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2612 Edgefield Trail Mansfield, TX 76063

4 Beds 3 Baths 2,758 sqft Built 2003

$364,900

List Price

$2,240

$2K - $2.5K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 21, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2003
  • Price/Sqft : $132.31
  • 8 Days on Market
  • MLS # : 14519991
  • Updated Date : 02/23/2021 at 16:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,758 sqft
  • Baths : 2 full , 1 half
Listing Agent

Jp And Associates Realtors

Listing Agent's Description

Welcome home to your 4 bedroom 2.5 bathrooms newly updated paint, flooring, and SS appliances. This farmhouse style home is located in an established neighborhood in Mansfield ISD with a backyard oasis that creates an exclusive entertainment atmosphere with a POOL that is ready to go for the summer! The first flooring living includes a formal dining, large kitchen with lots of storage and double pantry, living room with a farmhouse fireplace, eat in kitchen space, and half bath. The second floor includes 4 large bedrooms, 2 full bathrooms, second living space, and utility. Don't miss your chance to see this home today. EASY ACCESS TO WALNUT CREEK COUNTRY CLUB, MAJOR HIGHWAYS, RESTAURANTS AND PARKS.

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

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
 

$328,410$401,390$364,900

PURCHASE PRICE

$2,016$2,464$2,240

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,240
EXPENSES Loan Payment -$1,267
Property Tax -$865
Property Insurance -$187
Property Management Fees -$99
CASH FLOW
-$178

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.

$364,900

PROJECTED PRICE

$2,240

PROJECTED RENT

0.61%

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-$8.0k-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$102,449

INVESTMENT

$102,449

Down Payment
$91,225
Rehab Estimate
$5,750
Closing Costs
$5,474

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$1,267

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $91,225
Loan Amount $273,675
See What Happens When You Reinvest Cash Flow

1.67

YEARS SAVED

$4,478

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,240

    LIST RENT
  • $0.81

    LIST RENT PER SQFT
  • $2,262

    COMP ESTIMATED VALUE
  • $0.82

    COMP AVG. RENT PER SQFT
Comps Range
$2,125
1$2,1252$2,1903$2,2404$2,3455$2,395
$2,395
RENT COMPS ANALYSIS
  • 2612 Edgefield Trail Mansfield, TX 3
    • 4 beds 3 baths ∙ 2,758 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,758 Sqft ∙ Built 2003
    • Rent
    • Rent Per SQFT
    •  
    • $2,240
    • $0.81
    •  
  • 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
    •  
  • 2410 Windcastle Drive Mansfield, TX 4
    • 4 beds 3 baths ∙ 2,700 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,700 Sqft ∙ Built 2005
    LEASED 01/07/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,345
    • $0.87
    •  
  • 2310 Grimsley Terrace Mansfield, TX 5
    • 5 beds 3 baths ∙ 2,670 Sqft ∙ Built 1993 5 beds 3 baths ∙ 2,670 Sqft ∙ Built 1993
    LEASED 04/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,395
    • $0.90
    •  
PROPERTY LISTING DETAILS
Sarah Hallum
Jp And Associates Realtors
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14519991
Last Updated: 02/23/2021
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