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2907 Rocky Creek Drive Mansfield, TX 76063

5 Beds 4 Baths 4,033 sqft Built 2003

$425,000

List Price

$2,630

$2.4K - $2.9K

Rent Est.

PROPERTY INFO

November 20, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2003
  • Price/Sqft : $105.38
  • 3 Days on Market
  • MLS # : 14474332
  • Updated Date : 11/20/2020 at 19:00
CONSTRUCTION
  • Beds : 5
  • Floor Size : 4,033 sqft
  • Baths : 3 full , 1 half
Listing Agent

Century 21 Mike Bowman, Inc.

Listing Agent's Description

Beautiful home situated on a premium large corner lot with custom landscaping and exterior lighting.The elegant grand foyer greets you entering the home with soaring ceilings, wrought iron staircase and an open concept floor plan! This spacious home features 5 bed, 3.1 bath, gourmet kitchen, SS appliances, upgraded solid wood flooring, recently painted, and upgraded. Spacious downstairs master suite with an additional bed and half bath that could be used as a 6th bedroom or study. 4 Guest bedroom and 2 full baths upstairs with a large game room and media. Meticulously maintained back yard with fruit trees. A must see at such a great price!

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: Antigua

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320kPrice in $123k336k

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

Neighborhood: Antigua

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2120013001400150016001700180019002000210022002300Rent in $11262350

* 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
 

$382,500$467,500$425,000

PURCHASE PRICE

$2,367$2,893$2,630

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,630
EXPENSES Loan Payment -$1,568
Property Tax -$1,007
Property Insurance -$260
Property Management Fees -$99
CASH FLOW
-$305

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.

$425,000

PROJECTED PRICE

$2,630

PROJECTED RENT

0.62%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 9.2%
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$1.4M

PROJECTED ANNUAL CASH FLOW

11530-$10k-$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$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$118,375

INVESTMENT

$118,375

Down Payment
$106,250
Rehab Estimate
$5,750
Closing Costs
$6,375

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$1,568

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $106,250
Loan Amount $318,750
See What Happens When You Reinvest Cash Flow

1.25

YEARS SAVED

$3,275

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,630

    LIST RENT
  • $0.65

    LIST RENT PER SQFT
  • $2,874

    COMP ESTIMATED VALUE
  • $0.71

    COMP AVG. RENT PER SQFT
Comps Range
$2,495
1$2,4952$2,5503$2,6304$2,9005$2,995
$2,995
RENT COMPS ANALYSIS
  • 2907 Rocky Creek Drive Mansfield, TX 3
    • 5 beds 4 baths ∙ 4,033 Sqft ∙ Built 2003 5 beds 4 baths ∙ 4,033 Sqft ∙ Built 2003
    • Rent
    • Rent Per SQFT
    •  
    • $2,630
    • $0.65
    •  
  • 2910 Saint Vincent Drive Mansfield, TX 1
    • 6 beds 4 baths ∙ 3,938 Sqft ∙ Built 2002 6 beds 4 baths ∙ 3,938 Sqft ∙ Built 2002
    LEASED 11/18/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,495
    • $0.63
    •  
  • 94 Forest Mill Trail Mansfield, TX 2
    • 5 beds 4 baths ∙ 3,717 Sqft ∙ Built 2003 5 beds 4 baths ∙ 3,717 Sqft ∙ Built 2003
    LEASED 09/11/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,550
    • $0.69
    •  
  • 1021 Manchester Drive Mansfield, TX 4
    • 5 beds 4 baths ∙ 3,839 Sqft ∙ Built 2003 5 beds 4 baths ∙ 3,839 Sqft ∙ Built 2003
    LEASED 03/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,900
    • $0.76
    •  
  • 206 Cabotwood Trail Mansfield, TX 5
    • 6 beds 4 baths ∙ 3,881 Sqft ∙ Built 2004 6 beds 4 baths ∙ 3,881 Sqft ∙ Built 2004
    LEASED 06/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,995
    • $0.77
    •  
PROPERTY LISTING DETAILS
Rebekah Gilbert
Century 21 Mike Bowman, Inc.
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14474332
Last Updated: 11/20/2020
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