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6428 Fannin Drive Arlington, TX 76001

5 Beds 4 Baths 3,116 sqft Built 1995

$379,000

List Price

$2,580

$2.3K - $2.8K

Rent Est.

PROPERTY INFO

January 12, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1995
  • Price/Sqft : $121.63
  • 6 Days on Market
  • MLS # : 14498236
  • Updated Date : 01/16/2021 at 13:22
CONSTRUCTION
  • Beds : 5
  • Floor Size : 3,116 sqft
  • Baths : 4 full
Listing Agent

Pioneer Dfw Realty, Llc

Listing Agent's Description

Beautiful 5 bedroom, 3 bath home with master down and three bedrooms up. Huge heavily treed lot on on quiet cul-de-sac right next to the nature preserve with walking trails! Premium hardwood floors in living room, large open kitchen with granite & ample storage. Roof and HVAC under 5 years of age. Home has recent interior paint, custom finishes, and new fixtures. Front room pre-wired for media or can be a formal dining. All bedrooms have large closets, lots of natural light and are set apart for privacy. The garage is truly oversized and can fit a full sized truck. Fannin Farm subdivision has low $300 a year HOA and has three community pools & amenities. Exemplary Mansfield ISD AND easy access to I20 and 360.

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
 

$341,100$416,900$379,000

PURCHASE PRICE

$2,322$2,838$2,580

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,580
EXPENSES Loan Payment -$1,316
Property Tax -$821
Property Insurance -$207
HOA -$25
Property Management Fees -$99
CASH FLOW
$112

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.

$379,000

PROJECTED PRICE

$2,580

PROJECTED RENT

0.68%

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$1.2M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k

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$106,185

INVESTMENT

$106,185

Down Payment
$94,750
Rehab Estimate
$5,750
Closing Costs
$5,685

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,316

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $94,750
Loan Amount $284,250
See What Happens When You Reinvest Cash Flow

5.58

YEARS SAVED

$24,350

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,580

    LIST RENT
  • $0.83

    LIST RENT PER SQFT
  • $2,353

    COMP ESTIMATED VALUE
  • $0.76

    COMP AVG. RENT PER SQFT
Comps Range
$1,875
1$1,8752$2,1953$2,3004$2,3955$2,580
$2,580
RENT COMPS ANALYSIS
  • 6428 Fannin Drive Arlington, TX 5
    • 4 beds 4 baths ∙ 3,116 Sqft ∙ Built 1995 4 beds 4 baths ∙ 3,116 Sqft ∙ Built 1995
    • Rent
    • Rent Per SQFT
    •  
    • $2,580
    • $0.83
    •  
  • 2214 Park Hurst Drive Arlington, TX 1
    • 4 beds 3 baths ∙ 2,769 Sqft ∙ Built 1992 4 beds 3 baths ∙ 2,769 Sqft ∙ Built 1992
    LEASED 04/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,875
    • $0.68
    •  
  • 6422 Parkmont Drive Arlington, TX 2
    • 4 beds 4 baths ∙ 2,839 Sqft ∙ Built 1997 4 beds 4 baths ∙ 2,839 Sqft ∙ Built 1997
    LEASED 08/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,195
    • $0.77
    •  
  • 6342 Cobblestone Lane Arlington, TX 3
    • 4 beds 4 baths ∙ 2,958 Sqft ∙ Built 1997 4 beds 4 baths ∙ 2,958 Sqft ∙ Built 1997
    LEASED 10/13/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.78
    •  
  • 2416 Aramic Court Arlington, TX 4
    • 5 beds 4 baths ∙ 3,017 Sqft ∙ Built 2003 5 beds 4 baths ∙ 3,017 Sqft ∙ Built 2003
    LEASED 04/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,395
    • $0.79
    •  
PROPERTY LISTING DETAILS
Matt Shomer
Pioneer Dfw Realty, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14498236
Last Updated: 01/16/2021
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