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1611 Cowtown Drive Mansfield, TX 76063

3 Beds 2 Baths 1,540 sqft Built 2005

$245,000

List Price

$1,530

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

October 29, 2020 RECENTLY ADDED
FACTS
  • Built In 2005
  • Price/Sqft : $159.09
  • 6 Days on Market
  • MLS # : 14457005
  • Updated Date : 10/29/2020 at 21:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,540 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Arlington

Listing Agent's Description

This pleasant, well-kept home within walking distance to Mansfield ISD's Perry Elem., offers an open concept living area, split bedroom floorplan & vaulted ceilings. The owner's suite, just off the entryway, has a separate shower, dual sinks, soaker tub & walk-in closet. Relax on the front porch & enjoy the cool weather or cuddle up inside on the sprawling window seat in the living room overlooking your backyard with a beautiful mature shade tree. Brand new carpet in bedrooms, new HVAC 2020, stove & roof upgraded 2019. Roof has 50 yr materials warranty. Refrigerator, washer and dryer stay with home. Easy access to 287 & minutes to downtown Fort Worth. Ask about saving thousands with special financing offered!

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: Remington Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280kPrice in $114k290k

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

Neighborhood: Remington Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21100120013001400150016001700180019002000Rent in $10492016

* 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 Orr Intermediate School Primary Regular 845 53 7
Mary Orr Intermediate School Middle Regular 845 53 7
Mansfield Lake Ridge High School High Unknown 2,085 113 NA

Mary Orr Intermediate School

  • Education Level: Primary
  • # of students: 845
  • # of teachers: 53
7
GreatSchools Rating

Mary Orr Intermediate School

  • Education Level: Middle
  • # of students: 845
  • # of teachers: 53
7
GreatSchools Rating

Mansfield Lake Ridge High School

  • Education Level: High
  • # of students: 2,085
  • # of teachers: 113
NA
GreatSchools Rating
 

$220,500$269,500$245,000

PURCHASE PRICE

$1,377$1,683$1,530

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,530
EXPENSES Loan Payment -$904
Property Tax -$556
Property Insurance -$116
HOA -$15
Property Management Fees -$99
CASH FLOW
-$160

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 14% of earned rent to cover both maintenance and periods of vacancy.

$245,000

PROJECTED PRICE

$1,530

PROJECTED RENT

0.62%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 7.1%
Maintenance Year (1-5) 8.00%
Vacancy 6.39%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k$700k

PROJECTED ANNUAL CASH FLOW

11530-$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$100k$200k$300k$400k$500k$600k$700k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$70,675

INVESTMENT

$70,675

Down Payment
$61,250
Rehab Estimate
$5,750
Closing Costs
$3,675

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$904

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $61,250
Loan Amount $183,750
See What Happens When You Reinvest Cash Flow

1.58

YEARS SAVED

$2,831

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,530

    LIST RENT
  • $0.99

    LIST RENT PER SQFT
  • $1,663

    COMP ESTIMATED VALUE
  • $1.08

    COMP AVG. RENT PER SQFT
Comps Range
$1,530
1$1,5302$1,6503$1,6954$1,7955$1,950
$1,950
RENT COMPS ANALYSIS
  • 1611 Cowtown Drive Mansfield, TX 1
    • 3 beds 2 baths ∙ 1,540 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,540 Sqft ∙ Built 2005
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,530
    • $0.99
    •  
  • 1309 Concho Trail Mansfield, TX 2
    • 3 beds 2 baths ∙ 1,512 Sqft ∙ Built 2009 3 beds 2 baths ∙ 1,512 Sqft ∙ Built 2009
    property image
    LEASED 05/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.09
    •  
  • 1006 Remington Ranch Road Mansfield, TX 3
    • 4 beds 2 baths ∙ 1,534 Sqft ∙ Built 2003 4 beds 2 baths ∙ 1,534 Sqft ∙ Built 2003
    property image
    LEASED 06/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $1.10
    •  
  • 1224 Concho Trail Mansfield, TX 4
    • 3 beds 2 baths ∙ 1,679 Sqft ∙ Built 2007 3 beds 2 baths ∙ 1,679 Sqft ∙ Built 2007
    property image
    LEASED 10/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $1.07
    •  
  • 1000 Copperleaf Drive Mansfield, TX 5
    • 3 beds 2 baths ∙ 1,841 Sqft ∙ Built 2014 3 beds 2 baths ∙ 1,841 Sqft ∙ Built 2014
    property image
    LEASED 09/29/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $1.06
    •  
PROPERTY LISTING DETAILS
Jordan Davis
Keller Williams Arlington
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14457005
Last Updated: 10/29/2020
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