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1201 Westridge Drive Mansfield, TX 76063

5 Beds 4 Baths 3,615 sqft Built 2003

$394,000

List Price

$2,800

$2.6K - $3.1K

Rent Est.

PROPERTY INFO

December 18, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2003
  • Price/Sqft : $108.99
  • 3 Days on Market
  • MLS # : 14488392
  • Updated Date : 12/18/2020 at 18:00
CONSTRUCTION
  • Beds : 5
  • Floor Size : 3,615 sqft
  • Baths : 3 full , 1 half
Listing Agent

Go Flat Fee

Listing Agent's Description

Immaculate home shows like a model on cul-de-sac in established community featuring pool & park on same street. Beautiful eat-in kitchen with cherry cabinets, stainless steel appliances & Corian counters overlooks the large family room with built-in niches, soaring ceilings & stacked windows providing lots of natural light. Private master bedroom downstairs includes dual sinks, separate tub & shower & roomy walk-in closet. Four additional bedrooms, 2 baths & expansive game room upstairs. Large backyard is GREAT for entertaining with open brick patio, beautifully manicured tiff sport Bermuda grass & surrounded by lovely 8ft stained wood fence. New roof in 2020. New HVACs in 2018. Come see your next home today!

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: Lowes Farm

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320kPrice in $123k336k

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

Neighborhood: Lowes Farm

NeighborhoodNIR Market*CityMarket2010Year20002019 Q212001300140015001600170018001900200021002200230024002500Rent in $11262506

* 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
Mary Lillard Intermediate School Primary Regular 945 53 8
Danny Jones Middle School Middle Regular 843 51 9
Mansfield Lake Ridge High School High Unknown 2,085 113 NA

Mary Lillard Intermediate School

  • Education Level: Primary
  • # of students: 945
  • # of teachers: 53
8
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
 

$354,600$433,400$394,000

PURCHASE PRICE

$2,520$3,080$2,800

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,800
EXPENSES Loan Payment -$1,454
Property Tax -$934
Property Insurance -$236
HOA -$44
Property Management Fees -$99
CASH FLOW
$34

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.

$394,000

PROJECTED PRICE

$2,800

PROJECTED RENT

0.71%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 4.5%
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-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$110,160

INVESTMENT

$110,160

Down Payment
$98,500
Rehab Estimate
$5,750
Closing Costs
$5,910

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,454

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $98,500
Loan Amount $295,500
See What Happens When You Reinvest Cash Flow

4.58

YEARS SAVED

$21,988

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,800

    LIST RENT
  • $0.77

    LIST RENT PER SQFT
  • $2,973

    COMP ESTIMATED VALUE
  • $0.82

    COMP AVG. RENT PER SQFT
Comps Range
$2,595
1$2,5952$2,8003$2,9504$3,1505$3,225
$3,225
RENT COMPS ANALYSIS
  • 1201 Westridge Drive Mansfield, TX 2
    • 5 beds 4 baths ∙ 3,615 Sqft ∙ Built 2003 5 beds 4 baths ∙ 3,615 Sqft ∙ Built 2003
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $0.77
    •  
  • 3 Saddlewood Court Mansfield, TX 1
    • 5 beds 3 baths ∙ 3,298 Sqft ∙ Built 2003 5 beds 3 baths ∙ 3,298 Sqft ∙ Built 2003
    property image
    LEASED 10/18/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,595
    • $0.79
    •  
  • 4310 Aston Lane Mansfield, TX 3
    • 4 beds 4 baths ∙ 3,609 Sqft ∙ Built 2005 4 beds 4 baths ∙ 3,609 Sqft ∙ Built 2005
    property image
    LEASED 05/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,950
    • $0.82
    •  
  • 10 Pinedale Court Mansfield, TX 4
    • 6 beds 4 baths ∙ 3,765 Sqft ∙ Built 2003 6 beds 4 baths ∙ 3,765 Sqft ∙ Built 2003
    property image
    LEASED 11/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,150
    • $0.84
    •  
  • 2947 Nadar Grand Prairie, TX 5
    • 4 beds 4 baths ∙ 3,850 Sqft ∙ Built 2006 4 beds 4 baths ∙ 3,850 Sqft ∙ Built 2006
    property image
    LEASED 08/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,225
    • $0.84
    •  
PROPERTY LISTING DETAILS
Wayne Barnes
Go Flat Fee
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14488392
Last Updated: 12/18/2020
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