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1833 Hardy Road Grand Prairie, TX 75051

4 Beds 3 Baths 2,296 sqft Built 2020

$330,000

List Price

$1,840

$1.7K - $2K

Rent Est.

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
November 04, 2020 RECENTLY ADDED
FACTS
  • Built In 2020
  • Price/Sqft : $143.73
  • 5 Days on Market
  • MLS # : 14465496
  • Updated Date : 11/04/2020 at 17:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,296 sqft
  • Baths : 2 full , 1 half
Listing Agent

Jp And Associates Arlington

Listing Agent's Description

Just in time for holidays, estimated completion is 1st week of December! This beautiful new construction home features 2,296 sq ft, 4 bedrooms, 2.5 bathrooms, 2 car garage with covered back patio. Bright spacious open concept living room opens up to full dining area and gorgeous kitchen with granite countertops Stainless Steal appliances, built in microwave, electric range, and custom cabinets. 1st level master retreat includes private ensuite double vanity, walk in shower, and large closet with built in shelves. You'll also enjoy a second living space upstairs that could be a fun game room or cozy media room perfect for entertaining. Close to shopping, Epic Water Park, centrally located between hwy 20 & 30.

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: Lake Crest

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240kPrice in $96k243k

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

Neighborhood: Lake Crest

NeighborhoodNIR Market*CityMarket2010Year20002019 Q290010001100120013001400150016001700Rent in $8341734

* 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
Hobbs Williams Elementary School Primary Regular 612 38 4
Young Mens Leadership Academy At Kennedy Middle School Middle Regular 895 64 NA
Dubiski Career High School High Regular 1,486 86 8

Hobbs Williams Elementary School

  • Education Level: Primary
  • # of students: 612
  • # of teachers: 38
4
GreatSchools Rating

Young Mens Leadership Academy At Kennedy Middle School

  • Education Level: Middle
  • # of students: 895
  • # of teachers: 64
NA
GreatSchools Rating

Dubiski Career High School

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

$297,000$363,000$330,000

PURCHASE PRICE

$1,656$2,024$1,840

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,840
EXPENSES Loan Payment -$1,218
Property Tax -$803
Property Insurance -$160
Property Management Fees -$99
CASH FLOW
-$440

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 9% of earned rent to cover both maintenance and periods of vacancy.

$330,000

PROJECTED PRICE

$1,840

PROJECTED RENT

0.56%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 9.5%
Maintenance Year (1-5) 3.00%
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-$8.0k-$6.0k-$4.0k-$2.0k$0.0$2.0k

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$89,450

INVESTMENT

$89,450

Down Payment
$82,500
Rehab Estimate
$2,000
Closing Costs
$4,950

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 75% down payment or higher enables the proceeds from the asset to cover all costs.

$1,218

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $82,500
Loan Amount $247,500
See What Happens When You Reinvest Cash Flow

0.17

YEARS SAVED

$60

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,840

    LIST RENT
  • $0.8

    LIST RENT PER SQFT
  • $1,837

    COMP ESTIMATED VALUE
  • $0.8

    COMP AVG. RENT PER SQFT
Comps Range
$1,800
1$1,8002$1,8403$1,8504$1,9505$2,000
$2,000
RENT COMPS ANALYSIS
  • 1833 Hardy Road Grand Prairie, TX 2
    • 4 beds 3 baths ∙ 2,296 Sqft ∙ Built 2020 4 beds 3 baths ∙ 2,296 Sqft ∙ Built 2020
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,840
    • $0.80
    •  
  • 1318 Pigeon Court Dallas, TX 1
    • 3 beds 3 baths ∙ 2,184 Sqft ∙ Built 2008 3 beds 3 baths ∙ 2,184 Sqft ∙ Built 2008
    property image
    LEASED 05/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.82
    •  
  • 1043 Carlsbad Drive Grand Prairie, TX 3
    • 4 beds 3 baths ∙ 2,465 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,465 Sqft ∙ Built 2004
    property image
    LEASED 02/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.75
    •  
  • 1966 Courtside Drive Dallas, TX 4
    • 5 beds 4 baths ∙ 2,382 Sqft ∙ Built 2006 5 beds 4 baths ∙ 2,382 Sqft ∙ Built 2006
    property image
    LEASED 02/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.82
    •  
  • 623 Cancun Street Grand Prairie, TX 5
    • 4 beds 3 baths ∙ 2,479 Sqft ∙ Built 2007 4 beds 3 baths ∙ 2,479 Sqft ∙ Built 2007
    property image
    LEASED 06/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.81
    •  
PROPERTY LISTING DETAILS
Julie Duran-ramirez
Jp And Associates Arlington
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14465496
Last Updated: 11/04/2020
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