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7116 Greenspring Drive Arlington, TX 76016

4 Beds 3 Baths 2,002 sqft Built 1983

$265,000

List Price

$1,790

$1.6K - $2K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 25, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1983
  • Price/Sqft : $132.37
  • 4 Days on Market
  • MLS # : 14522356
  • Updated Date : 02/27/2021 at 12:30
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,002 sqft
  • Baths : 2 full , 1 half
Listing Agent

Fathom Realty Llc

Listing Agent's Description

** multiple offers highest and best due by Saturday at 3** Welcome Home! Come take a look at this great home, in the heart of Arlington! With completely updated features including a BRAND NEW AC UNIT (interior and exterior) with the upgraded UV filters, brand new carpet, spray foam insulation in the attic for a cool upcoming summer, brand new stove and microwave, the I-Ring, Nest thermostat and MANY MORE! NO HOA! This home 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: 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
Young Junior High School Middle Regular 792 53 7
Martin High School High Regular 3,361 199 7
Young Junior High School Middle Unknown NA

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

Young Junior High School

  • Education Level: Middle
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$238,500$291,500$265,000

PURCHASE PRICE

$1,611$1,969$1,790

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,790
EXPENSES Loan Payment -$920
Property Tax -$574
Property Insurance -$143
Property Management Fees -$99
CASH FLOW
$54

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.

$265,000

PROJECTED PRICE

$1,790

PROJECTED RENT

0.68%

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$75,975

INVESTMENT

$75,975

Down Payment
$66,250
Rehab Estimate
$5,750
Closing Costs
$3,975

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$920

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $66,250
Loan Amount $198,750
See What Happens When You Reinvest Cash Flow

5.42

YEARS SAVED

$15,419

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,790

    LIST RENT
  • $0.89

    LIST RENT PER SQFT
  • $1,782

    COMP ESTIMATED VALUE
  • $0.89

    COMP AVG. RENT PER SQFT
Comps Range
$1,625
1$1,6252$1,6753$1,7904$1,7955$1,845
$1,845
RENT COMPS ANALYSIS
  • 7116 Greenspring Drive Arlington, TX 3
    • 4 beds 3 baths ∙ 2,002 Sqft ∙ Built 1983 4 beds 3 baths ∙ 2,002 Sqft ∙ Built 1983
    • Rent
    • Rent Per SQFT
    •  
    • $1,790
    • $0.89
    •  
  • 7010 Forestview Drive Arlington, TX 1
    • 4 beds 2 baths ∙ 1,806 Sqft ∙ Built 1980 4 beds 2 baths ∙ 1,806 Sqft ∙ Built 1980
    LEASED 05/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,625
    • $0.90
    •  
  • 6600 Forestview Drive Arlington, TX 2
    • 3 beds 2 baths ∙ 1,914 Sqft ∙ Built 1979 3 beds 2 baths ∙ 1,914 Sqft ∙ Built 1979
    LEASED 04/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,675
    • $0.88
    •  
  • 7012 Escondido Drive Arlington, TX 4
    • 4 beds 2 baths ∙ 2,029 Sqft ∙ Built 1987 4 beds 2 baths ∙ 2,029 Sqft ∙ Built 1987
    LEASED 09/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.88
    •  
  • 6607 Forestview Drive Arlington, TX 5
    • 4 beds 2 baths ∙ 2,059 Sqft ∙ Built 1979 4 beds 2 baths ∙ 2,059 Sqft ∙ Built 1979
    LEASED 06/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,845
    • $0.90
    •  
PROPERTY LISTING DETAILS
Chasatee Carbaugh
Fathom Realty Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14522356
Last Updated: 02/27/2021
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