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2319 Springmere Drive Arlington, TX 76012

4 Beds 3 Baths 2,860 sqft Built 2009

$339,900

List Price

$2,290

$2.1K - $2.5K

Rent Est.

PROPERTY INFO

December 04, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2009
  • Price/Sqft : $118.85
  • 3 Days on Market
  • MLS # : 14474274
  • Updated Date : 12/03/2020 at 20:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,860 sqft
  • Baths : 2 full , 1 half
Listing Agent

Merchant Realty Group

Listing Agent's Description

Gorgeous one owner home in highly desired gated Brighton Village Addition of North Arlington. This home boasts 3 living areas and 4 bedrooms! As you walk in you are greeted with a sitting area and formal dining followed by a open concept family room to the kitchen with gas fireplace. In the kitchen you will find granite counters with stainless steel appliances and raised panel cabinets. Large pantry and laundry room help make cleaning and storage easy. Wrought iron stairway shows off the front entry and upstairs living area. Backyard has open area for seating and a bbq grill. Recent updates include two new AC units in 2017, hot water heater in 2018 and new roof and gutters in 2020. Zoned for Butler Elementary.

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

Zip Code: 76012

ZipNIR Market*CityMarket2010Year20002019120k130k140k150k160k170k180k190k200k210k220k230k240k250kPrice in $117k253k

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

Zip Code: 76012

ZipNIR Market*CityMarket2010Year20002019 Q2110012001300140015001600170018001900Rent in $10221938

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

SCHOOLS

 
Sorry, we do not have sufficient school data for this neighborhood.
 

$305,910$373,890$339,900

PURCHASE PRICE

$2,061$2,519$2,290

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,290
EXPENSES Loan Payment -$1,254
Property Tax -$736
Property Insurance -$192
HOA -$50
Property Management Fees -$99
CASH FLOW
-$41

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.

$339,900

PROJECTED PRICE

$2,290

PROJECTED RENT

0.67%

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$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

11530-$6.0k-$4.0k-$2.0k$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$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$95,824

INVESTMENT

$95,824

Down Payment
$84,975
Rehab Estimate
$5,750
Closing Costs
$5,099

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,254

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $84,975
Loan Amount $254,925
See What Happens When You Reinvest Cash Flow

3.67

YEARS SAVED

$14,232

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,290

    LIST RENT
  • $0.8

    LIST RENT PER SQFT
  • $2,274

    COMP ESTIMATED VALUE
  • $0.8

    COMP AVG. RENT PER SQFT
Comps Range
$2,000
1$2,0002$2,1003$2,2004$2,2905$2,600
$2,600
RENT COMPS ANALYSIS
  • 2319 Springmere Drive Arlington, TX 4
    • 4 beds 3 baths ∙ 2,860 Sqft ∙ Built 2009 4 beds 3 baths ∙ 2,860 Sqft ∙ Built 2009
    • Rent
    • Rent Per SQFT
    •  
    • $2,290
    • $0.80
    •  
  • 2315 Springmere Drive Arlington, TX 1
    • 4 beds 3 baths ∙ 2,667 Sqft ∙ Built 2001 4 beds 3 baths ∙ 2,667 Sqft ∙ Built 2001
    LEASED 10/07/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.75
    •  
  • 9144 Cottonwood Village Drive Fort Worth, TX 2
    • 3 beds 3 baths ∙ 2,571 Sqft ∙ Built 2006 3 beds 3 baths ∙ 2,571 Sqft ∙ Built 2006
    LEASED 08/30/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.82
    •  
  • 1320 Cog Hill Drive Fort Worth, TX 3
    • 3 beds 3 baths ∙ 2,886 Sqft ∙ Built 2006 3 beds 3 baths ∙ 2,886 Sqft ∙ Built 2006
    LEASED 06/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.76
    •  
  • 1200 Woodbine Street Arlington, TX 5
    • 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
    •  
PROPERTY LISTING DETAILS
Ali Merchant
Merchant Realty Group
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14474274
Last Updated: 12/03/2020
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