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2843 Red Oak Drive Grand Prairie, TX 75052

4 Beds 3 Baths 2,307 sqft Built 1987

$270,000

List Price

$1,940

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 14, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1987
  • Price/Sqft : $117.04
  • 1 Days on Market
  • MLS # : 14532611
  • Updated Date : 03/13/2021 at 14:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,307 sqft
  • Baths : 2 full , 1 half
Listing Agent

Alta Realty Company, Llc

Listing Agent's Description

Wonderfully maintained home ready for immediate move in! Downstairs has laminate hardwoods throughout. Oversized living areas and eat-in kitchen. Bedrooms are upstairs. Master suite is huge with walk in closets and ceiling fans. Master bathroom has separate shower and bathtub as well as walk in closets. Pool sized backyard with extended back patio. Home is sold as is, where is.

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: Garden Oaks Grapevine

NeighborhoodNIR Market*CityMarket2010Year20002019110k120k130k140k150k160k170k180k190k200k210k220k230k240kPrice in $109k243k

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

Neighborhood: Garden Oaks Grapevine

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700Rent in $9591799

* 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
 

$243,000$297,000$270,000

PURCHASE PRICE

$1,746$2,134$1,940

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,940
EXPENSES Loan Payment -$938
Property Tax -$592
Property Insurance -$161
Property Management Fees -$99
CASH FLOW
$150

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.

$270,000

PROJECTED PRICE

$1,940

PROJECTED RENT

0.72%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 10.4%
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-$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$77,300

INVESTMENT

$77,300

Down Payment
$67,500
Rehab Estimate
$5,750
Closing Costs
$4,050

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$938

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $67,500
Loan Amount $202,500
See What Happens When You Reinvest Cash Flow

7.25

YEARS SAVED

$23,779

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,940

    LIST RENT
  • $0.84

    LIST RENT PER SQFT
  • $2,042

    COMP ESTIMATED VALUE
  • $0.89

    COMP AVG. RENT PER SQFT
Comps Range
$1,895
1$1,8952$1,9403$1,9904$2,0005$2,200
$2,200
RENT COMPS ANALYSIS
  • 2843 Red Oak Drive Grand Prairie, TX 2
    • 4 beds 3 baths ∙ 2,307 Sqft ∙ Built 1987 4 beds 3 baths ∙ 2,307 Sqft ∙ Built 1987
    • Rent
    • Rent Per SQFT
    •  
    • $1,940
    • $0.84
    •  
  • 2816 Kettering Court Grand Prairie, TX 1
    • 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
    •  
  • 4551 Whitehall Drive Grand Prairie, TX 3
    • 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
    •  
  • 2943 Prairie Oak Boulevard Grand Prairie, TX 4
    • 4 beds 3 baths ∙ 2,394 Sqft ∙ Built 2000 4 beds 3 baths ∙ 2,394 Sqft ∙ Built 2000
    LEASED 03/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.84
    •  
  • 2751 Sun Rise Lane Grand Prairie, TX 5
    • 4 beds 2 baths ∙ 2,378 Sqft ∙ Built 2006 4 beds 2 baths ∙ 2,378 Sqft ∙ Built 2006
    LEASED 04/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.93
    •  
PROPERTY LISTING DETAILS
Chad Joyce
Alta Realty Company, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14532611
Last Updated: 03/13/2021
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