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6615 Sandgate Drive Arlington, TX 76002

4 Beds 2 Baths 2,040 sqft Built 2001

$265,000

List Price

$1,800

$1.6K - $2K

Rent Est.

PROPERTY INFO

November 19, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2001
  • Price/Sqft : $129.90
  • 4 Days on Market
  • MLS # : 14457570
  • Updated Date : 11/19/2020 at 18:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,040 sqft
  • Baths : 2 full
Listing Agent

League Real Estate

Listing Agent's Description

Freshly updated 4 bedroom, 2 bath charmer in the heart of Arlington. This adorable home features a nice open floorplan with 2 living areas and large kitchen and dining for a great flow. Oversized master bedroom with split bedroom floorplan makes for the perfect set up! Located with easy access to Highway 360 or IH-20 and close to retail, restaurants and schools!

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: Lynn Creek Village

NeighborhoodNIR Market*CityMarket2010Year20002019120k130k140k150k160k170k180k190k200k210k220k230k240kPrice in $117k243k

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

Neighborhood: Lynn Creek Village

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21100120013001400150016001700Rent in $10221791

* 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
Pearcy Elementary School Primary Regular 483 33 9
Pearcy Elementary School Middle Regular 483 33 9
Seguin High School High Regular 1,653 114 5

Pearcy Elementary School

  • Education Level: Primary
  • # of students: 483
  • # of teachers: 33
9
GreatSchools Rating

Pearcy Elementary School

  • Education Level: Middle
  • # of students: 483
  • # of teachers: 33
9
GreatSchools Rating

Seguin High School

  • Education Level: High
  • # of students: 1,653
  • # of teachers: 114
5
GreatSchools Rating
 

$238,500$291,500$265,000

PURCHASE PRICE

$1,620$1,980$1,800

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,800
EXPENSES Loan Payment -$978
Property Tax -$574
Property Insurance -$145
HOA -$33
Property Management Fees -$99
CASH FLOW
-$29

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 14% of earned rent to cover both maintenance and periods of vacancy.

$265,000

PROJECTED PRICE

$1,800

PROJECTED RENT

0.68%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 10.2%
Maintenance Year (1-5) 8.00%
Vacancy 6.39%
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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$75,975

INVESTMENT

$75,975

Down Payment
$66,250
Rehab Estimate
$5,750
Closing Costs
$3,975

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$978

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $66,250
Loan Amount $198,750
See What Happens When You Reinvest Cash Flow

3.92

YEARS SAVED

$11,624

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,800

    LIST RENT
  • $0.88

    LIST RENT PER SQFT
  • $1,795

    COMP ESTIMATED VALUE
  • $0.88

    COMP AVG. RENT PER SQFT
Comps Range
$1,600
1$1,6002$1,7253$1,8004$1,8505$1,950
$1,950
RENT COMPS ANALYSIS
  • 6615 Sandgate Drive Arlington, TX 3
    • 4 beds 2 baths ∙ 2,040 Sqft ∙ Built 2001 4 beds 2 baths ∙ 2,040 Sqft ∙ Built 2001
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.88
    •  
  • 1003 Eastwick Drive Arlington, TX 1
    • 3 beds 2 baths ∙ 1,896 Sqft ∙ Built 2000 3 beds 2 baths ∙ 1,896 Sqft ∙ Built 2000
    LEASED 03/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.84
    •  
  • 6704 Hillgreen Drive Arlington, TX 2
    • 4 beds 2 baths ∙ 2,023 Sqft ∙ Built 2002 4 beds 2 baths ∙ 2,023 Sqft ∙ Built 2002
    LEASED 03/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,725
    • $0.85
    •  
  • 6517 Watch Hill Court Arlington, TX 4
    • 3 beds 3 baths ∙ 2,156 Sqft ∙ Built 2001 3 beds 3 baths ∙ 2,156 Sqft ∙ Built 2001
    LEASED 07/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.86
    •  
  • 6715 Kinross Drive Arlington, TX 5
    • 4 beds 2 baths ∙ 2,012 Sqft ∙ Built 2002 4 beds 2 baths ∙ 2,012 Sqft ∙ Built 2002
    LEASED 11/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.97
    •  
PROPERTY LISTING DETAILS
Sara Drehobl
League Real Estate
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14457570
Last Updated: 11/19/2020
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