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2327 Wilmette Drive Arlington, TX 76018

6 Beds 4 Baths 3,914 sqft Built 1999

$449,955

List Price

$2,400

$2.2K - $2.6K

Rent Est.

PROPERTY INFO

February 08, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1999
  • Price/Sqft : $114.96
  • 7 Days on Market
  • MLS # : 14515445
  • Updated Date : 02/08/2021 at 21:00
CONSTRUCTION
  • Beds : 6
  • Floor Size : 3,914 sqft
  • Baths : 3 full , 1 half
Listing Agent

Listing Results, Llc

Listing Agent's Description

A must see beautiful 6 bedrooms. WOW! This well kept home is spacious and waiting for a new family! There are 3.5 full bathrooms, split bedrooms with the Master down, catwalk, huge game room and jack n Jill bath. Wait until you see this large size backyard , Walk to schools. NICE back walking trail. SOLD AS-IS.

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: Fish Creek

NeighborhoodNIR Market*CityMarket2010Year20002019120k130k140k150k160k170k180k190k200k210k220k230k240kPrice in $117k243k

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

Neighborhood: Fish Creek

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2110012001300140015001600170018001900Rent in $10221941

* 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
Barnett Junior High School Middle Regular 893 69 6
Bowie High School High Regular 3,053 194 5
Barnett Junior High School Middle Unknown NA

Barnett Junior High School

  • Education Level: Middle
  • # of students: 893
  • # of teachers: 69
6
GreatSchools Rating

Bowie High School

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

Barnett Junior High School

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

$404,960$494,951$449,955

PURCHASE PRICE

$2,160$2,640$2,400

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,400
EXPENSES Loan Payment -$1,563
Property Tax -$974
Property Insurance -$253
Property Management Fees -$99
CASH FLOW
-$489

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.

$449,955

PROJECTED PRICE

$2,400

PROJECTED RENT

0.53%

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$1.2M$1.4M$1.6M

PROJECTED ANNUAL CASH FLOW

11530-$12k-$10k-$8.0k-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$124,988

INVESTMENT

$124,988

Down Payment
$112,489
Rehab Estimate
$5,750
Closing Costs
$6,749

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 75% down payment or higher enables the proceeds from the asset to cover all costs.

$1,563

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $112,489
Loan Amount $337,466
See What Happens When You Reinvest Cash Flow

0.33

YEARS SAVED

$249

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,400

    LIST RENT
  • $0.61

    LIST RENT PER SQFT
  • $2,714

    COMP ESTIMATED VALUE
  • $0.69

    COMP AVG. RENT PER SQFT
Comps Range
$2,400
1$2,4002$2,5003$2,7004$3,000
$3,000
RENT COMPS ANALYSIS
  • 2327 Wilmette Drive Arlington, TX 1
    • 6 beds 4 baths ∙ 3,914 Sqft ∙ Built 1999 6 beds 4 baths ∙ 3,914 Sqft ∙ Built 1999
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $0.61
    •  
  • 5275 Woodfield Drive Grand Prairie, TX 2
    • 5 beds 4 baths ∙ 3,830 Sqft ∙ Built 2007 5 beds 4 baths ∙ 3,830 Sqft ∙ Built 2007
    property image
    LEASED 09/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.65
    •  
  • 2883 Jerett Drive Grand Prairie, TX 3
    • 6 beds 4 baths ∙ 3,807 Sqft ∙ Built 2004 6 beds 4 baths ∙ 3,807 Sqft ∙ Built 2004
    property image
    LEASED 04/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $0.71
    •  
  • 4703 Kestrel Street Grand Prairie, TX 4
    • 5 beds 4 baths ∙ 4,195 Sqft ∙ Built 2006 5 beds 4 baths ∙ 4,195 Sqft ∙ Built 2006
    property image
    LEASED 07/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $0.72
    •  
PROPERTY LISTING DETAILS
Jack Mclemore
Listing Results, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14515445
Last Updated: 02/08/2021
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