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1034 Manning Street Grand Prairie, TX 75051

4 Beds 3 Baths 2,464 sqft Built 2020

$270,000

List Price

$2,090

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
October 31, 2020 RECENTLY ADDED
FACTS
  • Built In 2020
  • Price/Sqft : $109.58
  • 4 Days on Market
  • MLS # : 14463510
  • Updated Date : 11/02/2020 at 15:51
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,464 sqft
  • Baths : 3 full
Listing Agent

Listing Results, Llc

Listing Agent's Description

4 bedroom 3 bathrooms new construction completed in October 2020. 2,464 total sq ft, with 1,868 sq ft of living area. 2 car garage with covered patio in back. Stainless steel appliances throughout the kitchen with gas oven. Master bathroom has garden tub and shower as well as dual sinks and walk in closet.

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: Park Heights

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240kPrice in $65k243k

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

Neighborhood: Park Heights

NeighborhoodNIR Market*CityMarket2010Year20002019 Q270080090010001100120013001400150016001700Rent in $7001734

* 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
Patrick Elementary School Primary Regular NA
Carter Junior High School Middle Regular 1,091 75 4
Sam Houston High School High Regular 3,499 227 2

Patrick Elementary School

  • Education Level: Primary
  • # of students:
  • # of teachers:
NA
GreatSchools Rating

Carter Junior High School

  • Education Level: Middle
  • # of students: 1,091
  • # of teachers: 75
4
GreatSchools Rating

Sam Houston High School

  • Education Level: High
  • # of students: 3,499
  • # of teachers: 227
2
GreatSchools Rating
 

$243,000$297,000$270,000

PURCHASE PRICE

$1,881$2,299$2,090

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,090
EXPENSES Loan Payment -$996
Property Tax -$592
Property Insurance -$170
Property Management Fees -$99
CASH FLOW
$233

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 10% of earned rent to cover both maintenance and periods of vacancy.

$270,000

PROJECTED PRICE

$2,090

PROJECTED RENT

0.77%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.74%
Appreciation Year (1-5) 9.5%
Maintenance Year (1-5) 3.00%
Vacancy 6.69%
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$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$73,550

INVESTMENT

$73,550

Down Payment
$67,500
Rehab Estimate
$2,000
Closing Costs
$4,050

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% down payment or higher enables the proceeds from the asset to cover all costs.

$996

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $67,500
Loan Amount $202,500
See What Happens When You Reinvest Cash Flow

9.08

YEARS SAVED

$40,592

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,090

    LIST RENT
  • $0.85

    LIST RENT PER SQFT
  • $2,053

    COMP ESTIMATED VALUE
  • $0.83

    COMP AVG. RENT PER SQFT
Comps Range
$1,795
1$1,7952$1,9003$2,0904$2,200
$2,200
RENT COMPS ANALYSIS
  • 1034 Manning Street Grand Prairie, TX 3
    • 4 beds 3 baths ∙ 2,464 Sqft ∙ Built 2020 4 beds 3 baths ∙ 2,464 Sqft ∙ Built 2020
    • Rent
    • Rent Per SQFT
    •  
    • $2,090
    • $0.85
    •  
  • 2467 Canyon Springs Drive Grand Prairie, TX 1
    • 3 beds 3 baths ∙ 2,624 Sqft ∙ Built 2006 3 beds 3 baths ∙ 2,624 Sqft ∙ Built 2006
    LEASED 10/03/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.68
    •  
  • 2828 Fieldstone Drive Grand Prairie, TX 2
    • 4 beds 3 baths ∙ 2,374 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,374 Sqft ∙ Built 2006
    LEASED 10/02/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.80
    •  
  • 924 Bentwood Trail Grand Prairie, TX 4
    • 3 beds 3 baths ∙ 2,160 Sqft ∙ Built 2014 3 beds 3 baths ∙ 2,160 Sqft ∙ Built 2014
    LEASED 06/03/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $1.02
    •  
PROPERTY LISTING DETAILS
Jack Mclemore
Listing Results, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14463510
Last Updated: 11/02/2020
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