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211 Bayfield Drive Mansfield, TX 76063

3 Beds 2 Baths 1,761 sqft Built 2005

$258,000

List Price

$1,800

$1.6K - $2K

Rent Est.

PROPERTY INFO

November 13, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2005
  • Price/Sqft : $146.51
  • 3 Days on Market
  • MLS # : 14469918
  • Updated Date : 11/13/2020 at 09:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,761 sqft
  • Baths : 2 full
Listing Agent

Davey Goosmann Realty

Listing Agent's Description

This is an Owner Agent home. Fabulous home that backs to a jogging trail that leads to community pool, soccer field and playground. Interior with open kitchen living and dining. Corner fireplace with crown moldings. Updated paint and arched doorways. Covered back patio and an existing garden. The kitchen has been updated with new counters, backsplash, sink, sink faucet and garbage disposal. A new roof was completed in the summer of 2020. This home will sell fast.

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: The Villages at Spring Lake

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320kPrice in $123k336k

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

Neighborhood: The Villages at Spring Lake

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2120013001400150016001700180019002000210022002300Rent in $11262344

* 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
Elizabeth Smith Elementary School Primary Regular 706 43 9
Danny Jones Middle School Middle Regular 843 51 9
Mansfield Lake Ridge High School High Unknown 2,085 113 NA

Elizabeth Smith Elementary School

  • Education Level: Primary
  • # of students: 706
  • # of teachers: 43
9
GreatSchools Rating

Danny Jones Middle School

  • Education Level: Middle
  • # of students: 843
  • # of teachers: 51
9
GreatSchools Rating

Mansfield Lake Ridge High School

  • Education Level: High
  • # of students: 2,085
  • # of teachers: 113
NA
GreatSchools Rating
 

$232,200$283,800$258,000

PURCHASE PRICE

$1,620$1,980$1,800

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,800
EXPENSES Loan Payment -$952
Property Tax -$612
Property Insurance -$129
HOA -$37
Property Management Fees -$99
CASH FLOW
-$28

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.

$258,000

PROJECTED PRICE

$1,800

PROJECTED RENT

0.70%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 6.7%
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$100k$200k$300k$400k$500k$600k$700k$800k

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$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$74,120

INVESTMENT

$74,120

Down Payment
$64,500
Rehab Estimate
$5,750
Closing Costs
$3,870

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$952

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $64,500
Loan Amount $193,500
See What Happens When You Reinvest Cash Flow

3.67

YEARS SAVED

$10,842

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,800

    LIST RENT
  • $1.02

    LIST RENT PER SQFT
  • $1,827

    COMP ESTIMATED VALUE
  • $1.04

    COMP AVG. RENT PER SQFT
Comps Range
$1,750
1$1,7502$1,8003$1,8504$1,8805$1,925
$1,925
RENT COMPS ANALYSIS
  • 211 Bayfield Drive Mansfield, TX 2
    • 3 beds 2 baths ∙ 1,761 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,761 Sqft ∙ Built 2005
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $1.02
    •  
  • 4701 Ashbury Lane Mansfield, TX 1
    • 4 beds 2 baths ∙ 1,666 Sqft ∙ Built 2006 4 beds 2 baths ∙ 1,666 Sqft ∙ Built 2006
    LEASED 09/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $1.05
    •  
  • 95 Forest Glen Drive Mansfield, TX 3
    • 4 beds 2 baths ∙ 1,830 Sqft ∙ Built 2005 4 beds 2 baths ∙ 1,830 Sqft ∙ Built 2005
    LEASED 10/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $1.01
    •  
  • 4427 Emerald Leaf Drive Mansfield, TX 4
    • 3 beds 2 baths ∙ 1,768 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,768 Sqft ∙ Built 2002
    LEASED 05/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,880
    • $1.06
    •  
  • 803 Meadowbrook Lane Mansfield, TX 5
    • 4 beds 2 baths ∙ 1,872 Sqft ∙ Built 2004 4 beds 2 baths ∙ 1,872 Sqft ∙ Built 2004
    LEASED 06/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,925
    • $1.03
    •  
PROPERTY LISTING DETAILS
James Thomas
Davey Goosmann Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14469918
Last Updated: 11/13/2020
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