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2148 W Grove Lane Grand Prairie, TX 75052

4 Beds 2 Baths 1,965 sqft Built 2004

$250,000

List Price

$1,870

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

January 28, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2004
  • Price/Sqft : $127.23
  • 4 Days on Market
  • MLS # : 14506358
  • Updated Date : 01/30/2021 at 16:15
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,965 sqft
  • Baths : 2 full
Listing Agent

Exp Realty, Llc

Listing Agent's Description

MULTIPLE OFFERS. Submit final and best offer by 12 noon February 1st. One story home with covered patio in back. Nice starter home for family. HVAC system replaced last year in May. Water heater replaced in May 2018. Roof was replace in January 2019 Close to new shopping, the new Epic water park, The Summit, the main police and fire station and the George Bush Toll Road to get you to North Dallas if needed. Situated in the middle of the Metroplex. Home was built by Centex.

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: Cimmaron Estates Grand Prairie

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240kPrice in $88k243k

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

Neighborhood: Cimmaron Estates Grand Prairie

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100011001200130014001500160017001800Rent in $9451848

* 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
Sallye Moore Elementary School Primary Regular 518 35 4
Andrew Jackson Middle School Middle Regular 1,128 68 6
Dubiski Career High School High Regular 1,486 86 8

Sallye Moore Elementary School

  • Education Level: Primary
  • # of students: 518
  • # of teachers: 35
4
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
 

$225,000$275,000$250,000

PURCHASE PRICE

$1,683$2,057$1,870

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,870
EXPENSES Loan Payment -$868
Property Tax -$609
Property Insurance -$141
Property Management Fees -$99
CASH FLOW
$153

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.

$250,000

PROJECTED PRICE

$1,870

PROJECTED RENT

0.75%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.74%
Appreciation Year (1-5) 9.7%
Maintenance Year (1-5) 8.00%
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

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k$900k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$72,000

INVESTMENT

$72,000

Down Payment
$62,500
Rehab Estimate
$5,750
Closing Costs
$3,750

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$868

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $62,500
Loan Amount $187,500
See What Happens When You Reinvest Cash Flow

7.17

YEARS SAVED

$21,749

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,870

    LIST RENT
  • $0.95

    LIST RENT PER SQFT
  • $1,852

    COMP ESTIMATED VALUE
  • $0.94

    COMP AVG. RENT PER SQFT
Comps Range
$1,695
1$1,6952$1,7953$1,8004$1,8705$1,980
$1,980
RENT COMPS ANALYSIS
  • 2148 W Grove Lane Grand Prairie, TX 4
    • 4 beds 2 baths ∙ 1,965 Sqft ∙ Built 2004 4 beds 2 baths ∙ 1,965 Sqft ∙ Built 2004
    • Rent
    • Rent Per SQFT
    •  
    • $1,870
    • $0.95
    •  
  • 3128 Ponds Edge Trail Grand Prairie, TX 1
    • 3 beds 2 baths ∙ 1,777 Sqft ∙ Built 1999 3 beds 2 baths ∙ 1,777 Sqft ∙ Built 1999
    LEASED 09/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.95
    •  
  • 2016 Southwood Trail Grand Prairie, TX 2
    • 4 beds 2 baths ∙ 2,001 Sqft ∙ Built 1998 4 beds 2 baths ∙ 2,001 Sqft ∙ Built 1998
    LEASED 05/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.90
    •  
  • 3129 Pheasant Run Court Grand Prairie, TX 3
    • 4 beds 2 baths ∙ 1,965 Sqft ∙ Built 1998 4 beds 2 baths ∙ 1,965 Sqft ∙ Built 1998
    LEASED 03/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.92
    •  
  • 2112 W Grove Lane Grand Prairie, TX 5
    • 4 beds 2 baths ∙ 1,979 Sqft ∙ Built 2004 4 beds 2 baths ∙ 1,979 Sqft ∙ Built 2004
    LEASED 04/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,980
    • $1.00
    •  
PROPERTY LISTING DETAILS
Cameron Butler
Exp Realty, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14506358
Last Updated: 01/30/2021
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