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1403 Genesis Drive Mansfield, TX 76063

5 Beds 4 Baths 3,660 sqft Built 2012

$438,500

List Price

$2,750

$2.5K - $3K

Rent Est.

PROPERTY INFO

November 20, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2012
  • Price/Sqft : $119.81
  • 3 Days on Market
  • MLS # : 14471002
  • Updated Date : 11/20/2020 at 15:00
CONSTRUCTION
  • Beds : 5
  • Floor Size : 3,660 sqft
  • Baths : 3 full , 1 half
Listing Agent

Better Homes & Gardens, Winans

Listing Agent's Description

This home has it all! New Roof March 2020. Beautiful home with a 3 car garage with stained wood garage doors. Enter into this elegant home with wood floors in the office, living room, and dining room. Butlers pantry too! Ceramic tile in the large kitchen with stainless steel appliances, large breakfast area. Nice sized backyard including a large covered patio. Trayed ceilings in master bedroom,dining,and office. Home is wired for speakers. Media room has a bar, sink, and cabinets.

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: Bankston Meadows

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360kPrice in $123k376k

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

Neighborhood: Bankston Meadows

NeighborhoodNIR Market*CityMarket2010Year20002019 Q212001400160018002000220024002600Rent in $11262776

* 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
Cora Spencer Elementary School Primary Regular 739 43 10
Danny Jones Middle School Middle Regular 843 51 9
Mansfield Lake Ridge High School High Unknown 2,085 113 NA

Cora Spencer Elementary School

  • Education Level: Primary
  • # of students: 739
  • # of teachers: 43
10
GreatSchools Rating

Danny Jones Middle School

  • Education Level: Middle
  • # of students: 843
  • # of teachers: 51
9
GreatSchools Rating

Mansfield Lake Ridge High School

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

$394,650$482,350$438,500

PURCHASE PRICE

$2,475$3,025$2,750

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,750
EXPENSES Loan Payment -$1,618
Property Tax -$1,039
Property Insurance -$239
HOA -$38
Property Management Fees -$99
CASH FLOW
-$282

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.

$438,500

PROJECTED PRICE

$2,750

PROJECTED RENT

0.63%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 5.1%
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

PROJECTED ANNUAL CASH FLOW

11530-$10k-$5.0k$0.0$5.0k

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$121,953

INVESTMENT

$121,953

Down Payment
$109,625
Rehab Estimate
$5,750
Closing Costs
$6,578

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$1,618

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $109,625
Loan Amount $328,875
See What Happens When You Reinvest Cash Flow

1.42

YEARS SAVED

$4,299

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,750

    LIST RENT
  • $0.75

    LIST RENT PER SQFT
  • $2,992

    COMP ESTIMATED VALUE
  • $0.82

    COMP AVG. RENT PER SQFT
Comps Range
$2,700
1$2,7002$2,7503$2,8504$2,9505$3,225
$3,225
RENT COMPS ANALYSIS
  • 1403 Genesis Drive Mansfield, TX 2
    • 5 beds 4 baths ∙ 3,660 Sqft ∙ Built 2012 5 beds 4 baths ∙ 3,660 Sqft ∙ Built 2012
    • Rent
    • Rent Per SQFT
    •  
    • $2,750
    • $0.75
    •  
  • 7108 Playa Grand Prairie, TX 1
    • 4 beds 3 baths ∙ 3,371 Sqft ∙ Built 2006 4 beds 3 baths ∙ 3,371 Sqft ∙ Built 2006
    LEASED 08/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $0.80
    •  
  • 2911 Velero Grand Prairie, TX 3
    • 6 beds 3 baths ∙ 3,501 Sqft ∙ Built 2005 6 beds 3 baths ∙ 3,501 Sqft ∙ Built 2005
    LEASED 04/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,850
    • $0.81
    •  
  • 4310 Aston Lane Mansfield, TX 4
    • 4 beds 4 baths ∙ 3,609 Sqft ∙ Built 2005 4 beds 4 baths ∙ 3,609 Sqft ∙ Built 2005
    LEASED 05/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,950
    • $0.82
    •  
  • 2947 Nadar Grand Prairie, TX 5
    • 4 beds 4 baths ∙ 3,850 Sqft ∙ Built 2006 4 beds 4 baths ∙ 3,850 Sqft ∙ Built 2006
    LEASED 08/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,225
    • $0.84
    •  
PROPERTY LISTING DETAILS
Rita Willingham
Better Homes & Gardens, Winans
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14471002
Last Updated: 11/20/2020
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