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7105 Greenspring Drive Arlington, TX 76016

3 Beds 3 Baths 1,816 sqft Built 1983

$233,000

List Price

$1,720

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

December 28, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1983
  • Price/Sqft : $128.30
  • 7 Days on Market
  • MLS # : 14491421
  • Updated Date : 12/28/2020 at 22:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,816 sqft
  • Baths : 2 full , 1 half
Listing Agent

Opendoor Brokerage, Llc

Listing Agent's Description

This Arlington two-story home offers a patio, and a two-car garage. This home is vacant and cleaned regularly.

SEE MORE

MARKET HIGHLIGHTS

  • # 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)
  • . Dallas has 7th largest concentration of high-tech jobs in the U.S. (Dallas Chamber)

PRICE & RENT TRENDS

Neighborhood: Woodfield Arlington

NeighborhoodNIR Market*CityMarket2010Year20002019110k120k130k140k150k160k170k180k190k200k210k220k230k240kPrice in $104k243k

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

Neighborhood: Woodfield Arlington

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700Rent in $9981734

* 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
Miller Elementary School Primary Regular 769 47 3
Young Junior High School Middle Regular 792 53 7
Martin High School High Regular 3,361 199 7

Miller Elementary School

  • Education Level: Primary
  • # of students: 769
  • # of teachers: 47
3
GreatSchools Rating

Young Junior High School

  • Education Level: Middle
  • # of students: 792
  • # of teachers: 53
7
GreatSchools Rating

Martin High School

  • Education Level: High
  • # of students: 3,361
  • # of teachers: 199
7
GreatSchools Rating
 

$209,700$256,300$233,000

PURCHASE PRICE

$1,548$1,892$1,720

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,720
EXPENSES Loan Payment -$860
Property Tax -$498
Property Insurance -$132
Property Management Fees -$99
CASH FLOW
$131

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.

$233,000

PROJECTED PRICE

$1,720

PROJECTED RENT

0.74%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 12.9%
Maintenance Year (1-5) 8.00%
Vacancy 6.39%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$67,495

INVESTMENT

$67,495

Down Payment
$58,250
Rehab Estimate
$5,750
Closing Costs
$3,495

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$860

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $58,250
Loan Amount $174,750
See What Happens When You Reinvest Cash Flow

7.42

YEARS SAVED

$25,121

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,720

    LIST RENT
  • $0.95

    LIST RENT PER SQFT
  • $1,716

    COMP ESTIMATED VALUE
  • $0.95

    COMP AVG. RENT PER SQFT
Comps Range
$1,600
1$1,6002$1,6503$1,6754$1,6755$1,720
$1,720
RENT COMPS ANALYSIS
  • 7105 Greenspring Drive Arlington, TX 5
    • 3 beds 3 baths ∙ 1,816 Sqft ∙ Built 1983 3 beds 3 baths ∙ 1,816 Sqft ∙ Built 1983
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,720
    • $0.95
    •  
  • 6808 Blackberry Drive Arlington, TX 1
    • 3 beds 2 baths ∙ 1,756 Sqft ∙ Built 1980 3 beds 2 baths ∙ 1,756 Sqft ∙ Built 1980
    property image
    LEASED 09/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.91
    •  
  • 6609 Crestfield Drive Arlington, TX 2
    • 3 beds 2 baths ∙ 1,741 Sqft ∙ Built 1979 3 beds 2 baths ∙ 1,741 Sqft ∙ Built 1979
    property image
    LEASED 02/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.95
    •  
  • 6804 Blackberry Drive Arlington, TX 3
    • 3 beds 2 baths ∙ 1,748 Sqft ∙ Built 1980 3 beds 2 baths ∙ 1,748 Sqft ∙ Built 1980
    property image
    LEASED 03/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,675
    • $0.96
    •  
  • 6801 Blackberry Drive Arlington, TX 4
    • 3 beds 2 baths ∙ 1,748 Sqft ∙ Built 1980 3 beds 2 baths ∙ 1,748 Sqft ∙ Built 1980
    property image
    LEASED 07/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,675
    • $0.96
    •  
PROPERTY LISTING DETAILS
Feras Rachid
Opendoor Brokerage, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14491421
Last Updated: 12/28/2020
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