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2816 Long Slope Road Arlington, TX 76001

3 Beds 3 Baths 2,425 sqft Built 2019

$385,900

List Price

$1,950

$1.8K - $2.1K

Rent Est.

PROPERTY INFO

January 15, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2019
  • Price/Sqft : $159.13
  • 3 Days on Market
  • MLS # : 14499972
  • Updated Date : 01/15/2021 at 14:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,425 sqft
  • Baths : 3 full
Listing Agent

Creekview Realty

Listing Agent's Description

Newly constructed home with open floorplan, modern finishes, stainless kitchen appliances, large island, shaker cabinets, quartz countertops. BRAND NEW refrigerator, washer and dryer included!!! Large first floor master with two his & her walk-in closets. Second floor includes large loft and 3rd bedroom with walk in closet and full bathroom. This property is in A rated Mansfield ISD and elementary school within walking distance. 287, I-20 and 360 are close by. Target, Kroger, Tom Thumb and restaurants are less than 10 minutes away. Sellers are relocating in the coming months for work. This property won’t last long. Schedule your visit today.

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: Southwest Arlington

NeighborhoodNIR Market*CityMarket2010Year20002019120k130k140k150k160k170k180k190k200k210k220k230k240k250kPrice in $117k250k

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

Neighborhood: Southwest Arlington

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21100120013001400150016001700Rent in $10221790

* 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
Carol Holt Elementary School Primary Regular 476 32 7
T.a. Howard Middle School Middle Regular 855 59 6
Mansfield Legacy High School High Regular 1,945 103 6

Carol Holt Elementary School

  • Education Level: Primary
  • # of students: 476
  • # of teachers: 32
7
GreatSchools Rating

T.a. Howard Middle School

  • Education Level: Middle
  • # of students: 855
  • # of teachers: 59
6
GreatSchools Rating

Mansfield Legacy High School

  • Education Level: High
  • # of students: 1,945
  • # of teachers: 103
6
GreatSchools Rating
 

$347,310$424,490$385,900

PURCHASE PRICE

$1,755$2,145$1,950

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,950
EXPENSES Loan Payment -$1,340
Property Tax -$835
Property Insurance -$167
HOA -$58
Property Management Fees -$99
CASH FLOW
-$550

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.

$385,900

PROJECTED PRICE

$1,950

PROJECTED RENT

0.51%

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$1.2M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$108,014

INVESTMENT

$108,014

Down Payment
$96,475
Rehab Estimate
$5,750
Closing Costs
$5,789

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 80% down payment or higher enables the proceeds from the asset to cover all costs.

$1,340

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $96,475
Loan Amount $289,425
See What Happens When You Reinvest Cash Flow

0

YEARS SAVED

$17

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,950

    LIST RENT
  • $0.8

    LIST RENT PER SQFT
  • $2,213

    COMP ESTIMATED VALUE
  • $0.91

    COMP AVG. RENT PER SQFT
Comps Range
$1,950
1$1,9502$1,9953$2,1004$2,1005$2,100
$2,100
RENT COMPS ANALYSIS
  • 2816 Long Slope Road Arlington, TX 1
    • 3 beds 3 baths ∙ 2,425 Sqft ∙ Built 2019 3 beds 3 baths ∙ 2,425 Sqft ∙ Built 2019
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.80
    •  
  • 2309 Eden Green Drive Arlington, TX 2
    • 4 beds 2 baths ∙ 2,338 Sqft ∙ Built 2000 4 beds 2 baths ∙ 2,338 Sqft ∙ Built 2000
    LEASED 06/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.85
    •  
  • 7308 Heritage Oaks Court Arlington, TX 3
    • 3 beds 2 baths ∙ 2,273 Sqft ∙ Built 2000 3 beds 2 baths ∙ 2,273 Sqft ∙ Built 2000
    LEASED 07/23/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.92
    •  
  • 2326 Point Star Drive Arlington, TX 4
    • 4 beds 2 baths ∙ 2,202 Sqft ∙ Built 2002 4 beds 2 baths ∙ 2,202 Sqft ∙ Built 2002
    LEASED 07/18/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.95
    •  
  • 2319 Glenmoor Drive Arlington, TX 5
    • 3 beds 2 baths ∙ 2,255 Sqft ∙ Built 2001 3 beds 2 baths ∙ 2,255 Sqft ∙ Built 2001
    LEASED 11/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.93
    •  
PROPERTY LISTING DETAILS
John Prell
Creekview Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14499972
Last Updated: 01/15/2021
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