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2677 Steppington Street Grand Prairie, TX 75052

4 Beds 2 Baths 2,000 sqft Built 1984

$250,000

List Price

$1,820

$1.6K - $2K

Rent Est.

PROPERTY INFO

February 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1984
  • Price/Sqft : $125.00
  • 2 Days on Market
  • MLS # : 14518427
  • Updated Date : 02/13/2021 at 20:32
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,000 sqft
  • Baths : 2 full
Listing Agent

Century 21 Judge Fite Co.

Listing Agent's Description

Large family room with cozy wood burning fireplace that is open to nice size dining room and kitchen with handy island and bar space for extra seating! Kitchen has stainless steel appliances that were replaced a few years ago. Nice natural lighting with big windows in living, kitchen and dining area. Master bedroom has two closets and separate shower and garden tub overlooking a private, brick walled, garden courtyard! Secondary rooms are nice size and have great closet space! Hall bath has double sinks with separate tub and toilet area. Large utility room with built in cabinets. Roof, HVAC & Water Heater were replaced a few years ago. Close to schools, shopping & restaurants. Close to Joe Pool Lake too!

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: 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
 

$225,000$275,000$250,000

PURCHASE PRICE

$1,638$2,002$1,820

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,820
EXPENSES Loan Payment -$868
Property Tax -$549
Property Insurance -$143
Property Management Fees -$99
CASH FLOW
$161

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.

$250,000

PROJECTED PRICE

$1,820

PROJECTED RENT

0.73%

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$12k

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$72,000

INVESTMENT

$72,000

Down Payment
$62,500
Rehab Estimate
$5,750
Closing Costs
$3,750

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$868

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $62,500
Loan Amount $187,500
See What Happens When You Reinvest Cash Flow

7.42

YEARS SAVED

$23,199

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,820

    LIST RENT
  • $0.91

    LIST RENT PER SQFT
  • $1,785

    COMP ESTIMATED VALUE
  • $0.89

    COMP AVG. RENT PER SQFT
Comps Range
$1,650
1$1,6502$1,6953$1,7504$1,8205$1,849
$1,849
RENT COMPS ANALYSIS
  • 2677 Steppington Street Grand Prairie, TX 4
    • 4 beds 2 baths ∙ 2,000 Sqft ∙ Built 1984 4 beds 2 baths ∙ 2,000 Sqft ∙ Built 1984
    • Rent
    • Rent Per SQFT
    •  
    • $1,820
    • $0.91
    •  
  • 2653 Berkshire Lane Grand Prairie, TX 1
    • 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
    •  
  • 4414 Emerson Drive Grand Prairie, TX 2
    • 3 beds 3 baths ∙ 1,861 Sqft ∙ Built 1984 3 beds 3 baths ∙ 1,861 Sqft ∙ Built 1984
    LEASED 02/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.91
    •  
  • 4369 Hemingway Drive Grand Prairie, TX 3
    • 3 beds 2 baths ∙ 1,989 Sqft ∙ Built 1985 3 beds 2 baths ∙ 1,989 Sqft ∙ Built 1985
    LEASED 10/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.88
    •  
  • 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
Shari Wells
Century 21 Judge Fite Co.
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14518427
Last Updated: 02/13/2021
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