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2690 La Jolla Boulevard Grand Prairie, TX 75054

4 Beds 4 Baths 3,325 sqft Built 2020

$496,758

List Price

$2,960

$2.7K - $3.2K

Rent Est.

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
January 09, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2020
  • Price/Sqft : $149.40
  • 2 Days on Market
  • MLS # : 14497194
  • Updated Date : 01/09/2021 at 19:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,325 sqft
  • Baths : 3 full , 1 half
Listing Agent

Homesusa.com

Listing Agent's Description

MLS# 14497194 - Built by First Texas Homes - February completion! ~ Birchwood floor plan with 2 car garage and A elevation. Owner suite and media room located down with a full powder for an optional additional bedroom. Vaulted ceilings and a curved staircase complete the family room. Kitchen features a California island, butler's pantry, and breakfast nook. Savant Home Automation System included!

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

Zip Code: 75054

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340kPrice in $109k354k

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

Zip Code: 75054

ZipNIR Market*CityMarket2010Year20002019 Q2100012001400160018002000220024002600Rent in $9592659

* 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
 

$447,082$546,434$496,758

PURCHASE PRICE

$2,664$3,256$2,960

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,960
EXPENSES Loan Payment -$1,725
Property Tax -$1,161
Property Insurance -$219
HOA -$558
Property Management Fees -$99
CASH FLOW
-$803

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 10% of earned rent to cover both maintenance and periods of vacancy.

$496,758

PROJECTED PRICE

$2,960

PROJECTED RENT

0.60%

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) 3.00%
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$1.4M

PROJECTED ANNUAL CASH FLOW

11530-$16k-$14k-$12k-$10k-$8.0k-$6.0k-$4.0k-$2.0k$0.0

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$133,641

INVESTMENT

$133,641

Down Payment
$124,190
Rehab Estimate
$2,000
Closing Costs
$7,451

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 100% down payment or higher enables the proceeds from the asset to cover all costs.

$1,725

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $124,190
Loan Amount $372,569
See What Happens When You Reinvest Cash Flow

-0.17

YEARS SAVED

-$33

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,960

    LIST RENT
  • $0.89

    LIST RENT PER SQFT
  • $2,976

    COMP ESTIMATED VALUE
  • $0.9

    COMP AVG. RENT PER SQFT
Comps Range
$2,960
1$2,9602$2,9953$2,9954$3,0005$3,065
$3,065
RENT COMPS ANALYSIS
  • 2690 La Jolla Boulevard Grand Prairie, TX 1
    • 4 beds 4 baths ∙ 3,325 Sqft ∙ Built 2020 4 beds 4 baths ∙ 3,325 Sqft ∙ Built 2020
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,960
    • $0.89
    •  
  • 2715 Vela Grand Prairie, TX 2
    • 5 beds 3 baths ∙ 3,330 Sqft ∙ Built 2011 5 beds 3 baths ∙ 3,330 Sqft ∙ Built 2011
    property image
    LEASED 01/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,995
    • $0.90
    •  
  • 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
    property image
    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
    property image
    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
    property image
    LEASED 01/02/21
    • Rent
    • Rent Per SQFT
    •  
    • $3,065
    • $0.92
    •  
PROPERTY LISTING DETAILS
Ben Caballero
Homesusa.com
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14497194
Last Updated: 01/09/2021
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