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3702 Ruidoso Drive Arlington, TX 76017

3 Beds 2 Baths 2,048 sqft Built 1983

$291,900

List Price

$1,880

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

February 09, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1983
  • Price/Sqft : $142.53
  • 6 Days on Market
  • MLS # : 14515905
  • Updated Date : 02/09/2021 at 16:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,048 sqft
  • Baths : 2 full
Listing Agent

Berkshire Hathawayhs Penfed Tx

Listing Agent's Description

Come take a look at this 3 bedroom, 2 full bathroom home with updated landscaping and a swing garage! You will love walking into this single-story home with warm colors and a great floorplan. Timeless galley style kitchen is open to the living room and offers a generous amount of cabinetry and counter space with nice windows that let the natural light shine throughout the home. The spacious living room offers a warm and cozy fireplace and a wall of windows that look out to the sunroom and backyard. Memories to be made in the huge backyard that offers plenty of room for pets and play. Great location close to schools, parks, and minutes to I-20.

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

Neighborhood: Belle Meade

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $117k336k

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

Neighborhood: Belle Meade

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
Boles Junior High School Middle Regular 724 50 8
Martin High School High Regular 3,361 199 7
Boles Junior High School Middle Unknown NA

Boles Junior High School

  • Education Level: Middle
  • # of students: 724
  • # of teachers: 50
8
GreatSchools Rating

Martin High School

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

Boles Junior High School

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

$262,710$321,090$291,900

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 -$1,014
Property Tax -$632
Property Insurance -$146
Property Management Fees -$99
CASH FLOW
-$10

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.

$291,900

PROJECTED PRICE

$1,880

PROJECTED RENT

0.64%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 8.4%
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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$83,104

INVESTMENT

$83,104

Down Payment
$72,975
Rehab Estimate
$5,750
Closing Costs
$4,379

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,014

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $72,975
Loan Amount $218,925
See What Happens When You Reinvest Cash Flow

4.17

YEARS SAVED

$11,708

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
  • $0.92

    LIST RENT PER SQFT
  • $1,915

    COMP ESTIMATED VALUE
  • $0.94

    COMP AVG. RENT PER SQFT
Comps Range
$1,795
1$1,7952$1,8753$1,8804$2,0005$2,100
$2,100
RENT COMPS ANALYSIS
  • 3702 Ruidoso Drive Arlington, TX 3
    • 3 beds 2 baths ∙ 2,048 Sqft ∙ Built 1983 3 beds 2 baths ∙ 2,048 Sqft ∙ Built 1983
    • Rent
    • Rent Per SQFT
    •  
    • $1,880
    • $0.92
    •  
  • 5603 Misty Crest Drive Arlington, TX 1
    • 3 beds 2 baths ∙ 2,002 Sqft ∙ Built 1987 3 beds 2 baths ∙ 2,002 Sqft ∙ Built 1987
    LEASED 08/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.90
    •  
  • 5500 Dana Point Drive Arlington, TX 2
    • 4 beds 3 baths ∙ 2,021 Sqft ∙ Built 1983 4 beds 3 baths ∙ 2,021 Sqft ∙ Built 1983
    LEASED 11/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,875
    • $0.93
    •  
  • 3407 Ruidoso Drive Arlington, TX 4
    • 4 beds 2 baths ∙ 2,237 Sqft ∙ Built 1983 4 beds 2 baths ∙ 2,237 Sqft ∙ Built 1983
    LEASED 10/23/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.89
    •  
  • 3207 Flintridge Court Arlington, TX 5
    • 4 beds 3 baths ∙ 2,049 Sqft ∙ Built 1984 4 beds 3 baths ∙ 2,049 Sqft ∙ Built 1984
    LEASED 03/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.02
    •  
PROPERTY LISTING DETAILS
Wendy Galloway
Berkshire Hathawayhs Penfed Tx
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14515905
Last Updated: 02/09/2021
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