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2701 Shilo Court Mansfield, TX 76063

4 Beds 3 Baths 2,761 sqft Built 2004

$300,000

List Price

$2,300

$2.1K - $2.5K

Rent Est.

PROPERTY INFO

November 06, 2020 RECENTLY ADDED
FACTS
  • Built In 2004
  • Price/Sqft : $108.66
  • 3 Days on Market
  • MLS # : 14465740
  • Updated Date : 11/06/2020 at 13:36
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,761 sqft
  • Baths : 2 full , 1 half
Listing Agent

Keller Williams Realty

Listing Agent's Description

Move-in ready in a great north Mansfield location of Walnut Hills. Feeds the highly desired Mansfield High. Short commute to Fort Worth, Dallas, or DFW Airport. Only a 5 minute drive to Loyd Park at Joe Pool Lake. Oversized corner lot on a cul-de sac. Large home with 3 living areas including a great room upstairs. Formal dining and formal living with easy-care wood-look laminate when you enter the home. Formal living could be a great home-office or study. Breakfast area is equipped with a built-in desk or hutch. Neutral paint in 2018. Nice carpet in bedrooms and upstairs great room in 2018. Spacious island breakfast bar with granite countertops. Full home RainSoft water filtration system. Surround sound wiring.

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: Walnut Hills

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320kPrice in $123k336k

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

Neighborhood: Walnut Hills

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
 

$270,000$330,000$300,000

PURCHASE PRICE

$2,070$2,530$2,300

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,300
EXPENSES Loan Payment -$1,107
Property Tax -$711
Property Insurance -$187
HOA -$21
Property Management Fees -$99
CASH FLOW
$175

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.

$300,000

PROJECTED PRICE

$2,300

PROJECTED RENT

0.77%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 10.1%
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-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k

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$85,250

INVESTMENT

$85,250

Down Payment
$75,000
Rehab Estimate
$5,750
Closing Costs
$4,500

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,107

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $75,000
Loan Amount $225,000
See What Happens When You Reinvest Cash Flow

7.25

YEARS SAVED

$31,407

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,300

    LIST RENT
  • $0.83

    LIST RENT PER SQFT
  • $2,361

    COMP ESTIMATED VALUE
  • $0.86

    COMP AVG. RENT PER SQFT
Comps Range
$2,095
1$2,0952$2,1753$2,3004$2,3955$2,395
$2,395
RENT COMPS ANALYSIS
  • 2701 Shilo Court Mansfield, TX 3
    • 4 beds 3 baths ∙ 2,761 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,761 Sqft ∙ Built 2004
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.83
    •  
  • 1655 Churchill Lane Mansfield, TX 1
    • 4 beds 3 baths ∙ 2,675 Sqft ∙ Built 2000 4 beds 3 baths ∙ 2,675 Sqft ∙ Built 2000
    LEASED 03/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,095
    • $0.78
    •  
  • 210 Adirondack Trail Arlington, TX 2
    • 4 beds 3 baths ∙ 2,567 Sqft ∙ Built 2001 4 beds 3 baths ∙ 2,567 Sqft ∙ Built 2001
    LEASED 08/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,175
    • $0.85
    •  
  • 2310 Grimsley Terrace Mansfield, TX 4
    • 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
    •  
  • 2410 Windcastle Drive Mansfield, TX 5
    • 4 beds 3 baths ∙ 2,700 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,700 Sqft ∙ Built 2005
    LEASED 11/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,395
    • $0.89
    •  
PROPERTY LISTING DETAILS
Jay Crane
Keller Williams Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14465740
Last Updated: 11/06/2020
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