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2206 Laura Elizabeth Trail Mansfield, TX 76063

3 Beds 2 Baths 2,098 sqft Built 1998

$285,000

List Price

$1,870

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

November 14, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1998
  • Price/Sqft : $135.84
  • 2 Days on Market
  • MLS # : 14471560
  • Updated Date : 11/14/2020 at 16:15
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,098 sqft
  • Baths : 2 full
Listing Agent

Front Real Estate Co

Listing Agent's Description

Fantastic 3 bedroom 2 bath home with a pool located in exemplary Mansfield High attendance zone. The open floor plan features wood floors, a large island kitchen with gas stove, bar seating, breakfast area, and open to living room with fireplace. Spacious owners suite with dual sink vanity, separate tub and shower, and walk in closet. Bonus living space separates 2 other bedrooms and guest bath. A private office and formal dining room complete the interior. New roof installed November 2020. Fresh paint and new carpet November 2020. Outdoors is a patio, large pool, and plenty of yard. This home is move-in ready for its new owners.

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
 

$256,500$313,500$285,000

PURCHASE PRICE

$1,683$2,057$1,870

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,870
EXPENSES Loan Payment -$1,052
Property Tax -$676
Property Insurance -$148
Property Management Fees -$99
CASH FLOW
-$104

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.

$285,000

PROJECTED PRICE

$1,870

PROJECTED RENT

0.66%

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

PROJECTED ANNUAL CASH FLOW

11530-$6.0k-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$81,275

INVESTMENT

$81,275

Down Payment
$71,250
Rehab Estimate
$5,750
Closing Costs
$4,275

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,052

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $71,250
Loan Amount $213,750
See What Happens When You Reinvest Cash Flow

2.58

YEARS SAVED

$7,161

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,870

    LIST RENT
  • $0.89

    LIST RENT PER SQFT
  • $1,946

    COMP ESTIMATED VALUE
  • $0.93

    COMP AVG. RENT PER SQFT
Comps Range
$1,850
1$1,8502$1,8703$2,0754$2,1005$2,150
$2,150
RENT COMPS ANALYSIS
  • 2206 Laura Elizabeth Trail Mansfield, TX 2
    • 3 beds 2 baths ∙ 2,098 Sqft ∙ Built 1998 3 beds 2 baths ∙ 2,098 Sqft ∙ Built 1998
    • Rent
    • Rent Per SQFT
    •  
    • $1,870
    • $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
    LEASED 10/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.90
    •  
  • 511 Zachum Drive Arlington, TX 3
    • 4 beds 2 baths ∙ 2,236 Sqft ∙ Built 2004 4 beds 2 baths ∙ 2,236 Sqft ∙ Built 2004
    LEASED 11/26/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,075
    • $0.93
    •  
  • 1 Laura Elizabeth Court Mansfield, TX 4
    • 3 beds 2 baths ∙ 2,292 Sqft ∙ Built 1996 3 beds 2 baths ∙ 2,292 Sqft ∙ Built 1996
    LEASED 11/19/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.92
    •  
  • 2702 Hearthside Lane Mansfield, TX 5
    • 4 beds 2 baths ∙ 2,246 Sqft ∙ Built 2004 4 beds 2 baths ∙ 2,246 Sqft ∙ Built 2004
    LEASED 02/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $0.96
    •  
PROPERTY LISTING DETAILS
Casey Lewis
Front Real Estate Co
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14471560
Last Updated: 11/14/2020
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