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6510 Devine Drive Arlington, TX 76001

3 Beds 2 Baths 2,129 sqft Built 1986

$275,000

List Price

$1,810

$1.6K - $2K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1986
  • Price/Sqft : $129.17
  • 3 Days on Market
  • MLS # : 14529794
  • Updated Date : 03/13/2021 at 17:57
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,129 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Arlington

Listing Agent's Description

Located in Arlington with Mansfield ISD. Upon entering you are greeted with high ceilings and a beautiful fireplace. Fresh paint and new fixtures to exceed your expectations! Formal dining and bonus room joined to the master suite which is located on the first floor. Best of all, WOOD floors throughout the first floor! Interior photos coming soon.

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: 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
 

$247,500$302,500$275,000

PURCHASE PRICE

$1,629$1,991$1,810

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,810
EXPENSES Loan Payment -$955
Property Tax -$595
Property Insurance -$150
Property Management Fees -$99
CASH FLOW
$10

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.

$275,000

PROJECTED PRICE

$1,810

PROJECTED RENT

0.66%

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-$4.0k-$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$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$78,625

INVESTMENT

$78,625

Down Payment
$68,750
Rehab Estimate
$5,750
Closing Costs
$4,125

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$955

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $68,750
Loan Amount $206,250
See What Happens When You Reinvest Cash Flow

4.33

YEARS SAVED

$11,772

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,810

    LIST RENT
  • $0.85

    LIST RENT PER SQFT
  • $1,868

    COMP ESTIMATED VALUE
  • $0.88

    COMP AVG. RENT PER SQFT
Comps Range
$1,650
1$1,6502$1,8103$1,8954$1,9005$1,975
$1,975
RENT COMPS ANALYSIS
  • 6510 Devine Drive Arlington, TX 2
    • 3 beds 2 baths ∙ 2,129 Sqft ∙ Built 1986 3 beds 2 baths ∙ 2,129 Sqft ∙ Built 1986
    • Rent
    • Rent Per SQFT
    •  
    • $1,810
    • $0.85
    •  
  • 920 Meadowdale Road Arlington, TX 1
    • 4 beds 3 baths ∙ 1,930 Sqft ∙ Built 1986 4 beds 3 baths ∙ 1,930 Sqft ∙ Built 1986
    LEASED 10/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.85
    •  
  • 1109 Cherrytree Drive Arlington, TX 3
    • 4 beds 3 baths ∙ 2,065 Sqft ∙ Built 1987 4 beds 3 baths ∙ 2,065 Sqft ∙ Built 1987
    LEASED 06/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.92
    •  
  • 1009 Angel Fire Lane Arlington, TX 4
    • 4 beds 2 baths ∙ 2,134 Sqft ∙ Built 1997 4 beds 2 baths ∙ 2,134 Sqft ∙ Built 1997
    LEASED 04/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.89
    •  
  • 6701 Keeler Drive Arlington, TX 5
    • 4 beds 3 baths ∙ 2,329 Sqft ∙ Built 1986 4 beds 3 baths ∙ 2,329 Sqft ∙ Built 1986
    LEASED 06/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,975
    • $0.85
    •  
PROPERTY LISTING DETAILS
Lucy Knox
Keller Williams Arlington
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14529794
Last Updated: 03/13/2021
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