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1827 Royal Lake Drive Grand Prairie, TX 75052

5 Beds 4 Baths 3,431 sqft Built 2021

$465,000

List Price

$2,420

$2.2K - $2.7K

Rent Est.

PROPERTY INFO

Built 2021 NEW CONSTRUCTION
February 12, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2021
  • Price/Sqft : $135.53
  • 3 Days on Market
  • MLS # : 14518264
  • Updated Date : 02/12/2021 at 19:00
CONSTRUCTION
  • Beds : 5
  • Floor Size : 3,431 sqft
  • Baths : 3 full , 1 half
Listing Agent

Vivo Realty

Listing Agent's Description

Luxury and Comfort finally meet! This impressive, multi-generational (Harmony) floorplan offers a two story foyer which greets and leads to the elegant of the open floor plan. The Kitchen provides a walk in pantry, is surrounded by 42 inch upper cabinets and its open concept overlooks the dining and family room. The master bedroom is highlighted with a great walk in closet and deluxe master bathroom which features a soaking tub, dual sink vanity, and a glass enclosed shower. The secondary master bedroom is on the 1st floor and it offers a full bathroom and walk in closet. The outdoor covered patio and the upstairs game room are areas to enjoy and entertain.

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: Trailwood

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240kPrice in $88k243k

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

Neighborhood: Trailwood

NeighborhoodNIR Market*CityMarket2010Year20002019 Q290010001100120013001400150016001700Rent in $8931734

* 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
 

$418,500$511,500$465,000

PURCHASE PRICE

$2,178$2,662$2,420

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,420
EXPENSES Loan Payment -$1,615
Property Tax -$1,132
Property Insurance -$225
HOA -$50
Property Management Fees -$99
CASH FLOW
-$702

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.

$465,000

PROJECTED PRICE

$2,420

PROJECTED RENT

0.52%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.74%
Appreciation Year (1-5) 12.2%
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$1.2M$1.4M$1.6M$1.8M

PROJECTED ANNUAL CASH FLOW

11530-$14k-$12k-$10k-$8.0k-$6.0k-$4.0k-$2.0k$0.0

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M$1.8M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$125,225

INVESTMENT

$125,225

Down Payment
$116,250
Rehab Estimate
$2,000
Closing Costs
$6,975

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 80% down payment or higher enables the proceeds from the asset to cover all costs.

$1,615

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $116,250
Loan Amount $348,750
See What Happens When You Reinvest Cash Flow

-0.08

YEARS SAVED

-$6

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,420

    LIST RENT
  • $0.71

    LIST RENT PER SQFT
  • $2,385

    COMP ESTIMATED VALUE
  • $0.7

    COMP AVG. RENT PER SQFT
Comps Range
$2,195
1$2,1952$2,2003$2,4204$2,5505$2,550
$2,550
RENT COMPS ANALYSIS
  • 1827 Royal Lake Drive Grand Prairie, TX 3
    • 5 beds 4 baths ∙ 3,431 Sqft ∙ Built 2021 5 beds 4 baths ∙ 3,431 Sqft ∙ Built 2021
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,420
    • $0.71
    •  
  • 2631 Sicily Court Grand Prairie, TX 1
    • 5 beds 3 baths ∙ 3,092 Sqft ∙ Built 2010 5 beds 3 baths ∙ 3,092 Sqft ∙ Built 2010
    property image
    LEASED 01/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,195
    • $0.71
    •  
  • 5343 Maverick Drive Grand Prairie, TX 2
    • 5 beds 4 baths ∙ 3,334 Sqft ∙ Built 2004 5 beds 4 baths ∙ 3,334 Sqft ∙ Built 2004
    property image
    LEASED 12/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.66
    •  
  • 2340 Shackleford Trail Grand Prairie, TX 4
    • 4 beds 4 baths ∙ 3,638 Sqft ∙ Built 2006 4 beds 4 baths ∙ 3,638 Sqft ∙ Built 2006
    property image
    LEASED 01/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,550
    • $0.70
    •  
  • 2639 Excalibur Drive Grand Prairie, TX 5
    • 4 beds 4 baths ∙ 3,595 Sqft ∙ Built 2012 4 beds 4 baths ∙ 3,595 Sqft ∙ Built 2012
    property image
    LEASED 08/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,550
    • $0.71
    •  
PROPERTY LISTING DETAILS
Alfonso Gonzalez
Vivo Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14518264
Last Updated: 02/12/2021
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