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7606 Longbow Lane Arlington, TX 76002

5 Beds 3 Baths 3,560 sqft Built 2006

INVESTimate

$308,900

List Price

$2,120

$1,908 - $2,332

Rent Est.

$332,222  ( +7.55%)   1 YR EST. FORECAST

PROPERTY INFO

FACTS
  • Built In 2006
  • Price/Sqft : $86.77
  • 10 Days on Market
  • MLS # : 14414345
  • Updated Date : 08/24/2020 at 11:42
CONSTRUCTION
  • Beds : 5
  • Floor Size : 3,560 sqft
  • Baths : 2 full , 1 half
Listing Agent

Keller Williams Realty

Listing Agent's Description

This lovely home's kitchen just received a fabulous update, with beautiful new cabinets and countertops. If you need space, you've found it! There are 5 bedrooms to choose from, with the master suite located downstairs, plus two living areas, a breakfast room, and a separate dining room. Wood floors and tall ceilings instantly make this home feel spacious and inviting. A large, grassy backyard is a blank canvas for your imagination to run free. Two separate HVAC units will keep both upstairs and downstairs cool, and the roof features solar panels for big savings on electricity. Located just minutes from shops and restaurants, this home is close to Joe Pool Lake and highly rated schools.

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: Deer Creek

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260kPrice in $117k267k

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

Neighborhood: Deer Creek

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2110012001300140015001600170018001900Rent in $10221962

* 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
Thelma Jones Elementary School Primary Regular 551 36 8
James Coble Middle School Middle Regular 884 55 7
Mansfield Timberview High School High Regular 1,657 94 5

Thelma Jones Elementary School

  • Education Level: Primary
  • # of students: 551
  • # of teachers: 36
8
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
 

$278,010$339,790$308,900

PURCHASE PRICE

$1,908$2,332$2,120

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,120
EXPENSES Loan Payment -$1,140
Property Tax -$757
Property Insurance -$233
HOA -$31
Property Management Fees -$99
CASH FLOW
-$140

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.

$308,900

PROJECTED PRICE

$2,120

PROJECTED RENT

0.69%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 7.55%
Maintenance Year (1-5) 8.00%
Vacancy 6.39%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$87,609

INVESTMENT

$87,609

Down Payment
$77,225
Rehab Estimate
$5,750
Closing Costs
$4,634

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$1,140

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $77,225
Loan Amount $231,675
See What Happens When You Reinvest Cash Flow

2.08

YEARS SAVED

$5,362

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,120

    LIST RENT
  • $0.6

    LIST RENT PER SQFT
  • $2,314

    COMP ESTIMATED VALUE
  • $0.65

    COMP AVG. RENT PER SQFT
Comps Range
$2,120
1$2,1202$2,1753$2,1954$2,3455$2,500
$2,500
RENT COMPS ANALYSIS
  • 7606 Longbow Lane Arlington, TX 1
    • 5 beds 3 baths ∙ 3,560 Sqft ∙ Built 2006 5 beds 3 baths ∙ 3,560 Sqft ∙ Built 2006
    • Rent
    • Rent Per SQFT
    •  
    • $2,120
    • $0.60
    •  
  • 8186 La Frontera Trail Arlington, TX 2
    • 4 beds 3 baths ∙ 3,472 Sqft ∙ Built 2007 4 beds 3 baths ∙ 3,472 Sqft ∙ Built 2007
    LEASED 11/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,175
    • $0.63
    •  
  • 806 Windy Gap Drive Arlington, TX 3
    • 5 beds 3 baths ∙ 3,500 Sqft ∙ Built 2005 5 beds 3 baths ∙ 3,500 Sqft ∙ Built 2005
    LEASED 07/02/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,195
    • $0.63
    •  
  • 8407 River Bluffs Drive Arlington, TX 4
    • 5 beds 4 baths ∙ 3,750 Sqft ∙ Built 2006 5 beds 4 baths ∙ 3,750 Sqft ∙ Built 2006
    LEASED 10/18/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,345
    • $0.63
    •  
  • 8109 York Beach Place Arlington, TX 5
    • 5 beds 3 baths ∙ 3,523 Sqft ∙ Built 2007 5 beds 3 baths ∙ 3,523 Sqft ∙ Built 2007
    LEASED 07/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.71
    •  
PROPERTY LISTING DETAILS
Irfan Malik
Keller Williams Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14414345
Last Updated: 08/24/2020
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