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2412 Lakewood Drive Grand Prairie, TX 75054

4 Beds 3 Baths 2,541 sqft Built 2004

$380,000

List Price

$2,220

$2K - $2.4K

Rent Est.

PROPERTY INFO

November 04, 2020 RECENTLY ADDED
FACTS
  • Built In 2004
  • Price/Sqft : $149.55
  • 5 Days on Market
  • MLS # : 14359244
  • Updated Date : 11/04/2020 at 17:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,541 sqft
  • Baths : 2 full , 1 half
Listing Agent

Seeto Realty

Listing Agent's Description

Beautiful home with backyard trail leading to Joe Pool Lake! Granite countertop in the kitchen with open concept living area, perfect for entertaining. 4 bed rooms 2.5 baths with an office completed with French Doors. Backyard comes with a covered Patio and also a Hot Tub! Your dream home is ready for you! Bonus: 2 hot water heaters! 3D virtual is available upon request.

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: Lakeside at Grand Peninsula

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360k380kPrice in $109k394k

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

Neighborhood: Lakeside at Grand Peninsula

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001200140016001800200022002400260028003000Rent in $9593076

* 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
Anna May Daulton Elementary School Primary Regular 665 41 8
Danny Jones Middle School Middle Regular 843 51 9
Mansfield Lake Ridge High School High Unknown 2,085 113 NA

Anna May Daulton Elementary School

  • Education Level: Primary
  • # of students: 665
  • # of teachers: 41
8
GreatSchools Rating

Danny Jones Middle School

  • Education Level: Middle
  • # of students: 843
  • # of teachers: 51
9
GreatSchools Rating

Mansfield Lake Ridge High School

  • Education Level: High
  • # of students: 2,085
  • # of teachers: 113
NA
GreatSchools Rating
 

$342,000$418,000$380,000

PURCHASE PRICE

$1,998$2,442$2,220

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,220
EXPENSES Loan Payment -$1,402
Property Tax -$834
Property Insurance -$174
HOA -$42
Property Management Fees -$99
CASH FLOW
-$331

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.

$380,000

PROJECTED PRICE

$2,220

PROJECTED RENT

0.58%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 6.7%
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-$10k-$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$106,450

INVESTMENT

$106,450

Down Payment
$95,000
Rehab Estimate
$5,750
Closing Costs
$5,700

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,402

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $95,000
Loan Amount $285,000
See What Happens When You Reinvest Cash Flow

0.92

YEARS SAVED

$1,775

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,220

    LIST RENT
  • $0.87

    LIST RENT PER SQFT
  • $2,204

    COMP ESTIMATED VALUE
  • $0.87

    COMP AVG. RENT PER SQFT
Comps Range
$1,999
1$1,9992$2,2203$2,2954$2,3505$2,400
$2,400
RENT COMPS ANALYSIS
  • 2412 Lakewood Drive Grand Prairie, TX 2
    • 4 beds 3 baths ∙ 2,541 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,541 Sqft ∙ Built 2004
    • Rent
    • Rent Per SQFT
    •  
    • $2,220
    • $0.87
    •  
  • 6868 Shoreview Drive Grand Prairie, TX 1
    • 4 beds 2 baths ∙ 2,312 Sqft ∙ Built 2004 4 beds 2 baths ∙ 2,312 Sqft ∙ Built 2004
    LEASED 08/13/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,999
    • $0.86
    •  
  • 2828 Oak Glen Court Grand Prairie, TX 3
    • 4 beds 3 baths ∙ 2,800 Sqft ∙ Built 2014 4 beds 3 baths ∙ 2,800 Sqft ∙ Built 2014
    LEASED 07/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,295
    • $0.82
    •  
  • 7044 Bethlehem Drive Grand Prairie, TX 4
    • 3 beds 2 baths ∙ 2,612 Sqft ∙ Built 2006 3 beds 2 baths ∙ 2,612 Sqft ∙ Built 2006
    LEASED 03/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $0.90
    •  
  • 2565 Marina Drive Grand Prairie, TX 5
    • 4 beds 3 baths ∙ 2,703 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,703 Sqft ∙ Built 2004
    LEASED 06/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $0.89
    •  
PROPERTY LISTING DETAILS
Michael Vu
Seeto Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14359244
Last Updated: 11/04/2020
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