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2017 Perry Drive Mansfield, TX 76063

4 Beds 2 Baths 2,182 sqft Built 1995

$292,500

List Price

$1,950

$1.8K - $2.1K

Rent Est.

PROPERTY INFO

January 15, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1995
  • Price/Sqft : $134.05
  • 3 Days on Market
  • MLS # : 14500360
  • Updated Date : 01/15/2021 at 18:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,182 sqft
  • Baths : 2 full
Listing Agent

Dynamic Real Estate Group

Listing Agent's Description

This meticulously maintained one owner home is the right one for you. Enjoy the hardwood floors throughout the house and the newly remodeled second bathroom. Warm up with a fire in the gas fireplace or the shade of the back patio that is original to the house. The open concept allows for plenty of space for family and friends to gather and socialize together or set up a computer from from the formal dining room or 4th bedroom loft (this room could also be used as a study) and go virtual for gatherings. Top of the line security system with fire sensors for complete house coverage. Roof replaced in December 2020, new complete HVAC system in July 2020, new exterior paint and carpet throughout the house.

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: Heritage Estates

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320kPrice in $123k336k

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

Neighborhood: Heritage Estates

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
Mary Orr Intermediate School Middle Regular 845 53 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

Mary Orr Intermediate School

  • Education Level: Middle
  • # of students: 845
  • # of teachers: 53
7
GreatSchools Rating

Mansfield High School

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

$263,250$321,750$292,500

PURCHASE PRICE

$1,755$2,145$1,950

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,950
EXPENSES Loan Payment -$1,016
Property Tax -$693
Property Insurance -$153
Property Management Fees -$99
CASH FLOW
-$12

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.

$292,500

PROJECTED PRICE

$1,950

PROJECTED RENT

0.67%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 8.2%
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-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$83,263

INVESTMENT

$83,263

Down Payment
$73,125
Rehab Estimate
$5,750
Closing Costs
$4,388

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,016

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $73,125
Loan Amount $219,375
See What Happens When You Reinvest Cash Flow

4

YEARS SAVED

$11,072

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,950

    LIST RENT
  • $0.89

    LIST RENT PER SQFT
  • $1,920

    COMP ESTIMATED VALUE
  • $0.88

    COMP AVG. RENT PER SQFT
Comps Range
$1,850
1$1,8502$1,8953$1,9504$2,0005$2,100
$2,100
RENT COMPS ANALYSIS
  • 2017 Perry Drive Mansfield, TX 3
    • 4 beds 2 baths ∙ 2,182 Sqft ∙ Built 1995 4 beds 2 baths ∙ 2,182 Sqft ∙ Built 1995
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.89
    •  
  • 2308 Welch Place Mansfield, TX 1
    • 3 beds 2 baths ∙ 2,045 Sqft ∙ Built 1994 3 beds 2 baths ∙ 2,045 Sqft ∙ Built 1994
    property image
    LEASED 12/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.90
    •  
  • 2613 Country Grove Trail Mansfield, TX 2
    • 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
    •  
  • 2202 Richmond Circle Mansfield, TX 4
    • 4 beds 2 baths ∙ 2,321 Sqft ∙ Built 1997 4 beds 2 baths ∙ 2,321 Sqft ∙ Built 1997
    property image
    LEASED 01/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.86
    •  
  • 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
Rachael Brenneman
Dynamic Real Estate Group
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14500360
Last Updated: 01/15/2021
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