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2614 Hardwood Trail Mansfield, TX 76063

4 Beds 2 Baths 2,309 sqft Built 2005

$299,900

List Price

$2,100

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

January 23, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2005
  • Price/Sqft : $129.88
  • 2 Days on Market
  • MLS # : 14505225
  • Updated Date : 01/23/2021 at 19:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,309 sqft
  • Baths : 2 full
Listing Agent

Exp Realty Llc

Listing Agent's Description

Wonderful one story, 4 bedroom home, in popular Trails subdivision. Lovely community greenbelts and pool. Great Mansfield location with easy access to shopping, schools, restaurants and 287. Features formal dining or living and bonus study space. Open kitchen and living with tons of natural light and french doors out to covered patio. Private master suite also have french doors to covered patio. Generous size bedrooms with hall bath with double split sinks and separate shower area. Corner lot and low maintenance yard! Must See!

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: Trails

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320kPrice in $123k336k

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

Neighborhood: Trails

NeighborhoodNIR Market*CityMarket2010Year20002019 Q212001300140015001600170018001900200021002200Rent in $11262251

* 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
Roberta Tipps Elementary School Primary Regular 666 42 8
Brooks Wester Middle School Middle Regular 872 51 8
Mansfield High School High Regular 2,333 123 8

Roberta Tipps Elementary School

  • Education Level: Primary
  • # of students: 666
  • # of teachers: 42
8
GreatSchools Rating

Brooks Wester Middle School

  • Education Level: Middle
  • # of students: 872
  • # of teachers: 51
8
GreatSchools Rating

Mansfield High School

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

$269,910$329,890$299,900

PURCHASE PRICE

$1,890$2,310$2,100

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,100
EXPENSES Loan Payment -$1,042
Property Tax -$711
Property Insurance -$161
HOA -$47
Property Management Fees -$99
CASH FLOW
$41

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.

$299,900

PROJECTED PRICE

$2,100

PROJECTED RENT

0.70%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 5.5%
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

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$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$85,224

INVESTMENT

$85,224

Down Payment
$74,975
Rehab Estimate
$5,750
Closing Costs
$4,499

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,042

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $74,975
Loan Amount $224,925
See What Happens When You Reinvest Cash Flow

4.67

YEARS SAVED

$14,622

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,100

    LIST RENT
  • $0.91

    LIST RENT PER SQFT
  • $2,188

    COMP ESTIMATED VALUE
  • $0.95

    COMP AVG. RENT PER SQFT
Comps Range
$2,100
1$2,1002$2,1003$2,1004$2,2505$2,275
$2,275
RENT COMPS ANALYSIS
  • 2614 Hardwood Trail Mansfield, TX 3
    • 4 beds 2 baths ∙ 2,309 Sqft ∙ Built 2005 4 beds 2 baths ∙ 2,309 Sqft ∙ Built 2005
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.91
    •  
  • 407 Canadian Trail Mansfield, TX 1
    • 4 beds 3 baths ∙ 2,236 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,236 Sqft ∙ Built 2004
    LEASED 10/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.94
    •  
  • 622 Manchester Drive Mansfield, TX 2
    • 4 beds 3 baths ∙ 2,268 Sqft ∙ Built 2001 4 beds 3 baths ∙ 2,268 Sqft ∙ Built 2001
    LEASED 09/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.93
    •  
  • 720 Dover Park Trail Mansfield, TX 4
    • 4 beds 2 baths ∙ 2,497 Sqft ∙ Built 2006 4 beds 2 baths ∙ 2,497 Sqft ∙ Built 2006
    LEASED 10/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $0.90
    •  
  • 3211 Bloomfield Trail Mansfield, TX 5
    • 4 beds 2 baths ∙ 2,237 Sqft ∙ Built 2003 4 beds 2 baths ∙ 2,237 Sqft ∙ Built 2003
    LEASED 01/07/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,275
    • $1.02
    •  
PROPERTY LISTING DETAILS
Don Lawyer
Exp Realty Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14505225
Last Updated: 01/23/2021
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