Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

620 Blueberry Hill Lane Mansfield, TX 76063

3 Beds 2 Baths 1,441 sqft Built 1998

INVESTimate

$212,500

List Price

$1,480

$1,332 - $1,628

Rent Est.

$237,193  ( +11.62%)   1 YR EST. FORECAST

PROPERTY INFO

FACTS
  • Built In 1998
  • Price/Sqft : $147.47
  • 9 Days on Market
  • MLS # : 14415955
  • Updated Date : 08/19/2020 at 04:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,441 sqft
  • Baths : 2 full
Listing Agent

Arlington Park Realtors

Listing Agent's Description

STOP PAYING RENT and Take Advantage of Low Interest Rates. REMODELED. Lovely home for First Time Buyer. Great Mansfield Location. Easy access to Highways, Shopping, Entertainment, Schools. Completely REPAINTED Inside and Out. New Ceramic Tile in Entry and Living. NEW Wood Look Ceramic Floors in Bedrooms. Window Blinds. Ceiling Fans. New GRANITE Counter Tops in Kitchen. Newer Kit SS Range with 2 Ovens. Bay Window Dining off Kitchen. Lots of counter and Cabinet Space. Spacious Liv Rm w WB Fireplace. NEW GRANITE Counter Tops in Baths. BONUS WALK IN BATH TUB in Hall Guest Bath. Double Sink Vanity in Master Baths. Walk In Closets in ALL Bedrooms. Sep. Laundry Rm. Garage Opener. Buyer Verify Schools

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: Berryhill

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280kPrice in $88k290k

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

Neighborhood: Berryhill

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700180019002000Rent in $9142016

* 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
Erma Nash Elementary School Primary Regular 622 43 8
Mary Orr Intermediate School Middle Regular 845 53 7
Mansfield Lake Ridge High School High Unknown 2,085 113 NA

Erma Nash Elementary School

  • Education Level: Primary
  • # of students: 622
  • # of teachers: 43
8
GreatSchools Rating

Mary Orr Intermediate School

  • Education Level: Middle
  • # of students: 845
  • # of teachers: 53
7
GreatSchools Rating

Mansfield Lake Ridge High School

  • Education Level: High
  • # of students: 2,085
  • # of teachers: 113
NA
GreatSchools Rating
 

$191,250$233,750$212,500

PURCHASE PRICE

$1,332$1,628$1,480

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$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$600k$700k$800k

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,480
EXPENSES Loan Payment -$784
Property Tax -$504
Property Insurance -$110
Property Management Fees -$99
CASH FLOW
-$17

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.

$212,500

PROJECTED PRICE

$1,480

PROJECTED RENT

0.70%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.74%
Appreciation Year (1-5) 11.62%
Maintenance Year (1-5) 8.00%
Vacancy 6.69%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$62,063

INVESTMENT

$62,063

Down Payment
$53,125
Rehab Estimate
$5,750
Closing Costs
$3,188

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$784

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $53,125
Loan Amount $159,375
See What Happens When You Reinvest Cash Flow

3.92

YEARS SAVED

$9,226

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,480

    LIST RENT
  • $1.03

    LIST RENT PER SQFT
  • $1,527

    COMP ESTIMATED VALUE
  • $1.06

    COMP AVG. RENT PER SQFT
Comps Range
$1,480
1$1,4802$1,5253$1,5494$1,5955$1,715
$1,715
RENT COMPS ANALYSIS
  • 620 Blueberry Hill Lane Mansfield, TX 1
    • 3 beds 2 baths ∙ 1,441 Sqft ∙ Built 1998 3 beds 2 baths ∙ 1,441 Sqft ∙ Built 1998
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,480
    • $1.03
    •  
  • 611 Dayton Road Mansfield, TX 2
    • 3 beds 2 baths ∙ 1,528 Sqft ∙ Built 1989 3 beds 2 baths ∙ 1,528 Sqft ∙ Built 1989
    property image
    LEASED 03/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,525
    • $1.00
    •  
  • 608 Dayton Road Mansfield, TX 3
    • 3 beds 2 baths ∙ 1,445 Sqft ∙ Built 1987 3 beds 2 baths ∙ 1,445 Sqft ∙ Built 1987
    property image
    LEASED 01/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,549
    • $1.07
    •  
  • 513 Hollyberry Drive Mansfield, TX 4
    • 3 beds 2 baths ∙ 1,475 Sqft ∙ Built 2000 3 beds 2 baths ∙ 1,475 Sqft ∙ Built 2000
    property image
    LEASED 07/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $1.08
    •  
  • 618 Plainview Drive Mansfield, TX 5
    • 3 beds 2 baths ∙ 1,570 Sqft ∙ Built 1988 3 beds 2 baths ∙ 1,570 Sqft ∙ Built 1988
    property image
    LEASED 08/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,715
    • $1.09
    •  
PROPERTY LISTING DETAILS
Gina Floyd
Arlington Park Realtors
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14415955
Last Updated: 08/19/2020
BESbswy