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2818 Chesterfield Lane Mansfield, TX 76084

3 Beds 3 Baths 2,968 sqft Built 2020

$434,090

List Price

$2,300

$2.1K - $2.5K

Rent Est.

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
November 14, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2020
  • Price/Sqft : $146.26
  • 2 Days on Market
  • MLS # : 14471595
  • Updated Date : 11/14/2020 at 17:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,968 sqft
  • Baths : 3 full
Listing Agent

Classic Property Management

Listing Agent's Description

NEW CONSTRUCTION BLOOMFIELD HOME available APRIL 2021! Oversized Homesite! This 3 bed, 3 bath home has a Study that can also be a 4th Bedroom with a Walk-in Closet. Great for Entertaining, the Deluxe Kitchen features Granite Counters, an Island, walk in pantry and generous sized Breakfast Area with Buffet and Window Seat; separate Formal Dining Room; Handsome laminate wood flooring through common areas; Bedroom 1 is oversized with room for a sitting area and a luxury bath with dual sinks, soaking tub, separate shower, and spacious walk-in closet; Upstairs you'll find a Game Room & Media Room. Covered Patio; Fully Landscaped. Call Today!

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
 

$390,681$477,499$434,090

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 -$1,602
Property Tax -$1,103
Property Insurance -$199
HOA -$54
Property Management Fees -$99
CASH FLOW
-$757

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.

$434,090

PROJECTED PRICE

$2,300

PROJECTED RENT

0.53%

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$1.2M

PROJECTED ANNUAL CASH FLOW

11530-$14k-$12k-$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$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$117,034

INVESTMENT

$117,034

Down Payment
$108,523
Rehab Estimate
$2,000
Closing Costs
$6,511

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 80% down payment or higher enables the proceeds from the asset to cover all costs.

$1,602

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $108,523
Loan Amount $325,568
See What Happens When You Reinvest Cash Flow

-0.08

YEARS SAVED

-$17

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
  • $0.77

    LIST RENT PER SQFT
  • $2,345

    COMP ESTIMATED VALUE
  • $0.79

    COMP AVG. RENT PER SQFT
Comps Range
$2,095
1$2,0952$2,2003$2,2954$2,300
$2,300
RENT COMPS ANALYSIS
  • 2818 Chesterfield Lane Mansfield, TX 4
    • 3 beds 3 baths ∙ 2,968 Sqft ∙ Built 2020 3 beds 3 baths ∙ 2,968 Sqft ∙ Built 2020
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.77
    •  
  • 1411 Chase Trail Mansfield, TX 1
    • 4 beds 3 baths ∙ 2,760 Sqft ∙ Built 2008 4 beds 3 baths ∙ 2,760 Sqft ∙ Built 2008
    LEASED 12/16/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,095
    • $0.76
    •  
  • 816 Cutting Horse Drive Mansfield, TX 2
    • 4 beds 3 baths ∙ 2,896 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,896 Sqft ∙ Built 2006
    LEASED 10/28/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.76
    •  
  • 1307 Concho Trail Mansfield, TX 3
    • 4 beds 3 baths ∙ 2,687 Sqft ∙ Built 2009 4 beds 3 baths ∙ 2,687 Sqft ∙ Built 2009
    LEASED 08/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,295
    • $0.85
    •  
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 #: 14471595
Last Updated: 11/14/2020
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