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3015 Iron Stone Court Arlington, TX 76006

4 Beds 6 Baths 3,910 sqft Built 1992

$457,000

List Price

$2,660

$2.4K - $2.9K

Rent Est.

PROPERTY INFO

January 07, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1992
  • Price/Sqft : $116.88
  • 4 Days on Market
  • MLS # : 14495480
  • Updated Date : 01/09/2021 at 11:56
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,910 sqft
  • Baths : 3 full , 3 half
Listing Agent

Berkshire Hathawayhs Acr

Listing Agent's Description

This beautiful home is located in a highly desirable North Arlington neighborhood. This spacious sanctuary offers plenty of room for work, study and relaxation. A guest room on the main floor complements the master suite and two additional bedrooms upstairs. A study with gas fireplace and built-in bookcases make a warm home office or reading room. The large living room is built to entertain with a gas fireplace and picture windows looking out to a gorgeous outdoor living space and heavily wooded, secluded and landscaped back yard. A second living space upstairs has more built-ins and study space. The lower level includes a three-car garage, extra workshop space and a flex room that makes a great home gym.

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: Forest Hills Arlngton

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450kPrice in $117k491k

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

Neighborhood: Forest Hills Arlngton

NeighborhoodNIR Market*CityMarket2010Year20002019 Q212001400160018002000220024002600Rent in $10222762

* 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
Ellis Elementary School Primary Regular 927 52 4
Ellis Elementary School Middle Regular 927 52 4
Lamar High School High Regular 2,918 185 3

Ellis Elementary School

  • Education Level: Primary
  • # of students: 927
  • # of teachers: 52
4
GreatSchools Rating

Ellis Elementary School

  • Education Level: Middle
  • # of students: 927
  • # of teachers: 52
4
GreatSchools Rating

Lamar High School

  • Education Level: High
  • # of students: 2,918
  • # of teachers: 185
3
GreatSchools Rating
 

$411,300$502,700$457,000

PURCHASE PRICE

$2,394$2,926$2,660

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,660
EXPENSES Loan Payment -$1,587
Property Tax -$989
Property Insurance -$253
HOA -$106
Property Management Fees -$99
CASH FLOW
-$375

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.

$457,000

PROJECTED PRICE

$2,660

PROJECTED RENT

0.58%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 3.8%
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-$10k-$8.0k-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k

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$126,855

INVESTMENT

$126,855

Down Payment
$114,250
Rehab Estimate
$5,750
Closing Costs
$6,855

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$1,587

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $114,250
Loan Amount $342,750
See What Happens When You Reinvest Cash Flow

0.67

YEARS SAVED

$1,305

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,660

    LIST RENT
  • $0.68

    LIST RENT PER SQFT
  • $2,307

    COMP ESTIMATED VALUE
  • $0.59

    COMP AVG. RENT PER SQFT
Comps Range
$2,295
1$2,2952$2,660
$2,660
RENT COMPS ANALYSIS
  • 3015 Iron Stone Court Arlington, TX 2
    • 4 beds 6 baths ∙ 3,910 Sqft ∙ Built 1992 4 beds 6 baths ∙ 3,910 Sqft ∙ Built 1992
    • Rent
    • Rent Per SQFT
    •  
    • $2,660
    • $0.68
    •  
  • 2310 Crest Park Drive Arlington, TX 1
    • 4 beds 4 baths ∙ 3,867 Sqft ∙ Built 1996 4 beds 4 baths ∙ 3,867 Sqft ∙ Built 1996
    LEASED 04/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,295
    • $0.59
    •  
PROPERTY LISTING DETAILS
Ashley Shaw
Berkshire Hathawayhs Acr
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14495480
Last Updated: 01/09/2021
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