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2440 Harbour Drive Grand Prairie, TX 75054

4 Beds 3 Baths 2,332 sqft Built 2002

$370,000

List Price

$2,150

$1.9K - $2.4K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 05, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2002
  • Price/Sqft : $158.66
  • 3 Days on Market
  • MLS # : 14524569
  • Updated Date : 03/04/2021 at 23:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,332 sqft
  • Baths : 2 full , 1 half
Listing Agent

Fathom Realty Llc

Listing Agent's Description

This Immaculate Beautiful home is located in the Grand Peninsula and loaded with many upgrades.Please see full List of Upgrades in the Transaction Desk with additional docs. As you enter this Beauty,it offers an open concept with soaring ceilings. Features lots of decorative lighting,Spacious Master Bedroom down stairs with garden tub, dual sinks, 3 bedrooms upstairs. Spacious kitchen features granite counter tops with an island,coffee bar and tons of cabinet space. With a Hot tub that is only 2 months and with Warrant, Security Cameras and much more. Terrific location, Mansfield ISD, Community Pool and playground.One Owner and the care shows!Buyers and Agents to verify room sizes, schools and all information

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: Landing at Grand Peninsula

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $109k336k

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

Neighborhood: Landing at Grand Peninsula

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100011001200130014001500160017001800190020002100220023002400Rent in $9592419

* 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
 

$333,000$407,000$370,000

PURCHASE PRICE

$1,935$2,365$2,150

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,150
EXPENSES Loan Payment -$1,285
Property Tax -$812
Property Insurance -$162
HOA -$117
Property Management Fees -$99
CASH FLOW
-$325

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.

$370,000

PROJECTED PRICE

$2,150

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

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$103,800

INVESTMENT

$103,800

Down Payment
$92,500
Rehab Estimate
$5,750
Closing Costs
$5,550

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 75% down payment or higher enables the proceeds from the asset to cover all costs.

$1,285

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $92,500
Loan Amount $277,500
See What Happens When You Reinvest Cash Flow

0.58

YEARS SAVED

$852

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,150

    LIST RENT
  • $0.92

    LIST RENT PER SQFT
  • $2,227

    COMP ESTIMATED VALUE
  • $0.96

    COMP AVG. RENT PER SQFT
Comps Range
$2,100
1$2,1002$2,1503$2,1984$2,3505$2,600
$2,600
RENT COMPS ANALYSIS
  • 2440 Harbour Drive Grand Prairie, TX 2
    • 4 beds 3 baths ∙ 2,332 Sqft ∙ Built 2002 4 beds 3 baths ∙ 2,332 Sqft ∙ Built 2002
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $0.92
    •  
  • 2476 Harbour Drive Grand Prairie, TX 1
    • 3 beds 2 baths ∙ 2,147 Sqft ∙ Built 2008 3 beds 2 baths ∙ 2,147 Sqft ∙ Built 2008
    property image
    LEASED 08/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.98
    •  
  • 6873 Shoreview Drive Grand Prairie, TX 3
    • 4 beds 2 baths ∙ 2,277 Sqft ∙ Built 2004 4 beds 2 baths ∙ 2,277 Sqft ∙ Built 2004
    property image
    LEASED 12/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,198
    • $0.97
    •  
  • 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
    property image
    LEASED 03/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $0.90
    •  
  • 2569 Pinnacle Point Drive Grand Prairie, TX 5
    • 4 beds 3 baths ∙ 2,672 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,672 Sqft ∙ Built 2003
    property image
    LEASED 01/10/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $0.97
    •  
PROPERTY LISTING DETAILS
Beatrice Cantu
Fathom Realty Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14524569
Last Updated: 03/04/2021
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