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301 Dimes Street Arlington, TX 76002

4 Beds 3 Baths 2,975 sqft Built 2003

$319,900

List Price

$1,960

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

January 09, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2003
  • Price/Sqft : $107.53
  • 2 Days on Market
  • MLS # : 14497118
  • Updated Date : 01/09/2021 at 15:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,975 sqft
  • Baths : 3 full
Listing Agent

Berkshire Hathawayhs Penfed Tx

Listing Agent's Description

UPDATED AND READY FOR NEW OWNERS! The is the one you having been waiting for with 4 bedrooms, 3 full bathrooms and close to 3000 sq.ft.! Two story foyer greets you as you walk through the front door and shows off the open concept floorplan. The living room wood floors have been sanded and restained. The kitchen is open to the living room and features tons of cabinetry, a large island and generous counter space for prepping meals. Step out to the covered patio and enjoy the huge backyard. New roof, water heater, carpet and paint! Convenient location to parks, schools, Joe Pool Lake and Hwy 360. Buyer & Buyer Agent to verify all info including, but not limited to, room dimensions, features, schools.

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: Meadow Vista

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $117k336k

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

Neighborhood: Meadow Vista

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
Pearcy Elementary School Primary Regular 483 33 9
Pearcy Elementary School Middle Regular 483 33 9
Seguin High School High Regular 1,653 114 5

Pearcy Elementary School

  • Education Level: Primary
  • # of students: 483
  • # of teachers: 33
9
GreatSchools Rating

Pearcy Elementary School

  • Education Level: Middle
  • # of students: 483
  • # of teachers: 33
9
GreatSchools Rating

Seguin High School

  • Education Level: High
  • # of students: 1,653
  • # of teachers: 114
5
GreatSchools Rating
 

$287,910$351,890$319,900

PURCHASE PRICE

$1,764$2,156$1,960

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,960
EXPENSES Loan Payment -$1,111
Property Tax -$693
Property Insurance -$199
Property Management Fees -$99
CASH FLOW
-$142

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.

$319,900

PROJECTED PRICE

$1,960

PROJECTED RENT

0.61%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 11.3%
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$200k$400k$600k$800k$1.0M$1.2M

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$1.0M$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$90,524

INVESTMENT

$90,524

Down Payment
$79,975
Rehab Estimate
$5,750
Closing Costs
$4,799

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,111

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $79,975
Loan Amount $239,925
See What Happens When You Reinvest Cash Flow

2.17

YEARS SAVED

$4,908

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,960

    LIST RENT
  • $0.66

    LIST RENT PER SQFT
  • $2,142

    COMP ESTIMATED VALUE
  • $0.72

    COMP AVG. RENT PER SQFT
Comps Range
$1,960
1$1,9602$2,0953$2,1994$2,2005$2,200
$2,200
RENT COMPS ANALYSIS
  • 301 Dimes Street Arlington, TX 1
    • 4 beds 3 baths ∙ 2,975 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,975 Sqft ∙ Built 2003
    • Rent
    • Rent Per SQFT
    •  
    • $1,960
    • $0.66
    •  
  • 204 Matlock Meadow Drive Arlington, TX 2
    • 4 beds 3 baths ∙ 3,097 Sqft ∙ Built 2001 4 beds 3 baths ∙ 3,097 Sqft ∙ Built 2001
    LEASED 01/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,095
    • $0.68
    •  
  • 417 Kingfisher Lane Arlington, TX 3
    • 4 beds 3 baths ∙ 3,060 Sqft ∙ Built 2002 4 beds 3 baths ∙ 3,060 Sqft ∙ Built 2002
    LEASED 06/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,199
    • $0.72
    •  
  • 7609 Stanhope Lane Arlington, TX 4
    • 4 beds 3 baths ∙ 2,809 Sqft ∙ Built 2001 4 beds 3 baths ∙ 2,809 Sqft ∙ Built 2001
    LEASED 05/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.78
    •  
  • 7711 Albany Lane Arlington, TX 5
    • 4 beds 3 baths ∙ 3,126 Sqft ∙ Built 1996 4 beds 3 baths ∙ 3,126 Sqft ∙ Built 1996
    LEASED 08/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.70
    •  
PROPERTY LISTING DETAILS
Wendy Galloway
Berkshire Hathawayhs Penfed Tx
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14497118
Last Updated: 01/09/2021
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