Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

1613 Almond Drive Mansfield, TX 76063

5 Beds 4 Baths 3,364 sqft Built 2004

$410,000

List Price

$2,330

$2.1K - $2.6K

Rent Est.

PROPERTY INFO

October 29, 2020 RECENTLY ADDED
FACTS
  • Built In 2004
  • Price/Sqft : $121.88
  • 6 Days on Market
  • MLS # : 14461948
  • Updated Date : 10/29/2020 at 20:40
CONSTRUCTION
  • Beds : 5
  • Floor Size : 3,364 sqft
  • Baths : 3 full , 1 half
Listing Agent

Re/max Associates Of Mansfield

Listing Agent's Description

Welcome home! There's room for everyone with 5 bedrooms & 3.5 baths. The light and bright kitchen is a cook's dream with gas cooktop, pantry and huge island. Abundant cabinet and countertop space help to make meal prep easy. The large living room features a wood burning fireplace with gas starter and is open to the kitchen. The living, dining, study and master bedroom all have beautiful wood floors. Staircase with wrought iron ballisters. Second floor has a gameroom and 4 large bedrooms. Lots of windows make for lovely natural lighting throughout the home. The layout of this home is great for entertaining and with neutral paint throughout is ready for you to add your own personal decor. 3 car garage! New roof!

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 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
 

$369,000$451,000$410,000

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 -$1,513
Property Tax -$972
Property Insurance -$222
HOA -$12
Property Management Fees -$99
CASH FLOW
-$487

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.

$410,000

PROJECTED PRICE

$2,330

PROJECTED RENT

0.57%

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

PROJECTED ANNUAL CASH FLOW

11530-$12k-$10k-$8.0k-$6.0k-$4.0k-$2.0k$0.0$2.0k

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$114,400

INVESTMENT

$114,400

Down Payment
$102,500
Rehab Estimate
$5,750
Closing Costs
$6,150

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 75% down payment or higher enables the proceeds from the asset to cover all costs.

$1,513

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $102,500
Loan Amount $307,500
See What Happens When You Reinvest Cash Flow

0.25

YEARS SAVED

$221

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
  • $0.69

    LIST RENT PER SQFT
  • $2,271

    COMP ESTIMATED VALUE
  • $0.68

    COMP AVG. RENT PER SQFT
Comps Range
$1,975
1$1,9752$2,2003$2,2604$2,3305$2,495
$2,495
RENT COMPS ANALYSIS
  • 1613 Almond Drive Mansfield, TX 4
    • 5 beds 4 baths ∙ 3,364 Sqft ∙ Built 2004 5 beds 4 baths ∙ 3,364 Sqft ∙ Built 2004
    • Rent
    • Rent Per SQFT
    •  
    • $2,330
    • $0.69
    •  
  • 1903 Austin Street Mansfield, TX 1
    • 4 beds 3 baths ∙ 3,099 Sqft ∙ Built 2002 4 beds 3 baths ∙ 3,099 Sqft ∙ Built 2002
    LEASED 08/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,975
    • $0.64
    •  
  • 1108 Saint Ann Drive Mansfield, TX 2
    • 4 beds 4 baths ∙ 3,286 Sqft ∙ Built 2004 4 beds 4 baths ∙ 3,286 Sqft ∙ Built 2004
    LEASED 01/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.67
    •  
  • 1910 Winter Park Drive Mansfield, TX 3
    • 5 beds 3 baths ∙ 3,418 Sqft ∙ Built 2000 5 beds 3 baths ∙ 3,418 Sqft ∙ Built 2000
    LEASED 11/25/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,260
    • $0.66
    •  
  • 2100 Harvest Way Mansfield, TX 5
    • 4 beds 3 baths ∙ 3,410 Sqft ∙ Built 2002 4 beds 3 baths ∙ 3,410 Sqft ∙ Built 2002
    LEASED 01/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,495
    • $0.73
    •  
PROPERTY LISTING DETAILS
Cindy Schmidt
Re/max Associates Of Mansfield
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14461948
Last Updated: 10/29/2020
BESbswy