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3207 Vista Lake Circle Mansfield, TX 76063

5 Beds 4 Baths 4,158 sqft Built 2005

$623,500

List Price

$3,400

$3.2K - $3.7K

Rent Est.

PROPERTY INFO

December 05, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2005
  • Price/Sqft : $149.95
  • 2 Days on Market
  • MLS # : 14481913
  • Updated Date : 12/05/2020 at 14:00
CONSTRUCTION
  • Beds : 5
  • Floor Size : 4,158 sqft
  • Baths : 4 full
Listing Agent

Re/max Dfw Associates

Listing Agent's Description

Lovely and spacious home in terrific setting of Lakes of Creekwood. Four living areas and five bedroom home with very attractive appointments. Open kitchen concept with gourmet features, granite tops and gas range cooktop, walk in pantry. Two bedroom including the master are downstairs. Gameroom and media room upstairs with three bedroom an two full bathrooms. Your new home awaits, gracious patio with fire pit and natural pavers.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • . 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)

PRICE & RENT TRENDS

Neighborhood: Lakes of Creekwood

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550kPrice in $123k575k

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

Neighborhood: Lakes of Creekwood

NeighborhoodNIR Market*CityMarket2010Year20002019 Q212001400160018002000220024002600280030003200Rent in $11263378

* 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
Willie Brown Elementary School Primary Regular 602 39 9
Mary Orr Intermediate School Middle Regular 845 53 7
Mansfield High School High Regular 2,333 123 8

Willie Brown Elementary School

  • Education Level: Primary
  • # of students: 602
  • # of teachers: 39
9
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
 

$561,150$685,850$623,500

PURCHASE PRICE

$3,060$3,740$3,400

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,400
EXPENSES Loan Payment -$2,300
Property Tax -$1,478
Property Insurance -$267
Property Management Fees -$99
CASH FLOW
-$745

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.

$623,500

PROJECTED PRICE

$3,400

PROJECTED RENT

0.55%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.00%
Appreciation Year (1-5) 2.3%
Maintenance Year (1-5) 8.00%
Vacancy 7.37%
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-$15k-$10k-$5.0k$0.0$5.0k$10k

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$170,978

INVESTMENT

$170,978

Down Payment
$155,875
Rehab Estimate
$5,750
Closing Costs
$9,353

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 75% down payment or higher enables the proceeds from the asset to cover all costs.

$2,300

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $155,875
Loan Amount $467,625
See What Happens When You Reinvest Cash Flow

0.25

YEARS SAVED

$282

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,400

    LIST RENT
  • $0.82

    LIST RENT PER SQFT
  • $3,368

    COMP ESTIMATED VALUE
  • $0.81

    COMP AVG. RENT PER SQFT
Comps Range
$3,200
1$3,2002$3,2503$3,4004$3,850
$3,850
RENT COMPS ANALYSIS
  • 3207 Vista Lake Circle Mansfield, TX 3
    • 5 beds 4 baths ∙ 4,158 Sqft ∙ Built 2005 5 beds 4 baths ∙ 4,158 Sqft ∙ Built 2005
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $3,400
    • $0.82
    •  
  • 4205 Iron Lane Mansfield, TX 1
    • 5 beds 4 baths ∙ 4,294 Sqft ∙ Built 2003 5 beds 4 baths ∙ 4,294 Sqft ∙ Built 2003
    property image
    LEASED 07/13/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $0.75
    •  
  • 3220 Pamplona Grand Prairie, TX 2
    • 4 beds 4 baths ∙ 4,501 Sqft ∙ Built 2010 4 beds 4 baths ∙ 4,501 Sqft ∙ Built 2010
    property image
    LEASED 06/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,250
    • $0.72
    •  
  • 2014 Royal Crest Drive Mansfield, TX 4
    • 4 beds 4 baths ∙ 4,007 Sqft ∙ Built 2006 4 beds 4 baths ∙ 4,007 Sqft ∙ Built 2006
    property image
    LEASED 09/18/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,850
    • $0.96
    •  
PROPERTY LISTING DETAILS
John Romeo
Re/max Dfw Associates
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14481913
Last Updated: 12/05/2020
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