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705 Nightingale Circle Mansfield, TX 76063

3 Beds 2 Baths 1,448 sqft Built 1991

$230,000

List Price

$1,480

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 27, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1991
  • Price/Sqft : $158.84
  • 3 Days on Market
  • MLS # : 14523291
  • Updated Date : 02/27/2021 at 10:53
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,448 sqft
  • Baths : 2 full
Listing Agent

Exp Realty Llc

Listing Agent's Description

Enjoy this darling home with light-filled living spaces, vaulted ceilings, and a large family room featuring a wood-burning fireplace. Grab a bite at the breakfast bar in your kitchen featuring a stainless refrigerator that can stay. Step out on the patio or on your front porch for some shade under the oaks on your property. Working from home these days? If it's time for a break take a 2-minute drive for a bit of fresh air at Catherine Rose Park. For dining out, head over to one of the many restaurants nearby, no matter if you've got a taste for sushi, wings, or something in between, you'll have plenty to choose from. And Walnut Creek Country Club is only nine minutes up the road. What more could you want?

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: North Ridge at Mansfield

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280kPrice in $88k290k

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

Neighborhood: North Ridge at Mansfield

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700180019002000Rent in $9152016

* 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
Alice Ponder Elementary School Primary Regular 494 37 7
Rogene Worley Middle School Middle Regular 929 55 7
Mansfield Legacy High School High Regular 1,945 103 6

Alice Ponder Elementary School

  • Education Level: Primary
  • # of students: 494
  • # of teachers: 37
7
GreatSchools Rating

Rogene Worley Middle School

  • Education Level: Middle
  • # of students: 929
  • # of teachers: 55
7
GreatSchools Rating

Mansfield Legacy High School

  • Education Level: High
  • # of students: 1,945
  • # of teachers: 103
6
GreatSchools Rating
 

$207,000$253,000$230,000

PURCHASE PRICE

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

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,480
EXPENSES Loan Payment -$799
Property Tax -$545
Property Insurance -$111
Property Management Fees -$99
CASH FLOW
-$74

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.

$230,000

PROJECTED PRICE

$1,480

PROJECTED RENT

0.64%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.74%
Appreciation Year (1-5) 10.5%
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$700k$800k

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$66,700

INVESTMENT

$66,700

Down Payment
$57,500
Rehab Estimate
$5,750
Closing Costs
$3,450

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$799

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $57,500
Loan Amount $172,500
See What Happens When You Reinvest Cash Flow

2.5

YEARS SAVED

$4,594

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
  • $1.02

    LIST RENT PER SQFT
  • $1,575

    COMP ESTIMATED VALUE
  • $1.09

    COMP AVG. RENT PER SQFT
Comps Range
$1,480
1$1,4802$1,5503$1,5954$1,6005$1,800
$1,800
RENT COMPS ANALYSIS
  • 705 Nightingale Circle Mansfield, TX 1
    • 3 beds 2 baths ∙ 1,448 Sqft ∙ Built 1991 3 beds 2 baths ∙ 1,448 Sqft ∙ Built 1991
    • Rent
    • Rent Per SQFT
    •  
    • $1,480
    • $1.02
    •  
  • 800 Canary Lane Mansfield, TX 2
    • 3 beds 2 baths ∙ 1,457 Sqft ∙ Built 1991 3 beds 2 baths ∙ 1,457 Sqft ∙ Built 1991
    LEASED 01/05/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $1.06
    •  
  • 1301 Brookfield Lane Mansfield, TX 3
    • 3 beds 2 baths ∙ 1,525 Sqft ∙ Built 1982 3 beds 2 baths ∙ 1,525 Sqft ∙ Built 1982
    LEASED 06/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $1.05
    •  
  • 709 Nightingale Circle Mansfield, TX 4
    • 3 beds 2 baths ∙ 1,400 Sqft ∙ Built 1991 3 beds 2 baths ∙ 1,400 Sqft ∙ Built 1991
    LEASED 09/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $1.14
    •  
  • 200 Yosemite Drive Mansfield, TX 5
    • 3 beds 2 baths ∙ 1,642 Sqft ∙ Built 1998 3 beds 2 baths ∙ 1,642 Sqft ∙ Built 1998
    LEASED 05/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $1.10
    •  
PROPERTY LISTING DETAILS
Ken Lowe
Exp Realty Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14523291
Last Updated: 02/27/2021
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