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4702 Aramis Drive Arlington, TX 76016

4 Beds 3 Baths 2,569 sqft Built 1991

$319,900

List Price

$2,080

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 07, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1991
  • Price/Sqft : $124.52
  • 1 Days on Market
  • MLS # : 14528043
  • Updated Date : 03/06/2021 at 22:21
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,569 sqft
  • Baths : 2 full , 1 half
Listing Agent

Rendon Realty, Llc

Listing Agent's Description

****Pictures coming soon**** Bright and spacious home with a beautiful drive up curb appeal in the prestigious Westlake addition and sought after Martin High School (Arlington ISD). This 4 bedroom, 2.1 bath feels like home the minute you walk in. Warm and inviting open concept. A spacious breakfast area looks out to the backyard and flows into the kitchen, dinning room and second living area centered with gas fireplace. You’ll enjoy the back patio both morning and night, so bring your coffee, and make this house your home. Fresh paint through out home. Easy access to highways & shopping.

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: Westlake

NeighborhoodNIR Market*CityMarket2010Year20002019120k130k140k150k160k170k180k190k200k210k220k230k240k250kPrice in $117k259k

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

Neighborhood: Westlake

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800Rent in $10221855

* 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
Young Junior High School Middle Regular 792 53 7
Martin High School High Regular 3,361 199 7
Young Junior High School Middle Unknown NA

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

Young Junior High School

  • Education Level: Middle
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$287,910$351,890$319,900

PURCHASE PRICE

$1,872$2,288$2,080

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,080
EXPENSES Loan Payment -$1,111
Property Tax -$693
Property Insurance -$176
Property Management Fees -$99
CASH FLOW
$2

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.

$319,900

PROJECTED PRICE

$2,080

PROJECTED RENT

0.65%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 7.8%
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

PROJECTED ANNUAL CASH FLOW

11530-$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$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$90,524

INVESTMENT

$90,524

Down Payment
$79,975
Rehab Estimate
$5,750
Closing Costs
$4,799

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,111

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $79,975
Loan Amount $239,925
See What Happens When You Reinvest Cash Flow

4.33

YEARS SAVED

$13,652

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,080

    LIST RENT
  • $0.81

    LIST RENT PER SQFT
  • $2,152

    COMP ESTIMATED VALUE
  • $0.84

    COMP AVG. RENT PER SQFT
Comps Range
$2,000
1$2,0002$2,0803$2,1004$2,3455$2,400
$2,400
RENT COMPS ANALYSIS
  • 4702 Aramis Drive Arlington, TX 2
    • 4 beds 3 baths ∙ 2,569 Sqft ∙ Built 1991 4 beds 3 baths ∙ 2,569 Sqft ∙ Built 1991
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,080
    • $0.81
    •  
  • 6909 Shore Breeze Court Arlington, TX 1
    • 4 beds 3 baths ∙ 2,628 Sqft ∙ Built 2007 4 beds 3 baths ∙ 2,628 Sqft ∙ Built 2007
    property image
    LEASED 09/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.76
    •  
  • 4514 Lake Park Drive Arlington, TX 3
    • 4 beds 2 baths ∙ 2,449 Sqft ∙ Built 1983 4 beds 2 baths ∙ 2,449 Sqft ∙ Built 1983
    property image
    LEASED 08/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.86
    •  
  • 4402 Spinnaker Drive Arlington, TX 4
    • 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
    •  
  • 4621 Enchanted Isle Court Arlington, TX 5
    • 5 beds 3 baths ∙ 2,730 Sqft ∙ Built 2005 5 beds 3 baths ∙ 2,730 Sqft ∙ Built 2005
    property image
    LEASED 01/20/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $0.88
    •  
PROPERTY LISTING DETAILS
Sandra Ridge
Rendon Realty, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14528043
Last Updated: 03/06/2021
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