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6923 Field Lark Drive Arlington, TX 76002

4 Beds 3 Baths 2,249 sqft Built 1998

$315,000

List Price

$1,840

$1.7K - $2K

Rent Est.

PROPERTY INFO

November 19, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1998
  • Price/Sqft : $140.06
  • 4 Days on Market
  • MLS # : 14471898
  • Updated Date : 11/20/2020 at 17:38
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,249 sqft
  • Baths : 2 full , 1 half
Listing Agent

Keller Williams Arlington

Listing Agent's Description

Immaculate and Move- In Ready Tri Level home with upgrades! Don't miss this 4 bedroom 2.5 Bath quietly nestled in the Meadow Vista estates Subdivision of South Arlington. From the front door this home boasts an abundance of light and an open concept layout allowing many options for entertaining guests. Upgrades include new bamboo flooring, stainless steel appliances, Farmhouse sink, granite countertops, window screens, beautiful stone fireplace, and roof replaced in May of 2020. Walk into your backyard and relax under your covered patio with ample space ready to be enjoyed.

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: Meadow Vista

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $117k336k

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

Neighborhood: Meadow Vista

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800190020002100Rent in $10222171

* 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
 

$283,500$346,500$315,000

PURCHASE PRICE

$1,656$2,024$1,840

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,840
EXPENSES Loan Payment -$1,162
Property Tax -$682
Property Insurance -$157
Property Management Fees -$99
CASH FLOW
-$260

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.

$315,000

PROJECTED PRICE

$1,840

PROJECTED RENT

0.58%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 11.3%
Maintenance Year (1-5) 8.00%
Vacancy 6.93%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

PROJECTED ANNUAL CASH FLOW

11530-$8.0k-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$89,225

INVESTMENT

$89,225

Down Payment
$78,750
Rehab Estimate
$5,750
Closing Costs
$4,725

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$1,162

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $78,750
Loan Amount $236,250
See What Happens When You Reinvest Cash Flow

1.17

YEARS SAVED

$1,969

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,840

    LIST RENT
  • $0.82

    LIST RENT PER SQFT
  • $1,861

    COMP ESTIMATED VALUE
  • $0.83

    COMP AVG. RENT PER SQFT
Comps Range
$1,695
1$1,6952$1,7453$1,7954$1,8405$1,850
$1,850
RENT COMPS ANALYSIS
  • 6923 Field Lark Drive Arlington, TX 4
    • 4 beds 3 baths ∙ 2,249 Sqft ∙ Built 1998 4 beds 3 baths ∙ 2,249 Sqft ∙ Built 1998
    • Rent
    • Rent Per SQFT
    •  
    • $1,840
    • $0.82
    •  
  • 403 Jennifer Lane Arlington, TX 1
    • 4 beds 2 baths ∙ 2,108 Sqft ∙ Built 1995 4 beds 2 baths ∙ 2,108 Sqft ∙ Built 1995
    LEASED 12/02/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.80
    •  
  • 616 White Swan Drive Arlington, TX 2
    • 4 beds 2 baths ∙ 2,128 Sqft ∙ Built 2001 4 beds 2 baths ∙ 2,128 Sqft ∙ Built 2001
    LEASED 05/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,745
    • $0.82
    •  
  • 6720 Tabor Drive Arlington, TX 3
    • 3 beds 2 baths ∙ 2,180 Sqft ∙ Built 1998 3 beds 2 baths ∙ 2,180 Sqft ∙ Built 1998
    LEASED 05/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.82
    •  
  • 6910 Thunderbird Drive Arlington, TX 5
    • 4 beds 2 baths ∙ 2,136 Sqft ∙ Built 2000 4 beds 2 baths ∙ 2,136 Sqft ∙ Built 2000
    LEASED 12/04/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.87
    •  
PROPERTY LISTING DETAILS
Bianca Jamison
Keller Williams Arlington
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14471898
Last Updated: 11/20/2020
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