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1027 Fleetwood Cove Drive Grand Prairie, TX 75052

5 Beds 3 Baths 3,084 sqft Built 2006

$365,000

List Price

$2,410

$2.2K - $2.7K

Rent Est.

PROPERTY INFO

February 11, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2006
  • Price/Sqft : $118.35
  • 4 Days on Market
  • MLS # : 14512496
  • Updated Date : 02/12/2021 at 22:08
CONSTRUCTION
  • Beds : 5
  • Floor Size : 3,084 sqft
  • Baths : 3 full
Listing Agent

Jp & Associates Addison

Listing Agent's Description

This stunning home is Conveniently situated between Hwy 360, I-20 and Tollway 161 and less than 10 minutes from Joe Pool Lake. This spacious 2 story comfy home has everything you need. 5 bedrooms, 3 full baths and a bonus room upstairs. Master is split on the first floor. Flooring and carpet were recently installed in 2020. A new fence and New roof were also added in 2020. There is so much to see in this property, come check out for your self. Conveniently located to shopping, dining and highways.

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: Lakewood

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240kPrice in $109k258k

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

Neighborhood: Lakewood

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000110012001300140015001600170018001900Rent in $9591935

* 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
Moseley Elementary School Primary Regular 618 38 6
Harry S Truman Middle School Middle Regular 600 42 4
Dubiski Career High School High Regular 1,486 86 8

Moseley Elementary School

  • Education Level: Primary
  • # of students: 618
  • # of teachers: 38
6
GreatSchools Rating

Harry S Truman Middle School

  • Education Level: Middle
  • # of students: 600
  • # of teachers: 42
4
GreatSchools Rating

Dubiski Career High School

  • Education Level: High
  • # of students: 1,486
  • # of teachers: 86
8
GreatSchools Rating
 

$328,500$401,500$365,000

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 -$1,268
Property Tax -$889
Property Insurance -$205
HOA -$30
Property Management Fees -$99
CASH FLOW
-$81

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 14% of earned rent to cover both maintenance and periods of vacancy.

$365,000

PROJECTED PRICE

$2,410

PROJECTED RENT

0.66%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 10.6%
Maintenance Year (1-5) 8.00%
Vacancy 6.39%
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-$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$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$102,475

INVESTMENT

$102,475

Down Payment
$91,250
Rehab Estimate
$5,750
Closing Costs
$5,475

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,268

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $91,250
Loan Amount $273,750
See What Happens When You Reinvest Cash Flow

3

YEARS SAVED

$9,017

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
  • $0.78

    LIST RENT PER SQFT
  • $2,490

    COMP ESTIMATED VALUE
  • $0.81

    COMP AVG. RENT PER SQFT
Comps Range
$2,250
1$2,2502$2,3003$2,3004$2,3955$2,410
$2,410
RENT COMPS ANALYSIS
  • 1027 Fleetwood Cove Drive Grand Prairie, TX 5
    • 5 beds 3 baths ∙ 3,084 Sqft ∙ Built 2006 5 beds 3 baths ∙ 3,084 Sqft ∙ Built 2006
    • Rent
    • Rent Per SQFT
    •  
    • $2,410
    • $0.78
    •  
  • 1440 Fleetwood Cove Drive Grand Prairie, TX 1
    • 4 beds 3 baths ∙ 2,771 Sqft ∙ Built 2008 4 beds 3 baths ∙ 2,771 Sqft ∙ Built 2008
    LEASED 06/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $0.81
    •  
  • 5168 Finnhorse Drive Grand Prairie, TX 2
    • 4 beds 3 baths ∙ 2,933 Sqft ∙ Built 2009 4 beds 3 baths ∙ 2,933 Sqft ∙ Built 2009
    LEASED 02/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.78
    •  
  • 5331 Throckmorton Drive Grand Prairie, TX 3
    • 4 beds 3 baths ∙ 2,823 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,823 Sqft ∙ Built 2005
    LEASED 09/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.81
    •  
  • 1111 Fleetwood Cove Drive Grand Prairie, TX 4
    • 4 beds 3 baths ∙ 2,875 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,875 Sqft ∙ Built 2006
    LEASED 09/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,395
    • $0.83
    •  
PROPERTY LISTING DETAILS
Christine Nunez
Jp & Associates Addison
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14512496
Last Updated: 02/12/2021
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