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119 Monticello Drive Mansfield, TX 76063

5 Beds 4 Baths 4,591 sqft Built 2007

$449,900

List Price

$3,030

$2.8K - $3.3K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 06, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2007
  • Price/Sqft : $98.00
  • 2 Days on Market
  • MLS # : 14510407
  • Updated Date : 03/06/2021 at 18:00
CONSTRUCTION
  • Beds : 5
  • Floor Size : 4,591 sqft
  • Baths : 4 full
Listing Agent

Jp And Associates Keller

Listing Agent's Description

Exceptional Home adorned in decorator colors and impressive character! Amazing space for the growing family, with massive masters suite & sitting area, & spacious flex-office room down w closet,(great for working at home or guest) 4 extremely spacious BR up, 2 are Jack and Jill,& the open game-room and oversized media room gives everyone their own special space. This wonderful home has gas cooking (great in winter) and gas hot water heaters(2), Chef's delight open & bright kitchen w real knotty pine cabinets, Roof replaced 2020, Within last 2 years- some fresh interior and all exterior paint, oven ,microwave, garbage disposal, kitchen faucet, gas stove top, all carpet upstairs replaced approx 5 yrs, & More!

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: The Villages at Spring Lake

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320kPrice in $123k336k

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

Neighborhood: The Villages at Spring Lake

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2120013001400150016001700180019002000210022002300Rent in $11262344

* 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
Elizabeth Smith Elementary School Primary Regular 706 43 9
Danny Jones Middle School Middle Regular 843 51 9
Mansfield Lake Ridge High School High Unknown 2,085 113 NA

Elizabeth Smith Elementary School

  • Education Level: Primary
  • # of students: 706
  • # of teachers: 43
9
GreatSchools Rating

Danny Jones Middle School

  • Education Level: Middle
  • # of students: 843
  • # of teachers: 51
9
GreatSchools Rating

Mansfield Lake Ridge High School

  • Education Level: High
  • # of students: 2,085
  • # of teachers: 113
NA
GreatSchools Rating
 

$404,910$494,890$449,900

PURCHASE PRICE

$2,727$3,333$3,030

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,030
EXPENSES Loan Payment -$1,563
Property Tax -$1,066
Property Insurance -$292
HOA -$37
Property Management Fees -$99
CASH FLOW
-$27

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.

$449,900

PROJECTED PRICE

$3,030

PROJECTED RENT

0.67%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 6.7%
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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$124,974

INVESTMENT

$124,974

Down Payment
$112,475
Rehab Estimate
$5,750
Closing Costs
$6,749

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,563

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $112,475
Loan Amount $337,425
See What Happens When You Reinvest Cash Flow

3.58

YEARS SAVED

$15,307

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,030

    LIST RENT
  • $0.66

    LIST RENT PER SQFT
  • $3,229

    COMP ESTIMATED VALUE
  • $0.7

    COMP AVG. RENT PER SQFT
Comps Range
$2,925
1$2,9252$3,0303$3,2504$3,500
$3,500
RENT COMPS ANALYSIS
  • 119 Monticello Drive Mansfield, TX 2
    • 5 beds 4 baths ∙ 4,591 Sqft ∙ Built 2007 5 beds 4 baths ∙ 4,591 Sqft ∙ Built 2007
    • Rent
    • Rent Per SQFT
    •  
    • $3,030
    • $0.66
    •  
  • 13 Monticello Court Mansfield, TX 1
    • 5 beds 4 baths ∙ 4,581 Sqft ∙ Built 2002 5 beds 4 baths ∙ 4,581 Sqft ∙ Built 2002
    LEASED 03/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,925
    • $0.64
    •  
  • 3220 Pamplona Grand Prairie, TX 3
    • 4 beds 4 baths ∙ 4,501 Sqft ∙ Built 2010 4 beds 4 baths ∙ 4,501 Sqft ∙ Built 2010
    LEASED 06/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,250
    • $0.72
    •  
  • 4805 Comstock Way Mansfield, TX 4
    • 6 beds 5 baths ∙ 4,666 Sqft ∙ Built 2017 6 beds 5 baths ∙ 4,666 Sqft ∙ Built 2017
    LEASED 11/12/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $0.75
    •  
PROPERTY LISTING DETAILS
Angela Walker
Jp And Associates Keller
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14510407
Last Updated: 03/06/2021
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