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5 Monticello Court Mansfield, TX 76063

5 Beds 3 Baths 2,743 sqft Built 2003

$353,000

List Price

$2,500

$2.3K - $2.8K

Rent Est.

PROPERTY INFO

November 13, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2003
  • Price/Sqft : $128.69
  • 3 Days on Market
  • MLS # : 14456858
  • Updated Date : 11/14/2020 at 08:35
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,743 sqft
  • Baths : 3 full
Listing Agent

Keller Williams Arlington

Listing Agent's Description

Multiple offers- Final and Best by 6pm Sunday 11-15. DO NOT MISS this immaculate, spacious home in highly sought after Mansfield ISD with inviting backyard pool. Inside, find flex space with a formal dining, formal living & upstairs bonus space. Downstairs includes master suite & spare bedroom. Enjoy the backyard oasis entertaining OR time unplugged. Oversized garage with 150sqft flex area. New impact resistant roof installed before closing; new gutters; new front window solar screens. See Transactions desk for full list of upgrades. Walking distance to community park with junior Olympic pool & nearby many popular attractions with easy access to Hwy 360. Ask about saving thousands with special financing.

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

Neighborhood: The Villages at Spring Lake

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320kPrice in $123k336k

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

Neighborhood: The Villages at Spring Lake

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2120013001400150016001700180019002000210022002300Rent in $11262344

* 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
 

$317,700$388,300$353,000

PURCHASE PRICE

$2,250$2,750$2,500

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,500
EXPENSES Loan Payment -$1,302
Property Tax -$837
Property Insurance -$186
HOA -$37
Property Management Fees -$99
CASH FLOW
$39

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.

$353,000

PROJECTED PRICE

$2,500

PROJECTED RENT

0.71%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 6.7%
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

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$99,295

INVESTMENT

$99,295

Down Payment
$88,250
Rehab Estimate
$5,750
Closing Costs
$5,295

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,302

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $88,250
Loan Amount $264,750
See What Happens When You Reinvest Cash Flow

4.83

YEARS SAVED

$20,863

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,500

    LIST RENT
  • $0.91

    LIST RENT PER SQFT
  • $2,455

    COMP ESTIMATED VALUE
  • $0.9

    COMP AVG. RENT PER SQFT
Comps Range
$1,995
1$1,9952$2,2253$2,3004$2,5005$2,800
$2,800
RENT COMPS ANALYSIS
  • 5 Monticello Court Mansfield, TX 4
    • 5 beds 3 baths ∙ 2,743 Sqft ∙ Built 2003 5 beds 3 baths ∙ 2,743 Sqft ∙ Built 2003
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.91
    •  
  • 911 Bayshore Drive Mansfield, TX 1
    • 4 beds 3 baths ∙ 2,448 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,448 Sqft ∙ Built 2006
    LEASED 04/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.81
    •  
  • 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
    •  
  • 904 Bayshore Drive Mansfield, TX 3
    • 4 beds 3 baths ∙ 2,466 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,466 Sqft ∙ Built 2005
    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
    LEASED 09/20/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $0.98
    •  
PROPERTY LISTING DETAILS
Jordan Davis
Keller Williams Arlington
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14456858
Last Updated: 11/14/2020
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