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2707 Costa Verde Drive Grand Prairie, TX 75054

5 Beds 4 Baths 4,539 sqft Built 2020

$657,574

List Price

$4,130

$3.9K - $4.4K

Rent Est.

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
January 09, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2020
  • Price/Sqft : $144.87
  • 2 Days on Market
  • MLS # : 14497198
  • Updated Date : 01/09/2021 at 20:00
CONSTRUCTION
  • Beds : 5
  • Floor Size : 4,539 sqft
  • Baths : 3 full , 1 half
Listing Agent

Homesusa.com

Listing Agent's Description

MLS# 14497198 - Built by First Texas Homes - February completion! ~ Stonebriar floor plan featuring H elevation with covered porch, double doors at entry and covered patio. Formal dining lead to butler's pantry area and into California kitchen with oversized island and stainless professional series appliances. Home features large owner suite with walk-through shower and an additional bedroom down. The curved staircase opens into a spacious game room, 3 secondary bedrooms, and a media room.

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
 

$591,817$723,331$657,574

PURCHASE PRICE

$3,717$4,543$4,130

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $4,130
EXPENSES Loan Payment -$2,284
Property Tax -$1,537
Property Insurance -$289
HOA -$558
Property Management Fees -$99
CASH FLOW
-$637

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.

$657,574

PROJECTED PRICE

$4,130

PROJECTED RENT

0.63%

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$500k$1.0M$1.5M$2.0M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$176,257

INVESTMENT

$176,257

Down Payment
$164,394
Rehab Estimate
$2,000
Closing Costs
$9,864

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,284

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $164,394
Loan Amount $493,181
See What Happens When You Reinvest Cash Flow

0.25

YEARS SAVED

$357

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $4,130

    LIST RENT
  • $0.91

    LIST RENT PER SQFT
  • $4,176

    COMP ESTIMATED VALUE
  • $0.92

    COMP AVG. RENT PER SQFT
Comps Range
$4,130
1$4,1302$4,2003$4,450
$4,450
RENT COMPS ANALYSIS
  • 2707 Costa Verde Drive Grand Prairie, TX 1
    • 5 beds 4 baths ∙ 4,539 Sqft ∙ Built 2020 5 beds 4 baths ∙ 4,539 Sqft ∙ Built 2020
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $4,130
    • $0.91
    •  
  • 2716 La Jolla Boulevard Grand Prairie, TX 2
    • 6 beds 4 baths ∙ 4,667 Sqft ∙ Built 2020 6 beds 4 baths ∙ 4,667 Sqft ∙ Built 2020
    property image
    LEASED 11/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,200
    • $0.90
    •  
  • 2627 Linda Vista Grand Prairie, TX 3
    • 5 beds 5 baths ∙ 4,752 Sqft ∙ Built 2017 5 beds 5 baths ∙ 4,752 Sqft ∙ Built 2017
    property image
    LEASED 02/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,450
    • $0.94
    •  
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 #: 14497198
Last Updated: 01/09/2021
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