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

2609 Parkhurst Lane Mansfield, TX 76084

3 Beds 2 Baths 2,314 sqft Built 2021

$386,990

List Price

$2,180

$2K - $2.4K

Rent Est.

PROPERTY INFO

Built 2021 NEW CONSTRUCTION
December 23, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2021
  • Price/Sqft : $167.24
  • 5 Days on Market
  • MLS # : 14490301
  • Updated Date : 12/23/2020 at 17:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,314 sqft
  • Baths : 2 full
Listing Agent

Classic Property Management

Listing Agent's Description

Totally New Home, Move-In Ready at end of January 2021! Built by Bloomfield Homes, this one-story has 3 beds. 2 baths and 2.5-car garage. Rotunda entry. Upgraded 12x24 tile in entry, foyer, family room, kitchen & breakfast nook. Beautiful Deluxe Kitchen with Built-in SS Appliances, 5-burner Gas Cooktop, and walk-in pantry. Fireplace in Family Room. Extended Covered back Patio with Ceiling fan. Study off entrance with walk-in closet, could be used as additional bdrm. Plenty of storage throughout home. Large Owner's Suite with sitting area and Ensuite Bath. Formal Dining Room. Home comes fenced, fully landscaped, and with sprinkler system. Community has great amenities. Call or visit today to learn more!

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: 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
 

$348,291$425,689$386,990

PURCHASE PRICE

$1,962$2,398$2,180

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,180
EXPENSES Loan Payment -$1,428
Property Tax -$984
Property Insurance -$161
HOA -$54
Property Management Fees -$99
CASH FLOW
-$545

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.

$386,990

PROJECTED PRICE

$2,180

PROJECTED RENT

0.56%

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

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$104,552

INVESTMENT

$104,552

Down Payment
$96,748
Rehab Estimate
$2,000
Closing Costs
$5,805

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 75% down payment or higher enables the proceeds from the asset to cover all costs.

$1,428

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $96,748
Loan Amount $290,243
See What Happens When You Reinvest Cash Flow

0.08

YEARS SAVED

$22

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,180

    LIST RENT
  • $0.94

    LIST RENT PER SQFT
  • $2,210

    COMP ESTIMATED VALUE
  • $0.96

    COMP AVG. RENT PER SQFT
Comps Range
$1,850
1$1,8502$1,8503$2,1004$2,1805$2,300
$2,300
RENT COMPS ANALYSIS
  • 2609 Parkhurst Lane Mansfield, TX 4
    • 3 beds 2 baths ∙ 2,314 Sqft ∙ Built 2021 3 beds 2 baths ∙ 2,314 Sqft ∙ Built 2021
    • Rent
    • Rent Per SQFT
    •  
    • $2,180
    • $0.94
    •  
  • 1024 Cutting Horse Drive Mansfield, TX 1
    • 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
    •  
  • 813 Cutting Horse Drive Mansfield, TX 2
    • 4 beds 2 baths ∙ 2,040 Sqft ∙ Built 2006 4 beds 2 baths ∙ 2,040 Sqft ∙ Built 2006
    LEASED 10/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.91
    •  
  • 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
Marsha Ashlock
Classic Property Management
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14490301
Last Updated: 12/23/2020
BESbswy