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7305 Fossil Rim Trail Arlington, TX 76002

4 Beds 4 Baths 2,520 sqft Built 2000

$295,000

List Price

$1,940

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

February 05, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2000
  • Price/Sqft : $117.06
  • 3 Days on Market
  • MLS # : 14513768
  • Updated Date : 02/06/2021 at 19:51
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,520 sqft
  • Baths : 3 full , 1 half
Listing Agent

National Plaintiff Realty

Listing Agent's Description

Beautiful 2-story, 4 bed, 3.5 bath brick home with 3-car attached garage in coveted Fossil Rim subdivision. Updated kitchen with stainless appliances, new granite countertops, and new decorative tile backsplash. First floor Master Suite with garden tub and separate shower and walk-in closets. Nice new decorative ceramic tile in bathrooms, and new carpet in all 4 bedrooms and living areas. New Roof 2014. Large, fenced backyard with open patio for grilling out.

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: Fossil Lake

NeighborhoodNIR Market*CityMarket2010Year20002019120k130k140k150k160k170k180k190k200k210k220k230k240kPrice in $117k243k

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

Neighborhood: Fossil Lake

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210501100115012001250130013501400145015001550160016501700Rent in $10221744

* 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
 

$265,500$324,500$295,000

PURCHASE PRICE

$1,746$2,134$1,940

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,940
EXPENSES Loan Payment -$1,025
Property Tax -$639
Property Insurance -$173
Property Management Fees -$99
CASH FLOW
$5

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.

$295,000

PROJECTED PRICE

$1,940

PROJECTED RENT

0.66%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 9.3%
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

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$83,925

INVESTMENT

$83,925

Down Payment
$73,750
Rehab Estimate
$5,750
Closing Costs
$4,425

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,025

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $73,750
Loan Amount $221,250
See What Happens When You Reinvest Cash Flow

4.42

YEARS SAVED

$12,760

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,940

    LIST RENT
  • $0.77

    LIST RENT PER SQFT
  • $2,060

    COMP ESTIMATED VALUE
  • $0.82

    COMP AVG. RENT PER SQFT
Comps Range
$1,840
1$1,8402$1,8953$1,9404$1,9505$2,255
$2,255
RENT COMPS ANALYSIS
  • 7305 Fossil Rim Trail Arlington, TX 3
    • 4 beds 4 baths ∙ 2,520 Sqft ∙ Built 2000 4 beds 4 baths ∙ 2,520 Sqft ∙ Built 2000
    • Rent
    • Rent Per SQFT
    •  
    • $1,940
    • $0.77
    •  
  • 6700 Tabor Drive Arlington, TX 1
    • 4 beds 2 baths ∙ 2,322 Sqft ∙ Built 1997 4 beds 2 baths ∙ 2,322 Sqft ∙ Built 1997
    LEASED 12/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,840
    • $0.79
    •  
  • 8204 San Jose Street Arlington, TX 2
    • 4 beds 3 baths ∙ 2,369 Sqft ∙ Built 2007 4 beds 3 baths ∙ 2,369 Sqft ∙ Built 2007
    LEASED 11/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.80
    •  
  • 1005 Abigail Drive Arlington, TX 4
    • 4 beds 3 baths ∙ 2,340 Sqft ∙ Built 2007 4 beds 3 baths ∙ 2,340 Sqft ∙ Built 2007
    LEASED 02/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.83
    •  
  • 7417 Fossil Garden Drive Arlington, TX 5
    • 4 beds 3 baths ∙ 2,657 Sqft ∙ Built 2001 4 beds 3 baths ∙ 2,657 Sqft ∙ Built 2001
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,255
    • $0.85
    •  
PROPERTY LISTING DETAILS
Adam Gates
National Plaintiff Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14513768
Last Updated: 02/06/2021
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