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617 Cunningham Drive Arlington, TX 76002

4 Beds 3 Baths 2,546 sqft Built 2005

$280,000

List Price

$1,970

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

November 07, 2020 RECENTLY ADDED
FACTS
  • Built In 2005
  • Price/Sqft : $109.98
  • 2 Days on Market
  • MLS # : 14467452
  • Updated Date : 11/06/2020 at 23:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,546 sqft
  • Baths : 2 full , 1 half
Listing Agent

Indwell

Listing Agent's Description

Located in the highly acclaimed Southwind subdivision which offers plenty of amenities for the entire family, in Mansfield ISD. This corner lot home features the master bedroom downstairs, 2 living and 2 dining areas, easy access to Hwy 360 and only minutes from the Arlington entertainment district. In need of some TLC, bring your paint and HGTV ideas to make this beauty shine.

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: Southwind

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $117k336k

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

Neighborhood: Southwind

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800190020002100Rent in $10222171

* 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
Willie Brown Elementary School Primary Regular 602 39 9
Mary Orr Intermediate School Middle Regular 845 53 7
Mansfield High School High Regular 2,333 123 8

Willie Brown Elementary School

  • Education Level: Primary
  • # of students: 602
  • # of teachers: 39
9
GreatSchools Rating

Mary Orr Intermediate School

  • Education Level: Middle
  • # of students: 845
  • # of teachers: 53
7
GreatSchools Rating

Mansfield High School

  • Education Level: High
  • # of students: 2,333
  • # of teachers: 123
8
GreatSchools Rating
 

$252,000$308,000$280,000

PURCHASE PRICE

$1,773$2,167$1,970

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,970
EXPENSES Loan Payment -$1,033
Property Tax -$606
Property Insurance -$174
HOA -$35
Property Management Fees -$99
CASH FLOW
$22

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 15% of earned rent to cover both maintenance and periods of vacancy.

$280,000

PROJECTED PRICE

$1,970

PROJECTED RENT

0.70%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 5.0%
Maintenance Year (1-5) 8.00%
Vacancy 6.93%
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

PROJECTED ANNUAL CASH FLOW

11530-$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$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$79,950

INVESTMENT

$79,950

Down Payment
$70,000
Rehab Estimate
$5,750
Closing Costs
$4,200

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,033

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $70,000
Loan Amount $210,000
See What Happens When You Reinvest Cash Flow

4.67

YEARS SAVED

$16,139

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,970

    LIST RENT
  • $0.77

    LIST RENT PER SQFT
  • $2,062

    COMP ESTIMATED VALUE
  • $0.81

    COMP AVG. RENT PER SQFT
Comps Range
$1,950
1$1,9502$1,9503$1,9704$1,9955$2,000
$2,000
RENT COMPS ANALYSIS
  • 617 Cunningham Drive Arlington, TX 3
    • 4 beds 3 baths ∙ 2,546 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,546 Sqft ∙ Built 2005
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,970
    • $0.77
    •  
  • 515 Zachum Drive Arlington, TX 1
    • 4 beds 2 baths ∙ 2,428 Sqft ∙ Built 2004 4 beds 2 baths ∙ 2,428 Sqft ∙ Built 2004
    property image
    LEASED 02/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.80
    •  
  • 2518 Edgefield Trail Mansfield, TX 2
    • 4 beds 2 baths ∙ 2,356 Sqft ∙ Built 2001 4 beds 2 baths ∙ 2,356 Sqft ∙ Built 2001
    property image
    LEASED 03/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.83
    •  
  • 710 Millpond Drive Arlington, TX 4
    • 4 beds 2 baths ∙ 2,438 Sqft ∙ Built 2006 4 beds 2 baths ∙ 2,438 Sqft ∙ Built 2006
    property image
    LEASED 11/25/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.82
    •  
  • 802 Moss Glen Trail Arlington, TX 5
    • 4 beds 3 baths ∙ 2,545 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,545 Sqft ∙ Built 2006
    property image
    LEASED 12/31/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.79
    •  
PROPERTY LISTING DETAILS
Vianey Suarez
Indwell
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14467452
Last Updated: 11/06/2020
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