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4002 Orchid Lane Mansfield, TX 76063

4 Beds 2 Baths 2,300 sqft Built 2004

$270,000

List Price

$2,230

$2K - $2.5K

Rent Est.

PROPERTY INFO

January 01, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2004
  • Price/Sqft : $117.39
  • 3 Days on Market
  • MLS # : 14492957
  • Updated Date : 01/01/2021 at 17:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,300 sqft
  • Baths : 2 full
Listing Agent

Century 21 Judge Fite Co.

Listing Agent's Description

Fabulous 4 bedroom floor plan is open and airy* split bedroom arrangement is perfect for multigenerational household * big kitchen and breakfast room with loads of natural light * very neat and clean home, priced to allow buyer to make their own decorating changes * seller requests lender's letter of prequalification or proof of funds with all offers * please respect showing instructions * all measurements are estimates * existing survey not available *

SEE MORE

MARKET HIGHLIGHTS

  • # 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)
  • . Dallas has 7th largest concentration of high-tech jobs in the U.S. (Dallas Chamber)

PRICE & RENT TRENDS

Neighborhood: Lowes Farm

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320kPrice in $123k336k

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

Neighborhood: Lowes Farm

NeighborhoodNIR Market*CityMarket2010Year20002019 Q212001300140015001600170018001900200021002200230024002500Rent in $11262506

* 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 Lillard Intermediate School Primary Regular 945 53 8
Danny Jones Middle School Middle Regular 843 51 9
Mansfield Lake Ridge High School High Unknown 2,085 113 NA

Mary Lillard Intermediate School

  • Education Level: Primary
  • # of students: 945
  • # of teachers: 53
8
GreatSchools Rating

Danny Jones Middle School

  • Education Level: Middle
  • # of students: 843
  • # of teachers: 51
9
GreatSchools Rating

Mansfield Lake Ridge High School

  • Education Level: High
  • # of students: 2,085
  • # of teachers: 113
NA
GreatSchools Rating
 

$243,000$297,000$270,000

PURCHASE PRICE

$2,007$2,453$2,230

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,230
EXPENSES Loan Payment -$996
Property Tax -$654
Property Insurance -$160
HOA -$48
Property Management Fees -$99
CASH FLOW
$273

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.

$270,000

PROJECTED PRICE

$2,230

PROJECTED RENT

0.83%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 4.5%
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

PROJECTED ANNUAL CASH FLOW

11530$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$100k$200k$300k$400k$500k$600k$700k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$77,300

INVESTMENT

$77,300

Down Payment
$67,500
Rehab Estimate
$5,750
Closing Costs
$4,050

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$996

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $67,500
Loan Amount $202,500
See What Happens When You Reinvest Cash Flow

9.25

YEARS SAVED

$39,935

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,230

    LIST RENT
  • $0.97

    LIST RENT PER SQFT
  • $2,214

    COMP ESTIMATED VALUE
  • $0.96

    COMP AVG. RENT PER SQFT
Comps Range
$2,100
1$2,1002$2,2003$2,2304$2,2505$2,375
$2,375
RENT COMPS ANALYSIS
  • 4002 Orchid Lane Mansfield, TX 3
    • 4 beds 2 baths ∙ 2,300 Sqft ∙ Built 2004 4 beds 2 baths ∙ 2,300 Sqft ∙ Built 2004
    • Rent
    • Rent Per SQFT
    •  
    • $2,230
    • $0.97
    •  
  • 4100 Wildbriar Lane Mansfield, TX 1
    • 4 beds 2 baths ∙ 2,170 Sqft ∙ Built 2004 4 beds 2 baths ∙ 2,170 Sqft ∙ Built 2004
    LEASED 08/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.97
    •  
  • 4405 Meadow Knoll Lane Mansfield, TX 2
    • 4 beds 2 baths ∙ 2,292 Sqft ∙ Built 2006 4 beds 2 baths ∙ 2,292 Sqft ∙ Built 2006
    LEASED 12/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.96
    •  
  • 704 Bowie Lane Mansfield, TX 4
    • 3 beds 2 baths ∙ 2,232 Sqft ∙ Built 2002 3 beds 2 baths ∙ 2,232 Sqft ∙ Built 2002
    LEASED 04/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $1.01
    •  
  • 715 San Antonio Trail Mansfield, TX 5
    • 4 beds 2 baths ∙ 2,624 Sqft ∙ Built 2002 4 beds 2 baths ∙ 2,624 Sqft ∙ Built 2002
    LEASED 12/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,375
    • $0.91
    •  
PROPERTY LISTING DETAILS
Vivian Vance
Century 21 Judge Fite Co.
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14492957
Last Updated: 01/01/2021
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