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1005 Killian Drive Mansfield, TX 76063

5 Beds 4 Baths 4,227 sqft Built 2007

$479,900

List Price

$3,160

$2.9K - $3.4K

Rent Est.

PROPERTY INFO

November 19, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2007
  • Price/Sqft : $113.53
  • 4 Days on Market
  • MLS # : 14472196
  • Updated Date : 11/19/2020 at 16:00
CONSTRUCTION
  • Beds : 5
  • Floor Size : 4,227 sqft
  • Baths : 4 full
Listing Agent

Offerpad Brokerage, Llc

Listing Agent's Description

An immaculately maintained 5 bed, 4 bath home in a gorgeous Mansfield neighborhood. This luxurious 2 story home features multiple living areas, downstairs master suite with large walk-in shower and jacuzzi tub, second downstairs bedroom with private bath, remodeled kitchen in 2018 with professionally refinished cabinets and new granite counter tops, a new 50 year roof and compete gutter system in 2019, new HVAC systems and smart thermostats in 2017, plus so much more. Enjoy outdoor living at it's finest with extensively landscaped yard featuring a firepit, stone walkways, extended patio, a sports court, and all of it overlooks a gorgeous greenbelt. See MLS documents for additional upgrades and features list.

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: Woodland Estates

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360kPrice in $123k378k

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

Neighborhood: Woodland Estates

NeighborhoodNIR Market*CityMarket2010Year20002019 Q212001400160018002000220024002600Rent in $11262604

* 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
 

$431,910$527,890$479,900

PURCHASE PRICE

$2,844$3,476$3,160

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,160
EXPENSES Loan Payment -$1,771
Property Tax -$1,138
Property Insurance -$271
HOA -$16
Property Management Fees -$99
CASH FLOW
-$134

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.

$479,900

PROJECTED PRICE

$3,160

PROJECTED RENT

0.66%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 6.6%
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$1.4M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$132,924

INVESTMENT

$132,924

Down Payment
$119,975
Rehab Estimate
$5,750
Closing Costs
$7,199

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,771

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $119,975
Loan Amount $359,925
See What Happens When You Reinvest Cash Flow

3

YEARS SAVED

$13,962

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,160

    LIST RENT
  • $0.75

    LIST RENT PER SQFT
  • $3,227

    COMP ESTIMATED VALUE
  • $0.76

    COMP AVG. RENT PER SQFT
Comps Range
$2,495
1$2,4952$2,9953$3,1604$3,750
$3,750
RENT COMPS ANALYSIS
  • 1005 Killian Drive Mansfield, TX 3
    • 5 beds 4 baths ∙ 4,227 Sqft ∙ Built 2007 5 beds 4 baths ∙ 4,227 Sqft ∙ Built 2007
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $3,160
    • $0.75
    •  
  • 2910 Saint Vincent Drive Mansfield, TX 1
    • 6 beds 4 baths ∙ 3,938 Sqft ∙ Built 2002 6 beds 4 baths ∙ 3,938 Sqft ∙ Built 2002
    property image
    LEASED 11/18/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,495
    • $0.63
    •  
  • 206 Cabotwood Trail Mansfield, TX 2
    • 6 beds 4 baths ∙ 3,881 Sqft ∙ Built 2004 6 beds 4 baths ∙ 3,881 Sqft ∙ Built 2004
    property image
    LEASED 06/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,995
    • $0.77
    •  
  • 828 Rio Grande Drive Mansfield, TX 4
    • 5 beds 5 baths ∙ 4,198 Sqft ∙ Built 2009 5 beds 5 baths ∙ 4,198 Sqft ∙ Built 2009
    property image
    LEASED 01/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,750
    • $0.89
    •  
PROPERTY LISTING DETAILS
Ben Garcia
Offerpad Brokerage, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14472196
Last Updated: 11/19/2020
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