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6210 Minuteman Lane Arlington, TX 76002

3 Beds 2 Baths 1,399 sqft Built 1985

$220,000

List Price

$1,430

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

February 03, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1985
  • Price/Sqft : $157.26
  • 5 Days on Market
  • MLS # : 14508046
  • Updated Date : 02/03/2021 at 22:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,399 sqft
  • Baths : 2 full
Listing Agent

Re/max Preferred Associates

Listing Agent's Description

Cute 3-2 with split living. The master retreat occupies the second floor with 2 roomy secondary bedrooms down. The large oversized living area offers a wood-burning fireplace for the winter and a nice ceiling fan for the summer. The back yard offers plenty of space to spread out with family and friends. Room for a garden too!

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
 

$198,000$242,000$220,000

PURCHASE PRICE

$1,287$1,573$1,430

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,430
EXPENSES Loan Payment -$764
Property Tax -$476
Property Insurance -$108
Property Management Fees -$99
CASH FLOW
-$17

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.

$220,000

PROJECTED PRICE

$1,430

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$64,050

INVESTMENT

$64,050

Down Payment
$55,000
Rehab Estimate
$5,750
Closing Costs
$3,300

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$764

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $55,000
Loan Amount $165,000
See What Happens When You Reinvest Cash Flow

4.08

YEARS SAVED

$8,390

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,430

    LIST RENT
  • $1.02

    LIST RENT PER SQFT
  • $1,430

    COMP ESTIMATED VALUE
  • $1.02

    COMP AVG. RENT PER SQFT
Comps Range
$1,430
1$1,4302$1,4753$1,4954$1,6005$1,600
$1,600
RENT COMPS ANALYSIS
  • 6210 Minuteman Lane Arlington, TX 1
    • 3 beds 2 baths ∙ 1,399 Sqft ∙ Built 1985 3 beds 2 baths ∙ 1,399 Sqft ∙ Built 1985
    • Rent
    • Rent Per SQFT
    •  
    • $1,430
    • $1.02
    •  
  • 400 Valley Mills Drive Arlington, TX 2
    • 3 beds 2 baths ∙ 1,446 Sqft ∙ Built 1986 3 beds 2 baths ∙ 1,446 Sqft ∙ Built 1986
    LEASED 03/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,475
    • $1.02
    •  
  • 5704 Congressional Drive Arlington, TX 3
    • 3 beds 2 baths ∙ 1,461 Sqft ∙ Built 1986 3 beds 2 baths ∙ 1,461 Sqft ∙ Built 1986
    LEASED 04/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $1.02
    •  
  • 522 Sea Rim Drive Arlington, TX 4
    • 3 beds 2 baths ∙ 1,560 Sqft ∙ Built 1986 3 beds 2 baths ∙ 1,560 Sqft ∙ Built 1986
    LEASED 06/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $1.03
    •  
  • 327 Moss Hill Drive Arlington, TX 5
    • 3 beds 2 baths ∙ 1,575 Sqft ∙ Built 1991 3 beds 2 baths ∙ 1,575 Sqft ∙ Built 1991
    LEASED 12/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $1.02
    •  
PROPERTY LISTING DETAILS
Kellie Fancher
Re/max Preferred Associates
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14508046
Last Updated: 02/03/2021
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