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622 Crowley Road Arlington, TX 76012

3 Beds 2 Baths 2,028 sqft Built 1984

INVESTimate

$219,990

List Price

$1,580

$1,422 - $1,738

Rent Est.

$235,895  ( +7.23%)   1 YR EST. FORECAST

PROPERTY INFO

August 24, 2020 RECENTLY ADDED
FACTS
  • Built In 1984
  • Price/Sqft : $108.48
  • 3 Days on Market
  • MLS # : 14419024
  • Updated Date : 08/25/2020 at 18:35
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,028 sqft
  • Baths : 2 full
Listing Agent

Fadal Buchanan & Associatesllc

Listing Agent's Description

**MULTIPLE OFFERS** Stunning Traditional townhouse in Arlington's most Coveted Neighborhood. As you enter you are greeted by your Massive Living room finished with Hardwoods, Grand Fireplace, Recessed lighting & In-Ceiling Speakers. Open to your Kitchen with Extensive prep space, Granite, SS Appliances, Built-in Wine cooler & Dining area complete with a killer view of Downtown through the trees! Upstairs also has your Secondary Bedrooms, Full bath and Utility room. Lower Level Expansive Master suite boasting a Fireplace, Flex area with a Wall of windows & french doors overlooking your turf Backyard & porch! Spa like Ensuite With Jetted tub, Marble, Vessel sinks and Dual closets! Upstairs HVAC replaced in 2019!

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: Sunset Hills Arlington

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450kPrice in $117k499k

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

Neighborhood: Sunset Hills Arlington

NeighborhoodNIR Market*CityMarket2010Year20002019 Q212001400160018002000220024002600Rent in $10222723

* 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
Pope Elementary School Primary Regular 634 37 5
Pope Elementary School Middle Regular 634 37 5
Lamar High School High Regular 2,918 185 3

Pope Elementary School

  • Education Level: Primary
  • # of students: 634
  • # of teachers: 37
5
GreatSchools Rating

Pope Elementary School

  • Education Level: Middle
  • # of students: 634
  • # of teachers: 37
5
GreatSchools Rating

Lamar High School

  • Education Level: High
  • # of students: 2,918
  • # of teachers: 185
3
GreatSchools Rating
 

$197,991$241,989$219,990

PURCHASE PRICE

$1,422$1,738$1,580

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k$700k

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,580
EXPENSES Loan Payment -$812
Property Tax -$476
Property Insurance -$144
HOA -$125
Property Management Fees -$99
CASH FLOW
-$76

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.

$219,990

PROJECTED PRICE

$1,580

PROJECTED RENT

0.72%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 7.23%
Maintenance Year (1-5) 8.00%
Vacancy 6.39%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$64,047

INVESTMENT

$64,047

Down Payment
$54,998
Rehab Estimate
$5,750
Closing Costs
$3,300

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$812

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $54,998
Loan Amount $164,993
See What Happens When You Reinvest Cash Flow

2.5

YEARS SAVED

$5,108

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,580

    LIST RENT
  • $0.78

    LIST RENT PER SQFT
  • $1,906

    COMP ESTIMATED VALUE
  • $0.94

    COMP AVG. RENT PER SQFT
Comps Range
$1,580
1$1,5802$1,6503$1,6954$1,9005$2,150
$2,150
RENT COMPS ANALYSIS
  • 622 Crowley Road Arlington, TX 1
    • 3 beds 2 baths ∙ 2,028 Sqft ∙ Built 1984 3 beds 2 baths ∙ 2,028 Sqft ∙ Built 1984
    • Rent
    • Rent Per SQFT
    •  
    • $1,580
    • $0.78
    •  
  • 2209 Oakwood Lane Arlington, TX 2
    • 3 beds 2 baths ∙ 1,757 Sqft ∙ Built 1977 3 beds 2 baths ∙ 1,757 Sqft ∙ Built 1977
    LEASED 12/03/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.94
    •  
  • 705 White Oak Lane Arlington, TX 3
    • 3 beds 2 baths ∙ 1,821 Sqft ∙ Built 1964 3 beds 2 baths ∙ 1,821 Sqft ∙ Built 1964
    LEASED 06/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.93
    •  
  • 811 Red Oak Lane Arlington, TX 4
    • 3 beds 2 baths ∙ 1,985 Sqft ∙ Built 1964 3 beds 2 baths ∙ 1,985 Sqft ∙ Built 1964
    LEASED 07/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.96
    •  
  • 817 N Bowen Road Arlington, TX 5
    • 4 beds 3 baths ∙ 2,300 Sqft ∙ Built 1964 4 beds 3 baths ∙ 2,300 Sqft ∙ Built 1964
    LEASED 06/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $0.93
    •  
PROPERTY LISTING DETAILS
Brayden Pond
Fadal Buchanan & Associatesllc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14419024
Last Updated: 08/25/2020
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