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902 Dove Haven Drive Mansfield, TX 76063

4 Beds 3 Baths 3,034 sqft Built 2018

$375,000

List Price

$2,250

$2K - $2.5K

Rent Est.

PROPERTY INFO

November 03, 2020 RECENTLY ADDED
FACTS
  • Built In 2018
  • Price/Sqft : $123.60
  • 6 Days on Market
  • MLS # : 14464181
  • Updated Date : 11/04/2020 at 16:01
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,034 sqft
  • Baths : 2 full , 1 half
Listing Agent

Coldwell Banker Apex, Realtors

Listing Agent's Description

Practically new Bloomfield home located on a cul-de-sac is ready to be yours! As you enter there is a large space able to be used as a formal dining or living or study. The enormous kitchen is filled with cabinets and plentiful workspace. Enjoy delicious meals cooked on the gas range. You'll be amazed at the walk-in pantry. Cozy up to the fireplace in the den. As you move into the master suite, the wood floors continue from the den. A large closet, dual sinks and separate shower in the master bath. Upstairs are 3 large bedrooms, game room and media room. The upstairs bath has dual sinks and separate shower area. The oversized backyard features a covered patio. Be in your new home for the holidays!

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

Zip Code: 76063

ZipNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320kPrice in $123k336k

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

Zip Code: 76063

ZipNIR Market*CityMarket2010Year20002019 Q21200130014001500160017001800190020002100Rent in $11262171

* 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
Mary Orr Intermediate School Primary Regular 845 53 7
Mary Orr Intermediate School Middle Regular 845 53 7
Mansfield Lake Ridge High School High Unknown 2,085 113 NA

Mary Orr Intermediate School

  • Education Level: Primary
  • # of students: 845
  • # of teachers: 53
7
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
 

$337,500$412,500$375,000

PURCHASE PRICE

$2,025$2,475$2,250

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,250
EXPENSES Loan Payment -$1,384
Property Tax -$851
Property Insurance -$203
HOA -$40
Property Management Fees -$99
CASH FLOW
-$326

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.

$375,000

PROJECTED PRICE

$2,250

PROJECTED RENT

0.60%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 7.1%
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-$10k-$8.0k-$6.0k-$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$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$105,125

INVESTMENT

$105,125

Down Payment
$93,750
Rehab Estimate
$5,750
Closing Costs
$5,625

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$1,384

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $93,750
Loan Amount $281,250
See What Happens When You Reinvest Cash Flow

0.75

YEARS SAVED

$1,609

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,250

    LIST RENT
  • $0.74

    LIST RENT PER SQFT
  • $2,397

    COMP ESTIMATED VALUE
  • $0.79

    COMP AVG. RENT PER SQFT
Comps Range
$2,095
1$2,0952$2,2003$2,2504$2,295
$2,295
RENT COMPS ANALYSIS
  • 902 Dove Haven Drive Mansfield, TX 3
    • 4 beds 3 baths ∙ 3,034 Sqft ∙ Built 2018 4 beds 3 baths ∙ 3,034 Sqft ∙ Built 2018
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $0.74
    •  
  • 1411 Chase Trail Mansfield, TX 1
    • 4 beds 3 baths ∙ 2,760 Sqft ∙ Built 2008 4 beds 3 baths ∙ 2,760 Sqft ∙ Built 2008
    LEASED 12/16/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,095
    • $0.76
    •  
  • 816 Cutting Horse Drive Mansfield, TX 2
    • 4 beds 3 baths ∙ 2,896 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,896 Sqft ∙ Built 2006
    LEASED 10/28/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.76
    •  
  • 1307 Concho Trail Mansfield, TX 4
    • 4 beds 3 baths ∙ 2,687 Sqft ∙ Built 2009 4 beds 3 baths ∙ 2,687 Sqft ∙ Built 2009
    LEASED 08/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,295
    • $0.85
    •  
PROPERTY LISTING DETAILS
Renee Brendle
Coldwell Banker Apex, Realtors
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14464181
Last Updated: 11/04/2020
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