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4202 Poppy Drive Mansfield, TX 76063

4 Beds 4 Baths 2,874 sqft Built 2012

$399,000

List Price

$2,600

$2.4K - $2.9K

Rent Est.

PROPERTY INFO

November 20, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2012
  • Price/Sqft : $138.83
  • 3 Days on Market
  • MLS # : 14475188
  • Updated Date : 11/20/2020 at 21:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,874 sqft
  • Baths : 3 full , 1 half
Listing Agent

Regent Realty, Llc

Listing Agent's Description

Gorgeous Garden Heights 4 bedroom, 3.5 baths, 3 car garage well maintained home featuring a second master suite upstairs. Stunning architectural windows provide wonderful natural light and decorating opportunities. Gourmet kitchen with stainless steel appliances, granite counters and breakfast bar. Master suite with garden tub, separate shower, separate vanities and sitting area. Room at entry is used as a study, but could be formal dining. Community has a pool within walking distance of the home. Close to Hawaiian Falls water park, Mansfield National public golf course, and walking distance to the elementary.

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

Neighborhood: Garden Heights

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360kPrice in $123k361k

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

Neighborhood: Garden Heights

NeighborhoodNIR Market*CityMarket2010Year20002019 Q212001400160018002000220024002600Rent in $11262693

* 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
 

$359,100$438,900$399,000

PURCHASE PRICE

$2,340$2,860$2,600

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,600
EXPENSES Loan Payment -$1,472
Property Tax -$946
Property Insurance -$193
HOA -$50
Property Management Fees -$99
CASH FLOW
-$160

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.

$399,000

PROJECTED PRICE

$2,600

PROJECTED RENT

0.65%

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-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$111,485

INVESTMENT

$111,485

Down Payment
$99,750
Rehab Estimate
$5,750
Closing Costs
$5,985

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$1,472

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $99,750
Loan Amount $299,250
See What Happens When You Reinvest Cash Flow

2.42

YEARS SAVED

$8,583

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,600

    LIST RENT
  • $0.9

    LIST RENT PER SQFT
  • $2,433

    COMP ESTIMATED VALUE
  • $0.85

    COMP AVG. RENT PER SQFT
Comps Range
$2,150
1$2,1502$2,2253$2,6004$2,675
$2,675
RENT COMPS ANALYSIS
  • 4202 Poppy Drive Mansfield, TX 3
    • 4 beds 4 baths ∙ 2,874 Sqft ∙ Built 2012 4 beds 4 baths ∙ 2,874 Sqft ∙ Built 2012
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $0.90
    •  
  • 716 Bowie Lane Mansfield, TX 1
    • 4 beds 3 baths ∙ 2,615 Sqft ∙ Built 2001 4 beds 3 baths ∙ 2,615 Sqft ∙ Built 2001
    LEASED 02/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $0.82
    •  
  • 703 Tee Box Court Mansfield, TX 2
    • 4 beds 2 baths ∙ 2,589 Sqft ∙ Built 2003 4 beds 2 baths ∙ 2,589 Sqft ∙ Built 2003
    LEASED 04/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,225
    • $0.86
    •  
  • 3812 Calloway Drive Mansfield, TX 4
    • 4 beds 3 baths ∙ 3,116 Sqft ∙ Built 2003 4 beds 3 baths ∙ 3,116 Sqft ∙ Built 2003
    LEASED 07/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,675
    • $0.86
    •  
PROPERTY LISTING DETAILS
Melissa Fain
Regent Realty, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14475188
Last Updated: 11/20/2020
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