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705 Greenridge Arlington, TX 76017

3 Beds 2 Baths 1,506 sqft Built 1987

INVESTimate

$227,900

List Price

$1,430

$1,287 - $1,573

Rent Est.

$247,089  ( +8.42%)   1 YR EST. FORECAST

PROPERTY INFO

FACTS
  • Built In 1987
  • Price/Sqft : $151.33
  • 11 Days on Market
  • MLS # : 14414435
  • Updated Date : 08/25/2020 at 22:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,506 sqft
  • Baths : 2 full
Listing Agent

Jp & Associates Uptown

Listing Agent's Description

Beautiful garden home on corner lot. Split bedroom layout with large master bedroom and patio. Living room has a great wood burning fireplace and vaulted ceilings. This home is in a great location near lots of food and shopping. Seller is offering a $5,000 flooring allowance at closing. This one will not 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: Green Oaks Garden Homes

NeighborhoodNIR Market*CityMarket2010Year20002019120k130k140k150k160k170k180k190k200k210k220k230k240kPrice in $110k243k

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

Neighborhood: Green Oaks Garden Homes

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700Rent in $9641734

* 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
Charlotte Anderson Elementary School Primary Regular 497 34 8
T.a. Howard Middle School Middle Regular 855 59 6
Mansfield Summit High School High Regular 2,020 114 4

Charlotte Anderson Elementary School

  • Education Level: Primary
  • # of students: 497
  • # of teachers: 34
8
GreatSchools Rating

T.a. Howard Middle School

  • Education Level: Middle
  • # of students: 855
  • # of teachers: 59
6
GreatSchools Rating

Mansfield Summit High School

  • Education Level: High
  • # of students: 2,020
  • # of teachers: 114
4
GreatSchools Rating
 

$205,110$250,690$227,900

PURCHASE PRICE

$1,287$1,573$1,430

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 $1,430
EXPENSES Loan Payment -$841
Property Tax -$493
Property Insurance -$114
Property Management Fees -$99
CASH FLOW
-$117

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.

$227,900

PROJECTED PRICE

$1,430

PROJECTED RENT

0.63%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 8.42%
Maintenance Year (1-5) 8.00%
Vacancy 6.39%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$66,144

INVESTMENT

$66,144

Down Payment
$56,975
Rehab Estimate
$5,750
Closing Costs
$3,419

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$841

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $56,975
Loan Amount $170,925
See What Happens When You Reinvest Cash Flow

2.25

YEARS SAVED

$4,376

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,430

    LIST RENT
  • $0.95

    LIST RENT PER SQFT
  • $1,442

    COMP ESTIMATED VALUE
  • $0.96

    COMP AVG. RENT PER SQFT
Comps Range
$1,400
1$1,4002$1,4303$1,4494$1,5155$1,550
$1,550
RENT COMPS ANALYSIS
  • 705 Greenridge Arlington, TX 2
    • 3 beds 2 baths ∙ 1,506 Sqft ∙ Built 1987 3 beds 2 baths ∙ 1,506 Sqft ∙ Built 1987
    • Rent
    • Rent Per SQFT
    •  
    • $1,430
    • $0.95
    •  
  • 5203 Livermore Drive Arlington, TX 1
    • 3 beds 2 baths ∙ 1,362 Sqft ∙ Built 1992 3 beds 2 baths ∙ 1,362 Sqft ∙ Built 1992
    LEASED 09/03/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $1.03
    •  
  • 719 Cornfield Drive Arlington, TX 3
    • 3 beds 2 baths ∙ 1,538 Sqft ∙ Built 1986 3 beds 2 baths ∙ 1,538 Sqft ∙ Built 1986
    LEASED 04/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,449
    • $0.94
    •  
  • 732 Greenridge Drive Arlington, TX 4
    • 4 beds 2 baths ∙ 1,649 Sqft ∙ Built 1988 4 beds 2 baths ∙ 1,649 Sqft ∙ Built 1988
    LEASED 10/25/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,515
    • $0.92
    •  
  • 201 Mahogany Drive Arlington, TX 5
    • 3 beds 2 baths ∙ 1,652 Sqft ∙ Built 1986 3 beds 2 baths ∙ 1,652 Sqft ∙ Built 1986
    LEASED 09/27/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.94
    •  
PROPERTY LISTING DETAILS
Kyle Patton
Jp & Associates Uptown
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14414435
Last Updated: 08/25/2020
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