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1605 Chateau Lane Mansfield, TX 76063

5 Beds 4 Baths 3,868 sqft Built 2004

$420,000

List Price

$2,780

$2.5K - $3K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 21, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2004
  • Price/Sqft : $108.58
  • 5 Days on Market
  • MLS # : 14535138
  • Updated Date : 03/20/2021 at 22:45
CONSTRUCTION
  • Beds : 5
  • Floor Size : 3,868 sqft
  • Baths : 3 full , 1 half
Listing Agent

Klm Real Estate

Listing Agent's Description

Elegant home in a great neighborhood located in highly acclaimed Mansfield ISD. Move in ready updated home for new owners. Spacious master bedroom and library study on ground floor. Upstairs with massive game room, and 4 nice oversize bedrooms with walk in closets. Updated kitchen features including stainless steel appliances, tile flooring, and lots of granite countertop making a dream kitchen. Your new home is full of custom touches including dramatic high ceilings and all the bells and whistles. COME AND SEE FOR YOURSELF!

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: Belle Meade South

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320kPrice in $123k336k

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

Neighborhood: Belle Meade South

NeighborhoodNIR Market*CityMarket2010Year20002019 Q212001300140015001600170018001900200021002200Rent in $11262203

* 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 Jo Sheppard Elementary School Primary Regular 543 36 6
Linda Jobe Middle School Middle Regular 809 53 8
Mansfield Legacy High School High Regular 1,945 103 6

Mary Jo Sheppard Elementary School

  • Education Level: Primary
  • # of students: 543
  • # of teachers: 36
6
GreatSchools Rating

Linda Jobe Middle School

  • Education Level: Middle
  • # of students: 809
  • # of teachers: 53
8
GreatSchools Rating

Mansfield Legacy High School

  • Education Level: High
  • # of students: 1,945
  • # of teachers: 103
6
GreatSchools Rating
 

$378,000$462,000$420,000

PURCHASE PRICE

$2,502$3,058$2,780

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,780
EXPENSES Loan Payment -$1,459
Property Tax -$996
Property Insurance -$251
Property Management Fees -$99
CASH FLOW
-$24

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.

$420,000

PROJECTED PRICE

$2,780

PROJECTED RENT

0.66%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 7.1%
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-$5.0k$0.0$5.0k$10k

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$117,050

INVESTMENT

$117,050

Down Payment
$105,000
Rehab Estimate
$5,750
Closing Costs
$6,300

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,459

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $105,000
Loan Amount $315,000
See What Happens When You Reinvest Cash Flow

3.67

YEARS SAVED

$14,895

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,780

    LIST RENT
  • $0.72

    LIST RENT PER SQFT
  • $2,914

    COMP ESTIMATED VALUE
  • $0.75

    COMP AVG. RENT PER SQFT
Comps Range
$2,400
1$2,4002$2,5953$2,7804$3,750
$3,750
RENT COMPS ANALYSIS
  • 1605 Chateau Lane Mansfield, TX 3
    • 5 beds 4 baths ∙ 3,868 Sqft ∙ Built 2004 5 beds 4 baths ∙ 3,868 Sqft ∙ Built 2004
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,780
    • $0.72
    •  
  • 1103 Doubletree Lane Mansfield, TX 1
    • 5 beds 4 baths ∙ 3,722 Sqft ∙ Built 2005 5 beds 4 baths ∙ 3,722 Sqft ∙ Built 2005
    property image
    LEASED 08/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $0.64
    •  
  • 1310 Tanglewood Drive Mansfield, TX 2
    • 4 beds 3 baths ∙ 3,566 Sqft ∙ Built 1999 4 beds 3 baths ∙ 3,566 Sqft ∙ Built 1999
    property image
    LEASED 07/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,595
    • $0.73
    •  
  • 828 Rio Grande Drive Mansfield, TX 4
    • 5 beds 5 baths ∙ 4,198 Sqft ∙ Built 2009 5 beds 5 baths ∙ 4,198 Sqft ∙ Built 2009
    property image
    LEASED 01/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,750
    • $0.89
    •  
PROPERTY LISTING DETAILS
Martin Hestrin
Klm Real Estate
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14535138
Last Updated: 03/20/2021
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