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2916 Bandera Grand Prairie, TX 75054

4 Beds 3 Baths 3,213 sqft Built 2007

$425,000

List Price

$2,600

$2.4K - $2.9K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 11, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2007
  • Price/Sqft : $132.28
  • 4 Days on Market
  • MLS # : 14528968
  • Updated Date : 03/11/2021 at 13:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,213 sqft
  • Baths : 2 full , 1 half
Listing Agent

Keller Williams Arlington

Listing Agent's Description

Spacious home in highly sought Mansfield ISD & Mira Lagos neighborhood offers natural light, vaulted ceilings throughout. 3 car garage, well landscaped front yard & stone elevation catch your eye from the curb. Home features formal dining & office, upstairs has game room & theater room. Open living space with luxury vinyl plank & ceramic tile offers dining area right off kitchen which has granite, gas range, & stainless appliances. Half bath for guests downstairs. Spacious backyard features outdoor kitchen under covered patio. Near one of the community's 3 pools. Easy access to Hwy 360 making an easy commute to most of DFW. Listing Agent related to seller. Ask about saving thousands with special financing.

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: Mira Lagos

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $109k377k

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

Neighborhood: Mira Lagos

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001200140016001800200022002400Rent in $9592519

* 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
Anna May Daulton Elementary School Primary Regular 665 41 8
Danny Jones Middle School Middle Regular 843 51 9
Mansfield Lake Ridge High School High Unknown 2,085 113 NA

Anna May Daulton Elementary School

  • Education Level: Primary
  • # of students: 665
  • # of teachers: 41
8
GreatSchools Rating

Danny Jones Middle School

  • Education Level: Middle
  • # of students: 843
  • # of teachers: 51
9
GreatSchools Rating

Mansfield Lake Ridge High School

  • Education Level: High
  • # of students: 2,085
  • # of teachers: 113
NA
GreatSchools Rating
 

$382,500$467,500$425,000

PURCHASE PRICE

$2,340$2,860$2,600

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,600
EXPENSES Loan Payment -$1,476
Property Tax -$933
Property Insurance -$213
HOA -$46
Property Management Fees -$99
CASH FLOW
-$166

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.

$425,000

PROJECTED PRICE

$2,600

PROJECTED RENT

0.61%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 6.4%
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$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$118,375

INVESTMENT

$118,375

Down Payment
$106,250
Rehab Estimate
$5,750
Closing Costs
$6,375

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$1,476

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $106,250
Loan Amount $318,750
See What Happens When You Reinvest Cash Flow

2.33

YEARS SAVED

$7,252

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,600

    LIST RENT
  • $0.81

    LIST RENT PER SQFT
  • $2,868

    COMP ESTIMATED VALUE
  • $0.89

    COMP AVG. RENT PER SQFT
Comps Range
$2,600
1$2,6002$2,7953$2,7954$3,0005$3,065
$3,065
RENT COMPS ANALYSIS
  • 2916 Bandera Grand Prairie, TX 1
    • 4 beds 3 baths ∙ 3,213 Sqft ∙ Built 2007 4 beds 3 baths ∙ 3,213 Sqft ∙ Built 2007
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $0.81
    •  
  • 1408 Judy Lane Mansfield, TX 2
    • 5 beds 3 baths ∙ 3,160 Sqft ∙ Built 2007 5 beds 3 baths ∙ 3,160 Sqft ∙ Built 2007
    LEASED 05/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,795
    • $0.88
    •  
  • 2928 Velero Grand Prairie, TX 3
    • 4 beds 4 baths ∙ 3,198 Sqft ∙ Built 2005 4 beds 4 baths ∙ 3,198 Sqft ∙ Built 2005
    LEASED 01/28/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,795
    • $0.87
    •  
  • 6979 Sea Harbor Drive Grand Prairie, TX 4
    • 4 beds 4 baths ∙ 3,316 Sqft ∙ Built 2010 4 beds 4 baths ∙ 3,316 Sqft ∙ Built 2010
    LEASED 07/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $0.90
    •  
  • 2672 Bridgewater Drive Grand Prairie, TX 5
    • 4 beds 4 baths ∙ 3,320 Sqft ∙ Built 2006 4 beds 4 baths ∙ 3,320 Sqft ∙ Built 2006
    LEASED 01/02/21
    • Rent
    • Rent Per SQFT
    •  
    • $3,065
    • $0.92
    •  
PROPERTY LISTING DETAILS
Jordan Davis
Keller Williams Arlington
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14528968
Last Updated: 03/11/2021
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