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1202 Rendon Place Mansfield, TX 76063

4 Beds 4 Baths 3,298 sqft Built 2016

$575,000

List Price

$2,660

$2.4K - $2.9K

Rent Est.

PROPERTY INFO

December 14, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2016
  • Price/Sqft : $174.35
  • 7 Days on Market
  • MLS # : 14484925
  • Updated Date : 12/14/2020 at 19:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,298 sqft
  • Baths : 2 full , 2 half
Listing Agent

Keller Williams Arlington

Listing Agent's Description

Why wait to build when you can buy this phenomenal home that's already has a pool AND outdoor kitchen?! Oversized lot accommodates these features plus green space for the perfect house! Quality John Houston Homes built home, not a detail was overlooked! Volume ceilings, crown molding, tray ceilings, wood floors & so much more add to the WOW factor of this home! Kitchen boasts large island with gorgeous cabinetry topped off with an apron sink! Large eat-in space just off the kitchen opens to the covered back patio! The flexible floorplan offers various uses of each space which is perfect for everyone! You absolutely won't want to miss this rare chance! ***Ask about SPECIAL FINANCING***

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

Zip Code: 76063

ZipNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320kPrice in $123k336k

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

Zip Code: 76063

ZipNIR Market*CityMarket2010Year20002019 Q21200130014001500160017001800190020002100Rent in $11262171

* 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 Orr Intermediate School Primary Regular 845 53 7
Mary Orr Intermediate School Middle Regular 845 53 7
Mansfield Lake Ridge High School High Unknown 2,085 113 NA

Mary Orr Intermediate School

  • Education Level: Primary
  • # of students: 845
  • # of teachers: 53
7
GreatSchools Rating

Mary Orr Intermediate School

  • Education Level: Middle
  • # of students: 845
  • # of teachers: 53
7
GreatSchools Rating

Mansfield Lake Ridge High School

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

$517,500$632,500$575,000

PURCHASE PRICE

$2,394$2,926$2,660

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,660
EXPENSES Loan Payment -$2,122
Property Tax -$1,304
Property Insurance -$218
HOA -$38
Property Management Fees -$99
CASH FLOW
-$1,120

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.

$575,000

PROJECTED PRICE

$2,660

PROJECTED RENT

0.46%

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$1.2M$1.4M$1.6M$1.8M

PROJECTED ANNUAL CASH FLOW

11530-$20k-$15k-$10k-$5.0k$0.0

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M$1.8M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$158,125

INVESTMENT

$158,125

Down Payment
$143,750
Rehab Estimate
$5,750
Closing Costs
$8,625

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 100% down payment or higher enables the proceeds from the asset to cover all costs.

$2,122

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $143,750
Loan Amount $431,250
See What Happens When You Reinvest Cash Flow

-0.17

YEARS SAVED

-$40

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,660

    LIST RENT
  • $0.81

    LIST RENT PER SQFT
  • $2,680

    COMP ESTIMATED VALUE
  • $0.81

    COMP AVG. RENT PER SQFT
Comps Range
$2,575
1$2,5752$2,6603$2,6754$2,8005$2,900
$2,900
RENT COMPS ANALYSIS
  • 1202 Rendon Place Mansfield, TX 2
    • 4 beds 4 baths ∙ 3,298 Sqft ∙ Built 2016 4 beds 4 baths ∙ 3,298 Sqft ∙ Built 2016
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,660
    • $0.81
    •  
  • 4211 Eagle Drive Mansfield, TX 1
    • 5 beds 3 baths ∙ 3,480 Sqft ∙ Built 2012 5 beds 3 baths ∙ 3,480 Sqft ∙ Built 2012
    property image
    LEASED 09/19/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,575
    • $0.74
    •  
  • 3812 Calloway Drive Mansfield, TX 3
    • 4 beds 3 baths ∙ 3,116 Sqft ∙ Built 2003 4 beds 3 baths ∙ 3,116 Sqft ∙ Built 2003
    property image
    LEASED 07/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,675
    • $0.86
    •  
  • 511 Carnation Lane Mansfield, TX 4
    • 5 beds 3 baths ∙ 3,282 Sqft ∙ Built 2011 5 beds 3 baths ∙ 3,282 Sqft ∙ Built 2011
    property image
    LEASED 08/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $0.85
    •  
  • 705 Player Avenue Mansfield, TX 5
    • 5 beds 4 baths ∙ 3,620 Sqft ∙ Built 2010 5 beds 4 baths ∙ 3,620 Sqft ∙ Built 2010
    property image
    LEASED 07/05/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,900
    • $0.80
    •  
PROPERTY LISTING DETAILS
Angela Hornburg
Keller Williams Arlington
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14484925
Last Updated: 12/14/2020
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