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2352 Collin Drive Grand Prairie, TX 75052

3 Beds 2 Baths 2,160 sqft Built 2010

$325,900

List Price

$1,940

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

November 14, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2010
  • Price/Sqft : $150.88
  • 2 Days on Market
  • MLS # : 14471556
  • Updated Date : 11/14/2020 at 19:13
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,160 sqft
  • Baths : 2 full
Listing Agent

Rendon Realty, Llc

Listing Agent's Description

Beautiful and well-kept home. Open floor plan. High ceiling with crown molding. Hardwood floor in living room, study room, dining room and master bedroom. Kitchen granite countertop. Big pantry. Breakfast room opens to covered patio and nice backyard. Split bedrooms. Swing garage. Sprinkler system. This house has a lot to offer. A must see. Well-sought-after location with community pool and jogging path. Close to shopping center, restaurants, and highway 360 and I-20. Minutes away from Joe Pool Lake.

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 Parks

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $109k336k

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

Neighborhood: Lake Parks

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100011001200130014001500160017001800190020002100Rent in $9592171

* 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
 

$293,310$358,490$325,900

PURCHASE PRICE

$1,746$2,134$1,940

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,940
EXPENSES Loan Payment -$1,202
Property Tax -$715
Property Insurance -$152
HOA -$19
Property Management Fees -$99
CASH FLOW
-$248

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.

$325,900

PROJECTED PRICE

$1,940

PROJECTED RENT

0.60%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 7.0%
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

PROJECTED ANNUAL CASH FLOW

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

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$92,114

INVESTMENT

$92,114

Down Payment
$81,475
Rehab Estimate
$5,750
Closing Costs
$4,889

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,202

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $81,475
Loan Amount $244,425
See What Happens When You Reinvest Cash Flow

1.33

YEARS SAVED

$2,526

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,940

    LIST RENT
  • $0.9

    LIST RENT PER SQFT
  • $2,090

    COMP ESTIMATED VALUE
  • $0.97

    COMP AVG. RENT PER SQFT
Comps Range
$1,940
1$1,9402$2,1003$2,1004$2,1955$2,200
$2,200
RENT COMPS ANALYSIS
  • 2352 Collin Drive Grand Prairie, TX 1
    • 3 beds 2 baths ∙ 2,160 Sqft ∙ Built 2010 3 beds 2 baths ∙ 2,160 Sqft ∙ Built 2010
    • Rent
    • Rent Per SQFT
    •  
    • $1,940
    • $0.90
    •  
  • 2356 San Augustine Lane Grand Prairie, TX 2
    • 3 beds 2 baths ∙ 2,148 Sqft ∙ Built 2011 3 beds 2 baths ∙ 2,148 Sqft ∙ Built 2011
    LEASED 09/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.98
    •  
  • 2435 Walker Street Grand Prairie, TX 3
    • 3 beds 2 baths ∙ 2,170 Sqft ∙ Built 2004 3 beds 2 baths ∙ 2,170 Sqft ∙ Built 2004
    LEASED 11/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.97
    •  
  • 2364 Collin Drive Grand Prairie, TX 4
    • 4 beds 2 baths ∙ 2,253 Sqft ∙ Built 2010 4 beds 2 baths ∙ 2,253 Sqft ∙ Built 2010
    LEASED 07/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,195
    • $0.97
    •  
  • 2323 Tawny Owl Road Grand Prairie, TX 5
    • 4 beds 2 baths ∙ 2,313 Sqft ∙ Built 2014 4 beds 2 baths ∙ 2,313 Sqft ∙ Built 2014
    LEASED 06/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.95
    •  
PROPERTY LISTING DETAILS
Thuy Le
Rendon Realty, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14471556
Last Updated: 11/14/2020
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