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7204 George Finger Road Arlington, TX 76002

3 Beds 2 Baths 1,459 sqft Built 2001

$209,900

List Price

$1,510

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

February 11, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2001
  • Price/Sqft : $143.87
  • 4 Days on Market
  • MLS # : 14514871
  • Updated Date : 02/11/2021 at 19:49
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,459 sqft
  • Baths : 2 full
Listing Agent

Re/max Preferred Associates

Listing Agent's Description

MULTIPLE OFFERS RECEIVED, HIGHEST AND BEST DUE BY 3PM ON SUNDAY 2-14-2021. Great home for first time home buyer. Single story home located in the Quail Creek subdivision. 3 bedrooms, 2 bath home with 2 dining areas. Family room with corner fireplace. Separate utility room. Large wood fenced backyard provides plenty of space for those summertime cookouts ahead. Mansfield ISD. Easy access to dining and shopping areas in Arlington or Mansfield.

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: Quail Creek Arlington

NeighborhoodNIR Market*CityMarket2010Year20002019120k130k140k150k160k170k180k190k200k210k220k230k240kPrice in $117k243k

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

Neighborhood: Quail Creek Arlington

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
Imogene Gideon Elementary School Primary Regular 520 36 6
James Coble Middle School Middle Regular 884 55 7
Mansfield Timberview High School High Regular 1,657 94 5

Imogene Gideon Elementary School

  • Education Level: Primary
  • # of students: 520
  • # of teachers: 36
6
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
 

$188,910$230,890$209,900

PURCHASE PRICE

$1,359$1,661$1,510

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,510
EXPENSES Loan Payment -$729
Property Tax -$454
Property Insurance -$112
Property Management Fees -$99
CASH FLOW
$116

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.

$209,900

PROJECTED PRICE

$1,510

PROJECTED RENT

0.72%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 9.9%
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$100k$200k$300k$400k$500k$600k$700k$800k

PROJECTED ANNUAL CASH FLOW

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

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$61,374

INVESTMENT

$61,374

Down Payment
$52,475
Rehab Estimate
$5,750
Closing Costs
$3,149

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$729

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $52,475
Loan Amount $157,425
See What Happens When You Reinvest Cash Flow

7.25

YEARS SAVED

$18,631

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,510

    LIST RENT
  • $1.03

    LIST RENT PER SQFT
  • $1,514

    COMP ESTIMATED VALUE
  • $1.04

    COMP AVG. RENT PER SQFT
Comps Range
$1,475
1$1,4752$1,5103$1,6504$1,6505$1,695
$1,695
RENT COMPS ANALYSIS
  • 7204 George Finger Road Arlington, TX 2
    • 3 beds 2 baths ∙ 1,459 Sqft ∙ Built 2001 3 beds 2 baths ∙ 1,459 Sqft ∙ Built 2001
    • Rent
    • Rent Per SQFT
    •  
    • $1,510
    • $1.03
    •  
  • 7201 Harris Meadows Drive Arlington, TX 1
    • 3 beds 2 baths ∙ 1,422 Sqft ∙ Built 2001 3 beds 2 baths ∙ 1,422 Sqft ∙ Built 2001
    LEASED 04/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,475
    • $1.04
    •  
  • 7302 Fossil Creek Drive Arlington, TX 3
    • 3 beds 2 baths ∙ 1,592 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,592 Sqft ∙ Built 2005
    LEASED 06/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.04
    •  
  • 723 W Milton Drive Arlington, TX 4
    • 3 beds 2 baths ∙ 1,589 Sqft ∙ Built 2000 3 beds 2 baths ∙ 1,589 Sqft ∙ Built 2000
    LEASED 09/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.04
    •  
  • 306 Katydid Court Arlington, TX 5
    • 3 beds 2 baths ∙ 1,650 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,650 Sqft ∙ Built 2002
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $1.03
    •  
PROPERTY LISTING DETAILS
Robby Setser
Re/max Preferred Associates
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14514871
Last Updated: 02/11/2021
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