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5623 Memorial Arlington, TX 76017

4 Beds 3 Baths 2,634 sqft Built 1993

$324,900

List Price

$2,090

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

October 30, 2020 RECENTLY ADDED
FACTS
  • Built In 1993
  • Price/Sqft : $123.35
  • 6 Days on Market
  • MLS # : 14460137
  • Updated Date : 10/30/2020 at 16:04
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,634 sqft
  • Baths : 2 full , 1 half
Listing Agent

Fathom Realty Llc

Listing Agent's Description

Wonderful Hunters Bend Addition home with ample space and lots of character! This home has spacious rooms, 2 living areas and a wonderful backyard with shed. Wonderful built in cabinets upstairs in the game room area make it an easy office space. The kitchen is open, eat in kitchen with granite counters and built in oven ready for those Christmas cookies! Each room has walk in closets and the walk in attic with shelving is an absolute blessing! This home has had a new roof put on in Aug. 2020 and the HVAC system was replaced in 2019. This home has been loved and maintained and is ready for it's new adventure with you! Come see all that this home and neighborhood has to offer as this won't last long.

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: Hunter Bend

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $117k307k

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

Neighborhood: Hunter Bend

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2110012001300140015001600170018001900200021002200Rent in $10222243

* 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
Wood Elementary School Primary Regular 725 42 5
Boles Junior High School Middle Regular 724 50 8
Martin High School High Regular 3,361 199 7

Wood Elementary School

  • Education Level: Primary
  • # of students: 725
  • # of teachers: 42
5
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
 

$292,410$357,390$324,900

PURCHASE PRICE

$1,881$2,299$2,090

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,090
EXPENSES Loan Payment -$1,199
Property Tax -$703
Property Insurance -$179
Property Management Fees -$99
CASH FLOW
-$90

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.

$324,900

PROJECTED PRICE

$2,090

PROJECTED RENT

0.64%

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$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

11530-$6.0k-$4.0k-$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$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$91,849

INVESTMENT

$91,849

Down Payment
$81,225
Rehab Estimate
$5,750
Closing Costs
$4,874

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,199

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $81,225
Loan Amount $243,675
See What Happens When You Reinvest Cash Flow

3.25

YEARS SAVED

$10,468

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,090

    LIST RENT
  • $0.79

    LIST RENT PER SQFT
  • $2,087

    COMP ESTIMATED VALUE
  • $0.79

    COMP AVG. RENT PER SQFT
Comps Range
$1,900
1$1,9002$1,9503$1,9754$2,0905$2,300
$2,300
RENT COMPS ANALYSIS
  • 5623 Memorial Arlington, TX 4
    • 4 beds 3 baths ∙ 2,634 Sqft ∙ Built 1993 4 beds 3 baths ∙ 2,634 Sqft ∙ Built 1993
    • Rent
    • Rent Per SQFT
    •  
    • $2,090
    • $0.79
    •  
  • 3403 Boyd Trail Arlington, TX 1
    • 3 beds 2 baths ∙ 2,291 Sqft ∙ Built 1984 3 beds 2 baths ∙ 2,291 Sqft ∙ Built 1984
    LEASED 05/24/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.83
    •  
  • 6416 Big Oak Court Arlington, TX 2
    • 4 beds 3 baths ∙ 2,489 Sqft ∙ Built 1997 4 beds 3 baths ∙ 2,489 Sqft ∙ Built 1997
    LEASED 05/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.78
    •  
  • 5724 Polo Club Drive Arlington, TX 3
    • 5 beds 4 baths ∙ 2,583 Sqft ∙ Built 1986 5 beds 4 baths ∙ 2,583 Sqft ∙ Built 1986
    LEASED 11/30/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,975
    • $0.76
    •  
  • 3015 Redstone Drive Arlington, TX 5
    • 4 beds 3 baths ∙ 2,892 Sqft ∙ Built 1992 4 beds 3 baths ∙ 2,892 Sqft ∙ Built 1992
    LEASED 10/07/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.80
    •  
PROPERTY LISTING DETAILS
Katie Mayeux
Fathom Realty Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14460137
Last Updated: 10/30/2020
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