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2845 Fenwick Street Grand Prairie, TX 75052

4 Beds 3 Baths 2,484 sqft Built 1986

INVESTimate

$279,500

List Price

$1,910

$1,719 - $2,101

Rent Est.

$312,593  ( +11.84%)   1 YR EST. FORECAST

PROPERTY INFO

August 22, 2020 RECENTLY ADDED
FACTS
  • Built In 1986
  • Price/Sqft : $112.52
  • 5 Days on Market
  • MLS # : 14419118
  • Updated Date : 08/25/2020 at 19:33
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,484 sqft
  • Baths : 2 full , 1 half
Listing Agent

Better Homes & Gardens, Winans

Listing Agent's Description

Extraordinary Remodel Perfectly done! Beautiful spacious 4 Beds 2.5 Bath freshly painted home with large split bedrooms. Master bedroom has large sitting area with doors that can be your new office. Family room has gas fireplace. Large backyard with patio. Remodel included a new roof, new low e windows, new fence, new carpet, new laminate tile floors, completely remodeled kitchen and bathrooms with new granite counter tops, new light fixtures and new doors throughout. You will not be disappointed with this remodel! You got to see this one and make it yours!

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: 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
Starrett Elementary School Primary Regular 676 36 4
Barnett Junior High School Middle Regular 893 69 6
Bowie High School High Regular 3,053 194 5

Starrett Elementary School

  • Education Level: Primary
  • # of students: 676
  • # of teachers: 36
4
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
 

$251,550$307,450$279,500

PURCHASE PRICE

$1,719$2,101$1,910

RENT

DOWN PAYMENT
FINANCING

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,910
EXPENSES Loan Payment -$1,031
Property Tax -$613
Property Insurance -$171
Property Management Fees -$99
CASH FLOW
-$4

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.

$279,500

PROJECTED PRICE

$1,910

PROJECTED RENT

0.68%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 11.84%
Maintenance Year (1-5) 8.00%
Vacancy 6.39%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$79,818

INVESTMENT

$79,818

Down Payment
$69,875
Rehab Estimate
$5,750
Closing Costs
$4,193

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,031

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $69,875
Loan Amount $209,625
See What Happens When You Reinvest Cash Flow

4.42

YEARS SAVED

$14,311

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,910

    LIST RENT
  • $0.77

    LIST RENT PER SQFT
  • $2,018

    COMP ESTIMATED VALUE
  • $0.81

    COMP AVG. RENT PER SQFT
Comps Range
$1,910
1$1,9102$1,9503$1,9954$1,9955$1,995
$1,995
RENT COMPS ANALYSIS
  • 2845 Fenwick Street Grand Prairie, TX 1
    • 4 beds 3 baths ∙ 2,484 Sqft ∙ Built 1986 4 beds 3 baths ∙ 2,484 Sqft ∙ Built 1986
    • Rent
    • Rent Per SQFT
    •  
    • $1,910
    • $0.77
    •  
  • 4128 Hathaway Drive Grand Prairie, TX 2
    • 4 beds 3 baths ∙ 2,450 Sqft ∙ Built 1986 4 beds 3 baths ∙ 2,450 Sqft ∙ Built 1986
    LEASED 09/04/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.80
    •  
  • 2860 Ironwood Drive Grand Prairie, TX 3
    • 5 beds 3 baths ∙ 2,433 Sqft ∙ Built 1989 5 beds 3 baths ∙ 2,433 Sqft ∙ Built 1989
    LEASED 09/03/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.82
    •  
  • 4111 Kentshire Drive Grand Prairie, TX 4
    • 4 beds 3 baths ∙ 2,452 Sqft ∙ Built 1998 4 beds 3 baths ∙ 2,452 Sqft ∙ Built 1998
    LEASED 12/06/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.81
    •  
  • 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
Maria Cornwell
Better Homes & Gardens, Winans
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14419118
Last Updated: 08/25/2020
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