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4507 Palomino Court Arlington, TX 76017

3 Beds 2 Baths 1,560 sqft Built 1983

$238,000

List Price

$1,610

$1.4K - $1.8K

Rent Est.

PROPERTY INFO

February 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1983
  • Price/Sqft : $152.56
  • 2 Days on Market
  • MLS # : 14518199
  • Updated Date : 02/13/2021 at 17:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,560 sqft
  • Baths : 2 full
Listing Agent

Insight Realty Network

Listing Agent's Description

Conveniently located to interstate 20 family home ready for you to snatch up! This home includes three bedrooms and two baths, with ample storage. Gorgeous master bath with double vanity and separate shower area. Open floor plan for the living area includes a wood burning fireplace. There’s abundant space in the backyard, with separate storage building from the main house. This is a must see today!

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: Willow Ridge

NeighborhoodNIR Market*CityMarket2010Year20002019120k130k140k150k160k170k180k190k200k210k220k230k240kPrice in $113k243k

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

Neighborhood: Willow Ridge

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210501100115012001250130013501400145015001550160016501700Rent in $10221734

* 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
 

$214,200$261,800$238,000

PURCHASE PRICE

$1,449$1,771$1,610

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,610
EXPENSES Loan Payment -$827
Property Tax -$515
Property Insurance -$117
Property Management Fees -$99
CASH FLOW
$52

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.

$238,000

PROJECTED PRICE

$1,610

PROJECTED RENT

0.68%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 8.4%
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

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$68,820

INVESTMENT

$68,820

Down Payment
$59,500
Rehab Estimate
$5,750
Closing Costs
$3,570

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$827

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $59,500
Loan Amount $178,500
See What Happens When You Reinvest Cash Flow

5.5

YEARS SAVED

$14,253

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,610

    LIST RENT
  • $1.03

    LIST RENT PER SQFT
  • $1,599

    COMP ESTIMATED VALUE
  • $1.03

    COMP AVG. RENT PER SQFT
Comps Range
$1,500
1$1,5002$1,5953$1,5954$1,6105$1,750
$1,750
RENT COMPS ANALYSIS
  • 4507 Palomino Court Arlington, TX 4
    • 3 beds 2 baths ∙ 1,560 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,560 Sqft ∙ Built 1983
    • Rent
    • Rent Per SQFT
    •  
    • $1,610
    • $1.03
    •  
  • 3609 Hialeah Drive Arlington, TX 1
    • 3 beds 2 baths ∙ 1,544 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,544 Sqft ∙ Built 1983
    LEASED 04/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.97
    •  
  • 4215 Glen Springs Drive Arlington, TX 2
    • 3 beds 2 baths ∙ 1,523 Sqft ∙ Built 1979 3 beds 2 baths ∙ 1,523 Sqft ∙ Built 1979
    LEASED 06/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $1.05
    •  
  • 4611 Oak Club Drive Arlington, TX 3
    • 3 beds 2 baths ∙ 1,653 Sqft ∙ Built 1987 3 beds 2 baths ∙ 1,653 Sqft ∙ Built 1987
    LEASED 02/04/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.96
    •  
  • 3517 Solano Drive Arlington, TX 5
    • 3 beds 2 baths ∙ 1,560 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,560 Sqft ∙ Built 1983
    LEASED 02/11/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $1.12
    •  
PROPERTY LISTING DETAILS
Guillermo De La Garza
Insight Realty Network
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14518199
Last Updated: 02/13/2021
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