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626 S Walnut Creek Drive Mansfield, TX 76063

3 Beds 2 Baths 1,243 sqft Built 1987

$215,000

List Price

$1,350

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

January 21, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1987
  • Price/Sqft : $172.97
  • 4 Days on Market
  • MLS # : 14504147
  • Updated Date : 01/22/2021 at 13:27
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,243 sqft
  • Baths : 2 full
Listing Agent

Coldwell Banker Realty

Listing Agent's Description

MULTIPLE OFFERS RECEIVED! Highest and best due Sunday 1.24.21 by 5:00PM! Absolutely adorable 3-2-1 with large trees and back deck, updated in the last few years. Large backyard and close to everything! Great colors and finishes make this a perfect home at a great price!

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: Hillcrest West

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280kPrice in $82k290k

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

Neighborhood: Hillcrest West

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700180019002000Rent in $9192016

* 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
 

$193,500$236,500$215,000

PURCHASE PRICE

$1,215$1,485$1,350

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,350
EXPENSES Loan Payment -$747
Property Tax -$510
Property Insurance -$99
Property Management Fees -$99
CASH FLOW
-$104

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.

$215,000

PROJECTED PRICE

$1,350

PROJECTED RENT

0.63%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.74%
Appreciation Year (1-5) 7.1%
Maintenance Year (1-5) 8.00%
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-$4.0k-$2.0k$0.0$2.0k$4.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$62,725

INVESTMENT

$62,725

Down Payment
$53,750
Rehab Estimate
$5,750
Closing Costs
$3,225

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$747

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $53,750
Loan Amount $161,250
See What Happens When You Reinvest Cash Flow

1.92

YEARS SAVED

$2,741

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,350

    LIST RENT
  • $1.09

    LIST RENT PER SQFT
  • $1,346

    COMP ESTIMATED VALUE
  • $1.08

    COMP AVG. RENT PER SQFT
Comps Range
$1,350
1$1,3502$1,4753$1,5494$1,6005$1,695
$1,695
RENT COMPS ANALYSIS
  • 626 S Walnut Creek Drive Mansfield, TX 1
    • 3 beds 2 baths ∙ 1,243 Sqft ∙ Built 1987 3 beds 2 baths ∙ 1,243 Sqft ∙ Built 1987
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $1.09
    •  
  • 612 Live Oak Drive Mansfield, TX 2
    • 3 beds 2 baths ∙ 1,375 Sqft ∙ Built 1977 3 beds 2 baths ∙ 1,375 Sqft ∙ Built 1977
    LEASED 08/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,475
    • $1.07
    •  
  • 608 Dayton Road Mansfield, TX 3
    • 3 beds 2 baths ∙ 1,445 Sqft ∙ Built 1987 3 beds 2 baths ∙ 1,445 Sqft ∙ Built 1987
    LEASED 01/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,549
    • $1.07
    •  
  • 620 Blueberry Hill Lane Mansfield, TX 4
    • 3 beds 2 baths ∙ 1,441 Sqft ∙ Built 1998 3 beds 2 baths ∙ 1,441 Sqft ∙ Built 1998
    LEASED 08/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $1.11
    •  
  • 618 Plainview Drive Mansfield, TX 5
    • 3 beds 2 baths ∙ 1,570 Sqft ∙ Built 1988 3 beds 2 baths ∙ 1,570 Sqft ∙ Built 1988
    LEASED 10/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $1.08
    •  
PROPERTY LISTING DETAILS
Hunter Short
Coldwell Banker Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14504147
Last Updated: 01/22/2021
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