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2872 Red Oak Drive Grand Prairie, TX 75052

4 Beds 2 Baths 1,806 sqft Built 1987

$240,000

List Price

$1,810

$1.6K - $2K

Rent Est.

PROPERTY INFO

January 15, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1987
  • Price/Sqft : $132.89
  • 3 Days on Market
  • MLS # : 14500321
  • Updated Date : 01/16/2021 at 11:23
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,806 sqft
  • Baths : 2 full
Listing Agent

Jp And Associates Realtors

Listing Agent's Description

MULTIPLE OFFERS RECEIVED. Highest and Best by Sunday 1-17 12pm. Look no further! Beautifully maintained 4-2-2 one story in quiet established neighborhood. A bright open home offering space for everyone. Two dining areas allow extended flexibility. Spacious back yard offers expanded outdoor living with covered patio, storage building and room for gardens. Located in a nice neighborhood close to major highways and lots restaurants and shopping. Roof replaced summer 2016. Fresh paint throughout

SEE MORE

MARKET HIGHLIGHTS

  • # 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)
  • . Dallas has 7th largest concentration of high-tech jobs in the U.S. (Dallas Chamber)

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
West Elementary School Primary Regular 779 42 6
Barnett Junior High School Middle Regular 893 69 6
Bowie High School High Regular 3,053 194 5

West Elementary School

  • Education Level: Primary
  • # of students: 779
  • # of teachers: 42
6
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
 

$216,000$264,000$240,000

PURCHASE PRICE

$1,629$1,991$1,810

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,810
EXPENSES Loan Payment -$834
Property Tax -$527
Property Insurance -$132
Property Management Fees -$99
CASH FLOW
$219

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.

$240,000

PROJECTED PRICE

$1,810

PROJECTED RENT

0.75%

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$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$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$69,350

INVESTMENT

$69,350

Down Payment
$60,000
Rehab Estimate
$5,750
Closing Costs
$3,600

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$834

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $60,000
Loan Amount $180,000
See What Happens When You Reinvest Cash Flow

9.08

YEARS SAVED

$29,351

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,810

    LIST RENT
  • $1

    LIST RENT PER SQFT
  • $1,747

    COMP ESTIMATED VALUE
  • $0.97

    COMP AVG. RENT PER SQFT
Comps Range
$1,550
1$1,5502$1,6003$1,7004$1,7505$1,810
$1,810
RENT COMPS ANALYSIS
  • 2872 Red Oak Drive Grand Prairie, TX 5
    • 4 beds 2 baths ∙ 1,806 Sqft ∙ Built 1987 4 beds 2 baths ∙ 1,806 Sqft ∙ Built 1987
    • Rent
    • Rent Per SQFT
    •  
    • $1,810
    • $1.00
    •  
  • 5504 Marquette Street Arlington, TX 1
    • 3 beds 2 baths ∙ 1,626 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,626 Sqft ∙ Built 1983
    LEASED 04/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.95
    •  
  • 2401 Edinburgh Street Arlington, TX 2
    • 3 beds 2 baths ∙ 1,687 Sqft ∙ Built 1984 3 beds 2 baths ∙ 1,687 Sqft ∙ Built 1984
    LEASED 03/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.95
    •  
  • 4953 Briar Oaks Lane Grand Prairie, TX 3
    • 3 beds 2 baths ∙ 1,765 Sqft ∙ Built 1986 3 beds 2 baths ∙ 1,765 Sqft ∙ Built 1986
    LEASED 04/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.96
    •  
  • 2853 Rochester Court Grand Prairie, TX 4
    • 3 beds 2 baths ∙ 1,740 Sqft ∙ Built 2000 3 beds 2 baths ∙ 1,740 Sqft ∙ Built 2000
    LEASED 04/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $1.01
    •  
PROPERTY LISTING DETAILS
Joshua Gomez
Jp And Associates Realtors
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14500321
Last Updated: 01/16/2021
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