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4705 Mayflower Drive Midlothian, TX 76065

4 Beds 3 Baths 2,095 sqft Built 2021

$375,468

List Price

$2,150

$1.9K - $2.4K

Rent Est.

PROPERTY INFO

Built 2021 NEW CONSTRUCTION
January 15, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2021
  • Price/Sqft : $179.22
  • 3 Days on Market
  • MLS # : 14500801
  • Updated Date : 01/15/2021 at 20:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,095 sqft
  • Baths : 2 full , 1 half
Listing Agent

Re/max Proadvantage

Listing Agent's Description

Beazer's Magnolia plan with 4 bedroons, 2.5 baths, study, and 3 car garage! Gourmet kitchen with 42 inch cabinetry, quartz countertops, and built-in SS appliances! Loaded with upgrades including wood plank foors! Gorgeous greenbelt view lot! Estimated completion March 2021. *Days on market based on start of construction.*

SEE MORE

MARKET HIGHLIGHTS

  • . 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)
  • 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)

PRICE & RENT TRENDS

Zip Code: 76065

ZipNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320kPrice in $123k336k

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

Zip Code: 76065

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
J.a. Vitovsky Elementary Primary Regular 646 47 4
Frank Seale Middle School Middle Regular 908 48 7
Midlothian High School High Regular 2,390 141 6

J.a. Vitovsky Elementary

  • Education Level: Primary
  • # of students: 646
  • # of teachers: 47
4
GreatSchools Rating

Frank Seale Middle School

  • Education Level: Middle
  • # of students: 908
  • # of teachers: 48
7
GreatSchools Rating

Midlothian High School

  • Education Level: High
  • # of students: 2,390
  • # of teachers: 141
6
GreatSchools Rating
 

$337,921$413,015$375,468

PURCHASE PRICE

$1,935$2,365$2,150

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,150
EXPENSES Loan Payment -$1,304
Property Tax -$819
Property Insurance -$148
HOA -$54
Property Management Fees -$99
CASH FLOW
-$275

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 10% of earned rent to cover both maintenance and periods of vacancy.

$375,468

PROJECTED PRICE

$2,150

PROJECTED RENT

0.57%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 7.6%
Maintenance Year (1-5) 3.00%
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-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k

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$101,499

INVESTMENT

$101,499

Down Payment
$93,867
Rehab Estimate
$2,000
Closing Costs
$5,632

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,304

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $93,867
Loan Amount $281,601
See What Happens When You Reinvest Cash Flow

1.17

YEARS SAVED

$2,017

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,150

    LIST RENT
  • $1.03

    LIST RENT PER SQFT
  • $2,151

    COMP ESTIMATED VALUE
  • $1.03

    COMP AVG. RENT PER SQFT
Comps Range
$2,150
1$2,1502$2,2503$2,2504$2,400
$2,400
RENT COMPS ANALYSIS
  • 4705 Mayflower Drive Midlothian, TX 1
    • 4 beds 2 baths ∙ 2,095 Sqft ∙ Built 2021 4 beds 2 baths ∙ 2,095 Sqft ∙ Built 2021
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $1.03
    •  
  • 3503 Weyburn Drive Mansfield, TX 2
    • 4 beds 2 baths ∙ 2,165 Sqft ∙ Built 2018 4 beds 2 baths ∙ 2,165 Sqft ∙ Built 2018
    property image
    LEASED 03/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $1.04
    •  
  • 2608 Chadwick Lane Mansfield, TX 3
    • 4 beds 2 baths ∙ 2,200 Sqft ∙ Built 2019 4 beds 2 baths ∙ 2,200 Sqft ∙ Built 2019
    property image
    LEASED 06/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $1.02
    •  
  • 3208 Treyburn Lane Mansfield, TX 4
    • 4 beds 3 baths ∙ 2,356 Sqft ∙ Built 2018 4 beds 3 baths ∙ 2,356 Sqft ∙ Built 2018
    property image
    LEASED 11/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.02
    •  
PROPERTY LISTING DETAILS
Ginger Weeks
Re/max Proadvantage
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14500801
Last Updated: 01/15/2021
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