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1410 Quincy Drive Mansfield, TX 76063

4 Beds 3 Baths 2,260 sqft Built 2021

$370,990

List Price

$2,090

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

Built 2021 NEW CONSTRUCTION
November 09, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2021
  • Price/Sqft : $164.15
  • 7 Days on Market
  • MLS # : 14468080
  • Updated Date : 11/09/2020 at 14:59
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,260 sqft
  • Baths : 3 full
Listing Agent

Classic Property Management

Listing Agent's Description

Beautiful One-Story built by Bloomfield Homes, Brand New and Move-In Ready March 2021! Stone & Brick Exterior with a Swing 2-car Garage, sitting on an Interior Cul-de-Sac lot. Durable and attractive Wood-look Tile flooring throughout. Deluxe Kitchen complete with SS Appliances, Granite Countertops, Gas Cooktop, and plenty of storage. Open to Family room and dining area. Stone Fireplace in Family Room. Blinds included. Laundry room with storage. Enjoy your outdoor space - Covered Front Porch, Covered Back Patio with Sliding Glass Door access, Fully Fenced, Landscaped, and Sprinkler System included. Call today to learn more about this special home!

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
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
 

$333,891$408,089$370,990

PURCHASE PRICE

$1,881$2,299$2,090

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,090
EXPENSES Loan Payment -$1,369
Property Tax -$842
Property Insurance -$158
HOA -$13
Property Management Fees -$99
CASH FLOW
-$390

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 10% of earned rent to cover both maintenance and periods of vacancy.

$370,990

PROJECTED PRICE

$2,090

PROJECTED RENT

0.56%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 7.1%
Maintenance Year (1-5) 3.00%
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-$8.0k-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k

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$100,312

INVESTMENT

$100,312

Down Payment
$92,748
Rehab Estimate
$2,000
Closing Costs
$5,565

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,369

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $92,748
Loan Amount $278,243
See What Happens When You Reinvest Cash Flow

0.42

YEARS SAVED

$644

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,090

    LIST RENT
  • $0.92

    LIST RENT PER SQFT
  • $2,062

    COMP ESTIMATED VALUE
  • $0.91

    COMP AVG. RENT PER SQFT
Comps Range
$1,725
1$1,7252$1,8503$1,8504$1,9005$2,090
$2,090
RENT COMPS ANALYSIS
  • 1410 Quincy Drive Mansfield, TX 5
    • 4 beds 3 baths ∙ 2,260 Sqft ∙ Built 2021 4 beds 3 baths ∙ 2,260 Sqft ∙ Built 2021
    • Rent
    • Rent Per SQFT
    •  
    • $2,090
    • $0.92
    •  
  • 1012 Remington Ranch Road Mansfield, TX 1
    • 4 beds 2 baths ∙ 1,993 Sqft ∙ Built 2003 4 beds 2 baths ∙ 1,993 Sqft ∙ Built 2003
    LEASED 10/16/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,725
    • $0.87
    •  
  • 1024 Cutting Horse Drive Mansfield, TX 2
    • 4 beds 2 baths ∙ 1,993 Sqft ∙ Built 2003 4 beds 2 baths ∙ 1,993 Sqft ∙ Built 2003
    LEASED 07/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.93
    •  
  • 813 Cutting Horse Drive Mansfield, TX 3
    • 4 beds 2 baths ∙ 2,040 Sqft ∙ Built 2006 4 beds 2 baths ∙ 2,040 Sqft ∙ Built 2006
    LEASED 10/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.91
    •  
  • 1206 Concho Trail Mansfield, TX 4
    • 4 beds 2 baths ∙ 2,013 Sqft ∙ Built 2005 4 beds 2 baths ∙ 2,013 Sqft ∙ Built 2005
    LEASED 10/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.94
    •  
PROPERTY LISTING DETAILS
Marsha Ashlock
Classic Property Management
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14468080
Last Updated: 11/09/2020
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