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1308 Spyglass Drive Mansfield, TX 76063

4 Beds 3 Baths 2,420 sqft Built 1985

$340,000

List Price

$1,920

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

December 02, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1985
  • Price/Sqft : $140.50
  • 5 Days on Market
  • MLS # : 14472384
  • Updated Date : 12/04/2020 at 16:39
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,420 sqft
  • Baths : 2 full , 1 half
Listing Agent

Davey Goosmann Realty

Listing Agent's Description

CHANGING PLANS :ACCEPTING OFFERS UNTIL 6 PM, SUNDAY DECEMBER 6TH. This could be the most perfect home on the market. 4 bdrs, 2.1 baths, Formal dining, formal living, split bedrooms, located in Walnut Creek Valley, close to schools, shopping, and parks, corian counters in kitchen. Original owners, oversized rear entry garage. pool, complete with safety fence, handy storage building with electric, covered patio for additional entertainment area.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • # 1 in the country for job growth in 2017 (2.6% growth, 91,700 new jobs) (US Census, Forbes, 2017)

PRICE & RENT TRENDS

Neighborhood: Walnut Creek Valley

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320kPrice in $123k336k

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

Neighborhood: Walnut Creek Valley

NeighborhoodNIR 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
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
 

$306,000$374,000$340,000

PURCHASE PRICE

$1,728$2,112$1,920

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,920
EXPENSES Loan Payment -$1,254
Property Tax -$806
Property Insurance -$167
Property Management Fees -$99
CASH FLOW
-$406

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.

$340,000

PROJECTED PRICE

$1,920

PROJECTED RENT

0.56%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 7.8%
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-$10k-$8.0k-$6.0k-$4.0k-$2.0k$0.0$2.0k

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$95,850

INVESTMENT

$95,850

Down Payment
$85,000
Rehab Estimate
$5,750
Closing Costs
$5,100

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 75% down payment or higher enables the proceeds from the asset to cover all costs.

$1,254

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $85,000
Loan Amount $255,000
See What Happens When You Reinvest Cash Flow

0.25

YEARS SAVED

$202

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,920

    LIST RENT
  • $0.79

    LIST RENT PER SQFT
  • $1,954

    COMP ESTIMATED VALUE
  • $0.81

    COMP AVG. RENT PER SQFT
Comps Range
$1,875
1$1,8752$1,8953$1,9204$2,0005$2,100
$2,100
RENT COMPS ANALYSIS
  • 1308 Spyglass Drive Mansfield, TX 3
    • 3 beds 2 baths ∙ 2,420 Sqft ∙ Built 1985 3 beds 2 baths ∙ 2,420 Sqft ∙ Built 1985
    • Rent
    • Rent Per SQFT
    •  
    • $1,920
    • $0.79
    •  
  • 1003 Springfield Street Mansfield, TX 1
    • 3 beds 3 baths ∙ 2,461 Sqft ∙ Built 1977 3 beds 3 baths ∙ 2,461 Sqft ∙ Built 1977
    LEASED 12/16/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,875
    • $0.76
    •  
  • 1207 Chapel Hill Drive Mansfield, TX 2
    • 4 beds 3 baths ∙ 2,265 Sqft ∙ Built 1992 4 beds 3 baths ∙ 2,265 Sqft ∙ Built 1992
    LEASED 04/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.84
    •  
  • 1409 Fairhaven Drive Mansfield, TX 4
    • 4 beds 2 baths ∙ 2,457 Sqft ∙ Built 1991 4 beds 2 baths ∙ 2,457 Sqft ∙ Built 1991
    LEASED 02/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.81
    •  
  • 911 Kingston Drive Mansfield, TX 5
    • 3 beds 3 baths ∙ 2,565 Sqft ∙ Built 1984 3 beds 3 baths ∙ 2,565 Sqft ∙ Built 1984
    LEASED 05/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.82
    •  
PROPERTY LISTING DETAILS
Dee Davey
Davey Goosmann Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14472384
Last Updated: 12/04/2020
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