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,890
    • $0.91
    •  
  • 4551 Whitehall Drive Grand Prairie, TX 5
    • 4 beds 2 baths ∙ 2,191 Sqft ∙ Built 1996 4 beds 2 baths ∙ 2,191 Sqft ∙ Built 1996
    LEASED 09/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,990
    • $0.91
    •  
PROPERTY LISTING DETAILS
Eman Kandil
Jp & Associates Flower Mound
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14501334
Last Updated: 01/16/2021
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