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2108 Simpson Lane Mansfield, TX 76063

5 Beds 5 Baths 4,035 sqft Built 2021

$561,990

List Price

$2,630

$2.4K - $2.9K

Rent Est.

PROPERTY INFO

Built 2021 NEW CONSTRUCTION
December 07, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2021
  • Price/Sqft : $139.28
  • 7 Days on Market
  • MLS # : 14482670
  • Updated Date : 12/07/2020 at 21:00
CONSTRUCTION
  • Beds : 5
  • Floor Size : 4,035 sqft
  • Baths : 4 full , 1 half
Listing Agent

Classic Property Management

Listing Agent's Description

Gorgeous and Completely NEW Home by Bloomfield Homes, Move-In Ready April 2021! Two-story with Stone & Brick Exterior and Cedar Garage Doors. 5 Bed, 4.5 Bath, 3-car Garage with Oversized 3rd bay. Great for entertaining friends & family, this home also has a Game Room, Media Room, Formal Dining Room, and an open layout! Wood-look Tile Flooring in living areas. Gourmet Kitchen with Quartz countertops, SS Appliances and gas cooking. Granite countertops in all baths and laundry room. Mud Room with built-in storage. Family Room has Full Stone Fireplace and Vaulted Ceilings. Upstairs bdrms with ensuite full baths and walk-in closets. You don't want to miss out on this - call today to learn more!

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

Zip Code: 76063

ZipNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320kPrice in $123k336k

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

Zip Code: 76063

ZipNIR 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
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
 

$505,791$618,189$561,990

PURCHASE PRICE

$2,367$2,893$2,630

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,630
EXPENSES Loan Payment -$2,073
Property Tax -$1,332
Property Insurance -$260
HOA -$38
Property Management Fees -$99
CASH FLOW
-$1,172

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 10% of earned rent to cover both maintenance and periods of vacancy.

$561,990

PROJECTED PRICE

$2,630

PROJECTED RENT

0.47%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 7.1%
Maintenance Year (1-5) 3.00%
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$1.4M$1.6M

PROJECTED ANNUAL CASH FLOW

11530-$20k-$15k-$10k-$5.0k$0.0

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$150,927

INVESTMENT

$150,927

Down Payment
$140,498
Rehab Estimate
$2,000
Closing Costs
$8,430

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 100% down payment or higher enables the proceeds from the asset to cover all costs.

$2,073

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $140,498
Loan Amount $421,493
See What Happens When You Reinvest Cash Flow

-0.25

YEARS SAVED

-$73

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,630

    LIST RENT
  • $0.65

    LIST RENT PER SQFT
  • $2,582

    COMP ESTIMATED VALUE
  • $0.64

    COMP AVG. RENT PER SQFT
Comps Range
$2,400
1$2,4002$2,630
$2,630
RENT COMPS ANALYSIS
  • 2108 Simpson Lane Mansfield, TX 2
    • 5 beds 5 baths ∙ 4,035 Sqft ∙ Built 2021 5 beds 5 baths ∙ 4,035 Sqft ∙ Built 2021
    • Rent
    • Rent Per SQFT
    •  
    • $2,630
    • $0.65
    •  
  • 1103 Doubletree Lane Mansfield, TX 1
    • 5 beds 4 baths ∙ 3,722 Sqft ∙ Built 2005 5 beds 4 baths ∙ 3,722 Sqft ∙ Built 2005
    LEASED 08/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $0.64
    •  
PROPERTY LISTING DETAILS
Marsha Ashlock
Classic Property Management
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14482670
Last Updated: 12/07/2020
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