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4209 Spring Lake Parkway Mansfield, TX 76063

4 Beds 4 Baths 3,214 sqft Built 2010

$399,900

List Price

$2,630

$2.4K - $2.9K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 21, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2010
  • Price/Sqft : $124.42
  • 1 Days on Market
  • MLS # : 14535519
  • Updated Date : 03/21/2021 at 00:07
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,214 sqft
  • Baths : 3 full , 1 half
Listing Agent

Vip Realty

Listing Agent's Description

Now for sale in highly sought after Mansfield ISD. Beautiful landscaping with inviting front porch. Your open floor plan is perfect for entertaining with a great flow throughout the downstairs. Kitchen offers a large island, granite counter tops, lots of cabinets, counter space & a built in buffet. Your huge master retreat includes lots of natural light, a sitting area, spa like bath & walk in closet. Upstairs features a second master suite with a private bath as well as 2 additional large bedrooms, a bathroom, a game room and a desk area. The large fenced yard has plenty of room for a pool and additional space. The roof & Ac unit downstairs has been replaced in 2020. Seller needs a lease back until May 22.

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: Vista National

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340kPrice in $123k358k

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

Neighborhood: Vista National

NeighborhoodNIR Market*CityMarket2010Year20002019 Q212001400160018002000220024002600Rent in $11262621

* 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
 

$359,910$439,890$399,900

PURCHASE PRICE

$2,367$2,893$2,630

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,630
EXPENSES Loan Payment -$1,389
Property Tax -$948
Property Insurance -$213
HOA -$21
Property Management Fees -$99
CASH FLOW
-$40

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.

$399,900

PROJECTED PRICE

$2,630

PROJECTED RENT

0.66%

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$111,724

INVESTMENT

$111,724

Down Payment
$99,975
Rehab Estimate
$5,750
Closing Costs
$5,999

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,389

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $99,975
Loan Amount $299,925
See What Happens When You Reinvest Cash Flow

3.58

YEARS SAVED

$13,188

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,630

    LIST RENT
  • $0.82

    LIST RENT PER SQFT
  • $2,635

    COMP ESTIMATED VALUE
  • $0.82

    COMP AVG. RENT PER SQFT
Comps Range
$2,360
1$2,3602$2,5953$2,6304$2,6755$2,800
$2,800
RENT COMPS ANALYSIS
  • 4209 Spring Lake Parkway Mansfield, TX 3
    • 4 beds 4 baths ∙ 3,214 Sqft ∙ Built 2010 4 beds 4 baths ∙ 3,214 Sqft ∙ Built 2010
    • Rent
    • Rent Per SQFT
    •  
    • $2,630
    • $0.82
    •  
  • 712 Crockett Drive Mansfield, TX 1
    • 4 beds 3 baths ∙ 3,014 Sqft ∙ Built 2003 4 beds 3 baths ∙ 3,014 Sqft ∙ Built 2003
    LEASED 05/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,360
    • $0.78
    •  
  • 3 Saddlewood Court Mansfield, TX 2
    • 5 beds 3 baths ∙ 3,298 Sqft ∙ Built 2003 5 beds 3 baths ∙ 3,298 Sqft ∙ Built 2003
    LEASED 10/18/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,595
    • $0.79
    •  
  • 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
    •  
  • 511 Carnation Lane Mansfield, TX 5
    • 5 beds 3 baths ∙ 3,282 Sqft ∙ Built 2011 5 beds 3 baths ∙ 3,282 Sqft ∙ Built 2011
    LEASED 08/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $0.85
    •  
PROPERTY LISTING DETAILS
Shawna King
Vip Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14535519
Last Updated: 03/21/2021
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