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305 Katydid Court Arlington, TX 76002

4 Beds 2 Baths 2,041 sqft Built 2003

$269,900

List Price

$1,790

$1.6K - $2K

Rent Est.

PROPERTY INFO

December 05, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2003
  • Price/Sqft : $132.24
  • 4 Days on Market
  • MLS # : 14480710
  • Updated Date : 12/04/2020 at 23:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,041 sqft
  • Baths : 2 full
Listing Agent

Century 21 Judge Fite Company

Listing Agent's Description

Nice, Large open floor plan with plenty of space to move around and enjoy! Great sized bedrooms with plenty of closet space. Lovely kitchen, that includes breakfast bar, island, and breakfast nook beside open bay windows. Enclosed bonus area by breakfast area, space to use as office, crafts, or exercise in. CORNER LOT, the backyard is huge that includes a shed for storage, deck area to relax and spend time in the great outdoors! Come see to make this your next home!

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

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
 

$242,910$296,890$269,900

PURCHASE PRICE

$1,611$1,969$1,790

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,790
EXPENSES Loan Payment -$996
Property Tax -$584
Property Insurance -$145
Property Management Fees -$99
CASH FLOW
-$34

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.

$269,900

PROJECTED PRICE

$1,790

PROJECTED RENT

0.66%

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

PROJECTED ANNUAL CASH FLOW

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

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$77,274

INVESTMENT

$77,274

Down Payment
$67,475
Rehab Estimate
$5,750
Closing Costs
$4,049

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$996

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $67,475
Loan Amount $202,425
See What Happens When You Reinvest Cash Flow

3.92

YEARS SAVED

$11,786

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,790

    LIST RENT
  • $0.88

    LIST RENT PER SQFT
  • $1,771

    COMP ESTIMATED VALUE
  • $0.87

    COMP AVG. RENT PER SQFT
Comps Range
$1,700
1$1,7002$1,7453$1,7904$1,8005$1,850
$1,850
RENT COMPS ANALYSIS
  • 305 Katydid Court Arlington, TX 3
    • 4 beds 2 baths ∙ 2,041 Sqft ∙ Built 2003 4 beds 2 baths ∙ 2,041 Sqft ∙ Built 2003
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,790
    • $0.88
    •  
  • 7207 Harris Meadows Drive Arlington, TX 1
    • 3 beds 2 baths ∙ 1,928 Sqft ∙ Built 2001 3 beds 2 baths ∙ 1,928 Sqft ∙ Built 2001
    property image
    LEASED 08/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.88
    •  
  • 616 White Swan Drive Arlington, TX 2
    • 4 beds 2 baths ∙ 2,128 Sqft ∙ Built 2001 4 beds 2 baths ∙ 2,128 Sqft ∙ Built 2001
    property image
    LEASED 05/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,745
    • $0.82
    •  
  • 316 Flushing Quail Drive Arlington, TX 4
    • 4 beds 2 baths ∙ 2,004 Sqft ∙ Built 2001 4 beds 2 baths ∙ 2,004 Sqft ∙ Built 2001
    property image
    LEASED 06/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.90
    •  
  • 6910 Thunderbird Drive Arlington, TX 5
    • 4 beds 2 baths ∙ 2,136 Sqft ∙ Built 2000 4 beds 2 baths ∙ 2,136 Sqft ∙ Built 2000
    property image
    LEASED 12/04/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.87
    •  
PROPERTY LISTING DETAILS
Christy Mendez
Century 21 Judge Fite Company
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14480710
Last Updated: 12/04/2020
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