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7 Lake Glen Court Mansfield, TX 76063

5 Beds 4 Baths 3,720 sqft Built 2000

$420,000

List Price

$2,770

$2.5K - $3K

Rent Est.

PROPERTY INFO

November 11, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2000
  • Price/Sqft : $112.90
  • 5 Days on Market
  • MLS # : 14469725
  • Updated Date : 11/11/2020 at 16:00
CONSTRUCTION
  • Beds : 5
  • Floor Size : 3,720 sqft
  • Baths : 4 full
Listing Agent

Coldwell Banker Realty

Listing Agent's Description

Welcome home to this beautiful home nestled in the quiet streets of the highly desirable Walnut Creek. This home offers five bedrooms, four baths and has an open layout for entertaining and a spacious kitchen that will be the dream of ANY home chef. The home sits on a cul-de-sac lot giving space to ample parking. Fresh paint and tile throughout the home brings warmth and a brightness that any buyer can appreciate. One of our favorite areas of this home is the serene backyard, beautifully maintained ready to welcome any cookouts or gatherings. The list of features go on and on, MUST see to appreciate!

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: Walnut Creek North

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340kPrice in $123k345k

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

Neighborhood: Walnut Creek North

NeighborhoodNIR Market*CityMarket2010Year20002019 Q212001300140015001600170018001900200021002200230024002500Rent in $11262571

* 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.l. Boren Elementary School Primary Regular 567 36 8
Brooks Wester Middle School Middle Regular 872 51 8
Mansfield High School High Regular 2,333 123 8

J.l. Boren Elementary School

  • Education Level: Primary
  • # of students: 567
  • # of teachers: 36
8
GreatSchools Rating

Brooks Wester Middle School

  • Education Level: Middle
  • # of students: 872
  • # of teachers: 51
8
GreatSchools Rating

Mansfield High School

  • Education Level: High
  • # of students: 2,333
  • # of teachers: 123
8
GreatSchools Rating
 

$378,000$462,000$420,000

PURCHASE PRICE

$2,493$3,047$2,770

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,770
EXPENSES Loan Payment -$1,550
Property Tax -$996
Property Insurance -$242
HOA -$17
Property Management Fees -$99
CASH FLOW
-$133

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.

$420,000

PROJECTED PRICE

$2,770

PROJECTED RENT

0.66%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 7.0%
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$1.2M

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$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$117,050

INVESTMENT

$117,050

Down Payment
$105,000
Rehab Estimate
$5,750
Closing Costs
$6,300

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,550

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $105,000
Loan Amount $315,000
See What Happens When You Reinvest Cash Flow

2.67

YEARS SAVED

$11,201

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,770

    LIST RENT
  • $0.74

    LIST RENT PER SQFT
  • $2,781

    COMP ESTIMATED VALUE
  • $0.75

    COMP AVG. RENT PER SQFT
Comps Range
$2,595
1$2,5952$2,7003$2,7704$2,9005$2,995
$2,995
RENT COMPS ANALYSIS
  • 7 Lake Glen Court Mansfield, TX 3
    • 5 beds 4 baths ∙ 3,720 Sqft ∙ Built 2000 5 beds 4 baths ∙ 3,720 Sqft ∙ Built 2000
    • Rent
    • Rent Per SQFT
    •  
    • $2,770
    • $0.74
    •  
  • 1211 Manchester Drive Mansfield, TX 1
    • 5 beds 4 baths ∙ 3,562 Sqft ∙ Built 2003 5 beds 4 baths ∙ 3,562 Sqft ∙ Built 2003
    LEASED 12/26/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,595
    • $0.73
    •  
  • 8218 Ithaca Drive Arlington, TX 2
    • 5 beds 4 baths ∙ 3,698 Sqft ∙ Built 2002 5 beds 4 baths ∙ 3,698 Sqft ∙ Built 2002
    LEASED 10/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $0.73
    •  
  • 1021 Manchester Drive Mansfield, TX 4
    • 5 beds 4 baths ∙ 3,839 Sqft ∙ Built 2003 5 beds 4 baths ∙ 3,839 Sqft ∙ Built 2003
    LEASED 03/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,900
    • $0.76
    •  
  • 206 Cabotwood Trail Mansfield, TX 5
    • 6 beds 4 baths ∙ 3,881 Sqft ∙ Built 2004 6 beds 4 baths ∙ 3,881 Sqft ∙ Built 2004
    LEASED 06/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,995
    • $0.77
    •  
PROPERTY LISTING DETAILS
Quynh Le
Coldwell Banker Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14469725
Last Updated: 11/11/2020
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