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202 Rock Tree Court Mansfield, TX 76063

4 Beds 3 Baths 3,285 sqft Built 2013

INVESTimate

$424,000

List Price

$2,740

$2,490 - $2,990

Rent Est.

$454,019  ( +7.08%)   1 YR EST. FORECAST

PROPERTY INFO

August 20, 2020 RECENTLY ADDED
FACTS
  • Built In 2013
  • Price/Sqft : $129.07
  • 7 Days on Market
  • MLS # : 14410382
  • Updated Date : 08/24/2020 at 16:08
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,285 sqft
  • Baths : 3 full
Listing Agent

Wright Real Estate Brokerage

Listing Agent's Description

Meticulously maintained, custom finishes & desirable schools! Located on an oversized homesite that backs to a field providing a peaceful view from the large backyard, covered patio or wall of windows. High-end finishes include plantation shutters, handscraped wood floors, tankless water heater, granite counters, oversized baseboards & crown molding! Floorplan features downstairs guest bedroom & full bathroom, office, formal dining room, upstairs game room & oversized bedrooms! At the center of the open concept plan is a gourmet kitchen with custom wood cabinets & gas cooktop. The luxurious master bath has 2 furniture-style vanities, garden tub & HUGE walk-in shower with rainfall head, frameless glass & bench.

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: Cedar Oaks

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360k380k400k420kPrice in $123k421k

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

Neighborhood: Cedar Oaks

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21200140016001800200022002400260028003000Rent in $11263154

* 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
Donna Shepard Intermediate School Primary Regular 877 53 6
Linda Jobe Middle School Middle Regular 809 53 8
Mansfield Legacy High School High Regular 1,945 103 6

Donna Shepard Intermediate School

  • Education Level: Primary
  • # of students: 877
  • # of teachers: 53
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
 

$381,600$466,400$424,000

PURCHASE PRICE

$2,466$3,014$2,740

RENT

DOWN PAYMENT
FINANCING

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-$5.0k$0.0$5.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,740
EXPENSES Loan Payment -$1,564
Property Tax -$1,005
Property Insurance -$217
HOA -$42
Property Management Fees -$99
CASH FLOW
-$187

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.

$424,000

PROJECTED PRICE

$2,740

PROJECTED RENT

0.65%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 7.08%
Maintenance Year (1-5) 8.00%
Vacancy 6.93%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$118,110

INVESTMENT

$118,110

Down Payment
$106,000
Rehab Estimate
$5,750
Closing Costs
$6,360

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$1,564

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $106,000
Loan Amount $318,000
See What Happens When You Reinvest Cash Flow

2.25

YEARS SAVED

$8,206

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,740

    LIST RENT
  • $0.83

    LIST RENT PER SQFT
  • $2,409

    COMP ESTIMATED VALUE
  • $0.73

    COMP AVG. RENT PER SQFT
Comps Range
$2,400
1$2,4002$2,5753$2,5954$2,740
$2,740
RENT COMPS ANALYSIS
  • 202 Rock Tree Court Mansfield, TX 4
    • 4 beds 3 baths ∙ 3,285 Sqft ∙ Built 2013 4 beds 3 baths ∙ 3,285 Sqft ∙ Built 2013
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,740
    • $0.83
    •  
  • 875 Tate Street Mansfield, TX 1
    • 4 beds 3 baths ∙ 3,226 Sqft ∙ Built 2000 4 beds 3 baths ∙ 3,226 Sqft ∙ Built 2000
    property image
    LEASED 04/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $0.74
    •  
  • 3220 Essex Drive Mansfield, TX 2
    • 5 beds 4 baths ∙ 3,511 Sqft ∙ Built 1998 5 beds 4 baths ∙ 3,511 Sqft ∙ Built 1998
    property image
    LEASED 06/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,575
    • $0.73
    •  
  • 1310 Tanglewood Drive Mansfield, TX 3
    • 4 beds 3 baths ∙ 3,566 Sqft ∙ Built 1999 4 beds 3 baths ∙ 3,566 Sqft ∙ Built 1999
    property image
    LEASED 07/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,595
    • $0.73
    •  
PROPERTY LISTING DETAILS
Brandi Wright
Wright Real Estate Brokerage
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14410382
Last Updated: 08/24/2020
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