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2665 Venice Drive #3 Grand Prairie, TX 75054

3 Beds 3 Baths 2,233 sqft Built 2017

$304,900

List Price

$2,060

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

January 08, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2017
  • Price/Sqft : $136.54
  • 3 Days on Market
  • MLS # : 14484193
  • Updated Date : 01/08/2021 at 17:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,233 sqft
  • Baths : 2 full , 1 half
Listing Agent

Ebby Halliday, Realtors

Listing Agent's Description

Luxury townhome features fabulous premium lot with amazing pond and lake view. Stunning, peaceful, low maintenance living in gated community. The first floor has a living area with a half bath. The second floor features a wonderful kitchen with granite, gas cooktop, large island, stainless appliances and is open to living and dining area. Escape to the fabulous Master Suite with Spa-like bathroom with large walk-in closet. Additional bedroom on the 3rd floor with balcony overlooking pond with lake views. The Ultimate low-maintenance lifestyle includes all yard work. This home offers a small yard that is maintained by the HOA. Wonderful amenities, centrally located, easy access to Dallas and Fort Worth.

SEE MORE

MARKET HIGHLIGHTS

  • # 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)
  • . Dallas has 7th largest concentration of high-tech jobs in the U.S. (Dallas Chamber)

PRICE & RENT TRENDS

Neighborhood: Lakeshore Village

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300k320kPrice in $88k325k

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

Neighborhood: Lakeshore Village

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700180019002000210022002300Rent in $9592334

* 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
Lake Ridge Elementary School Primary Regular 397 23 5
Permenter Middle School Middle Regular 632 39 4
Permenter Middle School High Regular 632 39 4

Lake Ridge Elementary School

  • Education Level: Primary
  • # of students: 397
  • # of teachers: 23
5
GreatSchools Rating

Permenter Middle School

  • Education Level: Middle
  • # of students: 632
  • # of teachers: 39
4
GreatSchools Rating

Permenter Middle School

  • Education Level: High
  • # of students: 632
  • # of teachers: 39
4
GreatSchools Rating
 

$274,410$335,390$304,900

PURCHASE PRICE

$1,854$2,266$2,060

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,060
EXPENSES Loan Payment -$1,059
Property Tax -$780
Property Insurance -$156
HOA -$167
Property Management Fees -$99
CASH FLOW
-$201

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 14% of earned rent to cover both maintenance and periods of vacancy.

$304,900

PROJECTED PRICE

$2,060

PROJECTED RENT

0.68%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 6.7%
Maintenance Year (1-5) 8.00%
Vacancy 6.39%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k

PROJECTED ANNUAL CASH FLOW

11530-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$86,549

INVESTMENT

$86,549

Down Payment
$76,225
Rehab Estimate
$5,750
Closing Costs
$4,574

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,059

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $76,225
Loan Amount $228,675
See What Happens When You Reinvest Cash Flow

1.08

YEARS SAVED

$1,520

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,060

    LIST RENT
  • $0.92

    LIST RENT PER SQFT
  • $2,093

    COMP ESTIMATED VALUE
  • $0.94

    COMP AVG. RENT PER SQFT
Comps Range
$1,895
1$1,8952$2,0603$2,0954$2,2005$2,200
$2,200
RENT COMPS ANALYSIS
  • 2665 Venice Drive Grand Prairie, TX 2
    • 3 beds 3 baths ∙ 2,233 Sqft ∙ Built 2017 3 beds 3 baths ∙ 2,233 Sqft ∙ Built 2017
    • Rent
    • Rent Per SQFT
    •  
    • $2,060
    • $0.92
    •  
  • 3223 Yeltes Grand Prairie, TX 1
    • 3 beds 2 baths ∙ 2,040 Sqft ∙ Built 2005 3 beds 2 baths ∙ 2,040 Sqft ∙ Built 2005
    LEASED 05/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.93
    •  
  • 3164 Guadaloupe Grand Prairie, TX 3
    • 4 beds 2 baths ∙ 2,144 Sqft ∙ Built 2006 4 beds 2 baths ∙ 2,144 Sqft ∙ Built 2006
    LEASED 12/30/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,095
    • $0.98
    •  
  • 3031 Rosina Grand Prairie, TX 4
    • 4 beds 2 baths ∙ 2,299 Sqft ∙ Built 2007 4 beds 2 baths ∙ 2,299 Sqft ∙ Built 2007
    LEASED 12/31/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.96
    •  
  • 7232 Roble Grand Prairie, TX 5
    • 4 beds 3 baths ∙ 2,494 Sqft ∙ Built 2015 4 beds 3 baths ∙ 2,494 Sqft ∙ Built 2015
    LEASED 05/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.88
    •  
PROPERTY LISTING DETAILS
Kathy Lakatta
Ebby Halliday, Realtors
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14484193
Last Updated: 01/08/2021
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