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2300 Montego Drive Arlington, TX 76002

4 Beds 3 Baths 3,240 sqft Built 2000

$314,900

List Price

$1,970

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

December 17, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2000
  • Price/Sqft : $97.19
  • 7 Days on Market
  • MLS # : 14486272
  • Updated Date : 12/18/2020 at 10:06
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,240 sqft
  • Baths : 2 full , 1 half
Listing Agent

Avazco Realty Group

Listing Agent's Description

BEAUTIFUL HOME! THIS 4 BEDROOMS, 2.5 BATH, 3 LIVING AREAS, 2 CAR GARAGE IN FRONT WITH 23FT. SLIDING GATE TO ACCESS EXTRA DRIVEWAY IN REAR. 16X19 HEATED AND COOLED AREA IN BACK OF HOME NOT INCLUDED IN THE SQ.FT. UPDATE KITCHEN AND BATHROOMS ENGINNEERED WOOD FLOORS AND CERAMIC TILE THROUGH OUT DOWNSTAIRS, GRANITE COUNTERTOPS AND SO MUCH MORE. BACKYARD INCLUDE GAZEBO WITH A BAR AREA AND A SWIMMING POOL. A MUST SEE!!!!

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: Lake Port Village

NeighborhoodNIR Market*CityMarket2010Year20002019120k130k140k150k160k170k180k190k200k210k220k230k240kPrice in $117k247k

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

Neighborhood: Lake Port Village

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800Rent in $10221876

* 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
Thelma Jones Elementary School Primary Regular 551 36 8
James Coble Middle School Middle Regular 884 55 7
Mansfield Timberview High School High Regular 1,657 94 5

Thelma Jones Elementary School

  • Education Level: Primary
  • # of students: 551
  • # of teachers: 36
8
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
 

$283,410$346,390$314,900

PURCHASE PRICE

$1,773$2,167$1,970

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,970
EXPENSES Loan Payment -$1,162
Property Tax -$682
Property Insurance -$214
Property Management Fees -$99
CASH FLOW
-$187

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.

$314,900

PROJECTED PRICE

$1,970

PROJECTED RENT

0.63%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 6.0%
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

PROJECTED ANNUAL CASH FLOW

11530-$6.0k-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$89,199

INVESTMENT

$89,199

Down Payment
$78,725
Rehab Estimate
$5,750
Closing Costs
$4,724

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$1,162

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $78,725
Loan Amount $236,175
See What Happens When You Reinvest Cash Flow

1.67

YEARS SAVED

$4,104

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,970

    LIST RENT
  • $0.61

    LIST RENT PER SQFT
  • $1,976

    COMP ESTIMATED VALUE
  • $0.61

    COMP AVG. RENT PER SQFT
Comps Range
$1,895
1$1,8952$1,8993$1,9704$2,0405$2,300
$2,300
RENT COMPS ANALYSIS
  • 2300 Montego Drive Arlington, TX 3
    • 4 beds 3 baths ∙ 3,240 Sqft ∙ Built 2000 4 beds 3 baths ∙ 3,240 Sqft ∙ Built 2000
    • Rent
    • Rent Per SQFT
    •  
    • $1,970
    • $0.61
    •  
  • 1919 Tampa Bay Way Arlington, TX 1
    • 4 beds 3 baths ∙ 3,276 Sqft ∙ Built 2000 4 beds 3 baths ∙ 3,276 Sqft ∙ Built 2000
    LEASED 02/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.58
    •  
  • 7009 Oconnor Street Arlington, TX 2
    • 4 beds 3 baths ∙ 3,292 Sqft ∙ Built 2000 4 beds 3 baths ∙ 3,292 Sqft ∙ Built 2000
    LEASED 10/04/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,899
    • $0.58
    •  
  • 3128 Teodoro Drive Grand Prairie, TX 4
    • 4 beds 3 baths ∙ 3,183 Sqft ∙ Built 2001 4 beds 3 baths ∙ 3,183 Sqft ∙ Built 2001
    LEASED 07/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,040
    • $0.64
    •  
  • 3104 Pompi Drive Grand Prairie, TX 5
    • 5 beds 3 baths ∙ 3,575 Sqft ∙ Built 2001 5 beds 3 baths ∙ 3,575 Sqft ∙ Built 2001
    LEASED 09/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.64
    •  
PROPERTY LISTING DETAILS
Alberto Vazquez
Avazco Realty Group
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14486272
Last Updated: 12/18/2020
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