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2743 Columbus Grand Prairie, TX 75054

5 Beds 3 Baths 2,565 sqft Built 2010

$329,900

List Price

$2,310

$2.1K - $2.5K

Rent Est.

PROPERTY INFO

December 05, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2010
  • Price/Sqft : $128.62
  • 3 Days on Market
  • MLS # : 14481718
  • Updated Date : 12/04/2020 at 20:00
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,565 sqft
  • Baths : 3 full
Listing Agent

Coldwell Banker Apex, Realtors

Listing Agent's Description

AMAZING! BEAUTIFUL! STUNNING! Come see this well maintained, gorgeous home ready for a large family or work from home couple. 5 bedrooms, 3 full bathrooms, room to play and gather. Located in Mira Lagos and coveted Mansfield School District, and wonderfully priced! Granite counter tops, beautiful wood floors, stone fireplace, large master suite, and larger than usual kids' rooms. This home comes with solar panels, no lease, your monthly electric bill could be non-existent, another savings to consider! Close to DFW Metroplex and all the fantastic sports entertainment. This wonderful home will not last long!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • # 1 in the country for job growth in 2017 (2.6% growth, 91,700 new jobs) (US Census, Forbes, 2017)

PRICE & RENT TRENDS

Neighborhood: Mira Lagos East

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $109k379k

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

Neighborhood: Mira Lagos East

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000120014001600180020002200240026002800Rent in $9592941

* 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
 

$296,910$362,890$329,900

PURCHASE PRICE

$2,079$2,541$2,310

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,310
EXPENSES Loan Payment -$1,217
Property Tax -$724
Property Insurance -$175
HOA -$48
Property Management Fees -$99
CASH FLOW
$46

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.

$329,900

PROJECTED PRICE

$2,310

PROJECTED RENT

0.70%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 5.2%
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$14k

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$93,174

INVESTMENT

$93,174

Down Payment
$82,475
Rehab Estimate
$5,750
Closing Costs
$4,949

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,217

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $82,475
Loan Amount $247,425
See What Happens When You Reinvest Cash Flow

5.17

YEARS SAVED

$20,783

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,310

    LIST RENT
  • $0.9

    LIST RENT PER SQFT
  • $2,244

    COMP ESTIMATED VALUE
  • $0.88

    COMP AVG. RENT PER SQFT
Comps Range
$1,999
1$1,9992$2,1953$2,2004$2,3105$2,400
$2,400
RENT COMPS ANALYSIS
  • 2743 Columbus Grand Prairie, TX 4
    • 5 beds 3 baths ∙ 2,565 Sqft ∙ Built 2010 5 beds 3 baths ∙ 2,565 Sqft ∙ Built 2010
    • Rent
    • Rent Per SQFT
    •  
    • $2,310
    • $0.90
    •  
  • 6868 Shoreview Drive Grand Prairie, TX 1
    • 4 beds 2 baths ∙ 2,312 Sqft ∙ Built 2004 4 beds 2 baths ∙ 2,312 Sqft ∙ Built 2004
    LEASED 08/13/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,999
    • $0.86
    •  
  • 3256 Guadaloupe Grand Prairie, TX 2
    • 4 beds 3 baths ∙ 2,518 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,518 Sqft ∙ Built 2005
    LEASED 04/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,195
    • $0.87
    •  
  • 7232 Roble Grand Prairie, TX 3
    • 4 beds 3 baths ∙ 2,494 Sqft ∙ Built 2015 4 beds 3 baths ∙ 2,494 Sqft ∙ Built 2015
    LEASED 05/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.88
    •  
  • 2565 Marina Drive Grand Prairie, TX 5
    • 4 beds 3 baths ∙ 2,703 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,703 Sqft ∙ Built 2004
    LEASED 06/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $0.89
    •  
PROPERTY LISTING DETAILS
Casey Madison
Coldwell Banker Apex, Realtors
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14481718
Last Updated: 12/04/2020
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