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2453 Mckensie Lane Grand Prairie, TX 75052

3 Beds 2 Baths 1,944 sqft Built 1983

$258,000

List Price

$1,730

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 05, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1983
  • Price/Sqft : $132.72
  • 3 Days on Market
  • MLS # : 14525998
  • Updated Date : 03/05/2021 at 19:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,944 sqft
  • Baths : 2 full
Listing Agent

Orchard Brokerage

Listing Agent's Description

Click the Virtual Tour link to view the 3D Matterport walkthrough. Lovely two-story turnkey home in a quiet subdivision and with numerous features to meet the needs of today's buyers. Large grassy surroundings and expansive backyard covered entryway with a two-car garage. The interior features include gorgeous wood floors soaring ceilings with skylights, open floorplan with wet-bar next to the fireplace, and two dining areas. The kitchen has tile flooring, dual sinks, and a pantry. Master on the main level with an en-suite bath and a walk-in closet. New interior paint throughout, new carpet, new master bath tile floors, and re-tiled master bath shower.

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: Oak Hollow Grand Prairie

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240kPrice in $88k243k

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

Neighborhood: Oak Hollow Grand Prairie

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700Rent in $9451734

* 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
 

$232,200$283,800$258,000

PURCHASE PRICE

$1,557$1,903$1,730

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,730
EXPENSES Loan Payment -$896
Property Tax -$566
Property Insurance -$140
Property Management Fees -$99
CASH FLOW
$29

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.

$258,000

PROJECTED PRICE

$1,730

PROJECTED RENT

0.67%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.74%
Appreciation Year (1-5) 11.3%
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-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k

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$74,120

INVESTMENT

$74,120

Down Payment
$64,500
Rehab Estimate
$5,750
Closing Costs
$3,870

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$896

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $64,500
Loan Amount $193,500
See What Happens When You Reinvest Cash Flow

4.58

YEARS SAVED

$12,416

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,730

    LIST RENT
  • $0.89

    LIST RENT PER SQFT
  • $1,740

    COMP ESTIMATED VALUE
  • $0.9

    COMP AVG. RENT PER SQFT
Comps Range
$1,575
1$1,5752$1,6503$1,7304$1,7495$1,849
$1,849
RENT COMPS ANALYSIS
  • 2453 Mckensie Lane Grand Prairie, TX 3
    • 3 beds 2 baths ∙ 1,944 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,944 Sqft ∙ Built 1983
    • Rent
    • Rent Per SQFT
    •  
    • $1,730
    • $0.89
    •  
  • 2621 Carrington Lane Grand Prairie, TX 1
    • 3 beds 2 baths ∙ 1,866 Sqft ∙ Built 1987 3 beds 2 baths ∙ 1,866 Sqft ∙ Built 1987
    LEASED 04/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,575
    • $0.84
    •  
  • 2653 Berkshire Lane Grand Prairie, TX 2
    • 3 beds 2 baths ∙ 1,841 Sqft ∙ Built 1982 3 beds 2 baths ∙ 1,841 Sqft ∙ Built 1982
    LEASED 12/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.90
    •  
  • 2637 Bennington Court Grand Prairie, TX 4
    • 3 beds 2 baths ∙ 1,824 Sqft ∙ Built 1982 3 beds 2 baths ∙ 1,824 Sqft ∙ Built 1982
    LEASED 09/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,749
    • $0.96
    •  
  • 2666 Steppington Street Grand Prairie, TX 5
    • 4 beds 3 baths ∙ 2,094 Sqft ∙ Built 1984 4 beds 3 baths ∙ 2,094 Sqft ∙ Built 1984
    LEASED 06/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,849
    • $0.88
    •  
PROPERTY LISTING DETAILS
Alix Spruce
Orchard Brokerage
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14525998
Last Updated: 03/05/2021
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