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2006 Stone Canyon Court Arlington, TX 76012

5 Beds 4 Baths 3,778 sqft Built 2003

$550,000

List Price

$3,140

$2.9K - $3.4K

Rent Est.

PROPERTY INFO

February 05, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2003
  • Price/Sqft : $145.58
  • 3 Days on Market
  • MLS # : 14507011
  • Updated Date : 02/05/2021 at 11:00
CONSTRUCTION
  • Beds : 5
  • Floor Size : 3,778 sqft
  • Baths : 4 full
Listing Agent

Re/max Trinity

Listing Agent's Description

Get ready to be wowed! This North Arlington home offers a flexible floor plan with flowing living spaces, abundant storage, large bedrooms, and beautiful architectural design throughout. All of this tucked away in a quiet gated community with easy access to DFW Airport, premier professional sports venues and within minutes of anywhere in the Metro-plex. Enjoy your own private oasis with this beautiful pool and its relaxing water features over looking this .5 acre lot. With the over-sized 3 car garage, beautiful master suite and exceptional entertaining areas this home has it all! Call today to schedule your private showing.

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: Highland Ridge

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450kPrice in $117k468k

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

Neighborhood: Highland Ridge

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2120014001600180020002200240026002800Rent in $10222994

* 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
Shackelford Junior High School Middle Regular 722 49 5
Lamar High School High Regular 2,918 185 3
Shackelford Junior High School Middle Unknown NA

Shackelford Junior High School

  • Education Level: Middle
  • # of students: 722
  • # of teachers: 49
5
GreatSchools Rating

Lamar High School

  • Education Level: High
  • # of students: 2,918
  • # of teachers: 185
3
GreatSchools Rating

Shackelford Junior High School

  • Education Level: Middle
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$495,000$605,000$550,000

PURCHASE PRICE

$2,826$3,454$3,140

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,140
EXPENSES Loan Payment -$1,910
Property Tax -$1,191
Property Insurance -$246
HOA -$50
Property Management Fees -$99
CASH FLOW
-$356

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 15% of earned rent to cover both maintenance and periods of vacancy.

$550,000

PROJECTED PRICE

$3,140

PROJECTED RENT

0.57%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 7.2%
Maintenance Year (1-5) 8.00%
Vacancy 6.93%
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$1.4M$1.6M

PROJECTED ANNUAL CASH FLOW

11530-$10k-$5.0k$0.0$5.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$151,500

INVESTMENT

$151,500

Down Payment
$137,500
Rehab Estimate
$5,750
Closing Costs
$8,250

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,910

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $137,500
Loan Amount $412,500
See What Happens When You Reinvest Cash Flow

1.33

YEARS SAVED

$3,978

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,140

    LIST RENT
  • $0.83

    LIST RENT PER SQFT
  • $2,871

    COMP ESTIMATED VALUE
  • $0.76

    COMP AVG. RENT PER SQFT
Comps Range
$3,000
1$3,0002$3,140
$3,140
RENT COMPS ANALYSIS
  • 2006 Stone Canyon Court Arlington, TX 2
    • 5 beds 4 baths ∙ 3,778 Sqft ∙ Built 2003 5 beds 4 baths ∙ 3,778 Sqft ∙ Built 2003
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $3,140
    • $0.83
    •  
  • 1809 Park Highland Way Arlington, TX 1
    • 4 beds 5 baths ∙ 3,936 Sqft ∙ Built 2016 4 beds 5 baths ∙ 3,936 Sqft ∙ Built 2016
    property image
    LEASED 02/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $0.76
    •  
PROPERTY LISTING DETAILS
Tracey Amaya
Re/max Trinity
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14507011
Last Updated: 02/05/2021
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