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2414 Rawlins Lane Mansfield, TX 76084

4 Beds 2 Baths 2,217 sqft Built 2020

$381,914

List Price

$2,170

$2K - $2.4K

Rent Est.

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
January 18, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2020
  • Price/Sqft : $172.27
  • 8 Days on Market
  • MLS # : 14501542
  • Updated Date : 01/17/2021 at 12:53
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,217 sqft
  • Baths : 2 full
Listing Agent

Knob & Key Realty Partners Llc

Listing Agent's Description

NEW JOHN HOUSTON HOME IN SOMERSET IN MANSFIELD IN MANSFIELD ISD. This Boise plan features 4 bedrooms, 2 bathrooms, extended back covered patio, master bay window, 22and 3 car garage. Upgrades include painted cabinets, hardwood flooring, upgraded tile selections, and much more. READY IN JANUARY!

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

Zip Code: 76084

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280kPrice in $101k290k

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

Zip Code: 76084

ZipNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700180019002000Rent in $9872016

* 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
Mary Orr Intermediate School Primary Regular 845 53 7
Mary Orr Intermediate School Middle Regular 845 53 7
Mansfield Lake Ridge High School High Unknown 2,085 113 NA

Mary Orr Intermediate School

  • Education Level: Primary
  • # of students: 845
  • # of teachers: 53
7
GreatSchools Rating

Mary Orr Intermediate School

  • Education Level: Middle
  • # of students: 845
  • # of teachers: 53
7
GreatSchools Rating

Mansfield Lake Ridge High School

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

$343,723$420,105$381,914

PURCHASE PRICE

$1,953$2,387$2,170

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,170
EXPENSES Loan Payment -$1,327
Property Tax -$971
Property Insurance -$155
HOA -$57
Property Management Fees -$99
CASH FLOW
-$438

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 9% of earned rent to cover both maintenance and periods of vacancy.

$381,914

PROJECTED PRICE

$2,170

PROJECTED RENT

0.57%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 6.6%
Maintenance Year (1-5) 3.00%
Vacancy 6.39%
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-$10k-$8.0k-$6.0k-$4.0k-$2.0k$0.0$2.0k

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$103,207

INVESTMENT

$103,207

Down Payment
$95,479
Rehab Estimate
$2,000
Closing Costs
$5,729

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$1,327

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $95,479
Loan Amount $286,436
See What Happens When You Reinvest Cash Flow

0.17

YEARS SAVED

$94

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,170

    LIST RENT
  • $0.98

    LIST RENT PER SQFT
  • $2,139

    COMP ESTIMATED VALUE
  • $0.97

    COMP AVG. RENT PER SQFT
Comps Range
$1,800
1$1,8002$1,8503$2,1004$2,1705$2,300
$2,300
RENT COMPS ANALYSIS
  • 2414 Rawlins Lane Mansfield, TX 4
    • 4 beds 2 baths ∙ 2,217 Sqft ∙ Built 2020 4 beds 2 baths ∙ 2,217 Sqft ∙ Built 2020
    • Rent
    • Rent Per SQFT
    •  
    • $2,170
    • $0.98
    •  
  • 1505 Cowtown Drive Mansfield, TX 1
    • 4 beds 2 baths ∙ 1,888 Sqft ∙ Built 2006 4 beds 2 baths ∙ 1,888 Sqft ∙ Built 2006
    LEASED 08/14/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.95
    •  
  • 1024 Cutting Horse Drive Mansfield, TX 2
    • 4 beds 2 baths ∙ 1,993 Sqft ∙ Built 2003 4 beds 2 baths ∙ 1,993 Sqft ∙ Built 2003
    LEASED 07/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.93
    •  
  • 3509 Weyburn Drive Mansfield, TX 3
    • 3 beds 2 baths ∙ 2,165 Sqft ∙ Built 2018 3 beds 2 baths ∙ 2,165 Sqft ∙ Built 2018
    LEASED 08/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.97
    •  
  • 1606 Cowtown Drive Mansfield, TX 5
    • 3 beds 2 baths ∙ 2,288 Sqft ∙ Built 2015 3 beds 2 baths ∙ 2,288 Sqft ∙ Built 2015
    LEASED 09/03/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.01
    •  
PROPERTY LISTING DETAILS
Alan Simonton
Knob & Key Realty Partners Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14501542
Last Updated: 01/17/2021
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