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1802 Friedrich Drive Mansfield, TX 76063

4 Beds 4 Baths 3,244 sqft Built 2021

$479,627

List Price

$2,600

$2.4K - $2.9K

Rent Est.

PROPERTY INFO

Built 2021 NEW CONSTRUCTION
February 02, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2021
  • Price/Sqft : $147.85
  • 6 Days on Market
  • MLS # : 14511059
  • Updated Date : 02/02/2021 at 13:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,244 sqft
  • Baths : 3 full , 1 half
Listing Agent

David M. Weekley

Listing Agent's Description

Every detail that has gone into this beautiful Westgate floorplan has been chosen with a homeowner’s luxury & comfort in mind. Your open floor plan presents an elegant expanse of natural light, soaring ceilings, and boundless design & décor potential. Expand your culinary horizons in the chef’s kitchen. The upstairs retreat & downstairs study offer sensational places for you to explore your interior design ambitions. Each spare bedroom presents a superb mix of privacy, closet space, and personal style potential. Withdraw to the deluxe master bedroom suite, featuring a lavish bathroom and a sizable walk in closet. The covered porch & downstairs powder room contribute to the everyday ease of entertaining guests.

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

Zip Code: 76063

ZipNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320kPrice in $123k336k

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

Zip Code: 76063

ZipNIR 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
Annette Perry Elementary School Primary Regular 342 27 6
Rogene Worley Middle School Middle Regular 929 55 7
Mansfield Lake Ridge High School High Unknown 2,085 113 NA

Annette Perry Elementary School

  • Education Level: Primary
  • # of students: 342
  • # of teachers: 27
6
GreatSchools Rating

Rogene Worley Middle School

  • Education Level: Middle
  • # of students: 929
  • # of teachers: 55
7
GreatSchools Rating

Mansfield Lake Ridge High School

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

$431,664$527,590$479,627

PURCHASE PRICE

$2,340$2,860$2,600

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,600
EXPENSES Loan Payment -$1,666
Property Tax -$1,088
Property Insurance -$215
HOA -$75
Property Management Fees -$99
CASH FLOW
-$542

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 10% of earned rent to cover both maintenance and periods of vacancy.

$479,627

PROJECTED PRICE

$2,600

PROJECTED RENT

0.54%

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) 3.00%
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-$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$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$129,101

INVESTMENT

$129,101

Down Payment
$119,907
Rehab Estimate
$2,000
Closing Costs
$7,194

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,666

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $119,907
Loan Amount $359,720
See What Happens When You Reinvest Cash Flow

0.25

YEARS SAVED

$166

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,600

    LIST RENT
  • $0.8

    LIST RENT PER SQFT
  • $2,603

    COMP ESTIMATED VALUE
  • $0.8

    COMP AVG. RENT PER SQFT
Comps Range
$2,200
1$2,2002$2,5753$2,6004$2,6755$2,800
$2,800
RENT COMPS ANALYSIS
  • 1802 Friedrich Drive Mansfield, TX 3
    • 4 beds 4 baths ∙ 3,244 Sqft ∙ Built 2021 4 beds 4 baths ∙ 3,244 Sqft ∙ Built 2021
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $0.80
    •  
  • 816 Cutting Horse Drive Mansfield, TX 1
    • 4 beds 3 baths ∙ 2,896 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,896 Sqft ∙ Built 2006
    LEASED 10/28/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.76
    •  
  • 4211 Eagle Drive Mansfield, TX 2
    • 5 beds 3 baths ∙ 3,480 Sqft ∙ Built 2012 5 beds 3 baths ∙ 3,480 Sqft ∙ Built 2012
    LEASED 09/19/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,575
    • $0.74
    •  
  • 3812 Calloway Drive Mansfield, TX 4
    • 4 beds 3 baths ∙ 3,116 Sqft ∙ Built 2003 4 beds 3 baths ∙ 3,116 Sqft ∙ Built 2003
    LEASED 07/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,675
    • $0.86
    •  
  • 511 Carnation Lane Mansfield, TX 5
    • 5 beds 3 baths ∙ 3,282 Sqft ∙ Built 2011 5 beds 3 baths ∙ 3,282 Sqft ∙ Built 2011
    LEASED 08/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $0.85
    •  
PROPERTY LISTING DETAILS
Jimmy Rado
David M. Weekley
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14511059
Last Updated: 02/02/2021
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