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3108 Stornoway Trail Arlington, TX 76012

3 Beds 2 Baths 2,119 sqft Built 2000

$280,000

List Price

$1,880

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 25, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2000
  • Price/Sqft : $132.14
  • 4 Days on Market
  • MLS # : 14538234
  • Updated Date : 03/25/2021 at 20:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,119 sqft
  • Baths : 2 full
Listing Agent

Re/max Trinity

Listing Agent's Description

This spacious one-story 2 bedroom beauty is perfect for those looking for easy living with style! The flexible floorplan offers two living spaces for those who may need a home office, home gym, craft room or capacity for a 3rd bedroom. This gated community offers easy access to Division Street in the heart of the Metroplex. HOA takes care of the lawn for you so you can just relax and enjoy the charming private patio. Each room in the home basks in an abundance of natural light for that great light & airy feel. Be ready to bring your gourmet skill to this well anointed kitchen with tons of storage. The large master offers extra sitting area and gorgeous master bath & walk-ins.

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: Loch'n'green Village

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $117k336k

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

Neighborhood: Loch'n'green Village

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2110012001300140015001600170018001900200021002200Rent in $10222253

* 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
Shackelford Junior High School Middle Regular 722 49 5
Lamar High School High Regular 2,918 185 3
Shackelford Junior High School Middle Unknown NA

Shackelford Junior High School

  • Education Level: Middle
  • # of students: 722
  • # of teachers: 49
5
GreatSchools Rating

Lamar High School

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

Shackelford Junior High School

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

$252,000$308,000$280,000

PURCHASE PRICE

$1,692$2,068$1,880

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,880
EXPENSES Loan Payment -$973
Property Tax -$606
Property Insurance -$150
HOA -$130
Property Management Fees -$99
CASH FLOW
-$78

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.

$280,000

PROJECTED PRICE

$1,880

PROJECTED RENT

0.67%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 7.2%
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$100k$200k$300k$400k$500k$600k$700k$800k$900k

PROJECTED ANNUAL CASH FLOW

11530-$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$100k$200k$300k$400k$500k$600k$700k$800k$900k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$79,950

INVESTMENT

$79,950

Down Payment
$70,000
Rehab Estimate
$5,750
Closing Costs
$4,200

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$973

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $70,000
Loan Amount $210,000
See What Happens When You Reinvest Cash Flow

2.58

YEARS SAVED

$5,972

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,880

    LIST RENT
  • $0.89

    LIST RENT PER SQFT
  • $2,135

    COMP ESTIMATED VALUE
  • $1.01

    COMP AVG. RENT PER SQFT
Comps Range
$1,695
1$1,6952$1,8003$1,8504$1,8805$1,895
$1,895
RENT COMPS ANALYSIS
  • 3108 Stornoway Trail Arlington, TX 4
    • 3 beds 2 baths ∙ 2,119 Sqft ∙ Built 2000 3 beds 2 baths ∙ 2,119 Sqft ∙ Built 2000
    • Rent
    • Rent Per SQFT
    •  
    • $1,880
    • $0.89
    •  
  • 2805 Merry View Lane Fort Worth, TX 1
    • 3 beds 2 baths ∙ 1,774 Sqft ∙ Built 2007 3 beds 2 baths ∙ 1,774 Sqft ∙ Built 2007
    LEASED 10/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.96
    •  
  • 8300 Windsor Forest Drive Fort Worth, TX 2
    • 4 beds 2 baths ∙ 1,819 Sqft ∙ Built 2017 4 beds 2 baths ∙ 1,819 Sqft ∙ Built 2017
    LEASED 06/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.99
    •  
  • 1003 Andromeda Way Arlington, TX 3
    • 3 beds 2 baths ∙ 1,786 Sqft ∙ Built 2001 3 beds 2 baths ∙ 1,786 Sqft ∙ Built 2001
    LEASED 09/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $1.04
    •  
  • 1837 Manor Ridge Way Fort Worth, TX 5
    • 4 beds 2 baths ∙ 1,830 Sqft ∙ Built 2004 4 beds 2 baths ∙ 1,830 Sqft ∙ Built 2004
    LEASED 04/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $1.04
    •  
PROPERTY LISTING DETAILS
Tracey Amaya
Re/max Trinity
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14538234
Last Updated: 03/25/2021
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