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2416 Hillary Trail Mansfield, TX 76063

3 Beds 2 Baths 1,978 sqft Built 2001

$280,000

List Price

$1,890

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

February 04, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2001
  • Price/Sqft : $141.56
  • 4 Days on Market
  • MLS # : 14506984
  • Updated Date : 02/06/2021 at 08:14
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,978 sqft
  • Baths : 2 full
Listing Agent

Century 21 Judge Fite Company

Listing Agent's Description

BEAUTIFUL METICULOUSLY MAINTAINED FAMILY HOME LOCATED IN MANSFIELD ISD! 3 BEDROOM 2 BATH PLUS ADDITIONAL ROOM FOR AN OFFICE OR 2ND LIVING SPACE. THE COZY LIVING AREA FEATURES STRAND BAMBOO FLOORING, TILE FIREPLACE & CROWN MOLDING. THE KITCHEN IS OVERSIZED WITH SHINY MARBLE COUNTERTOPS, ARCHED DOORWAY, BLACK APPLIANCES, PANTRY & LARGE BREAKFAST BAR AREA. SPACIOUS MASTER BEDROOM HAS CROWN MOLDING, VAULTED CEILING, DUAL SINKS & VANITIES, GARDEN TUB, SEPARATE SHOWER & WALK-IN CLOSET. THE BACKYARD IS PROMINENT WITH AN IMMENSE COVERED PATIO AREA, OUTDOOR CEILING FAN FOR TEXAS SUMMERS & MAINTAINED LANDSCAPING. LARGE 3 CAR TANDEM GARAGE. EASY ACCESS TO WALNUT CREEK COUNTRY CLUB, MAJOR HIGHWAYS, RESTAURANTS AND PARKS.

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: 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
Rogene Worley Middle School Middle Regular 929 55 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

Rogene Worley Middle School

  • Education Level: Middle
  • # of students: 929
  • # of teachers: 55
7
GreatSchools Rating

Mansfield High School

  • Education Level: High
  • # of students: 2,333
  • # of teachers: 123
8
GreatSchools Rating
 

$252,000$308,000$280,000

PURCHASE PRICE

$1,701$2,079$1,890

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,890
EXPENSES Loan Payment -$973
Property Tax -$664
Property Insurance -$142
Property Management Fees -$99
CASH FLOW
$13

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.

$280,000

PROJECTED PRICE

$1,890

PROJECTED RENT

0.68%

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$10k

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$79,950

INVESTMENT

$79,950

Down Payment
$70,000
Rehab Estimate
$5,750
Closing Costs
$4,200

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$973

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $70,000
Loan Amount $210,000
See What Happens When You Reinvest Cash Flow

4.42

YEARS SAVED

$12,380

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,890

    LIST RENT
  • $0.96

    LIST RENT PER SQFT
  • $1,884

    COMP ESTIMATED VALUE
  • $0.95

    COMP AVG. RENT PER SQFT
Comps Range
$1,825
1$1,8252$1,8453$1,8504$1,8905$1,900
$1,900
RENT COMPS ANALYSIS
  • 2416 Hillary Trail Mansfield, TX 4
    • 3 beds 2 baths ∙ 1,978 Sqft ∙ Built 2001 3 beds 2 baths ∙ 1,978 Sqft ∙ Built 2001
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,890
    • $0.96
    •  
  • 8172 La Frontera Trail Arlington, TX 1
    • 3 beds 2 baths ∙ 1,923 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,923 Sqft ∙ Built 2006
    property image
    LEASED 11/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,825
    • $0.95
    •  
  • 8408 Olivia Meadow Drive Arlington, TX 2
    • 3 beds 2 baths ∙ 1,868 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,868 Sqft ∙ Built 2005
    property image
    LEASED 05/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,845
    • $0.99
    •  
  • 2308 Welch Place Mansfield, TX 3
    • 3 beds 2 baths ∙ 2,045 Sqft ∙ Built 1994 3 beds 2 baths ∙ 2,045 Sqft ∙ Built 1994
    property image
    LEASED 12/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.90
    •  
  • 511 Promise Creek Drive Arlington, TX 5
    • 3 beds 2 baths ∙ 1,959 Sqft ∙ Built 2007 3 beds 2 baths ∙ 1,959 Sqft ∙ Built 2007
    property image
    LEASED 02/01/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.97
    •  
PROPERTY LISTING DETAILS
Sarah Padgett
Century 21 Judge Fite Company
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14506984
Last Updated: 02/06/2021
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