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700 Underhill Drive Arlington, TX 76002

4 Beds 3 Baths 2,824 sqft Built 2014

$315,000

List Price

$2,130

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

December 04, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2014
  • Price/Sqft : $111.54
  • 3 Days on Market
  • MLS # : 14480484
  • Updated Date : 12/05/2020 at 15:18
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,824 sqft
  • Baths : 2 full , 1 half
Listing Agent

Compass Re Texas, Llc

Listing Agent's Description

#HelloHome Stunning one owner, well maintained home in desirable Mansfield ISD. Situated perfectly on a large lot with an even larger backyard and covered patio. Hardwood floors & 9' tall ceilings greet you at the front door and extend into the large family room and kitchen. An open gourmet kitchen with stainless steel appliances, granite countertops, rich amazing 42' dark wood cabinets that opens to a huge family room with a beautiful fireplace that's perfect for entertaining. Spacious master retreat, nestled away for maximum privacy and amazing size walking-closet. Upstairs has a game room for family fun, 3 oversized bedrooms with walking closet. Large backyard makes this home a gem! Walking trail nearby.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • . 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)

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
 

$283,500$346,500$315,000

PURCHASE PRICE

$1,917$2,343$2,130

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,130
EXPENSES Loan Payment -$1,162
Property Tax -$682
Property Insurance -$190
HOA -$41
Property Management Fees -$99
CASH FLOW
-$44

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.

$315,000

PROJECTED PRICE

$2,130

PROJECTED RENT

0.68%

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$200k$400k$600k$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$900k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$89,225

INVESTMENT

$89,225

Down Payment
$78,750
Rehab Estimate
$5,750
Closing Costs
$4,725

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,162

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $78,750
Loan Amount $236,250
See What Happens When You Reinvest Cash Flow

3.58

YEARS SAVED

$12,695

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,130

    LIST RENT
  • $0.75

    LIST RENT PER SQFT
  • $2,104

    COMP ESTIMATED VALUE
  • $0.75

    COMP AVG. RENT PER SQFT
Comps Range
$1,895
1$1,8952$2,1253$2,1304$2,1905$2,195
$2,195
RENT COMPS ANALYSIS
  • 700 Underhill Drive Arlington, TX 3
    • 4 beds 3 baths ∙ 2,824 Sqft ∙ Built 2014 4 beds 3 baths ∙ 2,824 Sqft ∙ Built 2014
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,130
    • $0.75
    •  
  • 9114 Lockhart Drive Arlington, TX 1
    • 3 beds 3 baths ∙ 2,702 Sqft ∙ Built 2006 3 beds 3 baths ∙ 2,702 Sqft ∙ Built 2006
    property image
    LEASED 05/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.70
    •  
  • 9101 Rainland Drive Arlington, TX 2
    • 4 beds 3 baths ∙ 2,875 Sqft ∙ Built 2008 4 beds 3 baths ∙ 2,875 Sqft ∙ Built 2008
    property image
    LEASED 02/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,125
    • $0.74
    •  
  • 607 Cunningham Drive Arlington, TX 4
    • 4 beds 3 baths ∙ 2,828 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,828 Sqft ∙ Built 2006
    property image
    LEASED 05/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,190
    • $0.77
    •  
  • 9206 Water Oak Drive Arlington, TX 5
    • 4 beds 3 baths ∙ 2,837 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,837 Sqft ∙ Built 2006
    property image
    LEASED 11/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,195
    • $0.77
    •  
PROPERTY LISTING DETAILS
Sandra Rubio
Compass Re Texas, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14480484
Last Updated: 12/05/2020
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