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2723 Costa Verde Drive Grand Prairie, TX 75054

5 Beds 4 Baths 3,826 sqft Built 2020

$572,608

List Price

$3,120

$2.9K - $3.4K

Rent Est.

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
January 09, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2020
  • Price/Sqft : $149.66
  • 2 Days on Market
  • MLS # : 14497196
  • Updated Date : 01/09/2021 at 20:00
CONSTRUCTION
  • Beds : 5
  • Floor Size : 3,826 sqft
  • Baths : 3 full , 1 half
Listing Agent

Homesusa.com

Listing Agent's Description

MLS# 14497196 - Built by First Texas Homes - March completion! ~ Beautiful Boston floor plan featuring E elevation and loaded with amenities. Butler's pantry and California kitchen with oversized California island. Curved staircase and large covered patio. Master bath features oversized shower and his and her vanities. Game room and media room upstairs make for great common areas.

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
 

$515,347$629,869$572,608

PURCHASE PRICE

$2,808$3,432$3,120

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,120
EXPENSES Loan Payment -$1,989
Property Tax -$1,338
Property Insurance -$248
HOA -$558
Property Management Fees -$99
CASH FLOW
-$1,112

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.

$572,608

PROJECTED PRICE

$3,120

PROJECTED RENT

0.54%

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$1.6M

PROJECTED ANNUAL CASH FLOW

11530-$20k-$15k-$10k-$5.0k$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$1.6M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$153,741

INVESTMENT

$153,741

Down Payment
$143,152
Rehab Estimate
$2,000
Closing Costs
$8,589

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,989

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $143,152
Loan Amount $429,456
See What Happens When You Reinvest Cash Flow

-0.25

YEARS SAVED

-$89

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,120

    LIST RENT
  • $0.82

    LIST RENT PER SQFT
  • $3,137

    COMP ESTIMATED VALUE
  • $0.82

    COMP AVG. RENT PER SQFT
Comps Range
$2,850
1$2,8502$2,9953$3,1204$3,2255$3,500
$3,500
RENT COMPS ANALYSIS
  • 2723 Costa Verde Drive Grand Prairie, TX 3
    • 5 beds 4 baths ∙ 3,826 Sqft ∙ Built 2020 5 beds 4 baths ∙ 3,826 Sqft ∙ Built 2020
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $3,120
    • $0.82
    •  
  • 2911 Velero Grand Prairie, TX 1
    • 6 beds 3 baths ∙ 3,501 Sqft ∙ Built 2005 6 beds 3 baths ∙ 3,501 Sqft ∙ Built 2005
    property image
    LEASED 04/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,850
    • $0.81
    •  
  • 2708 Fuente Grand Prairie, TX 2
    • 5 beds 5 baths ∙ 3,911 Sqft ∙ Built 2010 5 beds 5 baths ∙ 3,911 Sqft ∙ Built 2010
    property image
    LEASED 07/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,995
    • $0.77
    •  
  • 2947 Nadar Grand Prairie, TX 4
    • 4 beds 4 baths ∙ 3,850 Sqft ∙ Built 2006 4 beds 4 baths ∙ 3,850 Sqft ∙ Built 2006
    property image
    LEASED 08/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,225
    • $0.84
    •  
  • 7523 Lynnwood Drive Grand Prairie, TX 5
    • 5 beds 5 baths ∙ 4,065 Sqft ∙ Built 2018 5 beds 5 baths ∙ 4,065 Sqft ∙ Built 2018
    property image
    LEASED 07/31/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $0.86
    •  
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 #: 14497196
Last Updated: 01/09/2021
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