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6702 Saddle Ridge Road Arlington, TX 76016

3 Beds 2 Baths 2,201 sqft Built 1984

$250,000

List Price

$1,910

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

November 05, 2020 RECENTLY ADDED
FACTS
  • Built In 1984
  • Price/Sqft : $113.58
  • 4 Days on Market
  • MLS # : 14457992
  • Updated Date : 11/05/2020 at 19:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,201 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Arlington

Listing Agent's Description

Opportunity is knocking. Sitting pretty on a wooded lot within walking distance to Lake Arlington, this home is ready for your personal stamp. Boasting of an expansive design with a contemporary flair, the huge great room is the centerpiece of this home, and is accented by a large central fireplace. In step with today's changing lifestyle, if you need a home school or office, there are multiple options for you to use. The primary bedroom is nicely separated for privacy. Take the party outside under the large covered patio or under the cover of a canopy of native trees. This home is being sold AS IS. There is tons of potential here.

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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: West Arlington

NeighborhoodNIR Market*CityMarket2010Year20002019120k130k140k150k160k170k180k190k200k210k220k230k240kPrice in $117k243k

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

Neighborhood: West Arlington

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700Rent in $10001734

* 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
Miller Elementary School Primary Regular 769 47 3
Young Junior High School Middle Regular 792 53 7
Martin High School High Regular 3,361 199 7

Miller Elementary School

  • Education Level: Primary
  • # of students: 769
  • # of teachers: 47
3
GreatSchools Rating

Young Junior High School

  • Education Level: Middle
  • # of students: 792
  • # of teachers: 53
7
GreatSchools Rating

Martin High School

  • Education Level: High
  • # of students: 3,361
  • # of teachers: 199
7
GreatSchools Rating
 

$225,000$275,000$250,000

PURCHASE PRICE

$1,719$2,101$1,910

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,910
EXPENSES Loan Payment -$922
Property Tax -$552
Property Insurance -$154
Property Management Fees -$99
CASH FLOW
$183

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.

$250,000

PROJECTED PRICE

$1,910

PROJECTED RENT

0.76%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 9.2%
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$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$72,000

INVESTMENT

$72,000

Down Payment
$62,500
Rehab Estimate
$5,750
Closing Costs
$3,750

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$922

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $62,500
Loan Amount $187,500
See What Happens When You Reinvest Cash Flow

8.17

YEARS SAVED

$30,979

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,910

    LIST RENT
  • $0.87

    LIST RENT PER SQFT
  • $2,008

    COMP ESTIMATED VALUE
  • $0.91

    COMP AVG. RENT PER SQFT
Comps Range
$1,795
1$1,7952$1,8003$1,8454$1,8955$1,910
$1,910
RENT COMPS ANALYSIS
  • 6702 Saddle Ridge Road Arlington, TX 5
    • 3 beds 2 baths ∙ 2,201 Sqft ∙ Built 1984 3 beds 2 baths ∙ 2,201 Sqft ∙ Built 1984
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,910
    • $0.87
    •  
  • 7012 Escondido Drive Arlington, TX 1
    • 4 beds 2 baths ∙ 2,029 Sqft ∙ Built 1987 4 beds 2 baths ∙ 2,029 Sqft ∙ Built 1987
    property image
    LEASED 09/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.88
    •  
  • 6612 Saddle Ridge Road Arlington, TX 2
    • 3 beds 2 baths ∙ 1,929 Sqft ∙ Built 1984 3 beds 2 baths ∙ 1,929 Sqft ∙ Built 1984
    property image
    LEASED 06/18/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.93
    •  
  • 6607 Forestview Drive Arlington, TX 3
    • 4 beds 2 baths ∙ 2,059 Sqft ∙ Built 1979 4 beds 2 baths ∙ 2,059 Sqft ∙ Built 1979
    property image
    LEASED 06/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,845
    • $0.90
    •  
  • 4208 Crossgate Court Arlington, TX 4
    • 3 beds 2 baths ∙ 2,010 Sqft ∙ Built 1997 3 beds 2 baths ∙ 2,010 Sqft ∙ Built 1997
    property image
    LEASED 11/16/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.94
    •  
PROPERTY LISTING DETAILS
Holly Koester
Keller Williams Arlington
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14457992
Last Updated: 11/05/2020
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