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1202 Lake Meadow Drive Mansfield, TX 76063

5 Beds 4 Baths 2,957 sqft Built 2002

$399,999

List Price

$2,450

$2.2K - $2.7K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 14, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2002
  • Price/Sqft : $135.27
  • 1 Days on Market
  • MLS # : 14532131
  • Updated Date : 03/12/2021 at 22:00
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,957 sqft
  • Baths : 3 full , 1 half
Listing Agent

Exp Realty Llc

Listing Agent's Description

Live the country club life in Mansfield's prestigious and sought after Walnut Creek North neighborhood! This lovely neighborhood is directly next to the Walnut Creek Country Club which features pools, tennis courts and two 18 hole golf courses. Just jump on your golf cart and zip over! This home has 5 bedrooms & 3.5 bathrooms. Hardwood floors downstairs. Formal living & dining w crown molding & stunning chandeliers; gorgeous wood floors lead you to the open concept family room w vaulted ceilings & tons of natural light. Entertain friends & family in this large kitchen w bar top seating, an island, granite counters & eat-in breakfast nook. Book your showing appt immediately bec this rare GEM will not last long.

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: Walnut Creek North

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340kPrice in $123k345k

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

Neighborhood: Walnut Creek North

NeighborhoodNIR Market*CityMarket2010Year20002019 Q212001300140015001600170018001900200021002200230024002500Rent in $11262571

* 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
 

$359,999$439,999$399,999

PURCHASE PRICE

$2,205$2,695$2,450

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,450
EXPENSES Loan Payment -$1,389
Property Tax -$948
Property Insurance -$198
HOA -$12
Property Management Fees -$99
CASH FLOW
-$196

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.

$399,999

PROJECTED PRICE

$2,450

PROJECTED RENT

0.61%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 7.0%
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

PROJECTED ANNUAL CASH FLOW

11530-$8.0k-$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$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$111,750

INVESTMENT

$111,750

Down Payment
$100,000
Rehab Estimate
$5,750
Closing Costs
$6,000

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,389

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $100,000
Loan Amount $299,999
See What Happens When You Reinvest Cash Flow

1.67

YEARS SAVED

$4,766

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,450

    LIST RENT
  • $0.83

    LIST RENT PER SQFT
  • $2,447

    COMP ESTIMATED VALUE
  • $0.83

    COMP AVG. RENT PER SQFT
Comps Range
$2,150
1$2,1502$2,2953$2,3754$2,4005$2,450
$2,450
RENT COMPS ANALYSIS
  • 1202 Lake Meadow Drive Mansfield, TX 5
    • 5 beds 4 baths ∙ 2,957 Sqft ∙ Built 2002 5 beds 4 baths ∙ 2,957 Sqft ∙ Built 2002
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $0.83
    •  
  • 212 Misty Mesa Trail Mansfield, TX 1
    • 4 beds 3 baths ∙ 2,845 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,845 Sqft ∙ Built 2003
    LEASED 08/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $0.76
    •  
  • 3006 Flintridge Drive Mansfield, TX 2
    • 5 beds 3 baths ∙ 2,767 Sqft ∙ Built 2000 5 beds 3 baths ∙ 2,767 Sqft ∙ Built 2000
    LEASED 08/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,295
    • $0.83
    •  
  • 1722 Newcastle Drive Mansfield, TX 3
    • 5 beds 4 baths ∙ 2,786 Sqft ∙ Built 1999 5 beds 4 baths ∙ 2,786 Sqft ∙ Built 1999
    LEASED 03/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,375
    • $0.85
    •  
  • 504 Dover Park Trail Mansfield, TX 4
    • 4 beds 3 baths ∙ 2,764 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,764 Sqft ∙ Built 2004
    LEASED 01/27/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $0.87
    •  
PROPERTY LISTING DETAILS
Brandon Yates
Exp Realty Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14532131
Last Updated: 03/12/2021
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