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901 Wild Prairie Drive Arlington, TX 76002

3 Beds 3 Baths 2,202 sqft Built 2006

$299,900

List Price

$1,770

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

February 12, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2006
  • Price/Sqft : $136.19
  • 3 Days on Market
  • MLS # : 14517927
  • Updated Date : 02/13/2021 at 16:32
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,202 sqft
  • Baths : 2 full , 1 half
Listing Agent

Keller Williams Realty-fm

Listing Agent's Description

Beautifully remodeled home in highly desireable area that is Move in ready! You will love this gem with stunning new floors, decorative light fixtures, fresh paint, and tons of room! This 3 bedroom with 2,202 sq ft has 3 separate living areas so there is space for everyone to spread out. Your kitchen has new granite, new SS appliances, tons of cabinet space and an awesome pantry! Updated baths have granite and new fixtures. The back yard is huge and waiting for you to host your move in party. You'll have peace of mind with new HVAC and new Roof! Come check this one out before it is gone!

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: Harris Crossing

NeighborhoodNIR Market*CityMarket2010Year20002019120k130k140k150k160k170k180k190k200k210k220k230k240kPrice in $117k243k

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

Neighborhood: Harris Crossing

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800Rent in $10221846

* 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
 

$269,910$329,890$299,900

PURCHASE PRICE

$1,593$1,947$1,770

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,770
EXPENSES Loan Payment -$1,042
Property Tax -$649
Property Insurance -$154
HOA -$25
Property Management Fees -$99
CASH FLOW
-$199

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.

$299,900

PROJECTED PRICE

$1,770

PROJECTED RENT

0.59%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 7.3%
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

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$85,224

INVESTMENT

$85,224

Down Payment
$74,975
Rehab Estimate
$5,750
Closing Costs
$4,499

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$1,042

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $74,975
Loan Amount $224,925
See What Happens When You Reinvest Cash Flow

1.42

YEARS SAVED

$2,201

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,770

    LIST RENT
  • $0.8

    LIST RENT PER SQFT
  • $1,971

    COMP ESTIMATED VALUE
  • $0.9

    COMP AVG. RENT PER SQFT
Comps Range
$1,770
1$1,7702$1,8253$1,8754$1,9505$1,980
$1,980
RENT COMPS ANALYSIS
  • 901 Wild Prairie Drive Arlington, TX 1
    • 3 beds 3 baths ∙ 2,202 Sqft ∙ Built 2006 3 beds 3 baths ∙ 2,202 Sqft ∙ Built 2006
    • Rent
    • Rent Per SQFT
    •  
    • $1,770
    • $0.80
    •  
  • 8111 Lost Canyon Trail Arlington, TX 2
    • 4 beds 2 baths ∙ 2,086 Sqft ∙ Built 2007 4 beds 2 baths ∙ 2,086 Sqft ∙ Built 2007
    LEASED 09/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,825
    • $0.87
    •  
  • 939 Mazatlan Drive Arlington, TX 3
    • 3 beds 2 baths ∙ 2,221 Sqft ∙ Built 2010 3 beds 2 baths ∙ 2,221 Sqft ∙ Built 2010
    LEASED 02/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,875
    • $0.84
    •  
  • 8116 Eagle Point Trail Arlington, TX 4
    • 4 beds 2 baths ∙ 2,093 Sqft ∙ Built 2007 4 beds 2 baths ∙ 2,093 Sqft ∙ Built 2007
    LEASED 11/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.93
    •  
  • 8007 Stowe Springs Lane Arlington, TX 5
    • 4 beds 2 baths ∙ 2,105 Sqft ∙ Built 2006 4 beds 2 baths ∙ 2,105 Sqft ∙ Built 2006
    LEASED 07/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,980
    • $0.94
    •  
PROPERTY LISTING DETAILS
Veronica Fleury
Keller Williams Realty-fm
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14517927
Last Updated: 02/13/2021
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