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6300 Elm Springs Drive Arlington, TX 76001

3 Beds 2 Baths 1,742 sqft Built 1983

INVESTimate

$210,000

List Price

$1,560

$1,404 - $1,716

Rent Est.

$226,884  ( +8.04%)   1 YR EST. FORECAST

PROPERTY INFO

August 22, 2020 RECENTLY ADDED
FACTS
  • Built In 1983
  • Price/Sqft : $120.55
  • 5 Days on Market
  • MLS # : 14415047
  • Updated Date : 08/22/2020 at 07:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,742 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Arlington

Listing Agent's Description

*Special Financing Available* Gorgeous hand scraped wood floors throughout the entire home & a kitchen filled with custom cabinets and beautiful granite truly set this home apart. This home is perfect for entertaining with big bar in the kitchen that overlooks a large dining area. On top of this it comes with a huge 20x20 covered patio complete with misters and has plenty of room for the hot tub and anything else you can imagine. Don’t miss this amazing opportunity with easy access to 287 and I-20.

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: Pleasant Grove

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240kPrice in $95k243k

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

Neighborhood: Pleasant Grove

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700Rent in $9391734

* 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
Kennedale High School High Regular 993 60 5

Kennedale High School

  • Education Level: High
  • # of students: 993
  • # of teachers: 60
5
GreatSchools Rating
 

$189,000$231,000$210,000

PURCHASE PRICE

$1,404$1,716$1,560

RENT

DOWN PAYMENT
FINANCING

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$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,560
EXPENSES Loan Payment -$775
Property Tax -$455
Property Insurance -$128
Property Management Fees -$99
CASH FLOW
$104

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.

$210,000

PROJECTED PRICE

$1,560

PROJECTED RENT

0.74%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 8.04%
Maintenance Year (1-5) 8.00%
Vacancy 6.39%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$61,400

INVESTMENT

$61,400

Down Payment
$52,500
Rehab Estimate
$5,750
Closing Costs
$3,150

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$775

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $52,500
Loan Amount $157,500
See What Happens When You Reinvest Cash Flow

7.08

YEARS SAVED

$20,914

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,560

    LIST RENT
  • $0.9

    LIST RENT PER SQFT
  • $1,651

    COMP ESTIMATED VALUE
  • $0.95

    COMP AVG. RENT PER SQFT
Comps Range
$1,495
1$1,4952$1,5503$1,5504$1,5605$1,650
$1,650
RENT COMPS ANALYSIS
  • 6300 Elm Springs Drive Arlington, TX 4
    • 3 beds 2 baths ∙ 1,742 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,742 Sqft ∙ Built 1983
    • Rent
    • Rent Per SQFT
    •  
    • $1,560
    • $0.90
    •  
  • 6310 Walnut Springs Drive Arlington, TX 1
    • 3 beds 2 baths ∙ 1,710 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,710 Sqft ∙ Built 1983
    LEASED 03/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.87
    •  
  • 6222 Hott Springs Drive Arlington, TX 2
    • 3 beds 2 baths ∙ 1,550 Sqft ∙ Built 1982 3 beds 2 baths ∙ 1,550 Sqft ∙ Built 1982
    LEASED 08/31/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $1.00
    •  
  • 6309 Big Springs Drive Arlington, TX 3
    • 3 beds 2 baths ∙ 1,545 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,545 Sqft ∙ Built 1983
    LEASED 10/11/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $1.00
    •  
  • 6305 Elm Springs Drive Arlington, TX 5
    • 3 beds 2 baths ∙ 1,798 Sqft ∙ Built 1982 3 beds 2 baths ∙ 1,798 Sqft ∙ Built 1982
    LEASED 02/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.92
    •  
PROPERTY LISTING DETAILS
Dalton Carroll
Keller Williams Arlington
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14415047
Last Updated: 08/22/2020
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