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4105 Ping Drive Mansfield, TX 76063

4 Beds 3 Baths 2,519 sqft Built 2001

$319,990

List Price

$2,200

$2K - $2.4K

Rent Est.

PROPERTY INFO

December 04, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2001
  • Price/Sqft : $127.03
  • 3 Days on Market
  • MLS # : 14478942
  • Updated Date : 12/04/2020 at 20:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,519 sqft
  • Baths : 2 full , 1 half
Listing Agent

Mcelroy Team Realty

Listing Agent's Description

Fabulously well designed Ryland home in the oh so elegant Mansfield National, with an over sized patio and no neighbors directly behind... priced to sell and won't last long...

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: Mansfield National

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340kPrice in $123k357k

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

Neighborhood: Mansfield National

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21200140016001800200022002400Rent in $11262593

* 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
Elizabeth Smith Elementary School Primary Regular 706 43 9
Danny Jones Middle School Middle Regular 843 51 9
Mansfield Lake Ridge High School High Unknown 2,085 113 NA

Elizabeth Smith Elementary School

  • Education Level: Primary
  • # of students: 706
  • # of teachers: 43
9
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
 

$287,991$351,989$319,990

PURCHASE PRICE

$1,980$2,420$2,200

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,200
EXPENSES Loan Payment -$1,181
Property Tax -$759
Property Insurance -$173
HOA -$37
Property Management Fees -$99
CASH FLOW
-$48

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.

$319,990

PROJECTED PRICE

$2,200

PROJECTED RENT

0.69%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 4.6%
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-$6.0k-$4.0k-$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$800k$900k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$90,547

INVESTMENT

$90,547

Down Payment
$79,998
Rehab Estimate
$5,750
Closing Costs
$4,800

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,181

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $79,998
Loan Amount $239,993
See What Happens When You Reinvest Cash Flow

3.58

YEARS SAVED

$12,303

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,200

    LIST RENT
  • $0.87

    LIST RENT PER SQFT
  • $2,255

    COMP ESTIMATED VALUE
  • $0.9

    COMP AVG. RENT PER SQFT
Comps Range
$1,995
1$1,9952$2,2003$2,2254$2,3005$2,800
$2,800
RENT COMPS ANALYSIS
  • 4105 Ping Drive Mansfield, TX 2
    • 4 beds 3 baths ∙ 2,519 Sqft ∙ Built 2001 4 beds 3 baths ∙ 2,519 Sqft ∙ Built 2001
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.87
    •  
  • 911 Bayshore Drive Mansfield, TX 1
    • 4 beds 3 baths ∙ 2,448 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,448 Sqft ∙ Built 2006
    property image
    LEASED 04/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.81
    •  
  • 703 Tee Box Court Mansfield, TX 3
    • 4 beds 2 baths ∙ 2,589 Sqft ∙ Built 2003 4 beds 2 baths ∙ 2,589 Sqft ∙ Built 2003
    property image
    LEASED 04/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,225
    • $0.86
    •  
  • 904 Bayshore Drive Mansfield, TX 4
    • 4 beds 3 baths ∙ 2,466 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,466 Sqft ∙ Built 2005
    property image
    LEASED 10/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.93
    •  
  • 4016 Birdie Drive Mansfield, TX 5
    • 4 beds 3 baths ∙ 2,850 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,850 Sqft ∙ Built 2003
    property image
    LEASED 09/20/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $0.98
    •  
PROPERTY LISTING DETAILS
Danny Mcelroy
Mcelroy Team Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14478942
Last Updated: 12/04/2020
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