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1915 Windcastle Drive Mansfield, TX 76063

3 Beds 2 Baths 2,246 sqft Built 2002

$274,900

List Price

$1,960

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 26, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2002
  • Price/Sqft : $122.40
  • 4 Days on Market
  • MLS # : 14538349
  • Updated Date : 03/26/2021 at 22:11
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,246 sqft
  • Baths : 2 full
Listing Agent

Citiwide Alliance Realty

Listing Agent's Description

Beautiful Mansfield home in the highly sought after Walnut Hills neighborhood! 3 bedrooms plus an oversized office. Spacious split floor plan, fresh paint, bamboo wood flooring throughout, and a new 35 yr roof. Large master suite featuring his and her closets and jetted tub. This home was meticulously maintained by the owner. Covered patio perfect for entertaining. Wonderful neighborhood, Mansfield ISD, and a convenient location. This beautiful home is a must see!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • . 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)

PRICE & RENT TRENDS

Neighborhood: Walnut Hills

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320kPrice in $123k336k

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

Neighborhood: Walnut Hills

NeighborhoodNIR 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
Martha Reid Elementary School Primary Regular 667 42 7
Rogene Worley Middle School Middle Regular 929 55 7
Mansfield High School High Regular 2,333 123 8

Martha Reid Elementary School

  • Education Level: Primary
  • # of students: 667
  • # of teachers: 42
7
GreatSchools Rating

Rogene Worley Middle School

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

Mansfield High School

  • Education Level: High
  • # of students: 2,333
  • # of teachers: 123
8
GreatSchools Rating
 

$247,410$302,390$274,900

PURCHASE PRICE

$1,764$2,156$1,960

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,960
EXPENSES Loan Payment -$955
Property Tax -$652
Property Insurance -$157
Property Management Fees -$99
CASH FLOW
$98

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.

$274,900

PROJECTED PRICE

$1,960

PROJECTED RENT

0.71%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 10.1%
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

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$78,599

INVESTMENT

$78,599

Down Payment
$68,725
Rehab Estimate
$5,750
Closing Costs
$4,124

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$955

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $68,725
Loan Amount $206,175
See What Happens When You Reinvest Cash Flow

5.92

YEARS SAVED

$18,570

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,960

    LIST RENT
  • $0.87

    LIST RENT PER SQFT
  • $1,988

    COMP ESTIMATED VALUE
  • $0.89

    COMP AVG. RENT PER SQFT
Comps Range
$1,895
1$1,8952$1,9603$2,0004$2,0505$2,100
$2,100
RENT COMPS ANALYSIS
  • 1915 Windcastle Drive Mansfield, TX 2
    • 3 beds 2 baths ∙ 2,246 Sqft ∙ Built 2002 3 beds 2 baths ∙ 2,246 Sqft ∙ Built 2002
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,960
    • $0.87
    •  
  • 2613 Country Grove Trail Mansfield, TX 1
    • 4 beds 2 baths ∙ 2,246 Sqft ∙ Built 2002 4 beds 2 baths ∙ 2,246 Sqft ∙ Built 2002
    property image
    LEASED 03/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.84
    •  
  • 2015 Perry Drive Mansfield, TX 3
    • 3 beds 2 baths ∙ 2,224 Sqft ∙ Built 1996 3 beds 2 baths ∙ 2,224 Sqft ∙ Built 1996
    property image
    LEASED 01/19/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.90
    •  
  • 2702 Pyramid Lane Mansfield, TX 4
    • 3 beds 2 baths ∙ 2,320 Sqft ∙ Built 2004 3 beds 2 baths ∙ 2,320 Sqft ∙ Built 2004
    property image
    LEASED 06/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,050
    • $0.88
    •  
  • 1 Laura Elizabeth Court Mansfield, TX 5
    • 3 beds 2 baths ∙ 2,292 Sqft ∙ Built 1996 3 beds 2 baths ∙ 2,292 Sqft ∙ Built 1996
    property image
    LEASED 01/11/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.92
    •  
PROPERTY LISTING DETAILS
Rachel Rowan
Citiwide Alliance Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14538349
Last Updated: 03/26/2021
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