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6415 Fannin Drive Arlington, TX 76001

4 Beds 4 Baths 2,431 sqft Built 1996

$335,000

List Price

$2,200

$2K - $2.4K

Rent Est.

PROPERTY INFO

December 31, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1996
  • Price/Sqft : $137.80
  • 4 Days on Market
  • MLS # : 14491019
  • Updated Date : 12/31/2020 at 18:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,431 sqft
  • Baths : 3 full , 1 half
Listing Agent

Exit Realty Pinnacle Group

Listing Agent's Description

GORGEOUS 2 STORY IN FANNIN FARM ADDITION WITH A BACKYARD OASIS! Home features four bedrooms, three and 1 half bath, gameroom, 2 dining areas, master is downstairs. Many updates include wood floors, inside paint, appliances, fixtures, Roof, HVAC, solar screens & board on board wood fence. Saltwater Swimming pool has recent $10k replaster and pump. Recently built covered outdoor entertaining area with auto adjustable tv and more! Large yard on a corner lot with garden box, storage building & pool storage area. Walk, bike trails located at end of street that lead to park and playground. Home has a 2 year transferable warranty that includes pool coverage. Information is approximate & buyer to verify all info.

SEE MORE

MARKET HIGHLIGHTS

  • # 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)
  • . Dallas has 7th largest concentration of high-tech jobs in the U.S. (Dallas Chamber)

PRICE & RENT TRENDS

Neighborhood: Fannin Farm

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $117k336k

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

Neighborhood: Fannin Farm

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800190020002100Rent in $10222195

* 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
Carol Holt Elementary School Primary Regular 476 32 7
T.a. Howard Middle School Middle Regular 855 59 6
Mansfield Summit High School High Regular 2,020 114 4

Carol Holt Elementary School

  • Education Level: Primary
  • # of students: 476
  • # of teachers: 32
7
GreatSchools Rating

T.a. Howard Middle School

  • Education Level: Middle
  • # of students: 855
  • # of teachers: 59
6
GreatSchools Rating

Mansfield Summit High School

  • Education Level: High
  • # of students: 2,020
  • # of teachers: 114
4
GreatSchools Rating
 

$301,500$368,500$335,000

PURCHASE PRICE

$1,980$2,420$2,200

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,200
EXPENSES Loan Payment -$1,236
Property Tax -$725
Property Insurance -$168
HOA -$25
Property Management Fees -$99
CASH FLOW
-$53

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.

$335,000

PROJECTED PRICE

$2,200

PROJECTED RENT

0.66%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 7.6%
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

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$94,525

INVESTMENT

$94,525

Down Payment
$83,750
Rehab Estimate
$5,750
Closing Costs
$5,025

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,236

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $83,750
Loan Amount $251,250
See What Happens When You Reinvest Cash Flow

3.67

YEARS SAVED

$13,553

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,200

    LIST RENT
  • $0.9

    LIST RENT PER SQFT
  • $2,151

    COMP ESTIMATED VALUE
  • $0.89

    COMP AVG. RENT PER SQFT
Comps Range
$1,950
1$1,9502$2,0003$2,1004$2,2005$2,200
$2,200
RENT COMPS ANALYSIS
  • 6415 Fannin Drive Arlington, TX 5
    • 4 beds 4 baths ∙ 2,431 Sqft ∙ Built 1996 4 beds 4 baths ∙ 2,431 Sqft ∙ Built 1996
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.90
    •  
  • 1114 Orangewood Lane Arlington, TX 1
    • 4 beds 3 baths ∙ 2,395 Sqft ∙ Built 1989 4 beds 3 baths ∙ 2,395 Sqft ∙ Built 1989
    LEASED 03/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.81
    •  
  • 6207 Parkside Drive Arlington, TX 2
    • 4 beds 2 baths ∙ 2,388 Sqft ∙ Built 2001 4 beds 2 baths ∙ 2,388 Sqft ∙ Built 2001
    LEASED 01/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.84
    •  
  • 2319 Glenmoor Drive Arlington, TX 3
    • 3 beds 2 baths ∙ 2,255 Sqft ∙ Built 2001 3 beds 2 baths ∙ 2,255 Sqft ∙ Built 2001
    LEASED 11/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.93
    •  
  • 6315 Weaver Drive Arlington, TX 4
    • 4 beds 3 baths ∙ 2,297 Sqft ∙ Built 2010 4 beds 3 baths ∙ 2,297 Sqft ∙ Built 2010
    LEASED 02/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.96
    •  
PROPERTY LISTING DETAILS
Kathy Hobbs
Exit Realty Pinnacle Group
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14491019
Last Updated: 12/31/2020
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