Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

2600 Collier Street Mansfield, TX 76063

4 Beds 3 Baths 4,234 sqft Built 2020

$650,000

List Price

$3,010

$2.8K - $3.3K

Rent Est.

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
October 29, 2020 RECENTLY ADDED
FACTS
  • Built In 2020
  • Price/Sqft : $153.52
  • 6 Days on Market
  • MLS # : 14461824
  • Updated Date : 10/29/2020 at 11:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 4,234 sqft
  • Baths : 3 full
Listing Agent

Jp And Associates Southlake

Listing Agent's Description

2020 built Grand Home with a gorgeous double staircase wrought iron spindles when entering in. Spacious 4 bedroom(Mother in law suite), 4 living home has vaulted family room, game room, game table loft & media room. Amenities galore include tons of wood floors Kitchen has granite top, stainless steel appliances, double ovens, commercial 6 burner gas cook top, island. closet Master Bath having free standing tub & separate vanities & convenient door to utility. Energy Star certified with R 38, 16 SEER & radiant barrier roof. Neighborhood community pool, trails, pond & sport field.

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

Zip Code: 76063

ZipNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320kPrice in $123k336k

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

Zip Code: 76063

ZipNIR 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
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
 

$585,000$715,000$650,000

PURCHASE PRICE

$2,709$3,311$3,010

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,010
EXPENSES Loan Payment -$2,398
Property Tax -$1,474
Property Insurance -$272
HOA -$38
Property Management Fees -$99
CASH FLOW
-$1,271

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 10% of earned rent to cover both maintenance and periods of vacancy.

$650,000

PROJECTED PRICE

$3,010

PROJECTED RENT

0.46%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 7.1%
Maintenance Year (1-5) 3.00%
Vacancy 6.93%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$500k$1.0M$1.5M$2.0M

PROJECTED ANNUAL CASH FLOW

11530-$20k-$15k-$10k-$5.0k$0.0

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$174,250

INVESTMENT

$174,250

Down Payment
$162,500
Rehab Estimate
$2,000
Closing Costs
$9,750

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 100% down payment or higher enables the proceeds from the asset to cover all costs.

$2,398

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $162,500
Loan Amount $487,500
See What Happens When You Reinvest Cash Flow

-0.17

YEARS SAVED

-$55

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,010

    LIST RENT
  • $0.71

    LIST RENT PER SQFT
  • $3,091

    COMP ESTIMATED VALUE
  • $0.73

    COMP AVG. RENT PER SQFT
Comps Range
$2,750
1$2,7502$3,0103$3,200
$3,200
RENT COMPS ANALYSIS
  • 2600 Collier Street Mansfield, TX 2
    • 4 beds 3 baths ∙ 4,234 Sqft ∙ Built 2020 4 beds 3 baths ∙ 4,234 Sqft ∙ Built 2020
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $3,010
    • $0.71
    •  
  • 4014 Birdie Drive Mansfield, TX 1
    • 5 beds 4 baths ∙ 3,885 Sqft ∙ Built 2006 5 beds 4 baths ∙ 3,885 Sqft ∙ Built 2006
    property image
    LEASED 03/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,750
    • $0.71
    •  
  • 4205 Iron Lane Mansfield, TX 3
    • 5 beds 4 baths ∙ 4,294 Sqft ∙ Built 2003 5 beds 4 baths ∙ 4,294 Sqft ∙ Built 2003
    property image
    LEASED 07/13/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $0.75
    •  
PROPERTY LISTING DETAILS
Hoang Nguyen
Jp And Associates Southlake
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14461824
Last Updated: 10/29/2020
BESbswy