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2638 Hidden Ridge Drive Arlington, TX 76006

4 Beds 2 Baths 1,921 sqft Built 1992

$282,500

List Price

$1,910

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

October 29, 2020 RECENTLY ADDED
FACTS
  • Built In 1992
  • Price/Sqft : $147.06
  • 6 Days on Market
  • MLS # : 14449134
  • Updated Date : 10/30/2020 at 09:43
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,921 sqft
  • Baths : 2 full
Listing Agent

Ebby Halliday, Realtors

Listing Agent's Description

Move-In ready single-story home just under 2,000 square feet in the Oak Canyon neighborhood of North Arlington. Quiet location tucked into park-like setting, minutes from Arlington’s entertainment center: AT&T Stadium, Globe Life Field, Texas Live! and the heart of the restaurant, shopping district. Flexible 4-bedroom layout with plenty of space for a home office. Secluded backyard accessible from family room and master bedroom. Ample space on backyard deck for enjoying a glass of wine in the afternoon sun. Wood and tile throughout the home – no carpet in any area. Lots of updates: Updated bathrooms – jetted tub in Master bath, new 2” blinds, Simply Safe security system. Close to I-30 for access to all DFW.

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: Oak Canyon

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $117k302k

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

Neighborhood: Oak Canyon

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2110012001300140015001600170018001900200021002200Rent in $10222284

* 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
Sherrod Elementary School Primary Regular 731 47 3
Nichols Junior High School Middle Regular 760 70 4
Lamar High School High Regular 2,918 185 3

Sherrod Elementary School

  • Education Level: Primary
  • # of students: 731
  • # of teachers: 47
3
GreatSchools Rating

Nichols Junior High School

  • Education Level: Middle
  • # of students: 760
  • # of teachers: 70
4
GreatSchools Rating

Lamar High School

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

$254,250$310,750$282,500

PURCHASE PRICE

$1,719$2,101$1,910

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,910
EXPENSES Loan Payment -$1,042
Property Tax -$612
Property Insurance -$138
HOA -$51
Property Management Fees -$99
CASH FLOW
-$32

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.

$282,500

PROJECTED PRICE

$1,910

PROJECTED RENT

0.68%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 7.4%
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$200k$400k$600k$800k

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$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$900k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$80,613

INVESTMENT

$80,613

Down Payment
$70,625
Rehab Estimate
$5,750
Closing Costs
$4,238

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,042

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $70,625
Loan Amount $211,875
See What Happens When You Reinvest Cash Flow

3.83

YEARS SAVED

$12,272

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,910

    LIST RENT
  • $0.99

    LIST RENT PER SQFT
  • $1,878

    COMP ESTIMATED VALUE
  • $0.98

    COMP AVG. RENT PER SQFT
Comps Range
$1,600
1$1,6002$1,6953$1,9104$1,9955$2,095
$2,095
RENT COMPS ANALYSIS
  • 2638 Hidden Ridge Drive Arlington, TX 3
    • 4 beds 2 baths ∙ 1,921 Sqft ∙ Built 1992 4 beds 2 baths ∙ 1,921 Sqft ∙ Built 1992
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,910
    • $0.99
    •  
  • 2219 Lavon Creek Lane Arlington, TX 1
    • 3 beds 2 baths ∙ 1,730 Sqft ∙ Built 1980 3 beds 2 baths ∙ 1,730 Sqft ∙ Built 1980
    property image
    LEASED 05/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.92
    •  
  • 2306 Starke Court Arlington, TX 2
    • 3 beds 2 baths ∙ 1,737 Sqft ∙ Built 1980 3 beds 2 baths ∙ 1,737 Sqft ∙ Built 1980
    property image
    LEASED 03/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.98
    •  
  • 1307 Boardwalk Street Arlington, TX 4
    • 3 beds 3 baths ∙ 2,037 Sqft ∙ Built 1983 3 beds 3 baths ∙ 2,037 Sqft ∙ Built 1983
    property image
    LEASED 04/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.98
    •  
  • 1501 Park Chase Avenue Arlington, TX 5
    • 4 beds 3 baths ∙ 2,043 Sqft ∙ Built 1993 4 beds 3 baths ∙ 2,043 Sqft ∙ Built 1993
    property image
    LEASED 05/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,095
    • $1.03
    •  
PROPERTY LISTING DETAILS
Peter Wright
Ebby Halliday, Realtors
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14449134
Last Updated: 10/30/2020
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