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1607 Churchill Lane Mansfield, TX 76063

4 Beds 3 Baths 2,511 sqft Built 1996

INVESTimate

$340,000

List Price

$2,070

$1,863 - $2,277

Rent Est.

$366,520  ( +7.80%)   1 YR EST. FORECAST

PROPERTY INFO

August 21, 2020 RECENTLY ADDED
FACTS
  • Built In 1996
  • Price/Sqft : $135.40
  • 6 Days on Market
  • MLS # : 14417549
  • Updated Date : 08/21/2020 at 19:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,511 sqft
  • Baths : 3 full
Listing Agent

Exp Realty

Listing Agent's Description

Beautiful well maintained home looking for its new owner. This two story home in the well sought after Mansfield School District, is located in an established neighborhood. This home features two Master Bedrooms and has upgraded Anderson windows in the front of the home. Upgrades include the roof, wood floors, granite counter tops, upgraded interior doors with hardware, and many more features. The pool was resurfaced in the spring and the pump was replaced days ago. This backyard paradise also features a gazebo and a green house with electricity. This one will not last long. Seller to need a possible 60 day closing date.

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

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
 

$306,000$374,000$340,000

PURCHASE PRICE

$1,863$2,277$2,070

RENT

DOWN PAYMENT
FINANCING

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$6.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,070
EXPENSES Loan Payment -$1,254
Property Tax -$806
Property Insurance -$172
Property Management Fees -$99
CASH FLOW
-$262

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.

$340,000

PROJECTED PRICE

$2,070

PROJECTED RENT

0.61%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 7.80%
Maintenance Year (1-5) 8.00%
Vacancy 6.93%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$95,850

INVESTMENT

$95,850

Down Payment
$85,000
Rehab Estimate
$5,750
Closing Costs
$5,100

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,254

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $85,000
Loan Amount $255,000
See What Happens When You Reinvest Cash Flow

1.17

YEARS SAVED

$2,319

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,070

    LIST RENT
  • $0.82

    LIST RENT PER SQFT
  • $2,072

    COMP ESTIMATED VALUE
  • $0.83

    COMP AVG. RENT PER SQFT
Comps Range
$2,070
1$2,0702$2,0953$2,0954$2,0955$2,175
$2,175
RENT COMPS ANALYSIS
  • 1607 Churchill Lane Mansfield, TX 1
    • 4 beds 3 baths ∙ 2,511 Sqft ∙ Built 1996 4 beds 3 baths ∙ 2,511 Sqft ∙ Built 1996
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,070
    • $0.82
    •  
  • 3003 Upland Drive Mansfield, TX 2
    • 4 beds 2 baths ∙ 2,402 Sqft ∙ Built 2001 4 beds 2 baths ∙ 2,402 Sqft ∙ Built 2001
    property image
    LEASED 10/09/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,095
    • $0.87
    •  
  • 1408 Oxford Drive Mansfield, TX 3
    • 5 beds 3 baths ∙ 2,628 Sqft ∙ Built 1998 5 beds 3 baths ∙ 2,628 Sqft ∙ Built 1998
    property image
    LEASED 02/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,095
    • $0.80
    •  
  • 1655 Churchill Lane Mansfield, TX 4
    • 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
    •  
  • 210 Adirondack Trail Arlington, TX 5
    • 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
Brandee Escalante
Exp Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14417549
Last Updated: 08/21/2020
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