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10 Essex Court Mansfield, TX 76063

3 Beds 2 Baths 2,018 sqft Built 1999

$284,900

List Price

$1,900

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

November 19, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1999
  • Price/Sqft : $141.18
  • 4 Days on Market
  • MLS # : 14469913
  • Updated Date : 11/19/2020 at 18:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,018 sqft
  • Baths : 2 full
Listing Agent

Twenty-two Realty

Listing Agent's Description

ADORABLE 3 BEDROOM HOME W STUDY ON A CUL-DE-SAC LOT BACKING TO A GREEENBELT!If you are searching for privacy this home has it!Location is AMAZING!Has a quiet country feel only minutes from the best shopping & dining in the city!Step inside to see the bright open layout boasting pretty vinyl floors,huge kitchen w tons of cabinets!Pretty stone fireplace is the focal point of the large living area.Good sized bedrooms & closets,tall ceilings & separate utility room are a plus!Enjoy gatherings every season on the MASSIVE covered patio surrounded by beautiful shade trees & ample backyard space!The view of the greenbelt behind your home is a BONUS!AMAZING community offers a pool,playground and walking paths too!HURRY!

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: Oakview Estates

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320kPrice in $123k336k

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

Neighborhood: Oakview Estates

NeighborhoodNIR Market*CityMarket2010Year20002019 Q212001300140015001600170018001900200021002200Rent in $11262243

* 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
Nancy Neal Elementary School Primary Regular 432 30 10
Linda Jobe Middle School Middle Regular 809 53 8
Mansfield Legacy High School High Regular 1,945 103 6

Nancy Neal Elementary School

  • Education Level: Primary
  • # of students: 432
  • # of teachers: 30
10
GreatSchools Rating

Linda Jobe Middle School

  • Education Level: Middle
  • # of students: 809
  • # of teachers: 53
8
GreatSchools Rating

Mansfield Legacy High School

  • Education Level: High
  • # of students: 1,945
  • # of teachers: 103
6
GreatSchools Rating
 

$256,410$313,390$284,900

PURCHASE PRICE

$1,710$2,090$1,900

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,900
EXPENSES Loan Payment -$1,051
Property Tax -$675
Property Insurance -$144
HOA -$49
Property Management Fees -$99
CASH FLOW
-$118

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.

$284,900

PROJECTED PRICE

$1,900

PROJECTED RENT

0.67%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 9.4%
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

PROJECTED ANNUAL CASH FLOW

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

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$81,249

INVESTMENT

$81,249

Down Payment
$71,225
Rehab Estimate
$5,750
Closing Costs
$4,274

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$1,051

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $71,225
Loan Amount $213,675
See What Happens When You Reinvest Cash Flow

2.33

YEARS SAVED

$6,035

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,900

    LIST RENT
  • $0.94

    LIST RENT PER SQFT
  • $1,927

    COMP ESTIMATED VALUE
  • $0.95

    COMP AVG. RENT PER SQFT
Comps Range
$1,900
1$1,9002$1,9003$1,9004$1,9955$2,000
$2,000
RENT COMPS ANALYSIS
  • 10 Essex Court Mansfield, TX 3
    • 3 beds 2 baths ∙ 2,018 Sqft ∙ Built 1999 3 beds 2 baths ∙ 2,018 Sqft ∙ Built 1999
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.94
    •  
  • 405 Rock Meadow Trail Mansfield, TX 1
    • 3 beds 2 baths ∙ 2,021 Sqft ∙ Built 2003 3 beds 2 baths ∙ 2,021 Sqft ∙ Built 2003
    LEASED 03/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.94
    •  
  • 300 Misty Mesa Trail Mansfield, TX 2
    • 4 beds 2 baths ∙ 2,002 Sqft ∙ Built 2003 4 beds 2 baths ∙ 2,002 Sqft ∙ Built 2003
    LEASED 05/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.95
    •  
  • 7211 Garden Green Drive Arlington, TX 4
    • 4 beds 3 baths ∙ 2,065 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,065 Sqft ∙ Built 2004
    LEASED 01/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.97
    •  
  • 86 Misty Mesa Trail Mansfield, TX 5
    • 3 beds 2 baths ∙ 2,078 Sqft ∙ Built 2005 3 beds 2 baths ∙ 2,078 Sqft ∙ Built 2005
    LEASED 01/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.96
    •  
PROPERTY LISTING DETAILS
Lanae Humbles
Twenty-two Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14469913
Last Updated: 11/19/2020
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