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2208 Cork Oak Court Arlington, TX 76012

4 Beds 3 Baths 3,050 sqft Built 1985

$365,000

List Price

$2,620

$2.4K - $2.9K

Rent Est.

PROPERTY INFO

February 04, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1985
  • Price/Sqft : $119.67
  • 4 Days on Market
  • MLS # : 14510649
  • Updated Date : 02/06/2021 at 23:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,050 sqft
  • Baths : 3 full
Listing Agent

Front Real Estate Co

Listing Agent's Description

An entertainer's dream! SO much living space inside and out. Living features 2-story ceilings, a brick fireplace, and a gorgeous suspended wood staircase. Gameroom with wet bar, large kitchen, 2 dining areas, office space, and master suite all downstairs! The master suite has a gas fireplace, large walk-in closet, updated shower, and a jacuzzi tub ROOM, perfect for a gym or yoga space. 3 bedrooms and a full bathroom upstairs. 4th bedroom has built-in cabinets and a balcony, great for a playroom. If you still need more space, step outside to the newly updated back patio. Large covered and uncovered flagstone patio areas for all the bird watching, game watching, and BBQ'ing you can handle.Butler~Shack~Lamar

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: Enchanted Oaks

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $117k336k

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

Neighborhood: Enchanted Oaks

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800190020002100Rent in $10222171

* 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
Shackelford Junior High School Middle Regular 722 49 5
Lamar High School High Regular 2,918 185 3
Shackelford Junior High School Middle Unknown NA

Shackelford Junior High School

  • Education Level: Middle
  • # of students: 722
  • # of teachers: 49
5
GreatSchools Rating

Lamar High School

  • Education Level: High
  • # of students: 2,918
  • # of teachers: 185
3
GreatSchools Rating

Shackelford Junior High School

  • Education Level: Middle
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$328,500$401,500$365,000

PURCHASE PRICE

$2,358$2,882$2,620

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,620
EXPENSES Loan Payment -$1,268
Property Tax -$790
Property Insurance -$203
Property Management Fees -$99
CASH FLOW
$260

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 15% of earned rent to cover both maintenance and periods of vacancy.

$365,000

PROJECTED PRICE

$2,620

PROJECTED RENT

0.72%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 7.2%
Maintenance Year (1-5) 8.00%
Vacancy 6.93%
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$0.0$5.0k$10k$15k

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$102,475

INVESTMENT

$102,475

Down Payment
$91,250
Rehab Estimate
$5,750
Closing Costs
$5,475

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,268

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $91,250
Loan Amount $273,750
See What Happens When You Reinvest Cash Flow

7.92

YEARS SAVED

$37,830

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,620

    LIST RENT
  • $0.86

    LIST RENT PER SQFT
  • $2,631

    COMP ESTIMATED VALUE
  • $0.86

    COMP AVG. RENT PER SQFT
Comps Range
$2,500
1$2,5002$2,5003$2,6004$2,6205$2,795
$2,795
RENT COMPS ANALYSIS
  • 2208 Cork Oak Court Arlington, TX 4
    • 4 beds 4 baths ∙ 3,050 Sqft ∙ Built 1985 4 beds 4 baths ∙ 3,050 Sqft ∙ Built 1985
    • Rent
    • Rent Per SQFT
    •  
    • $2,620
    • $0.86
    •  
  • 1308 Crowley Road Arlington, TX 1
    • 4 beds 3 baths ∙ 2,812 Sqft ∙ Built 1974 4 beds 3 baths ∙ 2,812 Sqft ∙ Built 1974
    LEASED 08/08/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.89
    •  
  • 1304 Millbrook Drive Arlington, TX 2
    • 4 beds 3 baths ∙ 2,858 Sqft ∙ Built 1974 4 beds 3 baths ∙ 2,858 Sqft ∙ Built 1974
    LEASED 05/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.87
    •  
  • 1200 Woodbine Street Arlington, TX 3
    • 4 beds 4 baths ∙ 3,063 Sqft ∙ Built 1994 4 beds 4 baths ∙ 3,063 Sqft ∙ Built 1994
    LEASED 09/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $0.85
    •  
  • 2004 Lake Country Drive Arlington, TX 5
    • 5 beds 4 baths ∙ 3,321 Sqft ∙ Built 1980 5 beds 4 baths ∙ 3,321 Sqft ∙ Built 1980
    LEASED 02/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,795
    • $0.84
    •  
PROPERTY LISTING DETAILS
Erin Bergin
Front Real Estate Co
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14510649
Last Updated: 02/06/2021
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