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6405 Minuteman Lane Arlington, TX 76002

3 Beds 2 Baths 1,137 sqft Built 1985

$206,000

List Price

$1,400

$1.3K - $1.5K

Rent Est.

PROPERTY INFO

December 12, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1985
  • Price/Sqft : $181.18
  • 2 Days on Market
  • MLS # : 14484930
  • Updated Date : 12/12/2020 at 11:54
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,137 sqft
  • Baths : 2 full
Listing Agent

Jp And Associates Arlington

Listing Agent's Description

Give yourself an awesome Christmas present! This charming 3 bedroom 2 bath home is ready for the perfect family. Conveniently located in the Arlington School District and situated near shopping, restaurants and entertainment. Large backyard for entertainment or relaxation. This lovely home features an open concept and is ready for a quick move in.

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: 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
Ashworth Elementary School Primary Regular 520 35 8
Ashworth Elementary School Middle Regular 520 35 8
Seguin High School High Regular 1,653 114 5

Ashworth Elementary School

  • Education Level: Primary
  • # of students: 520
  • # of teachers: 35
8
GreatSchools Rating

Ashworth Elementary School

  • Education Level: Middle
  • # of students: 520
  • # of teachers: 35
8
GreatSchools Rating

Seguin High School

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

$185,400$226,600$206,000

PURCHASE PRICE

$1,260$1,540$1,400

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,400
EXPENSES Loan Payment -$760
Property Tax -$446
Property Insurance -$93
Property Management Fees -$99
CASH FLOW
$2

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.

$206,000

PROJECTED PRICE

$1,400

PROJECTED RENT

0.68%

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

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$60,340

INVESTMENT

$60,340

Down Payment
$51,500
Rehab Estimate
$5,750
Closing Costs
$3,090

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$760

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $51,500
Loan Amount $154,500
See What Happens When You Reinvest Cash Flow

4.58

YEARS SAVED

$11,562

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,400

    LIST RENT
  • $1.23

    LIST RENT PER SQFT
  • $1,171

    COMP ESTIMATED VALUE
  • $1.03

    COMP AVG. RENT PER SQFT
Comps Range
$1,400
1$1,4002$1,4753$1,495
$1,495
RENT COMPS ANALYSIS
  • 6405 Minuteman Lane Arlington, TX 1
    • 3 beds 2 baths ∙ 1,137 Sqft ∙ Built 1985 3 beds 2 baths ∙ 1,137 Sqft ∙ Built 1985
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $1.23
    •  
  • 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
    •  
  • 406 Valley Spring Drive Arlington, TX 3
    • 3 beds 2 baths ∙ 1,432 Sqft ∙ Built 1985 3 beds 2 baths ∙ 1,432 Sqft ∙ Built 1985
    LEASED 12/09/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $1.04
    •  
PROPERTY LISTING DETAILS
Sandra Lucero-garner
Jp And Associates Arlington
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14484930
Last Updated: 12/12/2020
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