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6503 Stetter Drive Arlington, TX 76001

3 Beds 2 Baths 1,574 sqft Built 1993

$225,000

List Price

$1,630

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

December 10, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1993
  • Price/Sqft : $142.95
  • 4 Days on Market
  • MLS # : 14484015
  • Updated Date : 12/11/2020 at 07:26
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,574 sqft
  • Baths : 2 full
Listing Agent

Krish Homes

Listing Agent's Description

Very well maintained home in the highly desirable Mansfield ISD! This amazing 3 bed, 2 bath home features a large living room and huge master suite as well as a spacious back yard with ample play space! Easy access to hwy 360 or 20 for an easy commute to and from work as well as close to shopping and restaurants.

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: Stonebrook Estates

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240kPrice in $88k243k

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

Neighborhood: Stonebrook Estates

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700Rent in $9281734

* 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
Kenneth Davis Elementary School Primary Regular 616 44 6
T.a. Howard Middle School Middle Regular 855 59 6
Mansfield Summit High School High Regular 2,020 114 4

Kenneth Davis Elementary School

  • Education Level: Primary
  • # of students: 616
  • # of teachers: 44
6
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
 

$202,500$247,500$225,000

PURCHASE PRICE

$1,467$1,793$1,630

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,630
EXPENSES Loan Payment -$830
Property Tax -$487
Property Insurance -$118
Property Management Fees -$99
CASH FLOW
$96

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.

$225,000

PROJECTED PRICE

$1,630

PROJECTED RENT

0.72%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.74%
Appreciation Year (1-5) 12.2%
Maintenance Year (1-5) 8.00%
Vacancy 6.69%
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-$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$800k$900k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$65,375

INVESTMENT

$65,375

Down Payment
$56,250
Rehab Estimate
$5,750
Closing Costs
$3,375

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$830

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $56,250
Loan Amount $168,750
See What Happens When You Reinvest Cash Flow

6.5

YEARS SAVED

$20,233

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,630

    LIST RENT
  • $1.04

    LIST RENT PER SQFT
  • $1,641

    COMP ESTIMATED VALUE
  • $1.04

    COMP AVG. RENT PER SQFT
Comps Range
$1,550
1$1,5502$1,5753$1,6304$1,6955$1,895
$1,895
RENT COMPS ANALYSIS
  • 6503 Stetter Drive Arlington, TX 3
    • 3 beds 2 baths ∙ 1,574 Sqft ∙ Built 1993 3 beds 2 baths ∙ 1,574 Sqft ∙ Built 1993
    • Rent
    • Rent Per SQFT
    •  
    • $1,630
    • $1.04
    •  
  • 6508 Impala Drive Arlington, TX 1
    • 3 beds 2 baths ∙ 1,463 Sqft ∙ Built 1991 3 beds 2 baths ∙ 1,463 Sqft ∙ Built 1991
    LEASED 03/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $1.06
    •  
  • 6502 Aires Drive Arlington, TX 2
    • 3 beds 2 baths ∙ 1,526 Sqft ∙ Built 1986 3 beds 2 baths ∙ 1,526 Sqft ∙ Built 1986
    LEASED 02/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,575
    • $1.03
    •  
  • 6518 Country Creek Drive Arlington, TX 4
    • 3 beds 2 baths ∙ 1,683 Sqft ∙ Built 1986 3 beds 2 baths ∙ 1,683 Sqft ∙ Built 1986
    LEASED 05/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $1.01
    •  
  • 907 Clear Creek Drive Arlington, TX 5
    • 4 beds 2 baths ∙ 1,772 Sqft ∙ Built 1995 4 beds 2 baths ∙ 1,772 Sqft ∙ Built 1995
    LEASED 11/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $1.07
    •  
PROPERTY LISTING DETAILS
Ash Vishwamitra
Krish Homes
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14484015
Last Updated: 12/11/2020
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