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3611 High Plains Court Arlington, TX 76014

3 Beds 2 Baths 1,244 sqft Built 1984

$189,900

List Price

$1,390

$1.3K - $1.5K

Rent Est.

PROPERTY INFO

November 04, 2020 RECENTLY ADDED
FACTS
  • Built In 1984
  • Price/Sqft : $152.65
  • 5 Days on Market
  • MLS # : 14463767
  • Updated Date : 11/07/2020 at 17:26
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,244 sqft
  • Baths : 2 full
Listing Agent

Rendon Realty, Llc

Listing Agent's Description

** MULTIPLE OFFERS RECIEVED! ** ACCEPTANCE WILL BE SUNDAY BY 3:00PM LOCATION! LOCATION! This home is nestled near shopping & dinning areas, schools & more. This well maintained home features an open floor plan cozy fire place into the kitchen and nook area, large bedrooms. The side door exit to the large backyard allows you to enjoy your friend's and family in the patio. Come out & see it for your self.

SEE MORE

MARKET HIGHLIGHTS

  • . 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)
  • 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)

PRICE & RENT TRENDS

Zip Code: 76014

ZipNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240kPrice in $83k243k

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

Zip Code: 76014

ZipNIR Market*CityMarket2010Year20002019 Q290010001100120013001400150016001700Rent in $8651734

* 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
Burgin Elementary School Primary Regular 795 46 3
Workman Junior High School Middle Regular 590 44 4
Bowie High School High Regular 3,053 194 5

Burgin Elementary School

  • Education Level: Primary
  • # of students: 795
  • # of teachers: 46
3
GreatSchools Rating

Workman Junior High School

  • Education Level: Middle
  • # of students: 590
  • # of teachers: 44
4
GreatSchools Rating

Bowie High School

  • Education Level: High
  • # of students: 3,053
  • # of teachers: 194
5
GreatSchools Rating
 

$170,910$208,890$189,900

PURCHASE PRICE

$1,251$1,529$1,390

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,390
EXPENSES Loan Payment -$701
Property Tax -$411
Property Insurance -$99
Property Management Fees -$99
CASH FLOW
$80

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.

$189,900

PROJECTED PRICE

$1,390

PROJECTED RENT

0.73%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.74%
Appreciation Year (1-5) 12.8%
Maintenance Year (1-5) 8.00%
Vacancy 6.69%
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

PROJECTED ANNUAL CASH FLOW

11530-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$56,074

INVESTMENT

$56,074

Down Payment
$47,475
Rehab Estimate
$5,750
Closing Costs
$2,849

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$701

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $47,475
Loan Amount $142,425
See What Happens When You Reinvest Cash Flow

6.5

YEARS SAVED

$17,006

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,390

    LIST RENT
  • $1.12

    LIST RENT PER SQFT
  • $1,232

    COMP ESTIMATED VALUE
  • $0.99

    COMP AVG. RENT PER SQFT
Comps Range
$1,200
1$1,2002$1,3903$1,3954$1,4495$1,500
$1,500
RENT COMPS ANALYSIS
  • 3611 High Plains Court Arlington, TX 2
    • 3 beds 2 baths ∙ 1,244 Sqft ∙ Built 1984 3 beds 2 baths ∙ 1,244 Sqft ∙ Built 1984
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,390
    • $1.12
    •  
  • 1409 Roanoke Street Arlington, TX 1
    • 4 beds 2 baths ∙ 1,279 Sqft ∙ Built 1972 4 beds 2 baths ∙ 1,279 Sqft ∙ Built 1972
    property image
    LEASED 11/26/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,200
    • $0.94
    •  
  • 3420 Green Hill Drive Arlington, TX 3
    • 3 beds 2 baths ∙ 1,352 Sqft ∙ Built 1978 3 beds 2 baths ∙ 1,352 Sqft ∙ Built 1978
    property image
    LEASED 09/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $1.03
    •  
  • 1201 Brook Hill Lane Arlington, TX 4
    • 4 beds 2 baths ∙ 1,488 Sqft ∙ Built 1979 4 beds 2 baths ∙ 1,488 Sqft ∙ Built 1979
    property image
    LEASED 05/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,449
    • $0.97
    •  
  • 3601 Palmer Court Arlington, TX 5
    • 3 beds 2 baths ∙ 1,466 Sqft ∙ Built 1998 3 beds 2 baths ∙ 1,466 Sqft ∙ Built 1998
    property image
    LEASED 06/12/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $1.02
    •  
PROPERTY LISTING DETAILS
Patricia Perez
Rendon Realty, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14463767
Last Updated: 11/07/2020
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