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4503 Long Island Lane Arlington, TX 76017

5 Beds 3 Baths 3,102 sqft Built 1989

$329,900

List Price

$2,370

$2.1K - $2.6K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 25, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1989
  • Price/Sqft : $106.35
  • 4 Days on Market
  • MLS # : 14521805
  • Updated Date : 02/25/2021 at 12:00
CONSTRUCTION
  • Beds : 5
  • Floor Size : 3,102 sqft
  • Baths : 2 full , 1 half
Listing Agent

Century 21 Judge Fite Company

Listing Agent's Description

Top south Arlington location! 4 beds with a closed in office or 5 bedrooms. Lots of living space with two downstairs living rooms and a landing upstairs. There is even a sauna in the master bath!

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: Shane Meadow

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $117k336k

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

Neighborhood: Shane Meadow

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800190020002100Rent in $10222181

* 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
 

$296,910$362,890$329,900

PURCHASE PRICE

$2,133$2,607$2,370

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,370
EXPENSES Loan Payment -$1,146
Property Tax -$714
Property Insurance -$206
Property Management Fees -$99
CASH FLOW
$205

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.

$329,900

PROJECTED PRICE

$2,370

PROJECTED RENT

0.72%

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$1.0M$1.2M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$93,174

INVESTMENT

$93,174

Down Payment
$82,475
Rehab Estimate
$5,750
Closing Costs
$4,949

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,146

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $82,475
Loan Amount $247,425
See What Happens When You Reinvest Cash Flow

7.42

YEARS SAVED

$30,852

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,370

    LIST RENT
  • $0.76

    LIST RENT PER SQFT
  • $2,358

    COMP ESTIMATED VALUE
  • $0.76

    COMP AVG. RENT PER SQFT
Comps Range
$2,100
1$2,1002$2,3703$2,5004$2,5005$2,500
$2,500
RENT COMPS ANALYSIS
  • 4503 Long Island Lane Arlington, TX 2
    • 5 beds 3 baths ∙ 3,102 Sqft ∙ Built 1989 5 beds 3 baths ∙ 3,102 Sqft ∙ Built 1989
    • Rent
    • Rent Per SQFT
    •  
    • $2,370
    • $0.76
    •  
  • 2612 Foxpoint Trail Arlington, TX 1
    • 4 beds 4 baths ∙ 3,018 Sqft ∙ Built 2006 4 beds 4 baths ∙ 3,018 Sqft ∙ Built 2006
    LEASED 02/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.70
    •  
  • 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
    •  
  • 3005 Clear Lake Court Arlington, TX 4
    • 5 beds 4 baths ∙ 3,076 Sqft ∙ Built 1984 5 beds 4 baths ∙ 3,076 Sqft ∙ Built 1984
    LEASED 02/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.81
    •  
  • 4504 Foxpoint Court Arlington, TX 5
    • 4 beds 3 baths ∙ 3,323 Sqft ∙ Built 2006 4 beds 3 baths ∙ 3,323 Sqft ∙ Built 2006
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.75
    •  
PROPERTY LISTING DETAILS
Natalie Halkyard
Century 21 Judge Fite Company
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14521805
Last Updated: 02/25/2021
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