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3709 Pimlico Drive Arlington, TX 76017

3 Beds 2 Baths 1,986 sqft Built 1980

$265,000

List Price

$1,790

$1.6K - $2K

Rent Est.

PROPERTY INFO

November 05, 2020 RECENTLY ADDED
FACTS
  • Built In 1980
  • Price/Sqft : $133.43
  • 4 Days on Market
  • MLS # : 14466476
  • Updated Date : 11/05/2020 at 19:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,986 sqft
  • Baths : 2 full
Listing Agent

Redestin Real Estate

Listing Agent's Description

BEAUTIFULLY update home in a well established neighborhood and a desirable Martin High School! Home offers 3 bedrooms and 2 full bathrooms. Front entry opens up to a spacious living with vaulted ceiling and has an awesome wood paneling and updated fireplace. Living room connects a formal dining room and leads to kitchen with recently updated granite tops and tile backsplash and tons of cabinet space. A cute breakfast nook is in the kitchen. Granite counter tops in all bathrooms. New flooring, fresh paint inside and out. Large master suite has dual vanities and dual closets, bath tub. Master shower with luxury LED Rain Waterfall Shower Faucet and massager sprayers. Nice covered patio in the backyard. A Must See!

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
Wood Elementary School Primary Regular 725 42 5
Boles Junior High School Middle Regular 724 50 8
Martin High School High Regular 3,361 199 7

Wood Elementary School

  • Education Level: Primary
  • # of students: 725
  • # of teachers: 42
5
GreatSchools Rating

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
 

$238,500$291,500$265,000

PURCHASE PRICE

$1,611$1,969$1,790

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,790
EXPENSES Loan Payment -$978
Property Tax -$574
Property Insurance -$142
Property Management Fees -$99
CASH FLOW
-$2

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.

$265,000

PROJECTED PRICE

$1,790

PROJECTED RENT

0.68%

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

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$75,975

INVESTMENT

$75,975

Down Payment
$66,250
Rehab Estimate
$5,750
Closing Costs
$3,975

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$978

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $66,250
Loan Amount $198,750
See What Happens When You Reinvest Cash Flow

4.5

YEARS SAVED

$14,011

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,790

    LIST RENT
  • $0.9

    LIST RENT PER SQFT
  • $1,812

    COMP ESTIMATED VALUE
  • $0.91

    COMP AVG. RENT PER SQFT
Comps Range
$1,595
1$1,5952$1,6753$1,7004$1,7005$1,790
$1,790
RENT COMPS ANALYSIS
  • 3709 Pimlico Drive Arlington, TX 5
    • 3 beds 2 baths ∙ 1,986 Sqft ∙ Built 1980 3 beds 2 baths ∙ 1,986 Sqft ∙ Built 1980
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,790
    • $0.90
    •  
  • 4244 Rush Springs Drive Arlington, TX 1
    • 3 beds 2 baths ∙ 1,787 Sqft ∙ Built 1980 3 beds 2 baths ∙ 1,787 Sqft ∙ Built 1980
    property image
    LEASED 05/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.89
    •  
  • 4236 Glen Springs Drive Arlington, TX 2
    • 3 beds 2 baths ∙ 1,843 Sqft ∙ Built 1979 3 beds 2 baths ∙ 1,843 Sqft ∙ Built 1979
    property image
    LEASED 11/06/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,675
    • $0.91
    •  
  • 3608 Palomino Drive Arlington, TX 3
    • 4 beds 2 baths ∙ 1,844 Sqft ∙ Built 1980 4 beds 2 baths ∙ 1,844 Sqft ∙ Built 1980
    property image
    LEASED 11/19/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.92
    •  
  • 3511 Solano Drive Arlington, TX 4
    • 4 beds 2 baths ∙ 1,823 Sqft ∙ Built 1983 4 beds 2 baths ∙ 1,823 Sqft ∙ Built 1983
    property image
    LEASED 06/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.93
    •  
PROPERTY LISTING DETAILS
Yvonne Vo
Redestin Real Estate
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14466476
Last Updated: 11/05/2020
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