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3906 Farmingdale Drive Arlington, TX 76001

4 Beds 3 Baths 2,934 sqft Built 1991

$399,000

List Price

$2,270

$2K - $2.5K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 04, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1991
  • Price/Sqft : $135.99
  • 4 Days on Market
  • MLS # : 14525582
  • Updated Date : 03/04/2021 at 17:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,934 sqft
  • Baths : 2 full , 1 half
Listing Agent

Ebby Halliday, Realtors

Listing Agent's Description

Spectacular updated home in Martin High School Dist. Located on a corner lot with established landscaping and beautiful big trees that provide lots of shade. This home has 3 Living Areas and 4 Bedrooms, it is ready for you or your family. Windows have been replaced, there are plantation shutters, crown molding, updated appliances and granite. The backyard living space is so peaceful and private. Lots of space for BBQ and gatherings.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Abbermare Estates

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $117k316k

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

Neighborhood: Abbermare Estates

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800190020002100220023002400Rent in $10222471

* 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
 

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

PURCHASE PRICE

$2,043$2,497$2,270

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,270
EXPENSES Loan Payment -$1,386
Property Tax -$864
Property Insurance -$197
Property Management Fees -$99
CASH FLOW
-$275

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

$2,270

PROJECTED RENT

0.57%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 8.0%
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

PROJECTED ANNUAL CASH FLOW

11530-$8.0k-$6.0k-$4.0k-$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$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 70% 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

1.33

YEARS SAVED

$2,633

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,270

    LIST RENT
  • $0.77

    LIST RENT PER SQFT
  • $2,487

    COMP ESTIMATED VALUE
  • $0.85

    COMP AVG. RENT PER SQFT
Comps Range
$2,270
1$2,2702$2,3003$2,5004$2,5005$2,900
$2,900
RENT COMPS ANALYSIS
  • 3906 Farmingdale Drive Arlington, TX 1
    • 4 beds 3 baths ∙ 2,934 Sqft ∙ Built 1991 4 beds 3 baths ∙ 2,934 Sqft ∙ Built 1991
    • Rent
    • Rent Per SQFT
    •  
    • $2,270
    • $0.77
    •  
  • 3015 Redstone Drive Arlington, TX 2
    • 4 beds 3 baths ∙ 2,892 Sqft ∙ Built 1992 4 beds 3 baths ∙ 2,892 Sqft ∙ Built 1992
    LEASED 10/07/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.80
    •  
  • 4320 Vine Ridge Court Arlington, TX 3
    • 5 beds 4 baths ∙ 3,221 Sqft ∙ Built 1992 5 beds 4 baths ∙ 3,221 Sqft ∙ Built 1992
    LEASED 03/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.78
    •  
  • 4319 Vine Ridge Court Arlington, TX 4
    • 4 beds 3 baths ∙ 2,873 Sqft ∙ Built 1993 4 beds 3 baths ∙ 2,873 Sqft ∙ Built 1993
    LEASED 10/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.87
    •  
  • 3801 Park Flower Court Arlington, TX 5
    • 4 beds 3 baths ∙ 3,084 Sqft ∙ Built 2005 4 beds 3 baths ∙ 3,084 Sqft ∙ Built 2005
    LEASED 09/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,900
    • $0.94
    •  
PROPERTY LISTING DETAILS
Cheryl Wilbur
Ebby Halliday, Realtors
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14525582
Last Updated: 03/04/2021
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