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1205 Cordova Street Mansfield, TX 76063

4 Beds 4 Baths 3,059 sqft Built 2019

$559,900

List Price

$2,230

$2K - $2.5K

Rent Est.

PROPERTY INFO

January 27, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2019
  • Price/Sqft : $183.03
  • 7 Days on Market
  • MLS # : 14505774
  • Updated Date : 01/30/2021 at 16:45
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,059 sqft
  • Baths : 3 full , 1 half
Listing Agent

United Real Estate

Listing Agent's Description

Beautiful David Weekly home in sought after South Pointe! This is a beautiful two-story floor plan, all brick build with a gorgeous brick and stone elevation! Corner lot home located within walking distance of local swimming pool and park and on site STEM school opening in August 2021! Open floor plan with high ceilings and large windows allow for lots of natural light! Primary bedroom has spa-like on suite bathroom with large tub, stand up shower and large closet! This home also offers an over sized kitchen and family room. The kitchen features stainless steel appliances, granite countertops and under cabinet lighting. Come see this beauty before it's too late!

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

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
Annette Perry Elementary School Primary Regular 342 27 6
Rogene Worley Middle School Middle Regular 929 55 7
Mansfield Lake Ridge High School High Unknown 2,085 113 NA

Annette Perry Elementary School

  • Education Level: Primary
  • # of students: 342
  • # of teachers: 27
6
GreatSchools Rating

Rogene Worley Middle School

  • Education Level: Middle
  • # of students: 929
  • # of teachers: 55
7
GreatSchools Rating

Mansfield Lake Ridge High School

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

$503,910$615,890$559,900

PURCHASE PRICE

$2,007$2,453$2,230

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,230
EXPENSES Loan Payment -$1,945
Property Tax -$1,293
Property Insurance -$204
HOA -$38
Property Management Fees -$99
CASH FLOW
-$1,348

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.

$559,900

PROJECTED PRICE

$2,230

PROJECTED RENT

0.40%

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

PROJECTED ANNUAL CASH FLOW

11530-$25k-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$154,124

INVESTMENT

$154,124

Down Payment
$139,975
Rehab Estimate
$5,750
Closing Costs
$8,399

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,945

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $139,975
Loan Amount $419,925
See What Happens When You Reinvest Cash Flow

-0.33

YEARS SAVED

$1,672

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,230

    LIST RENT
  • $0.73

    LIST RENT PER SQFT
  • $2,585

    COMP ESTIMATED VALUE
  • $0.85

    COMP AVG. RENT PER SQFT
Comps Range
$2,200
1$2,2002$2,2303$2,4954$2,6755$2,800
$2,800
RENT COMPS ANALYSIS
  • 1205 Cordova Street Mansfield, TX 2
    • 4 beds 4 baths ∙ 3,059 Sqft ∙ Built 2019 4 beds 4 baths ∙ 3,059 Sqft ∙ Built 2019
    • Rent
    • Rent Per SQFT
    •  
    • $2,230
    • $0.73
    •  
  • 816 Cutting Horse Drive Mansfield, TX 1
    • 4 beds 3 baths ∙ 2,896 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,896 Sqft ∙ Built 2006
    LEASED 10/28/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.76
    •  
  • 2607 Chambray Lane Mansfield, TX 3
    • 5 beds 3 baths ∙ 2,733 Sqft ∙ Built 2003 5 beds 3 baths ∙ 2,733 Sqft ∙ Built 2003
    LEASED 06/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,495
    • $0.91
    •  
  • 3812 Calloway Drive Mansfield, TX 4
    • 4 beds 3 baths ∙ 3,116 Sqft ∙ Built 2003 4 beds 3 baths ∙ 3,116 Sqft ∙ Built 2003
    LEASED 07/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,675
    • $0.86
    •  
  • 511 Carnation Lane Mansfield, TX 5
    • 5 beds 3 baths ∙ 3,282 Sqft ∙ Built 2011 5 beds 3 baths ∙ 3,282 Sqft ∙ Built 2011
    LEASED 08/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $0.85
    •  
PROPERTY LISTING DETAILS
Mark Ross
United Real Estate
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14505774
Last Updated: 01/30/2021
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