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5507 Gessner Court Arlington, TX 76018

3 Beds 2 Baths 1,582 sqft Built 2005

$240,000

List Price

$1,670

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

January 30, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2005
  • Price/Sqft : $151.71
  • 2 Days on Market
  • MLS # : 14504543
  • Updated Date : 01/30/2021 at 15:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,582 sqft
  • Baths : 2 full
Listing Agent

Re/max Pinnacle Group Realtors

Listing Agent's Description

Lovely 3 Bedroom home located on a cul-de-sac with a pond & a greenbelt behind home with open concept dining, living and kitchen, excellent for entertaining. Spacious kitchen features a breakfast bar for extra seating, a walk in pantry & a great amount of cabinet top space for cooking. Light & bright living room is great space for family & friends to enjoy time together. Split bedroom layout with roomy master bedroom. Ensuite bathroom in master bedroom features double sinks, separate shower & tub and a wonderful walk in closet. Backyard has space for play.

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: Creekside Village

NeighborhoodNIR Market*CityMarket2010Year20002019120k130k140k150k160k170k180k190k200k210k220k230k240kPrice in $117k243k

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

Neighborhood: Creekside Village

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21100120013001400150016001700Rent in $10221763

* 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
 

$216,000$264,000$240,000

PURCHASE PRICE

$1,503$1,837$1,670

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,670
EXPENSES Loan Payment -$834
Property Tax -$520
Property Insurance -$119
Property Management Fees -$99
CASH FLOW
$99

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.

$240,000

PROJECTED PRICE

$1,670

PROJECTED RENT

0.70%

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$1.0M

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$69,350

INVESTMENT

$69,350

Down Payment
$60,000
Rehab Estimate
$5,750
Closing Costs
$3,600

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$834

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $60,000
Loan Amount $180,000
See What Happens When You Reinvest Cash Flow

6.5

YEARS SAVED

$18,413

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,670

    LIST RENT
  • $1.06

    LIST RENT PER SQFT
  • $1,673

    COMP ESTIMATED VALUE
  • $1.06

    COMP AVG. RENT PER SQFT
Comps Range
$1,550
1$1,5502$1,6703$1,6854$1,6955$1,845
$1,845
RENT COMPS ANALYSIS
  • 5507 Gessner Court Arlington, TX 2
    • 3 beds 2 baths ∙ 1,582 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,582 Sqft ∙ Built 2005
    • Rent
    • Rent Per SQFT
    •  
    • $1,670
    • $1.06
    •  
  • 5201 Highbank Drive Arlington, TX 1
    • 3 beds 2 baths ∙ 1,429 Sqft ∙ Built 1993 3 beds 2 baths ∙ 1,429 Sqft ∙ Built 1993
    LEASED 09/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $1.08
    •  
  • 5324 Manhassett Drive Arlington, TX 3
    • 3 beds 3 baths ∙ 1,671 Sqft ∙ Built 1990 3 beds 3 baths ∙ 1,671 Sqft ∙ Built 1990
    LEASED 07/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,685
    • $1.01
    •  
  • 5305 Manhassett Drive Arlington, TX 4
    • 3 beds 2 baths ∙ 1,576 Sqft ∙ Built 1990 3 beds 2 baths ∙ 1,576 Sqft ∙ Built 1990
    LEASED 04/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $1.08
    •  
  • 2208 Dewey Drive Arlington, TX 5
    • 3 beds 3 baths ∙ 1,733 Sqft ∙ Built 1986 3 beds 3 baths ∙ 1,733 Sqft ∙ Built 1986
    LEASED 09/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,845
    • $1.06
    •  
PROPERTY LISTING DETAILS
John Pollock
Re/max Pinnacle Group Realtors
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14504543
Last Updated: 01/30/2021
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