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107 Millington Trail Mansfield, TX 76063

3 Beds 3 Baths 2,271 sqft Built 2002

$285,000

List Price

$1,920

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

October 29, 2020 RECENTLY ADDED
FACTS
  • Built In 2002
  • Price/Sqft : $125.50
  • 6 Days on Market
  • MLS # : 14461242
  • Updated Date : 10/29/2020 at 18:54
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,271 sqft
  • Baths : 3 full
Listing Agent

Huggins Realty

Listing Agent's Description

Complete update to this one of a kind home! A large living room greets you when you first enter this home. This area is large enough for a living and dining area or game area. This house was converted into a multigenerational 3 bed 3 bath home. The spacious master is a perfect retreat after a hard day, and has an en-suite with large closet. The second bedroom has an en-suite as well with a tile shower and 2 closets. The kitchen with granite countertops opens into the family room and eating area, with a large counter area for quick meals or perfect for a serving area for guests! The backyard has an 8' board on board fence for privacy. Flooring was installed October 2020. There is no carpet in this house!

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: Willowstone Estates at Mansfield

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320kPrice in $123k336k

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

Neighborhood: Willowstone Estates at Mansfield

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21200130014001500160017001800190020002100Rent in $11262176

* 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
Roberta Tipps Elementary School Primary Regular 666 42 8
Brooks Wester Middle School Middle Regular 872 51 8
Mansfield High School High Regular 2,333 123 8

Roberta Tipps Elementary School

  • Education Level: Primary
  • # of students: 666
  • # of teachers: 42
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
 

$256,500$313,500$285,000

PURCHASE PRICE

$1,728$2,112$1,920

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,920
EXPENSES Loan Payment -$1,052
Property Tax -$676
Property Insurance -$158
HOA -$30
Property Management Fees -$99
CASH FLOW
-$94

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.

$285,000

PROJECTED PRICE

$1,920

PROJECTED RENT

0.67%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 10.1%
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

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$81,275

INVESTMENT

$81,275

Down Payment
$71,250
Rehab Estimate
$5,750
Closing Costs
$4,275

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,052

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $71,250
Loan Amount $213,750
See What Happens When You Reinvest Cash Flow

2.67

YEARS SAVED

$7,471

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,920

    LIST RENT
  • $0.85

    LIST RENT PER SQFT
  • $2,106

    COMP ESTIMATED VALUE
  • $0.93

    COMP AVG. RENT PER SQFT
Comps Range
$1,920
1$1,9202$1,9953$2,0004$2,1005$2,100
$2,100
RENT COMPS ANALYSIS
  • 107 Millington Trail Mansfield, TX 1
    • 3 beds 3 baths ∙ 2,271 Sqft ∙ Built 2002 3 beds 3 baths ∙ 2,271 Sqft ∙ Built 2002
    • Rent
    • Rent Per SQFT
    •  
    • $1,920
    • $0.85
    •  
  • 632 Manchester Drive Mansfield, TX 2
    • 4 beds 2 baths ∙ 2,255 Sqft ∙ Built 2002 4 beds 2 baths ∙ 2,255 Sqft ∙ Built 2002
    LEASED 12/02/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.88
    •  
  • 86 Misty Mesa Trail Mansfield, TX 3
    • 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
    •  
  • 407 Canadian Trail Mansfield, TX 4
    • 4 beds 3 baths ∙ 2,236 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,236 Sqft ∙ Built 2004
    LEASED 10/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.94
    •  
  • 622 Manchester Drive Mansfield, TX 5
    • 4 beds 3 baths ∙ 2,268 Sqft ∙ Built 2001 4 beds 3 baths ∙ 2,268 Sqft ∙ Built 2001
    LEASED 09/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.93
    •  
PROPERTY LISTING DETAILS
Bonnie Lloyd
Huggins Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14461242
Last Updated: 10/29/2020
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