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6207 Minuteman Lane Arlington, TX 76002

3 Beds 3 Baths 1,544 sqft Built 1988

$224,900

List Price

$1,460

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 04, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1988
  • Price/Sqft : $145.66
  • 4 Days on Market
  • MLS # : 14520743
  • Updated Date : 03/06/2021 at 12:07
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,544 sqft
  • Baths : 2 full , 1 half
Listing Agent

Premier Legacy Real Estate Llc

Listing Agent's Description

Highest and best by 8PM today - Saturday March 6th, Won't last long. Move in ready. Great starter home with all 3 bedrooms located upstairs. Half bath for guests on main floor. Relax in the evenings under your covered back patio in your fenced in backyard while the kids and dogs play. Enjoy the kitchen with the island. Enjoy the living room fireplace with the vaulted ceiling, on those cool evenings. Easy access to I-20, shops and restaurants. Trane AC unit 2016 , master bedroom has 2 closet , WIFI thermostat. Workshop with electricity 12 feet by 16 feet , also 8 by 8 shed . Please have all offers in by SATURDAY NIGHT , seller will decide Sunday .

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: Southeast Arlington

NeighborhoodNIR Market*CityMarket2010Year20002019120k130k140k150k160k170k180k190k200k210k220k230k240kPrice in $117k243k

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

Neighborhood: Southeast Arlington

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
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
 

$202,410$247,390$224,900

PURCHASE PRICE

$1,314$1,606$1,460

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,460
EXPENSES Loan Payment -$781
Property Tax -$487
Property Insurance -$116
Property Management Fees -$99
CASH FLOW
-$23

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.

$224,900

PROJECTED PRICE

$1,460

PROJECTED RENT

0.65%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 8.9%
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$100k$200k$300k$400k$500k$600k$700k$800k

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$65,349

INVESTMENT

$65,349

Down Payment
$56,225
Rehab Estimate
$5,750
Closing Costs
$3,374

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$781

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $56,225
Loan Amount $168,675
See What Happens When You Reinvest Cash Flow

3.83

YEARS SAVED

$8,161

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,460

    LIST RENT
  • $0.95

    LIST RENT PER SQFT
  • $1,459

    COMP ESTIMATED VALUE
  • $0.95

    COMP AVG. RENT PER SQFT
Comps Range
$1,460
1$1,4602$1,5503$1,5504$1,5605$1,595
$1,595
RENT COMPS ANALYSIS
  • 6207 Minuteman Lane Arlington, TX 1
    • 3 beds 3 baths ∙ 1,544 Sqft ∙ Built 1988 3 beds 3 baths ∙ 1,544 Sqft ∙ Built 1988
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,460
    • $0.95
    •  
  • 705 Valley Spring Drive Arlington, TX 2
    • 3 beds 2 baths ∙ 1,575 Sqft ∙ Built 1994 3 beds 2 baths ∙ 1,575 Sqft ∙ Built 1994
    property image
    LEASED 07/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.98
    •  
  • 6206 Patriotic Court Arlington, TX 3
    • 3 beds 2 baths ∙ 1,688 Sqft ∙ Built 1985 3 beds 2 baths ∙ 1,688 Sqft ∙ Built 1985
    property image
    LEASED 10/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.92
    •  
  • 425 Betsy Ross Drive Arlington, TX 4
    • 3 beds 2 baths ∙ 1,683 Sqft ∙ Built 1984 3 beds 2 baths ∙ 1,683 Sqft ∙ Built 1984
    property image
    LEASED 10/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,560
    • $0.93
    •  
  • 911 Gwinnett Circle Arlington, TX 5
    • 3 beds 2 baths ∙ 1,673 Sqft ∙ Built 1986 3 beds 2 baths ∙ 1,673 Sqft ∙ Built 1986
    property image
    LEASED 04/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.95
    •  
PROPERTY LISTING DETAILS
Jeff Martinson
Premier Legacy Real Estate Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14520743
Last Updated: 03/06/2021
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