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2606 Elliott Avenue Mansfield, TX 76063

4 Beds 4 Baths 2,958 sqft Built 2003

$349,900

List Price

$2,330

$2.1K - $2.6K

Rent Est.

PROPERTY INFO

January 08, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2003
  • Price/Sqft : $118.29
  • 3 Days on Market
  • MLS # : 14492878
  • Updated Date : 01/08/2021 at 03:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,958 sqft
  • Baths : 3 full , 1 half
Listing Agent

Fathom Realty Llc

Listing Agent's Description

This STUNNING Home is a MUST SEE! Features 4 Bedroom, 3.1 Bath, 2 Living, 2 Dining, Covered Front Porch & Back Patio. Main suite located on first floor with walk in closet, double sinks, Jetted tub & separate shower. Another suite located upstairs, perfect for extended family! Oversized Kitchen with Butler Pantry, Stainless Steel Appliances. Property comes with a Transferable Home Warranty Policy good thru August 2025. You will not want to miss out on this Gorgeous home!

SEE MORE

MARKET HIGHLIGHTS

  • # 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)
  • . Dallas has 7th largest concentration of high-tech jobs in the U.S. (Dallas Chamber)

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
 

$314,910$384,890$349,900

PURCHASE PRICE

$2,097$2,563$2,330

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,330
EXPENSES Loan Payment -$1,215
Property Tax -$829
Property Insurance -$198
Property Management Fees -$99
CASH FLOW
-$12

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.

$349,900

PROJECTED PRICE

$2,330

PROJECTED RENT

0.67%

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$1.2M

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

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$98,474

INVESTMENT

$98,474

Down Payment
$87,475
Rehab Estimate
$5,750
Closing Costs
$5,249

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,215

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $87,475
Loan Amount $262,425
See What Happens When You Reinvest Cash Flow

3.92

YEARS SAVED

$13,138

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,330

    LIST RENT
  • $0.79

    LIST RENT PER SQFT
  • $2,300

    COMP ESTIMATED VALUE
  • $0.78

    COMP AVG. RENT PER SQFT
Comps Range
$2,125
1$2,1252$2,1903$2,1954$2,3305$2,550
$2,550
RENT COMPS ANALYSIS
  • 2606 Elliott Avenue Mansfield, TX 4
    • 4 beds 4 baths ∙ 2,958 Sqft ∙ Built 2003 4 beds 4 baths ∙ 2,958 Sqft ∙ Built 2003
    • Rent
    • Rent Per SQFT
    •  
    • $2,330
    • $0.79
    •  
  • 9101 Rainland Drive Arlington, TX 1
    • 4 beds 3 baths ∙ 2,875 Sqft ∙ Built 2008 4 beds 3 baths ∙ 2,875 Sqft ∙ Built 2008
    LEASED 02/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,125
    • $0.74
    •  
  • 607 Cunningham Drive Arlington, TX 2
    • 4 beds 3 baths ∙ 2,828 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,828 Sqft ∙ Built 2006
    LEASED 05/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,190
    • $0.77
    •  
  • 9206 Water Oak Drive Arlington, TX 3
    • 4 beds 3 baths ∙ 2,837 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,837 Sqft ∙ Built 2006
    LEASED 11/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,195
    • $0.77
    •  
  • 2613 Morgan Ann Avenue Mansfield, TX 5
    • 4 beds 3 baths ∙ 3,066 Sqft ∙ Built 2001 4 beds 3 baths ∙ 3,066 Sqft ∙ Built 2001
    LEASED 08/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,550
    • $0.83
    •  
PROPERTY LISTING DETAILS
Kaylan Baucom
Fathom Realty Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14492878
Last Updated: 01/08/2021
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