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966 Grasswood Court Arlington, TX 76017

3 Beds 2 Baths 1,636 sqft Built 1990

$245,000

List Price

$1,660

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 14, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1990
  • Price/Sqft : $149.76
  • 1 Days on Market
  • MLS # : 14532623
  • Updated Date : 03/13/2021 at 19:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,636 sqft
  • Baths : 2 full
Listing Agent

The Michael Group Real Estate

Listing Agent's Description

Showings start March 20. Gorgeous home with lots of upgrades and updates including granite countertops and glass tile backsplash in kitchen, appliances, brushed nickel fixtures, faux hardwoods, and light fixtures throughout. Oversized bar seating area island in kitchen also granite. Master bath has a garden tub, separate shower, dual sinks and granite counters. Oversized back and side yard.

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: Summerwood

NeighborhoodNIR Market*CityMarket2010Year20002019120k130k140k150k160k170k180k190k200k210k220k230k240kPrice in $117k243k

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

Neighborhood: Summerwood

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
 

$220,500$269,500$245,000

PURCHASE PRICE

$1,494$1,826$1,660

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,660
EXPENSES Loan Payment -$851
Property Tax -$530
Property Insurance -$122
Property Management Fees -$99
CASH FLOW
$58

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.

$245,000

PROJECTED PRICE

$1,660

PROJECTED RENT

0.68%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 9.9%
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-$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$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$70,675

INVESTMENT

$70,675

Down Payment
$61,250
Rehab Estimate
$5,750
Closing Costs
$3,675

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$851

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $61,250
Loan Amount $183,750
See What Happens When You Reinvest Cash Flow

5.58

YEARS SAVED

$15,022

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,660

    LIST RENT
  • $1.01

    LIST RENT PER SQFT
  • $1,693

    COMP ESTIMATED VALUE
  • $1.04

    COMP AVG. RENT PER SQFT
Comps Range
$1,595
1$1,5952$1,5993$1,6004$1,6505$1,660
$1,660
RENT COMPS ANALYSIS
  • 966 Grasswood Court Arlington, TX 5
    • 3 beds 2 baths ∙ 1,636 Sqft ∙ Built 1990 3 beds 2 baths ∙ 1,636 Sqft ∙ Built 1990
    • Rent
    • Rent Per SQFT
    •  
    • $1,660
    • $1.01
    •  
  • 911 Gwinnett Circle Arlington, TX 1
    • 3 beds 2 baths ∙ 1,673 Sqft ∙ Built 1986 3 beds 2 baths ∙ 1,673 Sqft ∙ Built 1986
    LEASED 04/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.95
    •  
  • 1126 Seneca Drive Arlington, TX 2
    • 3 beds 2 baths ∙ 1,507 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,507 Sqft ∙ Built 2003
    LEASED 10/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,599
    • $1.06
    •  
  • 964 Grasswood Court Arlington, TX 3
    • 3 beds 2 baths ∙ 1,472 Sqft ∙ Built 1990 3 beds 2 baths ∙ 1,472 Sqft ∙ Built 1990
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $1.09
    •  
  • 920 Tennis Villa Drive Arlington, TX 4
    • 3 beds 2 baths ∙ 1,586 Sqft ∙ Built 1991 3 beds 2 baths ∙ 1,586 Sqft ∙ Built 1991
    LEASED 04/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.04
    •  
PROPERTY LISTING DETAILS
Lisa Lambert
The Michael Group Real Estate
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14532623
Last Updated: 03/13/2021
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