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6108 Summerfield Drive Arlington, TX 76018

4 Beds 2 Baths 1,819 sqft Built 2001

$245,000

List Price

$1,730

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 06, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2001
  • Price/Sqft : $134.69
  • 2 Days on Market
  • MLS # : 14527039
  • Updated Date : 03/06/2021 at 20:34
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,819 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Arlington

Listing Agent's Description

MULTIPLE OFFERS RECEIVED. HIGHEST & BEST DUE MONDAY MARCH 8TH BY 9AM. Exquisite single story property located in the sought after Brookmeadow community within minutes of shopping, dining, parks, Joe Pool lake and 360. Pride of ownership shows with this spacious floor plan boasting tons of windows bringing in natural light, no carpet, and gorgeous accents through. Spacious kitchen boasting massive amounts of cabinet space with granite countertops and convenient access to formal dining and living room. Bathrooms include immaculate vessel bathroom sinks. Expansive owners retreat offers separate garden tub and shower, walk-in closet. Arlington ISD. Welcome HOME!

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: Brookmeadow

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240kPrice in $88k243k

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

Neighborhood: Brookmeadow

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700Rent in $9451734

* 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
Ousley Junior High School Middle Regular 592 45 6
Seguin High School High Regular 1,653 114 5

Ousley Junior High School

  • Education Level: Middle
  • # of students: 592
  • # of teachers: 45
6
GreatSchools Rating

Seguin High School

  • Education Level: High
  • # of students: 1,653
  • # of teachers: 114
5
GreatSchools Rating
 

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

PURCHASE PRICE

$1,557$1,903$1,730

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,730
EXPENSES Loan Payment -$851
Property Tax -$530
Property Insurance -$132
Property Management Fees -$99
CASH FLOW
$117

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.

$245,000

PROJECTED PRICE

$1,730

PROJECTED RENT

0.71%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.74%
Appreciation Year (1-5) 10.3%
Maintenance Year (1-5) 8.00%
Vacancy 6.69%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M

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$900k

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 50% 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

6.58

YEARS SAVED

$19,292

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,730

    LIST RENT
  • $0.95

    LIST RENT PER SQFT
  • $1,710

    COMP ESTIMATED VALUE
  • $0.94

    COMP AVG. RENT PER SQFT
Comps Range
$1,550
1$1,5502$1,5703$1,7254$1,7305$1,900
$1,900
RENT COMPS ANALYSIS
  • 6108 Summerfield Drive Arlington, TX 4
    • 4 beds 2 baths ∙ 1,819 Sqft ∙ Built 2001 4 beds 2 baths ∙ 1,819 Sqft ∙ Built 2001
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,730
    • $0.95
    •  
  • 6400 Twin Spruce Court Arlington, TX 1
    • 3 beds 2 baths ∙ 1,710 Sqft ∙ Built 1984 3 beds 2 baths ∙ 1,710 Sqft ∙ Built 1984
    property image
    LEASED 03/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.91
    •  
  • 5909 King William Drive Arlington, TX 2
    • 3 beds 2 baths ∙ 1,785 Sqft ∙ Built 1995 3 beds 2 baths ∙ 1,785 Sqft ∙ Built 1995
    property image
    LEASED 06/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,570
    • $0.88
    •  
  • 1001 Mapleview Drive Arlington, TX 3
    • 3 beds 2 baths ∙ 1,710 Sqft ∙ Built 1984 3 beds 2 baths ∙ 1,710 Sqft ∙ Built 1984
    property image
    LEASED 06/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,725
    • $1.01
    •  
  • 6107 Twin Maple Drive Arlington, TX 5
    • 4 beds 2 baths ∙ 1,975 Sqft ∙ Built 2000 4 beds 2 baths ∙ 1,975 Sqft ∙ Built 2000
    property image
    LEASED 11/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.96
    •  
PROPERTY LISTING DETAILS
Jean Christenberry
Keller Williams Arlington
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14527039
Last Updated: 03/06/2021
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