Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

2264 Palmer Trail Grand Prairie, TX 75052

6 Beds 4 Baths 4,164 sqft Built 2014

$499,000

List Price

$2,800

$2.6K - $3.1K

Rent Est.

PROPERTY INFO

December 23, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2014
  • Price/Sqft : $119.84
  • 5 Days on Market
  • MLS # : 14487840
  • Updated Date : 12/23/2020 at 20:00
CONSTRUCTION
  • Beds : 6
  • Floor Size : 4,164 sqft
  • Baths : 4 full
Listing Agent

Redfin Corporation

Listing Agent's Description

This like new First Texas Home is turnkey & comes fully loaded! Open concept with soaring ceilings, wood floors, and a spiral iron spindle staircase that gives the home touch of grandeur. Spacious living area with a floor to ceiling stone FP that adds loads of character & creates a cozy rustic gathering space! Chef's kitchen features a butler's pantry, SS appliances, gas burner cooktop, double ovens, plus tons of cabinet & granite counter space. Highlights include fresh paint, new carpet, downstairs primary retreat & an additional bedroom with French doors that can flex as an office! Upstairs features 4 beds, 2 baths, a media room, and game room! Easy access to shops, lake, dining & tons of amenities nearby!

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: High Hawk at Martin's Meadow

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $109k333k

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

Neighborhood: High Hawk at Martin's Meadow

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001200140016001800200022002400Rent in $9592495

* 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
West Elementary School Primary Regular 779 42 6
Barnett Junior High School Middle Regular 893 69 6
Bowie High School High Regular 3,053 194 5

West Elementary School

  • Education Level: Primary
  • # of students: 779
  • # of teachers: 42
6
GreatSchools Rating

Barnett Junior High School

  • Education Level: Middle
  • # of students: 893
  • # of teachers: 69
6
GreatSchools Rating

Bowie High School

  • Education Level: High
  • # of students: 3,053
  • # of teachers: 194
5
GreatSchools Rating
 

$449,100$548,900$499,000

PURCHASE PRICE

$2,520$3,080$2,800

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,800
EXPENSES Loan Payment -$1,841
Property Tax -$1,095
Property Insurance -$268
HOA -$13
Property Management Fees -$99
CASH FLOW
-$515

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 14% of earned rent to cover both maintenance and periods of vacancy.

$499,000

PROJECTED PRICE

$2,800

PROJECTED RENT

0.56%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 5.3%
Maintenance Year (1-5) 8.00%
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$1.2M$1.4M

PROJECTED ANNUAL CASH FLOW

11530-$10k-$5.0k$0.0$5.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$137,985

INVESTMENT

$137,985

Down Payment
$124,750
Rehab Estimate
$5,750
Closing Costs
$7,485

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,841

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $124,750
Loan Amount $374,250
See What Happens When You Reinvest Cash Flow

0.42

YEARS SAVED

$865

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,800

    LIST RENT
  • $0.67

    LIST RENT PER SQFT
  • $2,943

    COMP ESTIMATED VALUE
  • $0.71

    COMP AVG. RENT PER SQFT
Comps Range
$2,800
1$2,8002$3,0003$3,0004$3,100
$3,100
RENT COMPS ANALYSIS
  • 2264 Palmer Trail Grand Prairie, TX 1
    • 6 beds 4 baths ∙ 4,164 Sqft ∙ Built 2014 6 beds 4 baths ∙ 4,164 Sqft ∙ Built 2014
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $0.67
    •  
  • 5543 Clay Court Grand Prairie, TX 2
    • 5 beds 4 baths ∙ 4,494 Sqft ∙ Built 2006 5 beds 4 baths ∙ 4,494 Sqft ∙ Built 2006
    LEASED 05/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $0.67
    •  
  • 4703 Kestrel Street Grand Prairie, TX 3
    • 5 beds 4 baths ∙ 4,195 Sqft ∙ Built 2006 5 beds 4 baths ∙ 4,195 Sqft ∙ Built 2006
    LEASED 07/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $0.72
    •  
  • 2216 Colca Canyon Road Grand Prairie, TX 4
    • 5 beds 4 baths ∙ 4,245 Sqft ∙ Built 2005 5 beds 4 baths ∙ 4,245 Sqft ∙ Built 2005
    LEASED 09/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,100
    • $0.73
    •  
PROPERTY LISTING DETAILS
Robin Glaysher
Redfin Corporation
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14487840
Last Updated: 12/23/2020
BESbswy