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2306 Primrose Trail Mansfield, TX 76063

4 Beds 2 Baths 2,320 sqft Built 2004

$300,000

List Price

$1,960

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

January 21, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2004
  • Price/Sqft : $129.31
  • 4 Days on Market
  • MLS # : 14492022
  • Updated Date : 01/22/2021 at 10:15
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,320 sqft
  • Baths : 2 full
Listing Agent

Jp And Associates Arlington

Listing Agent's Description

BEAUTIFUL MOVE IN READY MANSFIELD HOME! Great floorplan with room for everyone! Front room as endless options, HUGE family room in the back of the home is perfect for gatherings, open kitchen has tons of cabinet & counter space! Sunny breakfast room is perfect for morning coffee and meals with the family! Split bedrooms, large master & HGTV inspired fully remolded master bathroom! Perfect location in the heart of Mansfield!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • # 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)

PRICE & RENT TRENDS

Neighborhood: Walnut Hills

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320kPrice in $123k336k

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

Neighborhood: Walnut Hills

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
 

$270,000$330,000$300,000

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 -$1,042
Property Tax -$711
Property Insurance -$161
HOA -$11
Property Management Fees -$99
CASH FLOW
-$64

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.

$300,000

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) 10.1%
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$85,250

INVESTMENT

$85,250

Down Payment
$75,000
Rehab Estimate
$5,750
Closing Costs
$4,500

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,042

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $75,000
Loan Amount $225,000
See What Happens When You Reinvest Cash Flow

3.17

YEARS SAVED

$7,909

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
  • $0.84

    LIST RENT PER SQFT
  • $2,088

    COMP ESTIMATED VALUE
  • $0.9

    COMP AVG. RENT PER SQFT
Comps Range
$1,895
1$1,8952$1,9603$2,0504$2,1505$2,295
$2,295
RENT COMPS ANALYSIS
  • 2306 Primrose Trail Mansfield, TX 2
    • 4 beds 2 baths ∙ 2,320 Sqft ∙ Built 2004 4 beds 2 baths ∙ 2,320 Sqft ∙ Built 2004
    • Rent
    • Rent Per SQFT
    •  
    • $1,960
    • $0.84
    •  
  • 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
    •  
  • 2702 Pyramid Lane Mansfield, TX 3
    • 3 beds 2 baths ∙ 2,320 Sqft ∙ Built 2004 3 beds 2 baths ∙ 2,320 Sqft ∙ Built 2004
    LEASED 06/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,050
    • $0.88
    •  
  • 2702 Hearthside Lane Mansfield, TX 4
    • 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
    •  
  • 2310 Laura Elizabeth Trail Mansfield, TX 5
    • 4 beds 2 baths ∙ 2,506 Sqft ∙ Built 2002 4 beds 2 baths ∙ 2,506 Sqft ∙ Built 2002
    LEASED 06/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,295
    • $0.92
    •  
PROPERTY LISTING DETAILS
Valery Boyer
Jp And Associates Arlington
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14492022
Last Updated: 01/22/2021
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