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7215 Royal Gate Drive Arlington, TX 76016

5 Beds 3 Baths 2,621 sqft Built 1991

$320,000

List Price

$2,110

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

February 06, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1991
  • Price/Sqft : $122.09
  • 2 Days on Market
  • MLS # : 14512491
  • Updated Date : 02/06/2021 at 17:01
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,621 sqft
  • Baths : 2 full , 1 half
Listing Agent

Keller Williams Realty Ftworth

Listing Agent's Description

COME SEE THIS BEAUTIFUL 5 BEDROOM, 2.1 BATH, WITH TONS OF NATURAL LIGHT THROUGHOUT THE HOUSE! RECENT UPGRADES ARE FLOORING AND FRESH PAINT! THIS GORGEOUS HOME IS PERFECT FOR A GROWING FAMILY. SPACIOUS KITCHEN HAS A BREAKFAST BAR, ISLAND, AND GRANITE COUNTERTOPS. TILE FLOORS ON THE FIRST LEVEL AND HARDWOOD FLOORS ON THE SECOND LEVEL. UPSTAIRS MASTER BEDROOM HAS A PRIVATE SITTING ROOM. LARGE BACKYARD GREAT FOR FAMILY GATHERINGS AND FUN. MUST SEE, IT WON'T LAST!! CLOSE TO LOTS OF RESTAURANTS, SHOPPING CENTERS, AND THE PARKS MALL. EASY ACCESS TO I-20

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • # 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)

PRICE & RENT TRENDS

Neighborhood: Royal Gate

NeighborhoodNIR Market*CityMarket2010Year20002019120k130k140k150k160k170k180k190k200k210k220k230k240k250kPrice in $117k259k

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

Neighborhood: Royal Gate

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800Rent in $10221868

* 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
 

$288,000$352,000$320,000

PURCHASE PRICE

$1,899$2,321$2,110

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,110
EXPENSES Loan Payment -$1,111
Property Tax -$693
Property Insurance -$179
Property Management Fees -$99
CASH FLOW
$28

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.

$320,000

PROJECTED PRICE

$2,110

PROJECTED RENT

0.66%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 8.1%
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-$4.0k-$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$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$90,550

INVESTMENT

$90,550

Down Payment
$80,000
Rehab Estimate
$5,750
Closing Costs
$4,800

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,111

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $80,000
Loan Amount $240,000
See What Happens When You Reinvest Cash Flow

4.58

YEARS SAVED

$15,532

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,110

    LIST RENT
  • $0.81

    LIST RENT PER SQFT
  • $2,280

    COMP ESTIMATED VALUE
  • $0.87

    COMP AVG. RENT PER SQFT
Comps Range
$2,100
1$2,1002$2,1103$2,2004$2,3455$2,400
$2,400
RENT COMPS ANALYSIS
  • 7215 Royal Gate Drive Arlington, TX 2
    • 5 beds 3 baths ∙ 2,621 Sqft ∙ Built 1991 5 beds 3 baths ∙ 2,621 Sqft ∙ Built 1991
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,110
    • $0.81
    •  
  • 4514 Lake Park Drive Arlington, TX 1
    • 4 beds 2 baths ∙ 2,449 Sqft ∙ Built 1983 4 beds 2 baths ∙ 2,449 Sqft ∙ Built 1983
    property image
    LEASED 08/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.86
    •  
  • 7801 Island View Drive Arlington, TX 3
    • 4 beds 3 baths ∙ 2,464 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,464 Sqft ∙ Built 2005
    property image
    LEASED 12/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.89
    •  
  • 4402 Spinnaker Drive Arlington, TX 4
    • 4 beds 3 baths ∙ 2,744 Sqft ∙ Built 1991 4 beds 3 baths ∙ 2,744 Sqft ∙ Built 1991
    property image
    LEASED 12/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,345
    • $0.85
    •  
  • 4621 Enchanted Isle Court Arlington, TX 5
    • 5 beds 3 baths ∙ 2,730 Sqft ∙ Built 2005 5 beds 3 baths ∙ 2,730 Sqft ∙ Built 2005
    property image
    LEASED 01/20/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $0.88
    •  
PROPERTY LISTING DETAILS
Flor Alvarado
Keller Williams Realty Ftworth
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14512491
Last Updated: 02/06/2021
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