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2109 Melissa Diane Street Mansfield, TX 76063

4 Beds 3 Baths 2,249 sqft Built 1996

$299,500

List Price

$1,960

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

January 09, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1996
  • Price/Sqft : $133.17
  • 3 Days on Market
  • MLS # : 14496160
  • Updated Date : 01/09/2021 at 12:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,249 sqft
  • Baths : 3 full
Listing Agent

Jason Brooks Realty, Inc

Listing Agent's Description

Single story gem of a home. PRICED TO SELL. Room for everyone in this 4 bedroom, 3 full bath home. Large and inviting foyer with formal dining room and multi-use room for study, teaching or formal living. Vaulted ceilings enhanced with crown molding. HARDWOOD FLOORS. Master en suite is spacious and separate from three secondary bedrooms. MAGNOLIA home theme kitchen. Functional and beautiful, upgraded with new SS appliances, painted cabinets, shiplap. Island AND breakfast bar. Updated lighting and ceiling fans. Plantation shutters. Dedicated laundry room with folding shelf. Backyard patio with nice yard and custom shed. Desirable location with NO HOA, exemplary schools.

SEE MORE

MARKET HIGHLIGHTS

  • # 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)
  • . Dallas has 7th largest concentration of high-tech jobs in the U.S. (Dallas Chamber)

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
 

$269,550$329,450$299,500

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 -$1,040
Property Tax -$710
Property Insurance -$157
Property Management Fees -$99
CASH FLOW
-$46

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.

$299,500

PROJECTED PRICE

$1,960

PROJECTED RENT

0.65%

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

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$85,118

INVESTMENT

$85,118

Down Payment
$74,875
Rehab Estimate
$5,750
Closing Costs
$4,493

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,040

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $74,875
Loan Amount $224,625
See What Happens When You Reinvest Cash Flow

3.42

YEARS SAVED

$9,113

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
  • $1,934

    COMP ESTIMATED VALUE
  • $0.86

    COMP AVG. RENT PER SQFT
Comps Range
$1,895
1$1,8952$1,9503$1,9604$2,0005$2,195
$2,195
RENT COMPS ANALYSIS
  • 2109 Melissa Diane Street Mansfield, TX 3
    • 4 beds 3 baths ∙ 2,249 Sqft ∙ Built 1996 4 beds 3 baths ∙ 2,249 Sqft ∙ Built 1996
    • 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
    LEASED 03/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.84
    •  
  • 2518 Edgefield Trail Mansfield, TX 2
    • 4 beds 2 baths ∙ 2,356 Sqft ∙ Built 2001 4 beds 2 baths ∙ 2,356 Sqft ∙ Built 2001
    LEASED 03/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.83
    •  
  • 2202 Richmond Circle Mansfield, TX 4
    • 4 beds 2 baths ∙ 2,321 Sqft ∙ Built 1997 4 beds 2 baths ∙ 2,321 Sqft ∙ Built 1997
    LEASED 01/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.86
    •  
  • 2623 Morgan Ann Avenue Mansfield, TX 5
    • 4 beds 2 baths ∙ 2,412 Sqft ∙ Built 2001 4 beds 2 baths ∙ 2,412 Sqft ∙ Built 2001
    LEASED 07/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,195
    • $0.91
    •  
PROPERTY LISTING DETAILS
Callie Farr
Jason Brooks Realty, Inc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14496160
Last Updated: 01/09/2021
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