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7108 Port Phillip Drive Arlington, TX 76002

4 Beds 3 Baths 3,512 sqft Built 1998

$250,000

List Price

$2,160

$1.9K - $2.4K

Rent Est.

PROPERTY INFO

January 08, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1998
  • Price/Sqft : $71.18
  • 3 Days on Market
  • MLS # : 14494398
  • Updated Date : 01/09/2021 at 09:04
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,512 sqft
  • Baths : 2 full , 1 half
Listing Agent

Keller Williams Urban Dallas

Listing Agent's Description

Beautiful home in wonderfully established neighborhood. Amazing floorplan perfect for entertaining. Spacious rooms with no wasted space and lots of windows. An architectural gem. Floor plan modified by original owner when built. Practical elements, large kitchen which is the heart of the home and a large utility room. Well laid out home with living areas downstairs and nice-sized bedrooms upstairs. Master bedroom is large enough to accommodate separate seating or office area. Master bathroom has separate vanities, large garden tub, large closet and separate shower. Open kitchen has separate island and stainless steel appliances. Large back yard adjoined by covered patio.

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: Lake Port Village

NeighborhoodNIR Market*CityMarket2010Year20002019120k130k140k150k160k170k180k190k200k210k220k230k240kPrice in $117k247k

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

Neighborhood: Lake Port Village

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800Rent in $10221876

* 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
Thelma Jones Elementary School Primary Regular 551 36 8
James Coble Middle School Middle Regular 884 55 7
Mansfield Timberview High School High Regular 1,657 94 5

Thelma Jones Elementary School

  • Education Level: Primary
  • # of students: 551
  • # of teachers: 36
8
GreatSchools Rating

James Coble Middle School

  • Education Level: Middle
  • # of students: 884
  • # of teachers: 55
7
GreatSchools Rating

Mansfield Timberview High School

  • Education Level: High
  • # of students: 1,657
  • # of teachers: 94
5
GreatSchools Rating
 

$225,000$275,000$250,000

PURCHASE PRICE

$1,944$2,376$2,160

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,160
EXPENSES Loan Payment -$868
Property Tax -$601
Property Insurance -$230
Property Management Fees -$99
CASH FLOW
$362

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.

$250,000

PROJECTED PRICE

$2,160

PROJECTED RENT

0.86%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 6.0%
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

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$72,000

INVESTMENT

$72,000

Down Payment
$62,500
Rehab Estimate
$5,750
Closing Costs
$3,750

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% down payment or higher enables the proceeds from the asset to cover all costs.

$868

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $62,500
Loan Amount $187,500
See What Happens When You Reinvest Cash Flow

11.25

YEARS SAVED

$41,524

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,160

    LIST RENT
  • $0.62

    LIST RENT PER SQFT
  • $2,169

    COMP ESTIMATED VALUE
  • $0.62

    COMP AVG. RENT PER SQFT
Comps Range
$1,899
1$1,8992$2,0403$2,1604$2,2005$2,300
$2,300
RENT COMPS ANALYSIS
  • 7108 Port Phillip Drive Arlington, TX 3
    • 4 beds 3 baths ∙ 3,512 Sqft ∙ Built 1998 4 beds 3 baths ∙ 3,512 Sqft ∙ Built 1998
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,160
    • $0.62
    •  
  • 7009 Oconnor Street Arlington, TX 1
    • 4 beds 3 baths ∙ 3,292 Sqft ∙ Built 2000 4 beds 3 baths ∙ 3,292 Sqft ∙ Built 2000
    property image
    LEASED 10/04/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,899
    • $0.58
    •  
  • 3128 Teodoro Drive Grand Prairie, TX 2
    • 4 beds 3 baths ∙ 3,183 Sqft ∙ Built 2001 4 beds 3 baths ∙ 3,183 Sqft ∙ Built 2001
    property image
    LEASED 07/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,040
    • $0.64
    •  
  • 5815 Windy Meadow Lane Grand Prairie, TX 4
    • 4 beds 3 baths ∙ 3,587 Sqft ∙ Built 2004 4 beds 3 baths ∙ 3,587 Sqft ∙ Built 2004
    property image
    LEASED 06/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.61
    •  
  • 3104 Pompi Drive Grand Prairie, TX 5
    • 5 beds 3 baths ∙ 3,575 Sqft ∙ Built 2001 5 beds 3 baths ∙ 3,575 Sqft ∙ Built 2001
    property image
    LEASED 09/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.64
    •  
PROPERTY LISTING DETAILS
Tamera Nalls
Keller Williams Urban Dallas
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14494398
Last Updated: 01/09/2021
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