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1352 Lake Forest Drive Grand Prairie, TX 75052

4 Beds 3 Baths 2,454 sqft Built 2006

$300,000

List Price

$2,090

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

December 30, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2006
  • Price/Sqft : $122.25
  • 5 Days on Market
  • MLS # : 14490597
  • Updated Date : 12/30/2020 at 17:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,454 sqft
  • Baths : 2 full , 1 half
Listing Agent

Opendoor Brokerage, Llc

Listing Agent's Description

This Grand Prairie two-story cul-de-sac home offers granite countertops and a two-car garage. This home is vacant and cleaned regularly.

SEE MORE

MARKET HIGHLIGHTS

  • # 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)
  • . Dallas has 7th largest concentration of high-tech jobs in the U.S. (Dallas Chamber)

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
 

$270,000$330,000$300,000

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 -$1,107
Property Tax -$730
Property Insurance -$169
HOA -$30
Property Management Fees -$99
CASH FLOW
-$45

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.

$300,000

PROJECTED PRICE

$2,090

PROJECTED RENT

0.70%

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

PROJECTED ANNUAL CASH FLOW

11530-$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$85,250

INVESTMENT

$85,250

Down Payment
$75,000
Rehab Estimate
$5,750
Closing Costs
$4,500

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,107

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $75,000
Loan Amount $225,000
See What Happens When You Reinvest Cash Flow

3.5

YEARS SAVED

$11,360

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
  • $2,086

    COMP ESTIMATED VALUE
  • $0.85

    COMP AVG. RENT PER SQFT
Comps Range
$1,995
1$1,9952$1,9983$2,0204$2,0905$2,100
$2,100
RENT COMPS ANALYSIS
  • 1352 Lake Forest Drive Grand Prairie, TX 4
    • 4 beds 3 baths ∙ 2,454 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,454 Sqft ∙ Built 2006
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,090
    • $0.85
    •  
  • 2203 Terrell Drive Grand Prairie, TX 1
    • 4 beds 3 baths ∙ 2,502 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,502 Sqft ∙ Built 2005
    property image
    LEASED 01/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.80
    •  
  • 1016 Fleetwood Cove Drive Grand Prairie, TX 2
    • 4 beds 2 baths ∙ 2,375 Sqft ∙ Built 2006 4 beds 2 baths ∙ 2,375 Sqft ∙ Built 2006
    property image
    LEASED 12/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,998
    • $0.84
    •  
  • 815 Fair Oaks Drive Grand Prairie, TX 3
    • 4 beds 2 baths ∙ 2,375 Sqft ∙ Built 2005 4 beds 2 baths ∙ 2,375 Sqft ∙ Built 2005
    property image
    LEASED 05/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,020
    • $0.85
    •  
  • 5068 Kite Road Grand Prairie, TX 5
    • 4 beds 2 baths ∙ 2,319 Sqft ∙ Built 2014 4 beds 2 baths ∙ 2,319 Sqft ∙ Built 2014
    property image
    LEASED 08/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.91
    •  
PROPERTY LISTING DETAILS
Feras Rachid
Opendoor Brokerage, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14490597
Last Updated: 12/30/2020
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