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2813 Meade Drive Grand Prairie, TX 75052

3 Beds 2 Baths 2,243 sqft Built 1995

$279,900

List Price

$1,860

$1.7K - $2K

Rent Est.

PROPERTY INFO

February 06, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1995
  • Price/Sqft : $124.79
  • 2 Days on Market
  • MLS # : 14514324
  • Updated Date : 02/06/2021 at 01:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,243 sqft
  • Baths : 2 full
Listing Agent

Compass Re Texas, Llc.

Listing Agent's Description

Move-in-ready former model home in quiet neighborhood and fabulous Grand Prairie location. ArlingtonISD! Tall ceilings, wall of windows, & tiled entry welcome you in. Versatile split-bedroom floorplan with 2nd living that can double as private office, or 4th bedroom - perfect for growing family or working from home. Expansive kitchen features large island, stone tile backsplash, and is open to formal dining and breakfast room! Oversized master bedroom features beautiful bay windows with built-in seating area, & a large walk in closet. En-suite master bath has double vanities, separate shower, & a jetted tub. Recent updates include fresh paint, luxury plank flooring, and decorative lighting.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Sheffield Village

NeighborhoodNIR Market*CityMarket2010Year20002019110k120k130k140k150k160k170k180k190k200k210k220k230k240kPrice in $109k243k

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

Neighborhood: Sheffield Village

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700Rent in $9591734

* 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
Barnett Junior High School Middle Regular 893 69 6
Bowie High School High Regular 3,053 194 5
Barnett Junior High School Middle Unknown NA

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

Barnett Junior High School

  • Education Level: Middle
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$251,910$307,890$279,900

PURCHASE PRICE

$1,674$2,046$1,860

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,860
EXPENSES Loan Payment -$972
Property Tax -$614
Property Insurance -$157
Property Management Fees -$99
CASH FLOW
$18

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 14% of earned rent to cover both maintenance and periods of vacancy.

$279,900

PROJECTED PRICE

$1,860

PROJECTED RENT

0.66%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 11.8%
Maintenance Year (1-5) 8.00%
Vacancy 6.39%
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

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$79,924

INVESTMENT

$79,924

Down Payment
$69,975
Rehab Estimate
$5,750
Closing Costs
$4,199

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$972

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $69,975
Loan Amount $209,925
See What Happens When You Reinvest Cash Flow

4.58

YEARS SAVED

$13,076

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,860

    LIST RENT
  • $0.83

    LIST RENT PER SQFT
  • $1,946

    COMP ESTIMATED VALUE
  • $0.87

    COMP AVG. RENT PER SQFT
Comps Range
$1,849
1$1,8492$1,8603$1,8954$1,9905$1,995
$1,995
RENT COMPS ANALYSIS
  • 2813 Meade Drive Grand Prairie, TX 2
    • 3 beds 2 baths ∙ 2,243 Sqft ∙ Built 1995 3 beds 2 baths ∙ 2,243 Sqft ∙ Built 1995
    • Rent
    • Rent Per SQFT
    •  
    • $1,860
    • $0.83
    •  
  • 2666 Steppington Street Grand Prairie, TX 1
    • 4 beds 3 baths ∙ 2,094 Sqft ∙ Built 1984 4 beds 3 baths ∙ 2,094 Sqft ∙ Built 1984
    LEASED 06/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,849
    • $0.88
    •  
  • 2816 Kettering Court Grand Prairie, TX 3
    • 3 beds 3 baths ∙ 2,196 Sqft ∙ Built 2002 3 beds 3 baths ∙ 2,196 Sqft ∙ Built 2002
    LEASED 12/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.86
    •  
  • 4515 Brittany Lane Grand Prairie, TX 4
    • 4 beds 2 baths ∙ 2,191 Sqft ∙ Built 1996 4 beds 2 baths ∙ 2,191 Sqft ∙ Built 1996
    LEASED 09/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,990
    • $0.91
    •  
  • 4540 Queenswood Drive Grand Prairie, TX 5
    • 3 beds 3 baths ∙ 2,420 Sqft ∙ Built 1993 3 beds 3 baths ∙ 2,420 Sqft ∙ Built 1993
    LEASED 07/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.82
    •  
PROPERTY LISTING DETAILS
Crystal Gonzalez
Compass Re Texas, Llc.
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14514324
Last Updated: 02/06/2021
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