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1219 Stone Creek Drive Mansfield, TX 76063

4 Beds 2 Baths 1,946 sqft Built 1987

$225,000

List Price

$1,820

$1.6K - $2K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 10, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1987
  • Price/Sqft : $115.62
  • 5 Days on Market
  • MLS # : 14530348
  • Updated Date : 03/12/2021 at 10:49
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,946 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Realty

Listing Agent's Description

This property offers a split layout with 4 bed 2 full baths total. Master bed is located downstairs that encompasses a roomy ensuite bath and step in shower while the remaining 3 bedrooms and full bath is located on the second floor. It is located right off of U.S. 287 and within minutes from Legacy HS and much more! Located on a easily accesible corner lot with a lot of natural landscape. This home entails an extra large room great for a game room, second living room, workout room, extra bedroom or anything that you'd desire it to be! The backyard is very spacious and private perfect for hanging out outside or inside of the shed that's in the backyard as well! Call CSS for your showing today! Won't 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: Cardinal Oaks

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280kPrice in $91k290k

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

Neighborhood: Cardinal Oaks

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700180019002000Rent in $9052016

* 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 Jo Sheppard Elementary School Primary Regular 543 36 6
Linda Jobe Middle School Middle Regular 809 53 8
Mansfield Legacy High School High Regular 1,945 103 6

Mary Jo Sheppard Elementary School

  • Education Level: Primary
  • # of students: 543
  • # of teachers: 36
6
GreatSchools Rating

Linda Jobe Middle School

  • Education Level: Middle
  • # of students: 809
  • # of teachers: 53
8
GreatSchools Rating

Mansfield Legacy High School

  • Education Level: High
  • # of students: 1,945
  • # of teachers: 103
6
GreatSchools Rating
 

$202,500$247,500$225,000

PURCHASE PRICE

$1,638$2,002$1,820

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,820
EXPENSES Loan Payment -$782
Property Tax -$540
Property Insurance -$140
Property Management Fees -$99
CASH FLOW
$260

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 14% of earned rent to cover both maintenance and periods of vacancy.

$225,000

PROJECTED PRICE

$1,820

PROJECTED RENT

0.81%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 7.1%
Maintenance Year (1-5) 8.00%
Vacancy 6.39%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k$900k

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$65,375

INVESTMENT

$65,375

Down Payment
$56,250
Rehab Estimate
$5,750
Closing Costs
$3,375

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$782

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $56,250
Loan Amount $168,750
See What Happens When You Reinvest Cash Flow

9.83

YEARS SAVED

$31,686

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,820

    LIST RENT
  • $0.94

    LIST RENT PER SQFT
  • $1,927

    COMP ESTIMATED VALUE
  • $0.99

    COMP AVG. RENT PER SQFT
Comps Range
$1,820
1$1,8202$1,8503$1,8754$1,8955$1,975
$1,975
RENT COMPS ANALYSIS
  • 1219 Stone Creek Drive Mansfield, TX 1
    • 4 beds 2 baths ∙ 1,946 Sqft ∙ Built 1987 4 beds 2 baths ∙ 1,946 Sqft ∙ Built 1987
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,820
    • $0.94
    •  
  • 1314 Maple Terrace Drive Mansfield, TX 2
    • 3 beds 2 baths ∙ 1,893 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,893 Sqft ∙ Built 2004
    property image
    LEASED 08/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.98
    •  
  • 1203 Maple Terrace Drive Mansfield, TX 3
    • 3 beds 2 baths ∙ 1,814 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,814 Sqft ∙ Built 2003
    property image
    LEASED 07/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,875
    • $1.03
    •  
  • 1811 Cozumel Drive Mansfield, TX 4
    • 3 beds 2 baths ∙ 1,916 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,916 Sqft ∙ Built 2002
    property image
    LEASED 07/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.99
    •  
  • 1504 Cancun Drive Mansfield, TX 5
    • 4 beds 2 baths ∙ 2,049 Sqft ∙ Built 2001 4 beds 2 baths ∙ 2,049 Sqft ∙ Built 2001
    property image
    LEASED 02/09/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,975
    • $0.96
    •  
PROPERTY LISTING DETAILS
Bobbie Carrington
Keller Williams Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14530348
Last Updated: 03/12/2021
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