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2451 Blanco Drive Grand Prairie, TX 75052

4 Beds 4 Baths 3,252 sqft Built 2007

$365,000

List Price

$2,180

$2K - $2.4K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 25, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2007
  • Price/Sqft : $112.24
  • 4 Days on Market
  • MLS # : 14522255
  • Updated Date : 02/25/2021 at 22:12
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,252 sqft
  • Baths : 4 full
Listing Agent

Regent Realty, Llc

Listing Agent's Description

Stunning 4 BR, 4 Bath home in Lake Parks and Mansfield ISD! Features a chef's dream kitchen with oversized island and 6 burner gas range. Downstairs also is the Master suite and second bedroom with full bath next to the room. Upstairs includes second living area - ideal for game room, media room, 2 bedrooms - 1 with en-suite bath. Outside is designed to entertain with extended covered patio. HOA includes park, pool and pond.

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
Louise Cabaniss Elementary School Primary Regular 588 38 9
James Coble Middle School Middle Regular 884 55 7
Mansfield Timberview High School High Regular 1,657 94 5

Louise Cabaniss Elementary School

  • Education Level: Primary
  • # of students: 588
  • # of teachers: 38
9
GreatSchools Rating

James Coble Middle School

  • Education Level: Middle
  • # of students: 884
  • # of teachers: 55
7
GreatSchools Rating

Mansfield Timberview High School

  • Education Level: High
  • # of students: 1,657
  • # of teachers: 94
5
GreatSchools Rating
 

$328,500$401,500$365,000

PURCHASE PRICE

$1,962$2,398$2,180

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,180
EXPENSES Loan Payment -$1,268
Property Tax -$801
Property Insurance -$215
HOA -$19
Property Management Fees -$99
CASH FLOW
-$222

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.

$365,000

PROJECTED PRICE

$2,180

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$102,475

INVESTMENT

$102,475

Down Payment
$91,250
Rehab Estimate
$5,750
Closing Costs
$5,475

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,268

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $91,250
Loan Amount $273,750
See What Happens When You Reinvest Cash Flow

1.42

YEARS SAVED

$3,021

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,180

    LIST RENT
  • $0.67

    LIST RENT PER SQFT
  • $2,211

    COMP ESTIMATED VALUE
  • $0.68

    COMP AVG. RENT PER SQFT
Comps Range
$1,875
1$1,8752$2,1803$2,2004$2,2255$2,550
$2,550
RENT COMPS ANALYSIS
  • 2451 Blanco Drive Grand Prairie, TX 2
    • 4 beds 4 baths ∙ 3,252 Sqft ∙ Built 2007 4 beds 4 baths ∙ 3,252 Sqft ∙ Built 2007
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,180
    • $0.67
    •  
  • 5423 Maverick Drive Grand Prairie, TX 1
    • 4 beds 3 baths ∙ 3,002 Sqft ∙ Built 2004 4 beds 3 baths ∙ 3,002 Sqft ∙ Built 2004
    property image
    LEASED 10/10/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,875
    • $0.62
    •  
  • 5343 Maverick Drive Grand Prairie, TX 3
    • 5 beds 4 baths ∙ 3,334 Sqft ∙ Built 2004 5 beds 4 baths ∙ 3,334 Sqft ∙ Built 2004
    property image
    LEASED 12/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.66
    •  
  • 2315 Merlin Drive Grand Prairie, TX 4
    • 3 beds 3 baths ∙ 3,065 Sqft ∙ Built 2005 3 beds 3 baths ∙ 3,065 Sqft ∙ Built 2005
    property image
    LEASED 06/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,225
    • $0.73
    •  
  • 2639 Excalibur Drive Grand Prairie, TX 5
    • 4 beds 4 baths ∙ 3,595 Sqft ∙ Built 2012 4 beds 4 baths ∙ 3,595 Sqft ∙ Built 2012
    property image
    LEASED 08/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,550
    • $0.71
    •  
PROPERTY LISTING DETAILS
Melissa Fain
Regent Realty, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14522255
Last Updated: 02/25/2021
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