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

2883 Jerett Drive Grand Prairie, TX 75052

5 Beds 4 Baths 3,807 sqft Built 2004

$415,000

List Price

$2,710

$2.5K - $3K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 06, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2004
  • Price/Sqft : $109.01
  • 2 Days on Market
  • MLS # : 14524224
  • Updated Date : 03/06/2021 at 16:14
CONSTRUCTION
  • Beds : 5
  • Floor Size : 3,807 sqft
  • Baths : 3 full , 1 half
Listing Agent

United Real Estate

Listing Agent's Description

Great 5-BR plus study, one of the most popular floorplan of First Texas Homes, located near border of Grand Prairie and Arlington, easy access to HW 360 to DFW International Air port, close to groceries, restaurants... On first floor: great master BR, study, formal living room, formal dining, family room, upgraded kitchen, breakfast nook, utilities room and 1 half bath; on second floor: 4 good size BRs, game room, media room and 2 more full baths. An extra large concrete 50X25 plus will handle any activities your family want for entertainment. A must see.

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: Lake Parks West

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $109k336k

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

Neighborhood: Lake Parks West

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001200140016001800200022002400Rent in $9592480

* 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
 

$373,500$456,500$415,000

PURCHASE PRICE

$2,439$2,981$2,710

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,710
EXPENSES Loan Payment -$1,441
Property Tax -$911
Property Insurance -$247
HOA -$31
Property Management Fees -$99
CASH FLOW
-$19

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.

$415,000

PROJECTED PRICE

$2,710

PROJECTED RENT

0.65%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 4.7%
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$1.2M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$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$115,725

INVESTMENT

$115,725

Down Payment
$103,750
Rehab Estimate
$5,750
Closing Costs
$6,225

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,441

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $103,750
Loan Amount $311,250
See What Happens When You Reinvest Cash Flow

3.83

YEARS SAVED

$15,364

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,710

    LIST RENT
  • $0.71

    LIST RENT PER SQFT
  • $2,475

    COMP ESTIMATED VALUE
  • $0.65

    COMP AVG. RENT PER SQFT
Comps Range
$2,295
1$2,2952$2,3003$2,4954$2,5005$2,710
$2,710
RENT COMPS ANALYSIS
  • 2883 Jerett Drive Grand Prairie, TX 5
    • 5 beds 4 baths ∙ 3,807 Sqft ∙ Built 2004 5 beds 4 baths ∙ 3,807 Sqft ∙ Built 2004
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,710
    • $0.71
    •  
  • 3016 Cesareo Drive Grand Prairie, TX 1
    • 5 beds 3 baths ∙ 3,521 Sqft ∙ Built 2001 5 beds 3 baths ∙ 3,521 Sqft ∙ Built 2001
    property image
    LEASED 11/04/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,295
    • $0.65
    •  
  • 3104 Pompi Drive Grand Prairie, TX 2
    • 5 beds 3 baths ∙ 3,575 Sqft ∙ Built 2001 5 beds 3 baths ∙ 3,575 Sqft ∙ Built 2001
    property image
    LEASED 09/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.64
    •  
  • 5508 Lavaca Road Grand Prairie, TX 3
    • 4 beds 3 baths ∙ 3,789 Sqft ∙ Built 2004 4 beds 3 baths ∙ 3,789 Sqft ∙ Built 2004
    property image
    LEASED 06/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,495
    • $0.66
    •  
  • 5275 Woodfield Drive Grand Prairie, TX 4
    • 5 beds 4 baths ∙ 3,830 Sqft ∙ Built 2007 5 beds 4 baths ∙ 3,830 Sqft ∙ Built 2007
    property image
    LEASED 09/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.65
    •  
PROPERTY LISTING DETAILS
Minh Nguyen
United Real Estate
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14524224
Last Updated: 03/06/2021
BESbswy