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3213 Rustic Meadow Trail Mansfield, TX 76063

3 Beds 2 Baths 1,602 sqft Built 2000

$240,000

List Price

$1,730

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

October 30, 2020 RECENTLY ADDED
FACTS
  • Built In 2000
  • Price/Sqft : $149.81
  • 6 Days on Market
  • MLS # : 14462346
  • Updated Date : 10/29/2020 at 17:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,602 sqft
  • Baths : 2 full
Listing Agent

Re/max Associates Of Arlington

Listing Agent's Description

Light Bright and Open! Large kitchen and nice utility with extra storage and pantry area. Corner fireplace, large backyard. Tile in all walkways, kitchen, dining and baths. Wood like laminate in living and master. Carpet in 2ndary bedrooms. New in 2020: carpet, granite, kitchen faucet and sink, stove, microwave, roof. Warm and cozy floorplan!

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: Rustic Meadow

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $108k336k

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

Neighborhood: Rustic Meadow

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800190020002100Rent in $10082171

* 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
 

$216,000$264,000$240,000

PURCHASE PRICE

$1,557$1,903$1,730

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,730
EXPENSES Loan Payment -$886
Property Tax -$569
Property Insurance -$120
Property Management Fees -$99
CASH FLOW
$57

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.

$240,000

PROJECTED PRICE

$1,730

PROJECTED RENT

0.72%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 7.1%
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$100k$200k$300k$400k$500k$600k$700k$800k

PROJECTED ANNUAL CASH FLOW

11530-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$69,350

INVESTMENT

$69,350

Down Payment
$60,000
Rehab Estimate
$5,750
Closing Costs
$3,600

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$886

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $60,000
Loan Amount $180,000
See What Happens When You Reinvest Cash Flow

5.58

YEARS SAVED

$17,413

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,730

    LIST RENT
  • $1.08

    LIST RENT PER SQFT
  • $1,722

    COMP ESTIMATED VALUE
  • $1.08

    COMP AVG. RENT PER SQFT
Comps Range
$1,699
1$1,6992$1,7003$1,7304$1,7455$1,750
$1,750
RENT COMPS ANALYSIS
  • 3213 Rustic Meadow Trail Mansfield, TX 3
    • 3 beds 2 baths ∙ 1,602 Sqft ∙ Built 2000 3 beds 2 baths ∙ 1,602 Sqft ∙ Built 2000
    • Rent
    • Rent Per SQFT
    •  
    • $1,730
    • $1.08
    •  
  • 3101 Rustic Meadow Trail Mansfield, TX 1
    • 3 beds 2 baths ∙ 1,628 Sqft ∙ Built 1999 3 beds 2 baths ∙ 1,628 Sqft ∙ Built 1999
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,699
    • $1.04
    •  
  • 3105 Scenic Glen Drive Mansfield, TX 2
    • 3 beds 2 baths ∙ 1,624 Sqft ∙ Built 1998 3 beds 2 baths ∙ 1,624 Sqft ∙ Built 1998
    LEASED 09/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $1.05
    •  
  • 3001 Scenic Glen Drive Mansfield, TX 4
    • 3 beds 2 baths ∙ 1,583 Sqft ∙ Built 2000 3 beds 2 baths ∙ 1,583 Sqft ∙ Built 2000
    LEASED 05/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,745
    • $1.10
    •  
  • 3216 Dove Valley Lane Mansfield, TX 5
    • 3 beds 2 baths ∙ 1,579 Sqft ∙ Built 2000 3 beds 2 baths ∙ 1,579 Sqft ∙ Built 2000
    LEASED 07/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $1.11
    •  
PROPERTY LISTING DETAILS
De Anna Jackson
Re/max Associates Of Arlington
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14462346
Last Updated: 10/29/2020
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