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6600 W Lynn Creek Drive Arlington, TX 76001

3 Beds 2 Baths 1,610 sqft Built 1987

$220,000

List Price

$1,640

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 25, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1987
  • Price/Sqft : $136.65
  • 4 Days on Market
  • MLS # : 14521599
  • Updated Date : 02/25/2021 at 21:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,610 sqft
  • Baths : 2 full
Listing Agent

Re/max Associates Of Arlington

Listing Agent's Description

Lovely 3 bedroom 2 bath home in South Arlington. Mansfield Schools. Oversized lot offers a huge backyard. Master down. Freshly painted kitchen cabinets and updated master bath with separate sink areas. Upstairs has an open loft area and the additional two bedrooms. AND Bonus storage room located through the upstairs bathroom. Recent Laminate flooring down and carpet replaced in bedrooms and upstairs last week.

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: Eden Road Estates

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240kPrice in $88k243k

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

Neighborhood: Eden Road Estates

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700Rent in $9451734

* 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
 

$198,000$242,000$220,000

PURCHASE PRICE

$1,476$1,804$1,640

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,640
EXPENSES Loan Payment -$764
Property Tax -$476
Property Insurance -$120
Property Management Fees -$99
CASH FLOW
$180

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.

$220,000

PROJECTED PRICE

$1,640

PROJECTED RENT

0.75%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.74%
Appreciation Year (1-5) 8.8%
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$100k$200k$300k$400k$500k$600k$700k$800k$900k

PROJECTED ANNUAL CASH FLOW

11530$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$100k$200k$300k$400k$500k$600k$700k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$64,050

INVESTMENT

$64,050

Down Payment
$55,000
Rehab Estimate
$5,750
Closing Costs
$3,300

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$764

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $55,000
Loan Amount $165,000
See What Happens When You Reinvest Cash Flow

8.33

YEARS SAVED

$24,226

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,640

    LIST RENT
  • $1.02

    LIST RENT PER SQFT
  • $1,634

    COMP ESTIMATED VALUE
  • $1.02

    COMP AVG. RENT PER SQFT
Comps Range
$1,640
1$1,6402$1,6503$1,6504$1,6505$1,850
$1,850
RENT COMPS ANALYSIS
  • 6600 W Lynn Creek Drive Arlington, TX 1
    • 3 beds 2 baths ∙ 1,610 Sqft ∙ Built 1987 3 beds 2 baths ∙ 1,610 Sqft ∙ Built 1987
    • Rent
    • Rent Per SQFT
    •  
    • $1,640
    • $1.02
    •  
  • 6719 Copperwood Court Arlington, TX 2
    • 3 beds 3 baths ∙ 1,691 Sqft ∙ Built 1992 3 beds 3 baths ∙ 1,691 Sqft ∙ Built 1992
    LEASED 03/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.98
    •  
  • 923 W Lynn Creek Drive Arlington, TX 3
    • 3 beds 2 baths ∙ 1,550 Sqft ∙ Built 1987 3 beds 2 baths ∙ 1,550 Sqft ∙ Built 1987
    LEASED 05/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.06
    •  
  • 6800 W Lynn Creek Drive Arlington, TX 4
    • 3 beds 2 baths ∙ 1,728 Sqft ∙ Built 1995 3 beds 2 baths ∙ 1,728 Sqft ∙ Built 1995
    LEASED 07/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.95
    •  
  • 6808 W Lynn Creek Drive Arlington, TX 5
    • 3 beds 2 baths ∙ 1,728 Sqft ∙ Built 1996 3 beds 2 baths ∙ 1,728 Sqft ∙ Built 1996
    LEASED 01/28/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $1.07
    •  
PROPERTY LISTING DETAILS
De Anna Jackson
Re/max Associates Of Arlington
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14521599
Last Updated: 02/25/2021
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