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4008 Falcon Lake Drive Arlington, TX 76016

4 Beds 3 Baths 2,706 sqft Built 1982

$360,000

List Price

$2,310

$2.1K - $2.5K

Rent Est.

PROPERTY INFO

January 09, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1982
  • Price/Sqft : $133.04
  • 2 Days on Market
  • MLS # : 14489526
  • Updated Date : 01/10/2021 at 00:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,706 sqft
  • Baths : 3 full
Listing Agent

Keller Williams Arlington

Listing Agent's Description

Immaculate, move-in ready single story home situated in the exclusive Enchanted Lake Estates community. Attention to detail flows throughout with tons of natural light offering living room open to dining area boasts brick fireplace, decorative molding, and gorgeous wood floors. Stunning office or library space provides vaulted ceiling and built ins. Gourmet kitchen offers granite countertops, exorbitant cabinet space, stainless steel appliances including double oven and tumbled tile backsplash. Expansive master retreat with sun room access is complimented by sliding barn door, updated ensuite featuring dual vanities, jetted tub, separate shower and massive walk in closet. Arlington ISD. Welcome HOME!

SEE MORE

MARKET HIGHLIGHTS

  • # 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)
  • . Dallas has 7th largest concentration of high-tech jobs in the U.S. (Dallas Chamber)

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
 

$324,000$396,000$360,000

PURCHASE PRICE

$2,079$2,541$2,310

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,310
EXPENSES Loan Payment -$1,250
Property Tax -$779
Property Insurance -$184
HOA -$38
Property Management Fees -$99
CASH FLOW
-$40

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.

$360,000

PROJECTED PRICE

$2,310

PROJECTED RENT

0.64%

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$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

11530-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

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$101,150

INVESTMENT

$101,150

Down Payment
$90,000
Rehab Estimate
$5,750
Closing Costs
$5,400

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,250

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $90,000
Loan Amount $270,000
See What Happens When You Reinvest Cash Flow

3.58

YEARS SAVED

$12,212

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,310

    LIST RENT
  • $0.85

    LIST RENT PER SQFT
  • $2,016

    COMP ESTIMATED VALUE
  • $0.74

    COMP AVG. RENT PER SQFT
Comps Range
$1,840
1$1,8402$1,8883$1,9954$2,3105$2,345
$2,345
RENT COMPS ANALYSIS
  • 4008 Falcon Lake Drive Arlington, TX 4
    • 4 beds 3 baths ∙ 2,706 Sqft ∙ Built 1982 4 beds 3 baths ∙ 2,706 Sqft ∙ Built 1982
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,310
    • $0.85
    •  
  • 7105 Royal Gate Drive Arlington, TX 1
    • 4 beds 3 baths ∙ 2,552 Sqft ∙ Built 1992 4 beds 3 baths ∙ 2,552 Sqft ∙ Built 1992
    property image
    LEASED 12/04/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,840
    • $0.72
    •  
  • 4617 Rockland Drive Arlington, TX 2
    • 3 beds 2 baths ∙ 2,623 Sqft ∙ Built 1979 3 beds 2 baths ∙ 2,623 Sqft ∙ Built 1979
    property image
    LEASED 12/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,888
    • $0.72
    •  
  • 3702 Falcon Lake Drive Arlington, TX 3
    • 3 beds 3 baths ∙ 2,896 Sqft ∙ Built 1982 3 beds 3 baths ∙ 2,896 Sqft ∙ Built 1982
    property image
    LEASED 07/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.69
    •  
  • 4402 Spinnaker Drive Arlington, TX 5
    • 4 beds 3 baths ∙ 2,744 Sqft ∙ Built 1991 4 beds 3 baths ∙ 2,744 Sqft ∙ Built 1991
    property image
    LEASED 12/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,345
    • $0.85
    •  
PROPERTY LISTING DETAILS
Jean Christenberry
Keller Williams Arlington
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14489526
Last Updated: 01/10/2021
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