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6018 Red Fern Drive Arlington, TX 76001

3 Beds 2 Baths 2,180 sqft Built 1999

INVESTimate

$268,000

List Price

$1,890

$1,701 - $2,079

Rent Est.

$289,547  ( +8.04%)   1 YR EST. FORECAST

PROPERTY INFO

August 23, 2020 RECENTLY ADDED
FACTS
  • Built In 1999
  • Price/Sqft : $122.94
  • 4 Days on Market
  • MLS # : 14417954
  • Updated Date : 08/25/2020 at 13:31
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,180 sqft
  • Baths : 2 full
Listing Agent

Living Waters Realty Of Texas

Listing Agent's Description

Classic Custom Steve Hawkins Home on beautifully landscaped lot, nestled in lush gardens and mature trees with a rear entry garage in Mansfield ISD. Some features include: enclosed sunroom with HVAC, spacious kitchen and long breakfast bar, (Removeable Island can stay) shutters, laminate floors, stone like tile flooring, picture molding in Formal, plant decorative ledges, built-in bookshelves & so much more. New HVAC System and Thermostat Replaced Aug-2020, New Water Heater Oct-2018, 3 Tab Shingle Roof with 25 Year Warranty & Gutters Replaced in March-2016. All Kitchen Appliances Replaced in Nov-2016. 6 Zone Sprinkler System with Rain-Bird Gage, Outside Storage, Mulch Bin, Builtins in Garage.

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: Edgewood West

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $117k336k

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

Neighborhood: Edgewood West

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800190020002100Rent in $10222171

* 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
Carol Holt Elementary School Primary Regular 476 32 7
T.a. Howard Middle School Middle Regular 855 59 6
Mansfield Summit High School High Regular 2,020 114 4

Carol Holt Elementary School

  • Education Level: Primary
  • # of students: 476
  • # of teachers: 32
7
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
 

$241,200$294,800$268,000

PURCHASE PRICE

$1,701$2,079$1,890

RENT

DOWN PAYMENT
FINANCING

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$12k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,890
EXPENSES Loan Payment -$989
Property Tax -$580
Property Insurance -$153
Property Management Fees -$99
CASH FLOW
$69

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.

$268,000

PROJECTED PRICE

$1,890

PROJECTED RENT

0.71%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 8.04%
Maintenance Year (1-5) 8.00%
Vacancy 6.93%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$76,770

INVESTMENT

$76,770

Down Payment
$67,000
Rehab Estimate
$5,750
Closing Costs
$4,020

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$989

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $67,000
Loan Amount $201,000
See What Happens When You Reinvest Cash Flow

5.67

YEARS SAVED

$20,350

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,890

    LIST RENT
  • $0.87

    LIST RENT PER SQFT
  • $1,946

    COMP ESTIMATED VALUE
  • $0.89

    COMP AVG. RENT PER SQFT
Comps Range
$1,795
1$1,7952$1,8903$1,8954$2,2005$2,275
$2,275
RENT COMPS ANALYSIS
  • 6018 Red Fern Drive Arlington, TX 2
    • 3 beds 2 baths ∙ 2,180 Sqft ∙ Built 1999 3 beds 2 baths ∙ 2,180 Sqft ∙ Built 1999
    • Rent
    • Rent Per SQFT
    •  
    • $1,890
    • $0.87
    •  
  • 5904 Polo Club Drive Arlington, TX 1
    • 4 beds 3 baths ∙ 2,204 Sqft ∙ Built 1987 4 beds 3 baths ∙ 2,204 Sqft ∙ Built 1987
    LEASED 10/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.81
    •  
  • 6103 Pinwood Circle Arlington, TX 3
    • 4 beds 2 baths ∙ 2,250 Sqft ∙ Built 1990 4 beds 2 baths ∙ 2,250 Sqft ∙ Built 1990
    LEASED 12/04/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.84
    •  
  • 6315 Weaver Drive Arlington, TX 4
    • 4 beds 3 baths ∙ 2,297 Sqft ∙ Built 2010 4 beds 3 baths ∙ 2,297 Sqft ∙ Built 2010
    LEASED 02/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.96
    •  
  • 6123 Sandstone Drive Arlington, TX 5
    • 4 beds 3 baths ∙ 2,371 Sqft ∙ Built 1992 4 beds 3 baths ∙ 2,371 Sqft ∙ Built 1992
    LEASED 01/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,275
    • $0.96
    •  
PROPERTY LISTING DETAILS
Anita Lusk
Living Waters Realty Of Texas
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14417954
Last Updated: 08/25/2020
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