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2 Amen Corner Court Mansfield, TX 76063

3 Beds 3 Baths 2,570 sqft Built 1994

$395,000

List Price

$2,220

$2K - $2.4K

Rent Est.

PROPERTY INFO

October 29, 2020 RECENTLY ADDED
FACTS
  • Built In 1994
  • Price/Sqft : $153.70
  • 7 Days on Market
  • MLS # : 14460344
  • Updated Date : 10/31/2020 at 13:59
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,570 sqft
  • Baths : 2 full , 1 half
Listing Agent

Keller Williams Frisco Stars

Listing Agent's Description

Beautiful 4 bedroom 2.1 bath home in well-established neighborhood close to Walnut Creek golf course. Cul-de-sac home on one-third acre lot offers an oversized backyard with lots of trees & creek views. Gourmet kitchen open to huge family room, large master bath and master closet. Recent roof and AC (2020), surround sound in living, master bed, bath and closet, exterior cameras, hardwood and tile flooring and much more! Highly desirable schools, walk to stores, shopping, restaurants and golf course. You have to see this one! 4th bedroom added an extra 400 square feet in 2014. Seller is allowing new buyer to choose new carpet for master bedroom and master closet.#realtytown3

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 Valley

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320kPrice in $123k336k

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

Neighborhood: Walnut Creek Valley

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
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
 

$355,500$434,500$395,000

PURCHASE PRICE

$1,998$2,442$2,220

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,220
EXPENSES Loan Payment -$1,457
Property Tax -$936
Property Insurance -$176
Property Management Fees -$99
CASH FLOW
-$448

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.

$395,000

PROJECTED PRICE

$2,220

PROJECTED RENT

0.56%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 7.8%
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$4.0k

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$110,425

INVESTMENT

$110,425

Down Payment
$98,750
Rehab Estimate
$5,750
Closing Costs
$5,925

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,457

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $98,750
Loan Amount $296,250
See What Happens When You Reinvest Cash Flow

0.33

YEARS SAVED

$369

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,220

    LIST RENT
  • $0.86

    LIST RENT PER SQFT
  • $2,056

    COMP ESTIMATED VALUE
  • $0.8

    COMP AVG. RENT PER SQFT
Comps Range
$1,950
1$1,9502$2,0003$2,1004$2,2005$2,220
$2,220
RENT COMPS ANALYSIS
  • 2 Amen Corner Court Mansfield, TX 5
    • 3 beds 3 baths ∙ 2,570 Sqft ∙ Built 1994 3 beds 3 baths ∙ 2,570 Sqft ∙ Built 1994
    • Rent
    • Rent Per SQFT
    •  
    • $2,220
    • $0.86
    •  
  • 1410 Holley Creek Lane Mansfield, TX 1
    • 4 beds 3 baths ∙ 2,650 Sqft ∙ Built 1987 4 beds 3 baths ∙ 2,650 Sqft ∙ Built 1987
    LEASED 06/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.74
    •  
  • 1409 Fairhaven Drive Mansfield, TX 2
    • 4 beds 2 baths ∙ 2,457 Sqft ∙ Built 1991 4 beds 2 baths ∙ 2,457 Sqft ∙ Built 1991
    LEASED 02/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.81
    •  
  • 911 Kingston Drive Mansfield, TX 3
    • 3 beds 3 baths ∙ 2,565 Sqft ∙ Built 1984 3 beds 3 baths ∙ 2,565 Sqft ∙ Built 1984
    LEASED 05/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.82
    •  
  • 1100 Province Lane Mansfield, TX 4
    • 4 beds 2 baths ∙ 2,643 Sqft ∙ Built 1977 4 beds 2 baths ∙ 2,643 Sqft ∙ Built 1977
    LEASED 08/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.83
    •  
PROPERTY LISTING DETAILS
Jennifer Durrett
Keller Williams Frisco Stars
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14460344
Last Updated: 10/31/2020
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