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1901 Cancun Drive Mansfield, TX 76063

4 Beds 4 Baths 2,431 sqft Built 2004

$280,000

List Price

$1,990

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

February 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2004
  • Price/Sqft : $115.18
  • 3 Days on Market
  • MLS # : 14516111
  • Updated Date : 02/12/2021 at 19:13
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,431 sqft
  • Baths : 3 full , 1 half
Listing Agent

Keller Williams Arlington

Listing Agent's Description

Located on a corner lot, this spacious 4 bedroom home has a great floor plan with master bedroom downstairs plus smaller master upstairs, as well as 2 additional bedrooms. Kitchen has granite counter tops, wood cabinets, island, and is open to family room with wood burning fire place. 8x12 bonus room is partial garage conversion not calculated in total square footage and could be converted back to two car garage. Roof replaced in 2019. AC unit replaced in 2020. Walking distance to great schools!

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: Country Meadows at Mansfield

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280kPrice in $118k290k

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

Neighborhood: Country Meadows at Mansfield

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21100120013001400150016001700180019002000Rent in $10682016

* 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 Jo Sheppard Elementary School Primary Regular 543 36 6
Linda Jobe Middle School Middle Regular 809 53 8
Mansfield Legacy High School High Regular 1,945 103 6

Mary Jo Sheppard Elementary School

  • Education Level: Primary
  • # of students: 543
  • # of teachers: 36
6
GreatSchools Rating

Linda Jobe Middle School

  • Education Level: Middle
  • # of students: 809
  • # of teachers: 53
8
GreatSchools Rating

Mansfield Legacy High School

  • Education Level: High
  • # of students: 1,945
  • # of teachers: 103
6
GreatSchools Rating
 

$252,000$308,000$280,000

PURCHASE PRICE

$1,791$2,189$1,990

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,990
EXPENSES Loan Payment -$973
Property Tax -$664
Property Insurance -$168
HOA -$4
Property Management Fees -$99
CASH FLOW
$83

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.

$280,000

PROJECTED PRICE

$1,990

PROJECTED RENT

0.71%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 9.7%
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$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$79,950

INVESTMENT

$79,950

Down Payment
$70,000
Rehab Estimate
$5,750
Closing Costs
$4,200

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$973

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $70,000
Loan Amount $210,000
See What Happens When You Reinvest Cash Flow

5.58

YEARS SAVED

$17,530

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,990

    LIST RENT
  • $0.82

    LIST RENT PER SQFT
  • $1,987

    COMP ESTIMATED VALUE
  • $0.82

    COMP AVG. RENT PER SQFT
Comps Range
$1,950
1$1,9502$1,9903$1,9954$2,1005$2,200
$2,200
RENT COMPS ANALYSIS
  • 1901 Cancun Drive Mansfield, TX 2
    • 4 beds 4 baths ∙ 2,431 Sqft ∙ Built 2004 4 beds 4 baths ∙ 2,431 Sqft ∙ Built 2004
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,990
    • $0.82
    •  
  • 2009 Sword Fish Drive Mansfield, TX 1
    • 5 beds 3 baths ∙ 2,619 Sqft ∙ Built 2004 5 beds 3 baths ∙ 2,619 Sqft ∙ Built 2004
    property image
    LEASED 11/19/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.74
    •  
  • 1700 Hope Town Drive Mansfield, TX 3
    • 4 beds 3 baths ∙ 2,549 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,549 Sqft ∙ Built 2004
    property image
    LEASED 05/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.78
    •  
  • 1607 Monte Carlo Drive Mansfield, TX 4
    • 4 beds 2 baths ∙ 2,312 Sqft ∙ Built 2004 4 beds 2 baths ∙ 2,312 Sqft ∙ Built 2004
    property image
    LEASED 12/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.91
    •  
  • 1607 Chateau Lane Mansfield, TX 5
    • 5 beds 3 baths ∙ 2,604 Sqft ∙ Built 2004 5 beds 3 baths ∙ 2,604 Sqft ∙ Built 2004
    property image
    LEASED 05/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.84
    •  
PROPERTY LISTING DETAILS
Claudia Acosta
Keller Williams Arlington
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14516111
Last Updated: 02/12/2021
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