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8 Brookway Court Mansfield, TX 76063

3 Beds 3 Baths 2,668 sqft Built 1996

$390,000

List Price

$2,410

$2.2K - $2.7K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 11, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1996
  • Price/Sqft : $146.18
  • 4 Days on Market
  • MLS # : 14530161
  • Updated Date : 03/12/2021 at 17:33
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,668 sqft
  • Baths : 2 full , 1 half
Listing Agent

Tdt Realtors

Listing Agent's Description

Don't miss this beautiful home on a quiet culdesac lot with a pool, Home has a lovely floorplan with formals as you enter, Bedrooms are split to one side with the master tucked away at the rear of the home for added privacy. The spacious kitchen has been updated with new cabinets, granite, dishwasher and oven, Kitchen is open to breakfast and 2nd living space. There is a double pantry for ample storage and don't miss the massive laundry room that has room for 2nd refrigerator & deep freezer. Master bedroom has a large closet, high ceilings, door to outside from the bathroom is perfect for pool, extra 9 feet in garage - great for storage or workshop. Roof replaced 2020, new HVAC 2018, Very well maintained

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: The Arbors of Creekwood

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360kPrice in $123k367k

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

Neighborhood: The Arbors of Creekwood

NeighborhoodNIR Market*CityMarket2010Year20002019 Q212001400160018002000220024002600Rent in $11262652

* 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
Willie Brown Elementary School Primary Regular 602 39 9
Rogene Worley Middle School Middle Regular 929 55 7
Mansfield High School High Regular 2,333 123 8

Willie Brown Elementary School

  • Education Level: Primary
  • # of students: 602
  • # of teachers: 39
9
GreatSchools Rating

Rogene Worley Middle School

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

Mansfield High School

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

$351,000$429,000$390,000

PURCHASE PRICE

$2,169$2,651$2,410

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,410
EXPENSES Loan Payment -$1,355
Property Tax -$924
Property Insurance -$181
HOA -$17
Property Management Fees -$99
CASH FLOW
-$166

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.

$390,000

PROJECTED PRICE

$2,410

PROJECTED RENT

0.62%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 4.7%
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-$8.0k-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k

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$109,100

INVESTMENT

$109,100

Down Payment
$97,500
Rehab Estimate
$5,750
Closing Costs
$5,850

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,355

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $97,500
Loan Amount $292,500
See What Happens When You Reinvest Cash Flow

2.17

YEARS SAVED

$5,934

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,410

    LIST RENT
  • $0.9

    LIST RENT PER SQFT
  • $2,461

    COMP ESTIMATED VALUE
  • $0.92

    COMP AVG. RENT PER SQFT
Comps Range
$2,195
1$2,1952$2,3753$2,4104$2,8005$2,800
$2,800
RENT COMPS ANALYSIS
  • 8 Brookway Court Mansfield, TX 3
    • 3 beds 3 baths ∙ 2,668 Sqft ∙ Built 1996 3 beds 3 baths ∙ 2,668 Sqft ∙ Built 1996
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,410
    • $0.90
    •  
  • 2623 Morgan Ann Avenue Mansfield, TX 1
    • 4 beds 2 baths ∙ 2,412 Sqft ∙ Built 2001 4 beds 2 baths ∙ 2,412 Sqft ∙ Built 2001
    property image
    LEASED 07/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,195
    • $0.91
    •  
  • 715 San Antonio Trail Mansfield, TX 2
    • 4 beds 2 baths ∙ 2,624 Sqft ∙ Built 2002 4 beds 2 baths ∙ 2,624 Sqft ∙ Built 2002
    property image
    LEASED 12/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,375
    • $0.91
    •  
  • 2114 Kingsbury Road Mansfield, TX 4
    • 4 beds 3 baths ∙ 3,017 Sqft ∙ Built 2006 4 beds 3 baths ∙ 3,017 Sqft ∙ Built 2006
    property image
    LEASED 02/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $0.93
    •  
  • 2100 Hodges Place Mansfield, TX 5
    • 4 beds 4 baths ∙ 2,969 Sqft ∙ Built 2003 4 beds 4 baths ∙ 2,969 Sqft ∙ Built 2003
    property image
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $0.94
    •  
PROPERTY LISTING DETAILS
Elizabeth Deane
Tdt Realtors
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14530161
Last Updated: 03/12/2021
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