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2206 Ed Smith Court Grand Prairie, TX 75050

3 Beds 2 Baths 2,137 sqft Built 1980

$285,000

List Price

$1,740

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

November 03, 2020 RECENTLY ADDED
FACTS
  • Built In 1980
  • Price/Sqft : $133.36
  • 6 Days on Market
  • MLS # : 14462283
  • Updated Date : 11/05/2020 at 09:43
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,137 sqft
  • Baths : 2 full
Listing Agent

Exp Realty Llc

Listing Agent's Description

Beautiful home in a great location! The large, open family room has vaulted ceilings, beams, and a planked accent wall. The white brick fireplace is flanked by windows and the extended hearth provides extra seating for entertaining. Light and bright kitchen has been completely remodeled and boasts a double oven, breakfast bar, and granite counter tops. Plush new carpeting in all of the bedrooms. French doors lead out onto the courtyard patio. The tall fence provides plenty of privacy to enjoy the hot tub. Easy access to GB Turnpike, I-30, and 360 with shopping, dining, and entertainment is just minutes away. Don't wait!

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: Greenbriar Estates Grand Prairie

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240kPrice in $88k243k

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

Neighborhood: Greenbriar Estates Grand Prairie

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700Rent in $9451738

* 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
Dwight D. Eisenhower Elementary School Primary Regular 753 43 7
John Adams Middle School Middle Regular 653 50 3
Dubiski Career High School High Regular 1,486 86 8

Dwight D. Eisenhower Elementary School

  • Education Level: Primary
  • # of students: 753
  • # of teachers: 43
7
GreatSchools Rating

John Adams Middle School

  • Education Level: Middle
  • # of students: 653
  • # of teachers: 50
3
GreatSchools Rating

Dubiski Career High School

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

$256,500$313,500$285,000

PURCHASE PRICE

$1,566$1,914$1,740

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,740
EXPENSES Loan Payment -$1,052
Property Tax -$694
Property Insurance -$151
Property Management Fees -$99
CASH FLOW
-$255

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.

$285,000

PROJECTED PRICE

$1,740

PROJECTED RENT

0.61%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.74%
Appreciation Year (1-5) 10.2%
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-$8.0k-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k

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$81,275

INVESTMENT

$81,275

Down Payment
$71,250
Rehab Estimate
$5,750
Closing Costs
$4,275

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$1,052

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $71,250
Loan Amount $213,750
See What Happens When You Reinvest Cash Flow

0.67

YEARS SAVED

$962

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,740

    LIST RENT
  • $0.81

    LIST RENT PER SQFT
  • $1,881

    COMP ESTIMATED VALUE
  • $0.88

    COMP AVG. RENT PER SQFT
Comps Range
$1,650
1$1,6502$1,6503$1,7404$2,0005$2,050
$2,050
RENT COMPS ANALYSIS
  • 2206 Ed Smith Court Grand Prairie, TX 3
    • 3 beds 2 baths ∙ 2,137 Sqft ∙ Built 1980 3 beds 2 baths ∙ 2,137 Sqft ∙ Built 1980
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,740
    • $0.81
    •  
  • 1401 Paris Drive Grand Prairie, TX 1
    • 4 beds 2 baths ∙ 1,850 Sqft ∙ Built 1966 4 beds 2 baths ∙ 1,850 Sqft ∙ Built 1966
    property image
    LEASED 12/16/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.89
    •  
  • 1905 Libby Lane Grand Prairie, TX 2
    • 3 beds 2 baths ∙ 1,989 Sqft ∙ Built 1990 3 beds 2 baths ∙ 1,989 Sqft ∙ Built 1990
    property image
    LEASED 10/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.83
    •  
  • 1705 Roman Road Grand Prairie, TX 4
    • 3 beds 2 baths ∙ 2,146 Sqft ∙ Built 1968 3 beds 2 baths ∙ 2,146 Sqft ∙ Built 1968
    property image
    LEASED 11/09/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.93
    •  
  • 2414 Greenwood Drive Grand Prairie, TX 5
    • 3 beds 3 baths ∙ 2,356 Sqft ∙ Built 1972 3 beds 3 baths ∙ 2,356 Sqft ∙ Built 1972
    property image
    LEASED 09/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,050
    • $0.87
    •  
PROPERTY LISTING DETAILS
Shaune Corbett
Exp Realty Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14462283
Last Updated: 11/05/2020
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