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4301 Palmer Drive Mansfield, TX 76063

3 Beds 2 Baths 2,529 sqft Built 2005

$325,000

List Price

$2,190

$2K - $2.4K

Rent Est.

PROPERTY INFO

December 28, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2005
  • Price/Sqft : $128.51
  • 7 Days on Market
  • MLS # : 14483179
  • Updated Date : 12/29/2020 at 15:01
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,529 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Realty

Listing Agent's Description

Beautiful home in Mansfield National Subdivision within MISD schools!! Step inside to vaulted ceilings, an open floorplan w split bedrooms, formal sitting area which makes for a great study or playroom, eye-catching stone wall & fireplace, & more. Entertain guests in the kitchen w SS apps, breakfast bar, island, built-in desk, & sizeable walk-in pantry. The master suit offers tons of natural light, dbl vanities, corner jetted tub, WIC, & separate shower. Unwind on the open patio in the large backyard w wood privacy fence. The HOA provides a community park, pool, clubhouse & walking trails. Convenient to Mansfield National Golf Course & Hawaiian Falls Water Park. Schedule Your Showing Today. This one won't last!

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: 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
 

$292,500$357,500$325,000

PURCHASE PRICE

$1,971$2,409$2,190

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,190
EXPENSES Loan Payment -$1,199
Property Tax -$770
Property Insurance -$173
HOA -$37
Property Management Fees -$99
CASH FLOW
-$88

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.

$325,000

PROJECTED PRICE

$2,190

PROJECTED RENT

0.67%

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$91,875

INVESTMENT

$91,875

Down Payment
$81,250
Rehab Estimate
$5,750
Closing Costs
$4,875

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,199

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $81,250
Loan Amount $243,750
See What Happens When You Reinvest Cash Flow

3.08

YEARS SAVED

$9,725

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,190

    LIST RENT
  • $0.87

    LIST RENT PER SQFT
  • $2,238

    COMP ESTIMATED VALUE
  • $0.89

    COMP AVG. RENT PER SQFT
Comps Range
$1,995
1$1,9952$2,1903$2,2254$2,3005$2,375
$2,375
RENT COMPS ANALYSIS
  • 4301 Palmer Drive Mansfield, TX 2
    • 3 beds 2 baths ∙ 2,529 Sqft ∙ Built 2005 3 beds 2 baths ∙ 2,529 Sqft ∙ Built 2005
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,190
    • $0.87
    •  
  • 108 Bridgewood Drive Mansfield, TX 1
    • 4 beds 3 baths ∙ 2,362 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,362 Sqft ∙ Built 2005
    property image
    LEASED 08/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.84
    •  
  • 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
    •  
  • 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
    property image
    LEASED 12/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,375
    • $0.91
    •  
PROPERTY LISTING DETAILS
Chris Minteer
Keller Williams Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14483179
Last Updated: 12/29/2020
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