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2728 Castlecove Drive Grand Prairie, TX 75052

4 Beds 7 Baths 2,500 sqft Built 2000

$312,000

List Price

$2,120

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

October 27, 2020 RECENTLY ADDED
FACTS
  • Built In 2000
  • Price/Sqft : $124.80
  • 8 Days on Market
  • MLS # : 14460066
  • Updated Date : 10/27/2020 at 21:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,500 sqft
  • Baths : 2 full , 5 half
Listing Agent

United Real Estate

Listing Agent's Description

Come check out this great property that is located in a prime area near 360, I-20 and 161. The home is located just minutes from Joe Pool Lake and convenient to shopping, DFW airport and easy commute to either Dallas or Fort Worth. The home offers 4 bedrooms, 2 living areas, 2.5 bath and dining. The home backs up to a greenbelt which provides added privacy in the backyard. Recent extended concrete for patio. Roof is scheduled to be replaced prior to closing. No HOA.

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: Kingswood Forest

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $109k336k

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

Neighborhood: Kingswood Forest

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100011001200130014001500160017001800190020002100Rent in $9592171

* 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
West Elementary School Primary Regular 779 42 6
Barnett Junior High School Middle Regular 893 69 6
Bowie High School High Regular 3,053 194 5

West Elementary School

  • Education Level: Primary
  • # of students: 779
  • # of teachers: 42
6
GreatSchools Rating

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
 

$280,800$343,200$312,000

PURCHASE PRICE

$1,908$2,332$2,120

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,120
EXPENSES Loan Payment -$1,151
Property Tax -$685
Property Insurance -$172
Property Management Fees -$99
CASH FLOW
$14

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.

$312,000

PROJECTED PRICE

$2,120

PROJECTED RENT

0.68%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 8.9%
Maintenance Year (1-5) 8.00%
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

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$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$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$88,430

INVESTMENT

$88,430

Down Payment
$78,000
Rehab Estimate
$5,750
Closing Costs
$4,680

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,151

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $78,000
Loan Amount $234,000
See What Happens When You Reinvest Cash Flow

4.58

YEARS SAVED

$17,613

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,120

    LIST RENT
  • $0.85

    LIST RENT PER SQFT
  • $2,275

    COMP ESTIMATED VALUE
  • $0.91

    COMP AVG. RENT PER SQFT
Comps Range
$1,850
1$1,8502$2,1203$2,2004$2,500
$2,500
RENT COMPS ANALYSIS
  • 2728 Castlecove Drive Grand Prairie, TX 2
    • 4 beds 7 baths ∙ 2,500 Sqft ∙ Built 2000 4 beds 7 baths ∙ 2,500 Sqft ∙ Built 2000
    • Rent
    • Rent Per SQFT
    •  
    • $2,120
    • $0.85
    •  
  • 4320 Hemingway Drive Grand Prairie, TX 1
    • 4 beds 3 baths ∙ 2,188 Sqft ∙ Built 1985 4 beds 3 baths ∙ 2,188 Sqft ∙ Built 1985
    LEASED 10/11/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.85
    •  
  • 5024 Italia Lane Grand Prairie, TX 3
    • 4 beds 3 baths ∙ 2,252 Sqft ∙ Built 2016 4 beds 3 baths ∙ 2,252 Sqft ∙ Built 2016
    LEASED 07/19/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.98
    •  
  • 4676 Sarum Court Grand Prairie, TX 4
    • 5 beds 3 baths ∙ 2,763 Sqft ∙ Built 2002 5 beds 3 baths ∙ 2,763 Sqft ∙ Built 2002
    LEASED 07/10/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.90
    •  
PROPERTY LISTING DETAILS
Veronica Vela
United Real Estate
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14460066
Last Updated: 10/27/2020
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