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603 Mansfield Cleburne, TX 76031

3 Beds 2 Baths 1,303 sqft Built 2020

$181,900

List Price

$1,410

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
November 05, 2020 RECENTLY ADDED
FACTS
  • Built In 2020
  • Price/Sqft : $139.60
  • 4 Days on Market
  • MLS # : 14464991
  • Updated Date : 11/05/2020 at 17:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,303 sqft
  • Baths : 2 full
Listing Agent

Coldwell Banker Apex, Realtors

Listing Agent's Description

Come home for Christmas! This new construction will be complete by the first week in December! Your Christmas list could be checked off as you drive up to your new home. 2 car garage welcomes you as you make your way past the sodded from yard with landscape package & covered front porch. Make your way inside to an open concept home with attention to detail. Granite countertops, stainless appliances, custom cabinetry, pantry, breakfast bar with pendant lights. Wood Look Tile in Main areas, Carpet in Bedrooms. Split bedrooms. Walk in closet in master & extra recessed lighting throughout. Spray foam insulation, low e windows and LED lighting help with energy efficiency this winter. Complete with a large backyard.

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: 76031

ZipNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240kPrice in $88k243k

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

Zip Code: 76031

ZipNIR Market*CityMarket2010Year20002019 Q290010001100120013001400150016001700Rent in $8731734

* 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
Santa Fe Elementary School Primary Regular 433 33 2
Smith Middle School Middle Regular 775 53 4
Cleburne High School High Regular 1,653 110 4

Santa Fe Elementary School

  • Education Level: Primary
  • # of students: 433
  • # of teachers: 33
2
GreatSchools Rating

Smith Middle School

  • Education Level: Middle
  • # of students: 775
  • # of teachers: 53
4
GreatSchools Rating

Cleburne High School

  • Education Level: High
  • # of students: 1,653
  • # of teachers: 110
4
GreatSchools Rating
 

$163,710$200,090$181,900

PURCHASE PRICE

$1,269$1,551$1,410

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,410
EXPENSES Loan Payment -$671
Property Tax -$448
Property Insurance -$103
Property Management Fees -$99
CASH FLOW
$90

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.

$181,900

PROJECTED PRICE

$1,410

PROJECTED RENT

0.78%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.74%
Appreciation Year (1-5) 7.0%
Maintenance Year (1-5) 3.00%
Vacancy 6.69%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$50,204

INVESTMENT

$50,204

Down Payment
$45,475
Rehab Estimate
$2,000
Closing Costs
$2,729

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$671

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $45,475
Loan Amount $136,425
See What Happens When You Reinvest Cash Flow

6.67

YEARS SAVED

$17,199

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,410

    LIST RENT
  • $1.08

    LIST RENT PER SQFT
  • $1,407

    COMP ESTIMATED VALUE
  • $1.08

    COMP AVG. RENT PER SQFT
Comps Range
$1,195
1$1,1952$1,4103$1,5504$1,600
$1,600
RENT COMPS ANALYSIS
  • 603 Mansfield Cleburne, TX 2
    • 3 beds 2 baths ∙ 1,303 Sqft ∙ Built 2020 3 beds 2 baths ∙ 1,303 Sqft ∙ Built 2020
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,410
    • $1.08
    •  
  • 207 Robbins Street Cleburne, TX 1
    • 3 beds 2 baths ∙ 1,090 Sqft ∙ Built 2020 3 beds 2 baths ∙ 1,090 Sqft ∙ Built 2020
    property image
    LEASED 04/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,195
    • $1.10
    •  
  • 216 Lovelady Cleburne, TX 3
    • 3 beds 2 baths ∙ 1,463 Sqft ∙ Built 2020 3 beds 2 baths ∙ 1,463 Sqft ∙ Built 2020
    property image
    LEASED 07/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $1.06
    •  
  • 1506 N Buffalo Avenue Cleburne, TX 4
    • 3 beds 2 baths ∙ 1,475 Sqft ∙ Built 2020 3 beds 2 baths ∙ 1,475 Sqft ∙ Built 2020
    property image
    LEASED 11/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $1.08
    •  
PROPERTY LISTING DETAILS
Gavin Hughes
Coldwell Banker Apex, Realtors
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14464991
Last Updated: 11/05/2020
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