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904 Rio Vista Lane Arlington, TX 76017

3 Beds 2 Baths 1,739 sqft Built 1989

$225,000

List Price

$1,580

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

November 13, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1989
  • Price/Sqft : $129.38
  • 3 Days on Market
  • MLS # : 14471283
  • Updated Date : 11/13/2020 at 22:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,739 sqft
  • Baths : 2 full
Listing Agent

Bob Culbertson Realty

Listing Agent's Description

Beautiful 3 bedroom, 2 bath home in Mansfield schools. Large living area with nice laminate flooring. Spacious kitchen, large dining room, and split master bedroom. Master bath has two sinks, separate shower and tub and large walk in closet. Enclosed patio with hot tub, and great fenced backyard. Outside compressor and water heater replaced in 2018. Roof is 4-5 yrs old. Floored attic with pull down stairs.

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: Palos Verdes

NeighborhoodNIR Market*CityMarket2010Year20002019120k130k140k150k160k170k180k190k200k210k220k230k240kPrice in $117k243k

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

Neighborhood: Palos Verdes

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
Charlotte Anderson Elementary School Primary Regular 497 34 8
T.a. Howard Middle School Middle Regular 855 59 6
Mansfield Summit High School High Regular 2,020 114 4

Charlotte Anderson Elementary School

  • Education Level: Primary
  • # of students: 497
  • # of teachers: 34
8
GreatSchools Rating

T.a. Howard Middle School

  • Education Level: Middle
  • # of students: 855
  • # of teachers: 59
6
GreatSchools Rating

Mansfield Summit High School

  • Education Level: High
  • # of students: 2,020
  • # of teachers: 114
4
GreatSchools Rating
 

$202,500$247,500$225,000

PURCHASE PRICE

$1,422$1,738$1,580

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,580
EXPENSES Loan Payment -$830
Property Tax -$487
Property Insurance -$128
Property Management Fees -$99
CASH FLOW
$36

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.

$225,000

PROJECTED PRICE

$1,580

PROJECTED RENT

0.70%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 8.4%
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$100k$200k$300k$400k$500k$600k$700k$800k

PROJECTED ANNUAL CASH FLOW

11530-$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$100k$200k$300k$400k$500k$600k$700k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$65,375

INVESTMENT

$65,375

Down Payment
$56,250
Rehab Estimate
$5,750
Closing Costs
$3,375

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$830

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $56,250
Loan Amount $168,750
See What Happens When You Reinvest Cash Flow

5.42

YEARS SAVED

$15,162

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,580

    LIST RENT
  • $0.91

    LIST RENT PER SQFT
  • $1,613

    COMP ESTIMATED VALUE
  • $0.93

    COMP AVG. RENT PER SQFT
Comps Range
$1,500
1$1,5002$1,5803$1,6504$1,7005$1,745
$1,745
RENT COMPS ANALYSIS
  • 904 Rio Vista Lane Arlington, TX 2
    • 3 beds 2 baths ∙ 1,739 Sqft ∙ Built 1989 3 beds 2 baths ∙ 1,739 Sqft ∙ Built 1989
    • Rent
    • Rent Per SQFT
    •  
    • $1,580
    • $0.91
    •  
  • 938 Freshwood Court Arlington, TX 1
    • 3 beds 2 baths ∙ 1,664 Sqft ∙ Built 1989 3 beds 2 baths ∙ 1,664 Sqft ∙ Built 1989
    LEASED 03/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.90
    •  
  • 929 Rio Vista Lane Arlington, TX 3
    • 3 beds 2 baths ∙ 1,716 Sqft ∙ Built 1991 3 beds 2 baths ∙ 1,716 Sqft ∙ Built 1991
    LEASED 07/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.96
    •  
  • 5315 Alta Vista Lane Arlington, TX 4
    • 3 beds 2 baths ∙ 1,850 Sqft ∙ Built 1991 3 beds 2 baths ∙ 1,850 Sqft ∙ Built 1991
    LEASED 08/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.92
    •  
  • 1004 Carthage Way Arlington, TX 5
    • 3 beds 2 baths ∙ 1,868 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,868 Sqft ∙ Built 2002
    LEASED 09/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,745
    • $0.93
    •  
PROPERTY LISTING DETAILS
Jennifer Anderson
Bob Culbertson Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14471283
Last Updated: 11/13/2020
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