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1139 Meadows Drive Grand Prairie, TX 75052

3 Beds 2 Baths 1,418 sqft Built 2000

$235,000

List Price

$1,490

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

November 20, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2000
  • Price/Sqft : $165.73
  • 3 Days on Market
  • MLS # : 14471976
  • Updated Date : 11/20/2020 at 17:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,418 sqft
  • Baths : 2 full
Listing Agent

Redfin Corporation

Listing Agent's Description

Incredibly charming single story home in amazing location! You'll feel right at home in this quiet neighborhood close to great schools, shopping, dining and easy access to PGBT tollway, I-20, and I-30. New floors throughout (no carpet)! All bedrooms have walk in closet. Backyard features covered patio and basketball hoop. Recent updates include new roof, window screens, and AC unit in 2020. Wifi Smart home features include smart garage opener and smart AC, plus pre-existing alarm system. 20 minutes from downtown Dallas & 15 minutes from Dallas Cowboys & Texas Rangers stadium! Close proximity to golf club, nature preserves, lakes-outdoor amenities, new indoor waterpark, and Lone Star racetrack! Don't miss out!

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: Meadow Park

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240kPrice in $89k243k

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

Neighborhood: Meadow Park

NeighborhoodNIR Market*CityMarket2010Year20002019 Q290010001100120013001400150016001700Rent in $8431734

* 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
Thurgood Marshall Leadership Academy Primary Regular 591 34 8
Andrew Jackson Middle School Middle Regular 1,128 68 6
Dubiski Career High School High Regular 1,486 86 8

Thurgood Marshall Leadership Academy

  • Education Level: Primary
  • # of students: 591
  • # of teachers: 34
8
GreatSchools Rating

Andrew Jackson Middle School

  • Education Level: Middle
  • # of students: 1,128
  • # of teachers: 68
6
GreatSchools Rating

Dubiski Career High School

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

$211,500$258,500$235,000

PURCHASE PRICE

$1,341$1,639$1,490

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,490
EXPENSES Loan Payment -$867
Property Tax -$572
Property Insurance -$109
Property Management Fees -$99
CASH FLOW
-$157

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.

$235,000

PROJECTED PRICE

$1,490

PROJECTED RENT

0.63%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 9.2%
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$100k$200k$300k$400k$500k$600k$700k$800k

PROJECTED ANNUAL CASH FLOW

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

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$68,025

INVESTMENT

$68,025

Down Payment
$58,750
Rehab Estimate
$5,750
Closing Costs
$3,525

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$867

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $58,750
Loan Amount $176,250
See What Happens When You Reinvest Cash Flow

1.5

YEARS SAVED

$2,525

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,490

    LIST RENT
  • $1.05

    LIST RENT PER SQFT
  • $1,326

    COMP ESTIMATED VALUE
  • $0.94

    COMP AVG. RENT PER SQFT
Comps Range
$1,450
1$1,4502$1,4753$1,4904$1,5955$1,625
$1,625
RENT COMPS ANALYSIS
  • 1139 Meadows Drive Grand Prairie, TX 3
    • 3 beds 2 baths ∙ 1,418 Sqft ∙ Built 2000 3 beds 2 baths ∙ 1,418 Sqft ∙ Built 2000
    • Rent
    • Rent Per SQFT
    •  
    • $1,490
    • $1.05
    •  
  • 3170 Walingford Drive Grand Prairie, TX 1
    • 3 beds 2 baths ∙ 1,587 Sqft ∙ Built 1995 3 beds 2 baths ∙ 1,587 Sqft ∙ Built 1995
    LEASED 09/27/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.91
    •  
  • 3326 Spring Meadow Lane Grand Prairie, TX 2
    • 3 beds 2 baths ∙ 1,602 Sqft ∙ Built 1995 3 beds 2 baths ∙ 1,602 Sqft ∙ Built 1995
    LEASED 04/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,475
    • $0.92
    •  
  • 652 Beatty Drive Grand Prairie, TX 4
    • 3 beds 2 baths ∙ 1,764 Sqft ∙ Built 1995 3 beds 2 baths ∙ 1,764 Sqft ∙ Built 1995
    LEASED 05/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.90
    •  
  • 2047 Crosbyton Lane Grand Prairie, TX 5
    • 3 beds 2 baths ∙ 1,609 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,609 Sqft ∙ Built 2005
    LEASED 12/23/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,625
    • $1.01
    •  
PROPERTY LISTING DETAILS
Sarah Mccrory
Redfin Corporation
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14471976
Last Updated: 11/20/2020
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