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1004 Tanglewood Drive Mansfield, TX 76063

4 Beds 3 Baths 3,381 sqft Built 2002

$335,900

List Price

$2,400

$2.2K - $2.6K

Rent Est.

PROPERTY INFO

January 02, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2002
  • Price/Sqft : $99.35
  • 2 Days on Market
  • MLS # : 14492275
  • Updated Date : 01/01/2021 at 22:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,381 sqft
  • Baths : 3 full
Listing Agent

Re/max Elite

Listing Agent's Description

Beautiful desired neighborhood in highly sought Mansfield ISD. Spacious corner lot home among the largest lots in the subdivision. Open to souring high ceiling throughout downstairs this home features Living, Din and large family room with fireplace offering great entertaining space. Kitchen features island and an abundance of cabinets. Master and second Bdrm with bath are downstairs perfect for office or in-laws. Master bath features new floating vanity and mirrors with new faucets and flooring. Hugh gameroom and 2 Bdrms upstairs. New carpet and freshly painted throughout in Dec 2020. Water heater also replaced in 2020. Split 3 car garage. Beautiful comm pool and picnic area.

SEE MORE

MARKET HIGHLIGHTS

  • # 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)
  • . Dallas has 7th largest concentration of high-tech jobs in the U.S. (Dallas Chamber)

PRICE & RENT TRENDS

Neighborhood: Tanglewood at Mansfield

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320kPrice in $123k336k

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

Neighborhood: Tanglewood at Mansfield

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21200130014001500160017001800190020002100220023002400Rent in $11262441

* 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
 

$302,310$369,490$335,900

PURCHASE PRICE

$2,160$2,640$2,400

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,400
EXPENSES Loan Payment -$1,239
Property Tax -$796
Property Insurance -$223
HOA -$43
Property Management Fees -$99
CASH FLOW
$0

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.

$335,900

PROJECTED PRICE

$2,400

PROJECTED RENT

0.71%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 5.4%
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-$4.0k-$2.0k$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$200k$400k$600k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$94,764

INVESTMENT

$94,764

Down Payment
$83,975
Rehab Estimate
$5,750
Closing Costs
$5,039

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,239

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $83,975
Loan Amount $251,925
See What Happens When You Reinvest Cash Flow

4.17

YEARS SAVED

$16,112

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,400

    LIST RENT
  • $0.71

    LIST RENT PER SQFT
  • $2,460

    COMP ESTIMATED VALUE
  • $0.73

    COMP AVG. RENT PER SQFT
Comps Range
$2,395
1$2,3952$2,4003$2,4954$2,5755$2,595
$2,595
RENT COMPS ANALYSIS
  • 1004 Tanglewood Drive Mansfield, TX 2
    • 4 beds 3 baths ∙ 3,381 Sqft ∙ Built 2002 4 beds 3 baths ∙ 3,381 Sqft ∙ Built 2002
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $0.71
    •  
  • 1313 Sheffield Drive Mansfield, TX 1
    • 4 beds 3 baths ∙ 3,340 Sqft ∙ Built 2002 4 beds 3 baths ∙ 3,340 Sqft ∙ Built 2002
    LEASED 12/09/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,395
    • $0.72
    •  
  • 2100 Harvest Way Mansfield, TX 3
    • 4 beds 3 baths ∙ 3,410 Sqft ∙ Built 2002 4 beds 3 baths ∙ 3,410 Sqft ∙ Built 2002
    LEASED 01/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,495
    • $0.73
    •  
  • 3220 Essex Drive Mansfield, TX 4
    • 5 beds 4 baths ∙ 3,511 Sqft ∙ Built 1998 5 beds 4 baths ∙ 3,511 Sqft ∙ Built 1998
    LEASED 06/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,575
    • $0.73
    •  
  • 1310 Tanglewood Drive Mansfield, TX 5
    • 4 beds 3 baths ∙ 3,566 Sqft ∙ Built 1999 4 beds 3 baths ∙ 3,566 Sqft ∙ Built 1999
    LEASED 07/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,595
    • $0.73
    •  
PROPERTY LISTING DETAILS
Chris Hightower
Re/max Elite
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14492275
Last Updated: 01/01/2021
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