Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

2607 Ne Atrium Drive Grand Prairie, TX 75052

4 Beds 3 Baths 2,750 sqft Built 2000

$359,900

List Price

$2,170

$2K - $2.4K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 25, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2000
  • Price/Sqft : $130.87
  • 4 Days on Market
  • MLS # : 14540321
  • Updated Date : 03/26/2021 at 07:45
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,750 sqft
  • Baths : 3 full
Listing Agent

Compass Re Texas, Llc

Listing Agent's Description

2021 Remodeled North-East facing 4 bedroom Gem in the heart of all the action in Grand Prairie! This spectacular floor plan boasts downstairs master, with remodeled master bath, and an additional bedroom or office downstairs with another full bath. The soaring ceilings upon entry will welcome you home to light and space! Kitchen has also been recently remodeled with granite counters and re-stained cabinets! Large open backyard has room for any hobby or activity! This one won't last long, come see it today!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • . 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)

PRICE & RENT TRENDS

Neighborhood: Forum Place

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240kPrice in $88k258k

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

Neighborhood: Forum Place

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100011001200130014001500160017001800Rent in $9451887

* 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
 

$323,910$395,890$359,900

PURCHASE PRICE

$1,953$2,387$2,170

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,170
EXPENSES Loan Payment -$1,250
Property Tax -$790
Property Insurance -$186
Property Management Fees -$99
CASH FLOW
-$155

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.

$359,900

PROJECTED PRICE

$2,170

PROJECTED RENT

0.60%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.74%
Appreciation Year (1-5) 10.7%
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$1.2M

PROJECTED ANNUAL CASH FLOW

11530-$6.0k-$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$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$101,124

INVESTMENT

$101,124

Down Payment
$89,975
Rehab Estimate
$5,750
Closing Costs
$5,399

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$1,250

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $89,975
Loan Amount $269,925
See What Happens When You Reinvest Cash Flow

2.17

YEARS SAVED

$5,329

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,170

    LIST RENT
  • $0.79

    LIST RENT PER SQFT
  • $2,131

    COMP ESTIMATED VALUE
  • $0.78

    COMP AVG. RENT PER SQFT
Comps Range
$1,900
1$1,9002$1,9503$2,0904$2,1005$2,170
$2,170
RENT COMPS ANALYSIS
  • 2607 Ne Atrium Drive Grand Prairie, TX 5
    • 4 beds 3 baths ∙ 2,750 Sqft ∙ Built 2000 4 beds 3 baths ∙ 2,750 Sqft ∙ Built 2000
    • Rent
    • Rent Per SQFT
    •  
    • $2,170
    • $0.79
    •  
  • 2467 Wayne Way Grand Prairie, TX 1
    • 4 beds 3 baths ∙ 2,523 Sqft ∙ Built 2002 4 beds 3 baths ∙ 2,523 Sqft ∙ Built 2002
    LEASED 04/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.75
    •  
  • 2720 Olympia Drive Grand Prairie, TX 2
    • 3 beds 2 baths ∙ 2,495 Sqft ∙ Built 1993 3 beds 2 baths ∙ 2,495 Sqft ∙ Built 1993
    LEASED 12/11/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.78
    •  
  • 2345 Kildeer Trail Grand Prairie, TX 3
    • 4 beds 2 baths ∙ 2,608 Sqft ∙ Built 1987 4 beds 2 baths ∙ 2,608 Sqft ∙ Built 1987
    LEASED 02/12/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,090
    • $0.80
    •  
  • 3507 Tamarack Drive Grand Prairie, TX 4
    • 4 beds 3 baths ∙ 2,735 Sqft ∙ Built 2000 4 beds 3 baths ∙ 2,735 Sqft ∙ Built 2000
    LEASED 01/06/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.77
    •  
PROPERTY LISTING DETAILS
Chad Carlson
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 #: 14540321
Last Updated: 03/26/2021
BESbswy