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3703 Big Bear Lake Drive Arlington, TX 76016

4 Beds 2 Baths 2,339 sqft Built 1983

$330,000

List Price

$1,880

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

December 04, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1983
  • Price/Sqft : $141.09
  • 3 Days on Market
  • MLS # : 14478777
  • Updated Date : 12/04/2020 at 15:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,339 sqft
  • Baths : 2 full
Listing Agent

Exp Realty, Llc

Listing Agent's Description

You'll love this beautifully maintained home in the highly desired Enchanted Lake Estates! Highlights include vaulted ceilings, a see-through wood-burning fireplace, a wet bar, recessed lighting, plantation shutters, quartz countertops in the kitchen, stainless steel appliances, just to name a few. You'll see that the home offers an ample amount of storage space and generously sized bedrooms! Enjoy relaxing on your open patio and deck, surrounded by gorgeous mature trees! The Enchanted Lake Estates community offers a pool, tennis courts and boat dock. Don't miss out on this must-see 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: Enchanted Lake Estates

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360k380kPrice in $117k391k

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

Neighborhood: Enchanted Lake Estates

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800190020002100220023002400Rent in $10222437

* 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
Miller Elementary School Primary Regular 769 47 3
Young Junior High School Middle Regular 792 53 7
Martin High School High Regular 3,361 199 7

Miller Elementary School

  • Education Level: Primary
  • # of students: 769
  • # of teachers: 47
3
GreatSchools Rating

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
 

$297,000$363,000$330,000

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 -$1,218
Property Tax -$714
Property Insurance -$162
HOA -$42
Property Management Fees -$99
CASH FLOW
-$355

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.

$330,000

PROJECTED PRICE

$1,880

PROJECTED RENT

0.57%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 3.8%
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

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$93,200

INVESTMENT

$93,200

Down Payment
$82,500
Rehab Estimate
$5,750
Closing Costs
$4,950

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 75% down payment or higher enables the proceeds from the asset to cover all costs.

$1,218

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $82,500
Loan Amount $247,500
See What Happens When You Reinvest Cash Flow

0.42

YEARS SAVED

$508

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
  • $0.8

    LIST RENT PER SQFT
  • $1,871

    COMP ESTIMATED VALUE
  • $0.8

    COMP AVG. RENT PER SQFT
Comps Range
$1,875
1$1,8752$1,8803$1,8954$1,9255$2,100
$2,100
RENT COMPS ANALYSIS
  • 3703 Big Bear Lake Drive Arlington, TX 2
    • 4 beds 2 baths ∙ 2,339 Sqft ∙ Built 1983 4 beds 2 baths ∙ 2,339 Sqft ∙ Built 1983
    • Rent
    • Rent Per SQFT
    •  
    • $1,880
    • $0.80
    •  
  • 4102 Twinhill Court Arlington, TX 1
    • 4 beds 3 baths ∙ 2,430 Sqft ∙ Built 1983 4 beds 3 baths ∙ 2,430 Sqft ∙ Built 1983
    LEASED 09/24/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,875
    • $0.77
    •  
  • 4103 Orchard Hill Drive Arlington, TX 3
    • 3 beds 2 baths ∙ 2,430 Sqft ∙ Built 1983 3 beds 2 baths ∙ 2,430 Sqft ∙ Built 1983
    LEASED 11/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.78
    •  
  • 4109 Orchard Hill Drive Arlington, TX 4
    • 4 beds 3 baths ∙ 2,430 Sqft ∙ Built 1983 4 beds 3 baths ∙ 2,430 Sqft ∙ Built 1983
    LEASED 06/06/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,925
    • $0.79
    •  
  • 4514 Lake Park Drive Arlington, TX 5
    • 4 beds 2 baths ∙ 2,449 Sqft ∙ Built 1983 4 beds 2 baths ∙ 2,449 Sqft ∙ Built 1983
    LEASED 08/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.86
    •  
PROPERTY LISTING DETAILS
Shannon Johnson
Exp Realty, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14478777
Last Updated: 12/04/2020
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