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6401 Saddle Ridge Road Arlington, TX 76016

3 Beds 3 Baths 2,447 sqft Built 1997

$375,000

List Price

$2,350

$2.1K - $2.6K

Rent Est.

PROPERTY INFO

February 06, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1997
  • Price/Sqft : $153.25
  • 2 Days on Market
  • MLS # : 14501913
  • Updated Date : 02/06/2021 at 13:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,447 sqft
  • Baths : 2 full , 1 half
Listing Agent

Premiere Properties

Listing Agent's Description

Just minutes from Lake Arlington, this home is located in Shorewood Estates, an excellent area with loads of trees and park like settings. A great 45 foot front porch invites guests and family to come share the peace of this home. The lot is just over one third acre with private with 8 ft fence on one side, a deck and a pool to enjoy. The Master bedroom is downstairs, has walk in closet a separate tub , shower and vanity. Kitchen counters are granite, stainless steel appliances and 16 inch tile floors. The downstairs living areas and Master bedroom floors are beautiful Acacia wood. Don't miss the extra storage space in the garage.Notice the radient barrier too!! This home has it all,move in ready will not last.

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: Shorewood

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $117k336k

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

Neighborhood: Shorewood

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
Young Junior High School Middle Regular 792 53 7
Martin High School High Regular 3,361 199 7
Young Junior High School Middle Unknown NA

Young Junior High School

  • Education Level: Middle
  • # of students: 792
  • # of teachers: 53
7
GreatSchools Rating

Martin High School

  • Education Level: High
  • # of students: 3,361
  • # of teachers: 199
7
GreatSchools Rating

Young Junior High School

  • Education Level: Middle
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$337,500$412,500$375,000

PURCHASE PRICE

$2,115$2,585$2,350

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,350
EXPENSES Loan Payment -$1,303
Property Tax -$812
Property Insurance -$169
Property Management Fees -$99
CASH FLOW
-$32

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.

$375,000

PROJECTED PRICE

$2,350

PROJECTED RENT

0.63%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 8.1%
Maintenance Year (1-5) 8.00%
Vacancy 6.93%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

PROJECTED ANNUAL CASH FLOW

11530-$6.0k-$4.0k-$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$200k$400k$600k$800k$1.0M$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$105,125

INVESTMENT

$105,125

Down Payment
$93,750
Rehab Estimate
$5,750
Closing Costs
$5,625

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,303

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $93,750
Loan Amount $281,250
See What Happens When You Reinvest Cash Flow

3.83

YEARS SAVED

$13,826

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,350

    LIST RENT
  • $0.96

    LIST RENT PER SQFT
  • $1,921

    COMP ESTIMATED VALUE
  • $0.79

    COMP AVG. RENT PER SQFT
Comps Range
$1,895
1$1,8952$1,9103$2,0004$2,0005$2,350
$2,350
RENT COMPS ANALYSIS
  • 6401 Saddle Ridge Road Arlington, TX 5
    • 3 beds 3 baths ∙ 2,447 Sqft ∙ Built 1997 3 beds 3 baths ∙ 2,447 Sqft ∙ Built 1997
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $0.96
    •  
  • 4103 Orchard Hill Drive Arlington, TX 1
    • 3 beds 2 baths ∙ 2,430 Sqft ∙ Built 1983 3 beds 2 baths ∙ 2,430 Sqft ∙ Built 1983
    LEASED 11/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.78
    •  
  • 4102 Twinhill Court Arlington, TX 2
    • 4 beds 3 baths ∙ 2,430 Sqft ∙ Built 1983 4 beds 3 baths ∙ 2,430 Sqft ∙ Built 1983
    LEASED 12/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,910
    • $0.79
    •  
  • 3819 Shorewood Drive Arlington, TX 3
    • 4 beds 4 baths ∙ 2,468 Sqft ∙ Built 2013 4 beds 4 baths ∙ 2,468 Sqft ∙ Built 2013
    LEASED 08/26/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.81
    •  
  • 6909 Shore Breeze Court Arlington, TX 4
    • 4 beds 3 baths ∙ 2,628 Sqft ∙ Built 2007 4 beds 3 baths ∙ 2,628 Sqft ∙ Built 2007
    LEASED 09/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.76
    •  
PROPERTY LISTING DETAILS
Thomas Brewer
Premiere Properties
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14501913
Last Updated: 02/06/2021
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