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1804 Friedrich Street Mansfield, TX 76063

4 Beds 3 Baths 2,361 sqft Built 2021

$449,198

List Price

$2,390

$2.2K - $2.6K

Rent Est.

PROPERTY INFO

Built 2021 NEW CONSTRUCTION
January 28, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2021
  • Price/Sqft : $190.26
  • 4 Days on Market
  • MLS # : 14507362
  • Updated Date : 01/27/2021 at 12:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,361 sqft
  • Baths : 3 full
Listing Agent

David M. Weekley

Listing Agent's Description

If you are looking for an incredible front elevation with awesome curb appeal, the Cedaridge is for you! This home boasts wide-open spaced & light. Your eyes will be drawn to the flow of varying ceiling heights. If outdoor living is what you desire, your covered back patio is a perfect oasis for grilling with friends & family. Your owner's retreat & bathroom has a spa-like feel with a large walk-in super shower. You will have tons of room to entertain with your oversized kitchen and family room. The kitchen features stainless steel appliances. So, if a magnificent one story home on an oversized home site is what you seek, you will find that within this incredible Cedaridge!

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

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
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
 

$404,278$494,118$449,198

PURCHASE PRICE

$2,151$2,629$2,390

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,390
EXPENSES Loan Payment -$1,560
Property Tax -$1,019
Property Insurance -$164
HOA -$75
Property Management Fees -$99
CASH FLOW
-$527

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.

$449,198

PROJECTED PRICE

$2,390

PROJECTED RENT

0.53%

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-$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$121,037

INVESTMENT

$121,037

Down Payment
$112,300
Rehab Estimate
$2,000
Closing Costs
$6,738

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,560

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $112,300
Loan Amount $336,899
See What Happens When You Reinvest Cash Flow

0.17

YEARS SAVED

$105

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,390

    LIST RENT
  • $1.01

    LIST RENT PER SQFT
  • $2,320

    COMP ESTIMATED VALUE
  • $0.98

    COMP AVG. RENT PER SQFT
Comps Range
$2,000
1$2,0002$2,1003$2,2504$2,2505$2,390
$2,390
RENT COMPS ANALYSIS
  • 1804 Friedrich Street Mansfield, TX 5
    • 4 beds 3 baths ∙ 2,361 Sqft ∙ Built 2021 4 beds 3 baths ∙ 2,361 Sqft ∙ Built 2021
    • Rent
    • Rent Per SQFT
    •  
    • $2,390
    • $1.01
    •  
  • 3904 Calloway Drive Mansfield, TX 1
    • 3 beds 2 baths ∙ 2,139 Sqft ∙ Built 2002 3 beds 2 baths ∙ 2,139 Sqft ∙ Built 2002
    LEASED 02/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.94
    •  
  • 3509 Weyburn Drive Mansfield, TX 2
    • 3 beds 2 baths ∙ 2,165 Sqft ∙ Built 2018 3 beds 2 baths ∙ 2,165 Sqft ∙ Built 2018
    LEASED 08/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.97
    •  
  • 500 Titleist Drive Mansfield, TX 3
    • 3 beds 2 baths ∙ 2,257 Sqft ∙ Built 2002 3 beds 2 baths ∙ 2,257 Sqft ∙ Built 2002
    LEASED 01/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $1.00
    •  
  • 2608 Chadwick Lane Mansfield, TX 4
    • 4 beds 2 baths ∙ 2,200 Sqft ∙ Built 2019 4 beds 2 baths ∙ 2,200 Sqft ∙ Built 2019
    LEASED 06/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $1.02
    •  
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 #: 14507362
Last Updated: 01/27/2021
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