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16 Lake Glen Court Mansfield, TX 76063

4 Beds 4 Baths 3,178 sqft Built 2000

$499,000

List Price

$2,330

$2.1K - $2.6K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 19, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2000
  • Price/Sqft : $157.02
  • 3 Days on Market
  • MLS # : 14535356
  • Updated Date : 03/19/2021 at 14:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,178 sqft
  • Baths : 3 full , 1 half
Listing Agent

Keller Williams Arlington

Listing Agent's Description

4 bedroom, 3 and a half bath, 2 car garage with 2 living areas, 2 dining areas, and office. This lovely home is located in the Walnut Creek North neighborhood, directly adjacent to Walnut Creek Country Club. You are a short golf cart ride away from two 18-hole courses. Upon arrival at this home, you will be greeted with a spacious yard and oversized drive to accommodate multiple cars. This home has many updates including flooring, paint, granite and appliances. The heated pool and spa make an inviting oasis in the backyard. This prime location in award-winning Mansfield school district make this a dream home!

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 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
 

$449,100$548,900$499,000

PURCHASE PRICE

$2,097$2,563$2,330

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,330
EXPENSES Loan Payment -$1,733
Property Tax -$1,183
Property Insurance -$211
HOA -$12
Property Management Fees -$99
CASH FLOW
-$907

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.

$499,000

PROJECTED PRICE

$2,330

PROJECTED RENT

0.47%

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$1.2M$1.4M

PROJECTED ANNUAL CASH FLOW

11530-$18k-$16k-$14k-$12k-$10k-$8.0k-$6.0k-$4.0k-$2.0k$0.0

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$137,985

INVESTMENT

$137,985

Down Payment
$124,750
Rehab Estimate
$5,750
Closing Costs
$7,485

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 100% down payment or higher enables the proceeds from the asset to cover all costs.

$1,733

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $124,750
Loan Amount $374,250
See What Happens When You Reinvest Cash Flow

-0.17

YEARS SAVED

-$30

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,330

    LIST RENT
  • $0.73

    LIST RENT PER SQFT
  • $2,376

    COMP ESTIMATED VALUE
  • $0.75

    COMP AVG. RENT PER SQFT
Comps Range
$2,000
1$2,0002$2,1953$2,3304$2,4505$2,475
$2,475
RENT COMPS ANALYSIS
  • 16 Lake Glen Court Mansfield, TX 3
    • 4 beds 4 baths ∙ 3,178 Sqft ∙ Built 2000 4 beds 4 baths ∙ 3,178 Sqft ∙ Built 2000
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,330
    • $0.73
    •  
  • 2806 Claremont Drive Mansfield, TX 1
    • 5 beds 3 baths ∙ 2,948 Sqft ∙ Built 2001 5 beds 3 baths ∙ 2,948 Sqft ∙ Built 2001
    property image
    LEASED 10/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.68
    •  
  • 2718 Rocky Creek Drive Mansfield, TX 2
    • 5 beds 3 baths ∙ 2,859 Sqft ∙ Built 1999 5 beds 3 baths ∙ 2,859 Sqft ∙ Built 1999
    property image
    LEASED 10/09/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,195
    • $0.77
    •  
  • 1100 Bonanza Court Arlington, TX 4
    • 5 beds 4 baths ∙ 3,239 Sqft ∙ Built 2001 5 beds 4 baths ∙ 3,239 Sqft ∙ Built 2001
    property image
    LEASED 03/09/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $0.76
    •  
  • 802 Saint Matthew Drive Mansfield, TX 5
    • 5 beds 4 baths ∙ 3,174 Sqft ∙ Built 1999 5 beds 4 baths ∙ 3,174 Sqft ∙ Built 1999
    property image
    LEASED 12/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,475
    • $0.78
    •  
PROPERTY LISTING DETAILS
Angela Hornburg
Keller Williams Arlington
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14535356
Last Updated: 03/19/2021
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