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2438 Wayne Way Grand Prairie, TX 75052

3 Beds 2 Baths 2,172 sqft Built 2003

$290,000

List Price

$1,860

$1.7K - $2K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 09, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2003
  • Price/Sqft : $133.52
  • 6 Days on Market
  • MLS # : 14529518
  • Updated Date : 03/09/2021 at 14:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,172 sqft
  • Baths : 2 full
Listing Agent

Redestin Real Estate

Listing Agent's Description

WELCOME HOME to this cozy single story offers 3 bedrooms, 2 baths and 2 living room home in the beautiful Cimarron Estates subdivision. Upon entry you will be greeted with a formal dining and living. Neutral paint colors throughout, high ceiling. Spacious kitchen that is open to the family room. Kitchen has a convenient tech center. Home features spacious bedrooms with a master bedroom split floor plan. Near all the new and developing 161 highway shopping centers and entertainment. Prime location! Convenient access to 161 hwy, I20 and 360 hwy.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • . 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)

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
Barnett Junior High School Middle Regular 893 69 6
Bowie High School High Regular 3,053 194 5
Barnett Junior High School Middle Unknown NA

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

Barnett Junior High School

  • Education Level: Middle
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$261,000$319,000$290,000

PURCHASE PRICE

$1,674$2,046$1,860

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,860
EXPENSES Loan Payment -$1,007
Property Tax -$636
Property Insurance -$153
HOA -$14
Property Management Fees -$99
CASH FLOW
-$49

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.

$290,000

PROJECTED PRICE

$1,860

PROJECTED RENT

0.64%

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

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$82,600

INVESTMENT

$82,600

Down Payment
$72,500
Rehab Estimate
$5,750
Closing Costs
$4,350

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,007

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $72,500
Loan Amount $217,500
See What Happens When You Reinvest Cash Flow

3.33

YEARS SAVED

$8,279

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,860

    LIST RENT
  • $0.86

    LIST RENT PER SQFT
  • $1,906

    COMP ESTIMATED VALUE
  • $0.88

    COMP AVG. RENT PER SQFT
Comps Range
$1,845
1$1,8452$1,8603$1,9954$2,0505$2,100
$2,100
RENT COMPS ANALYSIS
  • 2438 Wayne Way Grand Prairie, TX 2
    • 3 beds 2 baths ∙ 2,172 Sqft ∙ Built 2003 3 beds 2 baths ∙ 2,172 Sqft ∙ Built 2003
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,860
    • $0.86
    •  
  • 3351 Red Mine Lane Grand Prairie, TX 1
    • 4 beds 2 baths ∙ 2,198 Sqft ∙ Built 2003 4 beds 2 baths ∙ 2,198 Sqft ∙ Built 2003
    property image
    LEASED 01/27/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,845
    • $0.84
    •  
  • 3355 Sedona Drive Grand Prairie, TX 3
    • 4 beds 2 baths ∙ 2,220 Sqft ∙ Built 2004 4 beds 2 baths ∙ 2,220 Sqft ∙ Built 2004
    property image
    LEASED 05/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.90
    •  
  • 3343 Bryce Grand Prairie, TX 4
    • 4 beds 2 baths ∙ 2,320 Sqft ∙ Built 2002 4 beds 2 baths ∙ 2,320 Sqft ∙ Built 2002
    property image
    LEASED 08/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,050
    • $0.88
    •  
  • 2423 Lost Mesa Grand Prairie, TX 5
    • 4 beds 2 baths ∙ 2,355 Sqft ∙ Built 2003 4 beds 2 baths ∙ 2,355 Sqft ∙ Built 2003
    property image
    LEASED 07/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.89
    •  
PROPERTY LISTING DETAILS
Yvonne Vo
Redestin Real Estate
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14529518
Last Updated: 03/09/2021
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