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7324 Roaring Springs Arlington, TX 76002

3 Beds 2 Baths 2,383 sqft Built 2021

$374,993

List Price

$1,910

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

Built 2021 NEW CONSTRUCTION
January 15, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2021
  • Price/Sqft : $157.36
  • 3 Days on Market
  • MLS # : 14500686
  • Updated Date : 01/15/2021 at 18:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,383 sqft
  • Baths : 2 full
Listing Agent

Homesusa.com

Listing Agent's Description

MLS# 14500686 - Built by History Maker Homes - April completion! ~ Stretch out in the ranch style home with a purely open design! Serve guests from your gas powered kitchen equipped with a chefs island oasis. Bright cabinets to uplift the view and dark floors for contrast. Before the evening fades, relax under your extended front porch while watching the Northern skies! Then steal away to your enormous Primary Retreat. Call now to make it yours!

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: Southeast Arlington

NeighborhoodNIR Market*CityMarket2010Year20002019120k130k140k150k160k170k180k190k200k210k220k230k240kPrice in $117k243k

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

Neighborhood: Southeast Arlington

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210501100115012001250130013501400145015001550160016501700Rent in $10221734

* 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
Della Icenhower Intermediate School Primary Regular 862 50 6
James Coble Middle School Middle Regular 884 55 7
Mansfield Timberview High School High Regular 1,657 94 5

Della Icenhower Intermediate School

  • Education Level: Primary
  • # of students: 862
  • # of teachers: 50
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
 

$337,494$412,492$374,993

PURCHASE PRICE

$1,719$2,101$1,910

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,910
EXPENSES Loan Payment -$1,302
Property Tax -$865
Property Insurance -$165
HOA -$56
Property Management Fees -$99
CASH FLOW
-$578

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 9% of earned rent to cover both maintenance and periods of vacancy.

$374,993

PROJECTED PRICE

$1,910

PROJECTED RENT

0.51%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 8.9%
Maintenance Year (1-5) 3.00%
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$1.2M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$101,373

INVESTMENT

$101,373

Down Payment
$93,748
Rehab Estimate
$2,000
Closing Costs
$5,625

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 80% down payment or higher enables the proceeds from the asset to cover all costs.

$1,302

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $93,748
Loan Amount $281,245
See What Happens When You Reinvest Cash Flow

-0.08

YEARS SAVED

-$3

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,910

    LIST RENT
  • $0.8

    LIST RENT PER SQFT
  • $1,942

    COMP ESTIMATED VALUE
  • $0.82

    COMP AVG. RENT PER SQFT
Comps Range
$1,745
1$1,7452$1,8253$1,8954$1,8995$1,910
$1,910
RENT COMPS ANALYSIS
  • 7324 Roaring Springs Arlington, TX 5
    • 3 beds 2 baths ∙ 2,383 Sqft ∙ Built 2021 3 beds 2 baths ∙ 2,383 Sqft ∙ Built 2021
    • Rent
    • Rent Per SQFT
    •  
    • $1,910
    • $0.80
    •  
  • 8115 Wesson Road Arlington, TX 1
    • 3 beds 3 baths ∙ 2,252 Sqft ∙ Built 2005 3 beds 3 baths ∙ 2,252 Sqft ∙ Built 2005
    LEASED 02/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,745
    • $0.77
    •  
  • 807 Blue Sky Drive Arlington, TX 2
    • 3 beds 3 baths ∙ 2,259 Sqft ∙ Built 2005 3 beds 3 baths ∙ 2,259 Sqft ∙ Built 2005
    LEASED 03/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,825
    • $0.81
    •  
  • 7824 Corona Court Arlington, TX 3
    • 4 beds 2 baths ∙ 2,224 Sqft ∙ Built 2006 4 beds 2 baths ∙ 2,224 Sqft ∙ Built 2006
    LEASED 12/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.85
    •  
  • 8214 Leaning Oak Court Arlington, TX 4
    • 4 beds 3 baths ∙ 2,284 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,284 Sqft ∙ Built 2004
    LEASED 03/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,899
    • $0.83
    •  
PROPERTY LISTING DETAILS
Ben Caballero
Homesusa.com
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14500686
Last Updated: 01/15/2021
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