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1500 Mallard Circle Mansfield, TX 76063

3 Beds 4 Baths 2,736 sqft Built 2002

$375,000

List Price

$2,180

$2K - $2.4K

Rent Est.

PROPERTY INFO

December 29, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2002
  • Price/Sqft : $137.06
  • 6 Days on Market
  • MLS # : 14486655
  • Updated Date : 12/30/2020 at 09:41
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,736 sqft
  • Baths : 2 full , 2 half
Listing Agent

Century 21 Judge Fite Company

Listing Agent's Description

THIS GORGEOUS METICULOUSLY MAINTAINED FAMILY HOME HAS A GREAT OPEN FLOOR PLAN AND IS LOCATED IN MANSFIELD ISD! LIVING AREA FEATURES HIGH CEILINGS, NEUTRAL PAINT COLORS, CROWN MOLDING, AND A STONE FLOOR TO CEILING FIREPLACE. BEAUTIFUL ISLAND KITCHEN INCLUDES GRANITE COUNTERTOPS, STAINLESS STEEL APPLIANCES, MULTITUDE OF CABINET AND COUNTER SPACE, BREAKFAST BAR, PANTRY AND LARGE FARM SINK. THIS STUNNING MASTER BEDROOM IS SPACIOUS WITH A SITTING AREA, GARDEN TUB, SEPARATE SHOWER, DUAL SINKS AND WALK-IN CLOSETS. UPSTAIRS FEATURES AN OVERSIZED BONUS ROOM AS WELL AS A HALF BATH GREAT FOR MULTI PURPOSE. THE BACKYARD IS PERFECT FOR ENTERTAINING FAMILY AND FRIENDS. EASY ACCESS TO SCHOOLS, PARKS, SHOPPING AND MAJOR HWYS.

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MARKET HIGHLIGHTS

  • # 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)
  • . Dallas has 7th largest concentration of high-tech jobs in the U.S. (Dallas Chamber)

PRICE & RENT TRENDS

Neighborhood: Walnut Creek North

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340kPrice in $123k345k

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

Neighborhood: Walnut Creek North

NeighborhoodNIR Market*CityMarket2010Year20002019 Q212001300140015001600170018001900200021002200230024002500Rent in $11262571

* 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
 

$337,500$412,500$375,000

PURCHASE PRICE

$1,962$2,398$2,180

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,180
EXPENSES Loan Payment -$1,384
Property Tax -$889
Property Insurance -$185
HOA -$12
Property Management Fees -$99
CASH FLOW
-$388

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.

$375,000

PROJECTED PRICE

$2,180

PROJECTED RENT

0.58%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 7.0%
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$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$105,125

INVESTMENT

$105,125

Down Payment
$93,750
Rehab Estimate
$5,750
Closing Costs
$5,625

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,384

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $93,750
Loan Amount $281,250
See What Happens When You Reinvest Cash Flow

0.42

YEARS SAVED

$633

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,180

    LIST RENT
  • $0.8

    LIST RENT PER SQFT
  • $2,202

    COMP ESTIMATED VALUE
  • $0.81

    COMP AVG. RENT PER SQFT
Comps Range
$2,095
1$2,0952$2,0953$2,1004$2,1755$2,180
$2,180
RENT COMPS ANALYSIS
  • 1500 Mallard Circle Mansfield, TX 5
    • 3 beds 4 baths ∙ 2,736 Sqft ∙ Built 2002 3 beds 4 baths ∙ 2,736 Sqft ∙ Built 2002
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,180
    • $0.80
    •  
  • 1655 Churchill Lane Mansfield, TX 1
    • 4 beds 3 baths ∙ 2,675 Sqft ∙ Built 2000 4 beds 3 baths ∙ 2,675 Sqft ∙ Built 2000
    property image
    LEASED 03/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,095
    • $0.78
    •  
  • 1430 New Haven Drive Mansfield, TX 2
    • 4 beds 3 baths ∙ 2,741 Sqft ∙ Built 1990 4 beds 3 baths ∙ 2,741 Sqft ∙ Built 1990
    property image
    LEASED 04/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,095
    • $0.76
    •  
  • 2607 Ridgeoak Trail Mansfield, TX 3
    • 3 beds 2 baths ∙ 2,544 Sqft ∙ Built 2000 3 beds 2 baths ∙ 2,544 Sqft ∙ Built 2000
    property image
    LEASED 12/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.83
    •  
  • 210 Adirondack Trail Arlington, TX 4
    • 4 beds 3 baths ∙ 2,567 Sqft ∙ Built 2001 4 beds 3 baths ∙ 2,567 Sqft ∙ Built 2001
    property image
    LEASED 08/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,175
    • $0.85
    •  
PROPERTY LISTING DETAILS
Sarah Padgett
Century 21 Judge Fite Company
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14486655
Last Updated: 12/30/2020
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