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2471 Harbour Drive Grand Prairie, TX 75054

4 Beds 3 Baths 3,282 sqft Built 2008

$370,000

List Price

$2,610

$2.4K - $2.9K

Rent Est.

PROPERTY INFO

January 16, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2008
  • Price/Sqft : $112.74
  • 2 Days on Market
  • MLS # : 14495895
  • Updated Date : 01/16/2021 at 17:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,282 sqft
  • Baths : 3 full
Listing Agent

Compass Re Texas, Llc

Listing Agent's Description

Welcome to the Grand Peninsula! The structural integrity is stellar as you initially step into this spacious open floorplan with high ceilings throughout. Tasteful color combinations and upgrades. The warmth of beautiful wood floors, and a rustic stone fireplace set the tone in this home! Great floorplan with split master and 2 bedrooms down, gameroom and one bedroom up. Weekends cookoffs with impromptu's is a must in the backyard. Natural light visits the master bedroom on beautiful days for bookworm sessions! Mansfield ISD schools, and walking distance to highly rated Daulton, and within the popular Lake Ridge attendance zone. This home has so much to offer! Community Pool, playgrounds, gym, clubhouse

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: 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

$2,349$2,871$2,610

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,610
EXPENSES Loan Payment -$1,285
Property Tax -$812
Property Insurance -$217
HOA -$58
Property Management Fees -$99
CASH FLOW
$139

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

$2,610

PROJECTED RENT

0.71%

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$1.2M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k

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 50% 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

6

YEARS SAVED

$25,764

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,610

    LIST RENT
  • $0.8

    LIST RENT PER SQFT
  • $2,880

    COMP ESTIMATED VALUE
  • $0.88

    COMP AVG. RENT PER SQFT
Comps Range
$2,600
1$2,6002$2,6103$2,9954$3,0005$3,065
$3,065
RENT COMPS ANALYSIS
  • 2471 Harbour Drive Grand Prairie, TX 2
    • 4 beds 3 baths ∙ 3,282 Sqft ∙ Built 2008 4 beds 3 baths ∙ 3,282 Sqft ∙ Built 2008
    • Rent
    • Rent Per SQFT
    •  
    • $2,610
    • $0.80
    •  
  • 2557 Marina Drive Grand Prairie, TX 1
    • 3 beds 3 baths ∙ 3,144 Sqft ∙ Built 2004 3 beds 3 baths ∙ 3,144 Sqft ∙ Built 2004
    LEASED 08/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $0.83
    •  
  • 6960 Catamaran Drive Grand Prairie, TX 3
    • 5 beds 4 baths ∙ 3,472 Sqft ∙ Built 2005 5 beds 4 baths ∙ 3,472 Sqft ∙ Built 2005
    LEASED 05/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,995
    • $0.86
    •  
  • 6979 Sea Harbor Drive Grand Prairie, TX 4
    • 4 beds 4 baths ∙ 3,316 Sqft ∙ Built 2010 4 beds 4 baths ∙ 3,316 Sqft ∙ Built 2010
    LEASED 07/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $0.90
    •  
  • 2672 Bridgewater Drive Grand Prairie, TX 5
    • 4 beds 4 baths ∙ 3,320 Sqft ∙ Built 2006 4 beds 4 baths ∙ 3,320 Sqft ∙ Built 2006
    LEASED 01/02/21
    • Rent
    • Rent Per SQFT
    •  
    • $3,065
    • $0.92
    •  
PROPERTY LISTING DETAILS
Sandra Rubio
Compass Re Texas, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14495895
Last Updated: 01/16/2021
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