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704 Underhill Drive Arlington, TX 76002

3 Beds 2 Baths 2,098 sqft Built 2014

$290,000

List Price

$2,070

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 11, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2014
  • Price/Sqft : $138.23
  • 4 Days on Market
  • MLS # : 14530047
  • Updated Date : 03/12/2021 at 17:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,098 sqft
  • Baths : 2 full
Listing Agent

Jp And Associates Fort Worth

Listing Agent's Description

Open concept, updated three-bedroom home in Southwind. This home includes a bonus room which could be used as a second living space or study. Large kitchen with island, granite, and stainless-steel appliances. Both bathrooms have double sinks. The master bath has a separate shower and relaxing garden tub. Other notable features include a fully fenced-in backyard. The Southwind community has a playground and pool. It is conveniently located next to plenty of shopping and restaurants. Make this home yours and enjoy the lifestyle this home has to offer.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

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
Rogene Worley Middle School Middle Regular 929 55 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

Rogene Worley Middle School

  • Education Level: Middle
  • # of students: 929
  • # of teachers: 55
7
GreatSchools Rating

Mansfield High School

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

$261,000$319,000$290,000

PURCHASE PRICE

$1,863$2,277$2,070

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,070
EXPENSES Loan Payment -$1,007
Property Tax -$628
Property Insurance -$148
HOA -$42
Property Management Fees -$99
CASH FLOW
$146

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.

$290,000

PROJECTED PRICE

$2,070

PROJECTED RENT

0.71%

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-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

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$82,600

INVESTMENT

$82,600

Down Payment
$72,500
Rehab Estimate
$5,750
Closing Costs
$4,350

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,007

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $72,500
Loan Amount $217,500
See What Happens When You Reinvest Cash Flow

6.67

YEARS SAVED

$23,901

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,070

    LIST RENT
  • $0.99

    LIST RENT PER SQFT
  • $2,077

    COMP ESTIMATED VALUE
  • $0.99

    COMP AVG. RENT PER SQFT
Comps Range
$1,895
1$1,8952$1,9003$1,9804$2,0705$2,200
$2,200
RENT COMPS ANALYSIS
  • 704 Underhill Drive Arlington, TX 4
    • 3 beds 2 baths ∙ 2,098 Sqft ∙ Built 2014 3 beds 2 baths ∙ 2,098 Sqft ∙ Built 2014
    • Rent
    • Rent Per SQFT
    •  
    • $2,070
    • $0.99
    •  
  • 618 Denali Drive Arlington, TX 1
    • 3 beds 2 baths ∙ 1,957 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,957 Sqft ∙ Built 2005
    LEASED 03/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.97
    •  
  • 829 Underhill Drive Arlington, TX 2
    • 3 beds 2 baths ∙ 1,987 Sqft ∙ Built 2013 3 beds 2 baths ∙ 1,987 Sqft ∙ Built 2013
    LEASED 07/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.96
    •  
  • 9004 Cloudveil Drive Arlington, TX 3
    • 3 beds 2 baths ∙ 1,987 Sqft ∙ Built 2013 3 beds 2 baths ∙ 1,987 Sqft ∙ Built 2013
    LEASED 10/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,980
    • $1.00
    •  
  • 801 Bastrop Drive Arlington, TX 5
    • 3 beds 2 baths ∙ 2,144 Sqft ∙ Built 2008 3 beds 2 baths ∙ 2,144 Sqft ∙ Built 2008
    LEASED 10/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $1.03
    •  
PROPERTY LISTING DETAILS
Stephanie Norman
Jp And Associates Fort Worth
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14530047
Last Updated: 03/12/2021
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