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4417 Kelly Elliott Road Arlington, TX 76017

3 Beds 2 Baths 1,801 sqft Built 1992

$255,000

List Price

$1,730

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 10, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1992
  • Price/Sqft : $141.59
  • 5 Days on Market
  • MLS # : 14530640
  • Updated Date : 03/12/2021 at 13:30
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,801 sqft
  • Baths : 2 full
Listing Agent

Re/max Trinity

Listing Agent's Description

MULTIPLE OFFERS RECEIVED! OFFER DEADLINE: 3:00pm, Sunday, Mar 14, 2021. Incredible opportunity to own in Martin cluster! 3-2-2 Ranch Style Home with Boat-RV parking! Great open floor plan with split bedrooms & flex room. Roof and 1 Water Heater replaced approximately 2017. HVAC system and second water heater replaced in 2012. Gorgeous laminate flooring throughout the home. All wet areas have updated ceramic tile. Master shower has been updated with newer tile! HUGE backyard with gazebo and custom brick archway! Convenient to I-20 and all Arlington and Mansfield shopping and restaurants. Huge Island in breakfast nook can be removed. Flex room can easily be reconverted back to laundry room-plumbing still there

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: Southwest Arlington

NeighborhoodNIR Market*CityMarket2010Year20002019120k130k140k150k160k170k180k190k200k210k220k230k240k250kPrice in $117k250k

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

Neighborhood: Southwest Arlington

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21100120013001400150016001700Rent in $10221790

* 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
 

$229,500$280,500$255,000

PURCHASE PRICE

$1,557$1,903$1,730

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,730
EXPENSES Loan Payment -$886
Property Tax -$552
Property Insurance -$131
Property Management Fees -$99
CASH FLOW
$62

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.

$255,000

PROJECTED PRICE

$1,730

PROJECTED RENT

0.68%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 7.2%
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$100k$200k$300k$400k$500k$600k$700k$800k$900k

PROJECTED ANNUAL CASH FLOW

11530-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$73,325

INVESTMENT

$73,325

Down Payment
$63,750
Rehab Estimate
$5,750
Closing Costs
$3,825

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$886

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $63,750
Loan Amount $191,250
See What Happens When You Reinvest Cash Flow

5.58

YEARS SAVED

$15,718

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,730

    LIST RENT
  • $0.96

    LIST RENT PER SQFT
  • $1,742

    COMP ESTIMATED VALUE
  • $0.97

    COMP AVG. RENT PER SQFT
Comps Range
$1,550
1$1,5502$1,6953$1,7304$1,8155$1,825
$1,825
RENT COMPS ANALYSIS
  • 4417 Kelly Elliott Road Arlington, TX 3
    • 3 beds 2 baths ∙ 1,801 Sqft ∙ Built 1992 3 beds 2 baths ∙ 1,801 Sqft ∙ Built 1992
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,730
    • $0.96
    •  
  • 4207 Meadow Park Drive Arlington, TX 1
    • 3 beds 2 baths ∙ 1,706 Sqft ∙ Built 1986 3 beds 2 baths ∙ 1,706 Sqft ∙ Built 1986
    property image
    LEASED 03/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.91
    •  
  • 5207 Millsprings Drive Arlington, TX 2
    • 4 beds 2 baths ∙ 1,865 Sqft ∙ Built 1979 4 beds 2 baths ∙ 1,865 Sqft ∙ Built 1979
    property image
    LEASED 05/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.91
    •  
  • 4906 Spring Creek Road Arlington, TX 4
    • 3 beds 2 baths ∙ 1,777 Sqft ∙ Built 1979 3 beds 2 baths ∙ 1,777 Sqft ∙ Built 1979
    property image
    LEASED 08/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,815
    • $1.02
    •  
  • 5008 Millsprings Drive Arlington, TX 5
    • 3 beds 2 baths ∙ 1,772 Sqft ∙ Built 1979 3 beds 2 baths ∙ 1,772 Sqft ∙ Built 1979
    property image
    LEASED 09/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,825
    • $1.03
    •  
PROPERTY LISTING DETAILS
Kelly Christenson
Re/max Trinity
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14530640
Last Updated: 03/12/2021
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