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405 Turnstone Drive Mansfield, TX 76063

4 Beds 2 Baths 2,247 sqft Built 2016

$395,000

List Price

$1,900

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 14, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2016
  • Price/Sqft : $175.79
  • 1 Days on Market
  • MLS # : 14531251
  • Updated Date : 03/13/2021 at 03:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,247 sqft
  • Baths : 2 full
Listing Agent

Coldwell Banker Apex, Realtors

Listing Agent's Description

This is a great home and over-sized lot in Cardinal Park Estates. The kitchen has a gas cooktop, large sink and granite counters and walk in pantry. The master suite a has sitting area by the bay windows. Master bath features a separate shower, garden tub, separate vanities and a large walk in closet. The front room can also be used a office. This home has 8ft doors and 10ft ceilings. You will enjoy the covered patio along with this oversized back yard. The whole inside of the home was newly painted and new carpet in 2019.

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

Zip Code: 76063

ZipNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320kPrice in $123k336k

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

Zip Code: 76063

ZipNIR Market*CityMarket2010Year20002019 Q21200130014001500160017001800190020002100Rent in $11262171

* 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
Alice Ponder Elementary School Primary Regular 494 37 7
Linda Jobe Middle School Middle Regular 809 53 8
Mansfield Legacy High School High Regular 1,945 103 6

Alice Ponder Elementary School

  • Education Level: Primary
  • # of students: 494
  • # of teachers: 37
7
GreatSchools Rating

Linda Jobe Middle School

  • Education Level: Middle
  • # of students: 809
  • # of teachers: 53
8
GreatSchools Rating

Mansfield Legacy High School

  • Education Level: High
  • # of students: 1,945
  • # of teachers: 103
6
GreatSchools Rating
 

$355,500$434,500$395,000

PURCHASE PRICE

$1,710$2,090$1,900

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,900
EXPENSES Loan Payment -$1,372
Property Tax -$936
Property Insurance -$157
HOA -$67
Property Management Fees -$99
CASH FLOW
-$731

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.

$395,000

PROJECTED PRICE

$1,900

PROJECTED RENT

0.48%

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$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$110,425

INVESTMENT

$110,425

Down Payment
$98,750
Rehab Estimate
$5,750
Closing Costs
$5,925

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 100% down payment or higher enables the proceeds from the asset to cover all costs.

$1,372

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $98,750
Loan Amount $296,250
See What Happens When You Reinvest Cash Flow

-0.17

YEARS SAVED

-$32

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,900

    LIST RENT
  • $0.85

    LIST RENT PER SQFT
  • $2,078

    COMP ESTIMATED VALUE
  • $0.93

    COMP AVG. RENT PER SQFT
Comps Range
$1,795
1$1,7952$1,8503$1,9004$2,1005$2,100
$2,100
RENT COMPS ANALYSIS
  • 405 Turnstone Drive Mansfield, TX 3
    • 4 beds 2 baths ∙ 2,247 Sqft ∙ Built 2016 4 beds 2 baths ∙ 2,247 Sqft ∙ Built 2016
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.85
    •  
  • 809 Parkhill Drive Mansfield, TX 1
    • 4 beds 2 baths ∙ 2,069 Sqft ∙ Built 2000 4 beds 2 baths ∙ 2,069 Sqft ∙ Built 2000
    LEASED 02/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.87
    •  
  • 608 Everglade Drive Mansfield, TX 2
    • 3 beds 2 baths ∙ 2,103 Sqft ∙ Built 2001 3 beds 2 baths ∙ 2,103 Sqft ∙ Built 2001
    LEASED 01/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.88
    •  
  • 1905 Middleton Drive Mansfield, TX 4
    • 3 beds 2 baths ∙ 2,010 Sqft ∙ Built 2019 3 beds 2 baths ∙ 2,010 Sqft ∙ Built 2019
    LEASED 05/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.04
    •  
  • 1607 Monte Carlo Drive Mansfield, TX 5
    • 4 beds 2 baths ∙ 2,312 Sqft ∙ Built 2004 4 beds 2 baths ∙ 2,312 Sqft ∙ Built 2004
    LEASED 12/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.91
    •  
PROPERTY LISTING DETAILS
Cindy Young
Coldwell Banker Apex, Realtors
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14531251
Last Updated: 03/13/2021
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