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1005 Muirfield Drive Mansfield, TX 76063

4 Beds 4 Baths 2,928 sqft Built 1996

$360,000

List Price

$2,330

$2.1K - $2.6K

Rent Est.

PROPERTY INFO

October 31, 2020 RECENTLY ADDED
FACTS
  • Built In 1996
  • Price/Sqft : $122.95
  • 4 Days on Market
  • MLS # : 14463211
  • Updated Date : 10/31/2020 at 08:58
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,928 sqft
  • Baths : 3 full , 1 half
Listing Agent

Mark Cabal Realty

Listing Agent's Description

You will love this FANTASTIC Perry built home in Village of Walnut Creek addition AND in highly desired Mansfield High School Attendance zone!!! Wonderful floor plan has open kitchen-to-living room area, large first floor split master living suite, 2 additional living areas for office-game room or media room, soaring vaulted ceilings, custom built in's- and MORE!!! Enjoy updated lighting, oil rubbed bronze fixtures, stainless steel appliances AND never lived upon carpet!!! Great location within walking or golf cart ride to Walnut Creek County club and just minutes to major shopping areas, restaurants, Highway 287 and 360 Toll Road!!!

SEE MORE

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: Village at Walnut Creek

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360k380kPrice in $123k397k

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

Neighborhood: Village at Walnut Creek

NeighborhoodNIR Market*CityMarket2010Year20002019 Q212001400160018002000220024002600Rent in $11262673

* 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
J.l. Boren Elementary School Primary Regular 567 36 8
Brooks Wester Middle School Middle Regular 872 51 8
Mansfield High School High Regular 2,333 123 8

J.l. Boren Elementary School

  • Education Level: Primary
  • # of students: 567
  • # of teachers: 36
8
GreatSchools Rating

Brooks Wester Middle School

  • Education Level: Middle
  • # of students: 872
  • # of teachers: 51
8
GreatSchools Rating

Mansfield High School

  • Education Level: High
  • # of students: 2,333
  • # of teachers: 123
8
GreatSchools Rating
 

$324,000$396,000$360,000

PURCHASE PRICE

$2,097$2,563$2,330

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,330
EXPENSES Loan Payment -$1,328
Property Tax -$853
Property Insurance -$196
HOA -$6
Property Management Fees -$99
CASH FLOW
-$153

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.

$360,000

PROJECTED PRICE

$2,330

PROJECTED RENT

0.65%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 7.1%
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$10k

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$101,150

INVESTMENT

$101,150

Down Payment
$90,000
Rehab Estimate
$5,750
Closing Costs
$5,400

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,328

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $90,000
Loan Amount $270,000
See What Happens When You Reinvest Cash Flow

2.33

YEARS SAVED

$7,492

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,330

    LIST RENT
  • $0.8

    LIST RENT PER SQFT
  • $2,328

    COMP ESTIMATED VALUE
  • $0.79

    COMP AVG. RENT PER SQFT
Comps Range
$2,095
1$2,0952$2,0953$2,2004$2,2755$2,330
$2,330
RENT COMPS ANALYSIS
  • 1005 Muirfield Drive Mansfield, TX 5
    • 4 beds 4 baths ∙ 2,928 Sqft ∙ Built 1996 4 beds 4 baths ∙ 2,928 Sqft ∙ Built 1996
    • Rent
    • Rent Per SQFT
    •  
    • $2,330
    • $0.80
    •  
  • 1408 Oxford Drive Mansfield, TX 1
    • 5 beds 3 baths ∙ 2,628 Sqft ∙ Built 1998 5 beds 3 baths ∙ 2,628 Sqft ∙ Built 1998
    LEASED 02/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,095
    • $0.80
    •  
  • 1430 New Haven Drive Mansfield, TX 2
    • 4 beds 3 baths ∙ 2,741 Sqft ∙ Built 1990 4 beds 3 baths ∙ 2,741 Sqft ∙ Built 1990
    LEASED 04/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,095
    • $0.76
    •  
  • 1100 Province Lane Mansfield, TX 3
    • 4 beds 2 baths ∙ 2,643 Sqft ∙ Built 1977 4 beds 2 baths ∙ 2,643 Sqft ∙ Built 1977
    LEASED 08/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.83
    •  
  • 921 Kingston Drive Mansfield, TX 4
    • 4 beds 3 baths ∙ 2,896 Sqft ∙ Built 1983 4 beds 3 baths ∙ 2,896 Sqft ∙ Built 1983
    LEASED 01/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,275
    • $0.79
    •  
PROPERTY LISTING DETAILS
Mark Cabal
Mark Cabal Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14463211
Last Updated: 10/31/2020
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