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1926 Palace Drive Grand Prairie, TX 75050

4 Beds 2 Baths 2,521 sqft Built 1994

$329,900

List Price

$2,000

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

February 03, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1994
  • Price/Sqft : $130.86
  • 5 Days on Market
  • MLS # : 14509006
  • Updated Date : 02/03/2021 at 20:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,521 sqft
  • Baths : 2 full
Listing Agent

Exp Realty Llc

Listing Agent's Description

Hard to find spacious, four bedroom, one story home on a Cul-de-Sac in Arlington ISD! Features large open kitchen with eat-in breakfast area, granite countertops, decorative backsplash and gas cooktop. Your new home has a large master bedroom with recently remodeled ensuite and walkin closet. The three other bedrooms are split from the master and feature a jack and jill bathroom. A seprate office makes it easy to work from home or can offer a private place for studying. The formal dining room is great for family get togethers! Outdoors offers a covered patio, raised sun deck, recently stained fence and expanded driveway to park three cars or trucks!

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: Fairway Bend

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $109k336k

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

Neighborhood: Fairway Bend

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001200140016001800200022002400Rent in $9592557

* 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
Nichols Junior High School Middle Regular 760 70 4
Lamar High School High Regular 2,918 185 3
Nichols Junior High School Middle Unknown NA

Nichols Junior High School

  • Education Level: Middle
  • # of students: 760
  • # of teachers: 70
4
GreatSchools Rating

Lamar High School

  • Education Level: High
  • # of students: 2,918
  • # of teachers: 185
3
GreatSchools Rating

Nichols Junior High School

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

$296,910$362,890$329,900

PURCHASE PRICE

$1,800$2,200$2,000

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,000
EXPENSES Loan Payment -$1,146
Property Tax -$724
Property Insurance -$173
Property Management Fees -$99
CASH FLOW
-$142

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 15% of earned rent to cover both maintenance and periods of vacancy.

$329,900

PROJECTED PRICE

$2,000

PROJECTED RENT

0.61%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 10.2%
Maintenance Year (1-5) 8.00%
Vacancy 6.93%
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

PROJECTED ANNUAL CASH FLOW

11530-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$93,174

INVESTMENT

$93,174

Down Payment
$82,475
Rehab Estimate
$5,750
Closing Costs
$4,949

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$1,146

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $82,475
Loan Amount $247,425
See What Happens When You Reinvest Cash Flow

2.25

YEARS SAVED

$5,378

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,000

    LIST RENT
  • $0.79

    LIST RENT PER SQFT
  • $2,160

    COMP ESTIMATED VALUE
  • $0.86

    COMP AVG. RENT PER SQFT
Comps Range
$2,000
1$2,0002$2,0953$2,1504$2,200
$2,200
RENT COMPS ANALYSIS
  • 1926 Palace Drive Grand Prairie, TX 1
    • 4 beds 2 baths ∙ 2,521 Sqft ∙ Built 1994 4 beds 2 baths ∙ 2,521 Sqft ∙ Built 1994
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.79
    •  
  • 1756 Sunset Ridge Drive Grand Prairie, TX 2
    • 3 beds 2 baths ∙ 2,517 Sqft ∙ Built 2002 3 beds 2 baths ∙ 2,517 Sqft ∙ Built 2002
    LEASED 12/02/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,095
    • $0.83
    •  
  • 1740 Hidden Brook Drive Grand Prairie, TX 3
    • 4 beds 3 baths ∙ 2,582 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,582 Sqft ∙ Built 2005
    LEASED 12/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $0.83
    •  
  • 2440 Kingsley Drive Grand Prairie, TX 4
    • 4 beds 3 baths ∙ 2,430 Sqft ∙ Built 2002 4 beds 3 baths ∙ 2,430 Sqft ∙ Built 2002
    LEASED 06/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.91
    •  
PROPERTY LISTING DETAILS
Jerene Olivas
Exp Realty Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14509006
Last Updated: 02/03/2021
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