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231 Jennifer Lane Arlington, TX 76002

3 Beds 2 Baths 1,832 sqft Built 1995

$264,700

List Price

$1,680

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

December 02, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1995
  • Price/Sqft : $144.49
  • 5 Days on Market
  • MLS # : 14478112
  • Updated Date : 12/02/2020 at 18:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,832 sqft
  • Baths : 2 full
Listing Agent

The Michael Group Real Estate

Listing Agent's Description

Great Location in a wonderland neighborhood, with parks and green spaces.....Beautiful home with 3-2-2 Wonderful huge living with wood burning fireplace, and great wall of windows to view back with pool....Formal Dinning with wonderful natural light....Cozy kitchen with large nook over looking back yard....Home has a perfect layout with split bedroom arrangement...Master Bedroom is spacious with wall of windows, updated bathroom with new Tiled shower. Huge back yard with massive pool for great summer time fun, concrete pad for a hot tub or shed. Take this house home for Christmas!!!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • # 1 in the country for job growth in 2017 (2.6% growth, 91,700 new jobs) (US Census, Forbes, 2017)

PRICE & RENT TRENDS

Neighborhood: Highland Trail

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $117k336k

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

Neighborhood: Highland Trail

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
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
 

$238,230$291,170$264,700

PURCHASE PRICE

$1,512$1,848$1,680

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,680
EXPENSES Loan Payment -$977
Property Tax -$573
Property Insurance -$133
Property Management Fees -$99
CASH FLOW
-$102

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.

$264,700

PROJECTED PRICE

$1,680

PROJECTED RENT

0.63%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 4.1%
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$100k$200k$300k$400k$500k$600k$700k

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$75,896

INVESTMENT

$75,896

Down Payment
$66,175
Rehab Estimate
$5,750
Closing Costs
$3,971

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$977

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $66,175
Loan Amount $198,525
See What Happens When You Reinvest Cash Flow

2.67

YEARS SAVED

$6,910

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,680

    LIST RENT
  • $0.92

    LIST RENT PER SQFT
  • $1,736

    COMP ESTIMATED VALUE
  • $0.95

    COMP AVG. RENT PER SQFT
Comps Range
$1,550
1$1,5502$1,5603$1,5954$1,6805$1,695
$1,695
RENT COMPS ANALYSIS
  • 231 Jennifer Lane Arlington, TX 4
    • 3 beds 2 baths ∙ 1,832 Sqft ∙ Built 1995 3 beds 2 baths ∙ 1,832 Sqft ∙ Built 1995
    • Rent
    • Rent Per SQFT
    •  
    • $1,680
    • $0.92
    •  
  • 6206 Patriotic Court Arlington, TX 1
    • 3 beds 2 baths ∙ 1,688 Sqft ∙ Built 1985 3 beds 2 baths ∙ 1,688 Sqft ∙ Built 1985
    LEASED 10/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.92
    •  
  • 425 Betsy Ross Drive Arlington, TX 2
    • 3 beds 2 baths ∙ 1,683 Sqft ∙ Built 1984 3 beds 2 baths ∙ 1,683 Sqft ∙ Built 1984
    LEASED 10/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,560
    • $0.93
    •  
  • 217 Faircrest Drive Arlington, TX 3
    • 3 beds 2 baths ∙ 1,720 Sqft ∙ Built 1993 3 beds 2 baths ∙ 1,720 Sqft ∙ Built 1993
    LEASED 06/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.93
    •  
  • 6518 Country Creek Drive Arlington, TX 5
    • 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
    •  
PROPERTY LISTING DETAILS
Carol Wymack
The Michael Group Real Estate
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14478112
Last Updated: 12/02/2020
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