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702 Coal Creek Drive Mansfield, TX 76063

4 Beds 2 Baths 2,088 sqft Built 1996

$318,000

List Price

$2,030

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

December 03, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1996
  • Price/Sqft : $152.30
  • 4 Days on Market
  • MLS # : 14479031
  • Updated Date : 12/03/2020 at 17:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,088 sqft
  • Baths : 2 full
Listing Agent

Jp And Associates Arlington

Listing Agent's Description

Location is everything. Hurry this beauty wont last long. Granite countertops and updated fixtures through out the home. Large expansive pool with oversize cedar porch area. Also a small storage unit that will convey with the home. Even with the large pool there is still plenty of yard space left over for all of your family needs. Equipped with a three 3 car swing garage making even more desirable perfect for the growing family, or just entertaining with family and friends. Located in one of DFWS Top rated school districts and convenient shopping near by. Make this home perfect for anyone needing easy access commuting to Dallas or Fort Worth. This is where your family's new memories start.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • . 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)

PRICE & RENT TRENDS

Neighborhood: Antigua

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320kPrice in $123k336k

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

Neighborhood: Antigua

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2120013001400150016001700180019002000210022002300Rent in $11262350

* 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
Roberta Tipps Elementary School Primary Regular 666 42 8
Brooks Wester Middle School Middle Regular 872 51 8
Mansfield High School High Regular 2,333 123 8

Roberta Tipps Elementary School

  • Education Level: Primary
  • # of students: 666
  • # of teachers: 42
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
 

$286,200$349,800$318,000

PURCHASE PRICE

$1,827$2,233$2,030

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,030
EXPENSES Loan Payment -$1,173
Property Tax -$754
Property Insurance -$148
Property Management Fees -$99
CASH FLOW
-$144

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.

$318,000

PROJECTED PRICE

$2,030

PROJECTED RENT

0.64%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 9.2%
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-$6.0k-$4.0k-$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$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$90,020

INVESTMENT

$90,020

Down Payment
$79,500
Rehab Estimate
$5,750
Closing Costs
$4,770

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,173

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $79,500
Loan Amount $238,500
See What Happens When You Reinvest Cash Flow

2.33

YEARS SAVED

$6,459

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,030

    LIST RENT
  • $0.97

    LIST RENT PER SQFT
  • $2,156

    COMP ESTIMATED VALUE
  • $1.03

    COMP AVG. RENT PER SQFT
Comps Range
$1,990
1$1,9902$2,0303$2,0504$2,1005$2,150
$2,150
RENT COMPS ANALYSIS
  • 702 Coal Creek Drive Mansfield, TX 2
    • 4 beds 2 baths ∙ 2,088 Sqft ∙ Built 1996 4 beds 2 baths ∙ 2,088 Sqft ∙ Built 1996
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,030
    • $0.97
    •  
  • 634 Dover Heights Trail Mansfield, TX 1
    • 4 beds 2 baths ∙ 2,009 Sqft ∙ Built 2002 4 beds 2 baths ∙ 2,009 Sqft ∙ Built 2002
    property image
    LEASED 03/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,990
    • $0.99
    •  
  • 626 Saint Eric Drive Mansfield, TX 3
    • 4 beds 2 baths ∙ 2,001 Sqft ∙ Built 2001 4 beds 2 baths ∙ 2,001 Sqft ∙ Built 2001
    property image
    LEASED 03/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,050
    • $1.02
    •  
  • 608 Joy Lane Mansfield, TX 4
    • 3 beds 2 baths ∙ 2,018 Sqft ∙ Built 2001 3 beds 2 baths ∙ 2,018 Sqft ∙ Built 2001
    property image
    LEASED 03/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.04
    •  
  • 616 Joy Lane Mansfield, TX 5
    • 4 beds 2 baths ∙ 2,000 Sqft ∙ Built 1999 4 beds 2 baths ∙ 2,000 Sqft ∙ Built 1999
    property image
    LEASED 11/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $1.08
    •  
PROPERTY LISTING DETAILS
Kimberly Ladwig
Jp And Associates Arlington
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14479031
Last Updated: 12/03/2020
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