Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

2787 Sun Rise Lane Grand Prairie, TX 75052

4 Beds 3 Baths 2,585 sqft Built 2007

$304,900

List Price

$2,150

$1.9K - $2.4K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 25, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2007
  • Price/Sqft : $117.95
  • 4 Days on Market
  • MLS # : 14520386
  • Updated Date : 02/27/2021 at 20:16
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,585 sqft
  • Baths : 2 full , 1 half
Listing Agent

Rendon Realty, Llc

Listing Agent's Description

**MULTIPLE OFFERS**Highest and Best by 02.28.2021 @5:00Pm** Welcome Home!! Not only does this home offer 2,585 SqFt with 4 bedrooms and 2.5 bathrooms but is located within the highly sought after Mansfield ISD district. This home also offers a Large covered patio with lights and fans where there is plenty of space for your family to make many memories. Roof was replaced in 2015 with a 30 year hail proof shingles and over-sized gutters, Newly installed glass front and rear storm doors, newer garage door installed, 30 year carpet with warranty, interior and exterior home painted in 2019, backyard shed, exterior lighting on front and sided of house, 8 foot cedar fence and so much more.

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: Somerton Village

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $109k336k

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

Neighborhood: Somerton Village

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
Louise Cabaniss Elementary School Primary Regular 588 38 9
James Coble Middle School Middle Regular 884 55 7
Mansfield Timberview High School High Regular 1,657 94 5

Louise Cabaniss Elementary School

  • Education Level: Primary
  • # of students: 588
  • # of teachers: 38
9
GreatSchools Rating

James Coble Middle School

  • Education Level: Middle
  • # of students: 884
  • # of teachers: 55
7
GreatSchools Rating

Mansfield Timberview High School

  • Education Level: High
  • # of students: 1,657
  • # of teachers: 94
5
GreatSchools Rating
 

$274,410$335,390$304,900

PURCHASE PRICE

$1,935$2,365$2,150

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,150
EXPENSES Loan Payment -$1,059
Property Tax -$669
Property Insurance -$177
HOA -$35
Property Management Fees -$99
CASH FLOW
$111

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.

$304,900

PROJECTED PRICE

$2,150

PROJECTED RENT

0.71%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 7.5%
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-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$86,549

INVESTMENT

$86,549

Down Payment
$76,225
Rehab Estimate
$5,750
Closing Costs
$4,574

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,059

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $76,225
Loan Amount $228,675
See What Happens When You Reinvest Cash Flow

6

YEARS SAVED

$21,086

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,150

    LIST RENT
  • $0.83

    LIST RENT PER SQFT
  • $2,146

    COMP ESTIMATED VALUE
  • $0.83

    COMP AVG. RENT PER SQFT
Comps Range
$1,950
1$1,9502$1,9993$2,0004$2,1505$2,250
$2,250
RENT COMPS ANALYSIS
  • 2787 Sun Rise Lane Grand Prairie, TX 4
    • 4 beds 3 baths ∙ 2,585 Sqft ∙ Built 2007 4 beds 3 baths ∙ 2,585 Sqft ∙ Built 2007
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $0.83
    •  
  • 5879 Vista Heights Lane Grand Prairie, TX 1
    • 4 beds 2 baths ∙ 2,499 Sqft ∙ Built 2004 4 beds 2 baths ∙ 2,499 Sqft ∙ Built 2004
    property image
    LEASED 09/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.78
    •  
  • 2875 Westover Drive Grand Prairie, TX 2
    • 3 beds 3 baths ∙ 2,424 Sqft ∙ Built 2005 3 beds 3 baths ∙ 2,424 Sqft ∙ Built 2005
    property image
    LEASED 02/02/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,999
    • $0.82
    •  
  • 2943 Prairie Oak Boulevard Grand Prairie, TX 3
    • 4 beds 3 baths ∙ 2,394 Sqft ∙ Built 2000 4 beds 3 baths ∙ 2,394 Sqft ∙ Built 2000
    property image
    LEASED 03/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.84
    •  
  • 5860 Silver Sage Lane Grand Prairie, TX 5
    • 4 beds 3 baths ∙ 2,550 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,550 Sqft ∙ Built 2003
    property image
    LEASED 12/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $0.88
    •  
PROPERTY LISTING DETAILS
Jeremy Johnson
Rendon Realty, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14520386
Last Updated: 02/27/2021
BESbswy