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3608 Antares Way Arlington, TX 76016

4 Beds 4 Baths 3,708 sqft Built 1990

$399,000

List Price

$2,560

$2.3K - $2.8K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 28, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1990
  • Price/Sqft : $107.61
  • 1 Days on Market
  • MLS # : 14537708
  • Updated Date : 03/28/2021 at 00:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,708 sqft
  • Baths : 3 full , 1 half
Listing Agent

Ready Real Estate

Listing Agent's Description

EXCLUSIVE gated community of ANTARES! LIFETIME foundation repair warranty, INSPECTION completed Dec.2019. STUNNING 2-story: 4 living areas, 4 bedrooms-2 masters, 3.5 bathrooms, Jack & Jill bath serving 2 of the bedrooms. Newly painted kitchen cabinets, new carpet in formal living & upstairs, NEW energy efficient windows, roof LESS THAN 6 yrs., NEW upstairs AC. Downstairs living room with freshly painted built-ins & wet bar perfect for entertaining. LARGE kitchen is a dream with 2 pantries, stainless steel appliances, double ovens, granite counters & a large mobile island to move where you need it most. WALK to the lake! Martin High School district. Close to major highways & shopping.

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: West Arlington

NeighborhoodNIR Market*CityMarket2010Year20002019120k130k140k150k160k170k180k190k200k210k220k230k240kPrice in $117k243k

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

Neighborhood: West Arlington

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700Rent in $10001734

* 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
Young Junior High School Middle Regular 792 53 7
Martin High School High Regular 3,361 199 7
Young Junior High School Middle Unknown NA

Young Junior High School

  • Education Level: Middle
  • # of students: 792
  • # of teachers: 53
7
GreatSchools Rating

Martin High School

  • Education Level: High
  • # of students: 3,361
  • # of teachers: 199
7
GreatSchools Rating

Young Junior High School

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

$359,100$438,900$399,000

PURCHASE PRICE

$2,304$2,816$2,560

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,560
EXPENSES Loan Payment -$1,386
Property Tax -$864
Property Insurance -$241
HOA -$67
Property Management Fees -$99
CASH FLOW
-$97

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.

$399,000

PROJECTED PRICE

$2,560

PROJECTED RENT

0.64%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 9.2%
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$1.4M

PROJECTED ANNUAL CASH FLOW

11530-$6.0k-$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$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$111,485

INVESTMENT

$111,485

Down Payment
$99,750
Rehab Estimate
$5,750
Closing Costs
$5,985

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,386

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $99,750
Loan Amount $299,250
See What Happens When You Reinvest Cash Flow

3

YEARS SAVED

$9,748

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,560

    LIST RENT
  • $0.69

    LIST RENT PER SQFT
  • $2,571

    COMP ESTIMATED VALUE
  • $0.69

    COMP AVG. RENT PER SQFT
Comps Range
$2,495
1$2,4952$2,4953$2,5604$2,750
$2,750
RENT COMPS ANALYSIS
  • 3608 Antares Way Arlington, TX 3
    • 4 beds 4 baths ∙ 3,708 Sqft ∙ Built 1990 4 beds 4 baths ∙ 3,708 Sqft ∙ Built 1990
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,560
    • $0.69
    •  
  • 4309 Enchanted Oaks Drive Arlington, TX 1
    • 4 beds 5 baths ∙ 3,523 Sqft ∙ Built 2001 4 beds 5 baths ∙ 3,523 Sqft ∙ Built 2001
    property image
    LEASED 10/16/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,495
    • $0.71
    •  
  • 7414 Bay Chase Drive Arlington, TX 2
    • 4 beds 3 baths ∙ 3,634 Sqft ∙ Built 1991 4 beds 3 baths ∙ 3,634 Sqft ∙ Built 1991
    property image
    LEASED 05/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,495
    • $0.69
    •  
  • 5411 Vicksburg Drive Arlington, TX 4
    • 5 beds 4 baths ∙ 4,029 Sqft ∙ Built 2001 5 beds 4 baths ∙ 4,029 Sqft ∙ Built 2001
    property image
    LEASED 12/11/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,750
    • $0.68
    •  
PROPERTY LISTING DETAILS
Cynthia Davis
Ready Real Estate
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14537708
Last Updated: 03/28/2021
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