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5109 Red River Drive Arlington, TX 76017

3 Beds 2 Baths 1,826 sqft Built 1983

$249,900

List Price

$1,790

$1.6K - $2K

Rent Est.

PROPERTY INFO

November 05, 2020 RECENTLY ADDED
FACTS
  • Built In 1983
  • Price/Sqft : $136.86
  • 4 Days on Market
  • MLS # : 14465574
  • Updated Date : 11/06/2020 at 16:24
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,826 sqft
  • Baths : 2 full
Listing Agent

Shives & Co Realtors

Listing Agent's Description

OFFER DEADLINE - 5:00pm, 11-7-20. Move-in ready 3-2-2. Existing home furnishings and appliances to remain with acceptable offer...a tremendous head start for a new family! Meticulously maintained and nicely updated throughout by the current owners. Nicely landscaped and manicured lawn - front and back. Additional sq ft in attached sunroom - not reflected on tax roll - that has HVAC common with the residence. Workshop and storage for those weekend projects and those extra things we just can't part with. Roof replaced approximately 7 years back and recent HVAC check and tuneup. All listing information deemed reliable, but should be indepently verified by the prospective buyer. Buyer will need new survey.

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: 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
Corey Elementary School Primary Regular 619 38 7
Boles Junior High School Middle Regular 724 50 8
Martin High School High Regular 3,361 199 7

Corey Elementary School

  • Education Level: Primary
  • # of students: 619
  • # of teachers: 38
7
GreatSchools Rating

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
 

$224,910$274,890$249,900

PURCHASE PRICE

$1,611$1,969$1,790

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,790
EXPENSES Loan Payment -$922
Property Tax -$541
Property Insurance -$133
Property Management Fees -$99
CASH FLOW
$95

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.

$249,900

PROJECTED PRICE

$1,790

PROJECTED RENT

0.72%

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$12k

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$71,974

INVESTMENT

$71,974

Down Payment
$62,475
Rehab Estimate
$5,750
Closing Costs
$3,749

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$922

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $62,475
Loan Amount $187,425
See What Happens When You Reinvest Cash Flow

6.5

YEARS SAVED

$22,296

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,790

    LIST RENT
  • $0.98

    LIST RENT PER SQFT
  • $1,780

    COMP ESTIMATED VALUE
  • $0.98

    COMP AVG. RENT PER SQFT
Comps Range
$1,650
1$1,6502$1,6753$1,7254$1,7805$1,790
$1,790
RENT COMPS ANALYSIS
  • 5109 Red River Drive Arlington, TX 5
    • 3 beds 2 baths ∙ 1,826 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,826 Sqft ∙ Built 1983
    • Rent
    • Rent Per SQFT
    •  
    • $1,790
    • $0.98
    •  
  • 4918 Ridgeline Drive Arlington, TX 1
    • 3 beds 2 baths ∙ 1,753 Sqft ∙ Built 1978 3 beds 2 baths ∙ 1,753 Sqft ∙ Built 1978
    LEASED 11/25/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.94
    •  
  • 5615 Trail Crest Drive Arlington, TX 2
    • 3 beds 2 baths ∙ 1,814 Sqft ∙ Built 1978 3 beds 2 baths ∙ 1,814 Sqft ∙ Built 1978
    LEASED 03/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,675
    • $0.92
    •  
  • 5203 El Rancho Drive Arlington, TX 3
    • 3 beds 2 baths ∙ 1,722 Sqft ∙ Built 1985 3 beds 2 baths ∙ 1,722 Sqft ∙ Built 1985
    LEASED 08/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,725
    • $1.00
    •  
  • 5718 Sagebrush Trail Arlington, TX 4
    • 3 beds 2 baths ∙ 1,712 Sqft ∙ Built 1978 3 beds 2 baths ∙ 1,712 Sqft ∙ Built 1978
    LEASED 07/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,780
    • $1.04
    •  
PROPERTY LISTING DETAILS
Jim Shives
Shives & Co Realtors
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14465574
Last Updated: 11/06/2020
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