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5311 Sherburne Drive Arlington, TX 76018

3 Beds 2 Baths 1,576 sqft Built 1990

$210,000

List Price

$1,650

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

February 03, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1990
  • Price/Sqft : $133.25
  • 5 Days on Market
  • MLS # : 14511660
  • Updated Date : 02/02/2021 at 23:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,576 sqft
  • Baths : 2 full
Listing Agent

Exp Realty Llc

Listing Agent's Description

South Arlington location off 360 and Green Oaks near shopping, schools, entertainment, and more. Convenient floor plan with master suite separate from the two other bedrooms. Large master bathroom with soaking tub, separate stand up shower, and double vanity. Two car attached garage and separate laundry room. Convenient breakfast nook in kitchen. High ceilings and welcoming floor plan. Cozy brick fireplace in spacious living room. Formal dining area with french doors to outside covered patio surrounded by mature fruit trees.

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: Manhassett Community

NeighborhoodNIR Market*CityMarket2010Year20002019110k120k130k140k150k160k170k180k190k200k210k220k230k240kPrice in $104k243k

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

Neighborhood: Manhassett Community

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700Rent in $9721734

* 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
Barnett Junior High School Middle Regular 893 69 6
Bowie High School High Regular 3,053 194 5
Barnett Junior High School Middle Unknown NA

Barnett Junior High School

  • Education Level: Middle
  • # of students: 893
  • # of teachers: 69
6
GreatSchools Rating

Bowie High School

  • Education Level: High
  • # of students: 3,053
  • # of teachers: 194
5
GreatSchools Rating

Barnett Junior High School

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

$189,000$231,000$210,000

PURCHASE PRICE

$1,485$1,815$1,650

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,650
EXPENSES Loan Payment -$729
Property Tax -$455
Property Insurance -$118
Property Management Fees -$99
CASH FLOW
$249

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.

$210,000

PROJECTED PRICE

$1,650

PROJECTED RENT

0.79%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 10.4%
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$200k$400k$600k$800k

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$61,400

INVESTMENT

$61,400

Down Payment
$52,500
Rehab Estimate
$5,750
Closing Costs
$3,150

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$729

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $52,500
Loan Amount $157,500
See What Happens When You Reinvest Cash Flow

10.33

YEARS SAVED

$31,143

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,650

    LIST RENT
  • $1.05

    LIST RENT PER SQFT
  • $1,651

    COMP ESTIMATED VALUE
  • $1.05

    COMP AVG. RENT PER SQFT
Comps Range
$1,650
1$1,6502$1,6853$1,6954$1,7505$1,845
$1,845
RENT COMPS ANALYSIS
  • 5311 Sherburne Drive Arlington, TX 1
    • 3 beds 2 baths ∙ 1,576 Sqft ∙ Built 1990 3 beds 2 baths ∙ 1,576 Sqft ∙ Built 1990
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.05
    •  
  • 5324 Manhassett Drive Arlington, TX 2
    • 3 beds 3 baths ∙ 1,671 Sqft ∙ Built 1990 3 beds 3 baths ∙ 1,671 Sqft ∙ Built 1990
    property image
    LEASED 07/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,685
    • $1.01
    •  
  • 5305 Manhassett Drive Arlington, TX 3
    • 3 beds 2 baths ∙ 1,576 Sqft ∙ Built 1990 3 beds 2 baths ∙ 1,576 Sqft ∙ Built 1990
    property image
    LEASED 04/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $1.08
    •  
  • 2406 Creek Crossing Court Arlington, TX 4
    • 3 beds 2 baths ∙ 1,682 Sqft ∙ Built 1996 3 beds 2 baths ∙ 1,682 Sqft ∙ Built 1996
    property image
    LEASED 04/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $1.04
    •  
  • 2208 Dewey Drive Arlington, TX 5
    • 3 beds 3 baths ∙ 1,733 Sqft ∙ Built 1986 3 beds 3 baths ∙ 1,733 Sqft ∙ Built 1986
    property image
    LEASED 09/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,845
    • $1.06
    •  
PROPERTY LISTING DETAILS
Rebecca Castro
Exp Realty Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14511660
Last Updated: 02/02/2021
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