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1513 Brittany Lane Mansfield, TX 76063

4 Beds 2 Baths 2,164 sqft Built 1998

$290,000

List Price

$1,910

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

November 21, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1998
  • Price/Sqft : $134.01
  • 2 Days on Market
  • MLS # : 14475512
  • Updated Date : 11/21/2020 at 10:57
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,164 sqft
  • Baths : 2 full
Listing Agent

Chase Realty Dfw

Listing Agent's Description

Enjoy this Beautiful Spacious 4 bedroom, 2 bath, 2,164 sqft Home. Home Is Located In The Highly Desirable City of Mansfield's Prime Location. Home Features High Ceilings, A Well Laid Out Open Concept Design, Great for Gatherings. Kitchen's Located In The Heart Of The Home With A 2 Tier Peninsula, A Large Dining, Breakfast And Utility Room With Tons of Storage Space. Beautiful Tile Wood-Look Floors throughout And A Covered Patio With A Well Manicured Yard. A Split Bedroom Home With Spacious Bedrooms and Walk-In Closets And A Grand Owners Suite With A Bay Window. Home Provides An Abundance of Natural Light. All At Close Distance And Easy access To The Hwy, Schools, Coffee Shops, Entertainment & Shopping Centers.

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: 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
 

$261,000$319,000$290,000

PURCHASE PRICE

$1,719$2,101$1,910

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,910
EXPENSES Loan Payment -$1,070
Property Tax -$687
Property Insurance -$152
Property Management Fees -$99
CASH FLOW
-$99

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.

$290,000

PROJECTED PRICE

$1,910

PROJECTED RENT

0.66%

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

PROJECTED ANNUAL CASH FLOW

11530-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$82,600

INVESTMENT

$82,600

Down Payment
$72,500
Rehab Estimate
$5,750
Closing Costs
$4,350

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$1,070

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $72,500
Loan Amount $217,500
See What Happens When You Reinvest Cash Flow

2.75

YEARS SAVED

$7,755

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,910

    LIST RENT
  • $0.88

    LIST RENT PER SQFT
  • $2,067

    COMP ESTIMATED VALUE
  • $0.96

    COMP AVG. RENT PER SQFT
Comps Range
$1,800
1$1,8002$1,8953$1,9104$2,1155$2,295
$2,295
RENT COMPS ANALYSIS
  • 1513 Brittany Lane Mansfield, TX 3
    • 4 beds 2 baths ∙ 2,164 Sqft ∙ Built 1998 4 beds 2 baths ∙ 2,164 Sqft ∙ Built 1998
    • Rent
    • Rent Per SQFT
    •  
    • $1,910
    • $0.88
    •  
  • 1606 Oxford Drive Mansfield, TX 1
    • 4 beds 3 baths ∙ 2,015 Sqft ∙ Built 1993 4 beds 3 baths ∙ 2,015 Sqft ∙ Built 1993
    LEASED 09/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.89
    •  
  • 1514 Cheyenne Trail Mansfield, TX 2
    • 3 beds 2 baths ∙ 2,021 Sqft ∙ Built 1997 3 beds 2 baths ∙ 2,021 Sqft ∙ Built 1997
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.94
    •  
  • 1617 Churchill Lane Mansfield, TX 4
    • 4 beds 2 baths ∙ 2,170 Sqft ∙ Built 1995 4 beds 2 baths ∙ 2,170 Sqft ∙ Built 1995
    LEASED 11/24/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,115
    • $0.97
    •  
  • 1411 Brighton Drive Mansfield, TX 5
    • 5 beds 2 baths ∙ 2,247 Sqft ∙ Built 2000 5 beds 2 baths ∙ 2,247 Sqft ∙ Built 2000
    LEASED 06/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,295
    • $1.02
    •  
PROPERTY LISTING DETAILS
Kathryn Dias
Chase Realty Dfw
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14475512
Last Updated: 11/21/2020
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