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2920 Pinehurst Grand Prairie, TX 75104

4 Beds 4 Baths 3,269 sqft Built 2006

$459,900

List Price

$2,880

$2.6K - $3.1K

Rent Est.

PROPERTY INFO

January 30, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2006
  • Price/Sqft : $140.69
  • 2 Days on Market
  • MLS # : 14509092
  • Updated Date : 01/30/2021 at 19:09
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,269 sqft
  • Baths : 3 full , 1 half
Listing Agent

United Real Estate

Listing Agent's Description

Stunning Lake Ridge Home in Grand Prairie with Golf Course Views! This spacious home features 4 bed 3.1 bathrooms located on 1+ Acre Lot. The 1st floor features a grand foyer area as you walk in with a dining room and study adjacent from each other. Natural light throughout this home. The kitchen opens to the family comes equipped with superior luxury Viking stainless appliances. First floor master bedroom features custom bathroom and closet. Upstairs features a large game-room w golf course views, second master bedroom with walk in closet. Entertain in style on the oversized covered patio. This home has been meticulously cared for and pride of ownership shows. Minutes from Joe Pool Lake

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: Lake Ridge

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400kPrice in $109k426k

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

Neighborhood: Lake Ridge

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100012001400160018002000220024002600280030003200Rent in $9593299

* 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
Lake Ridge Elementary School Primary Regular 397 23 5
Cedar Hill High School High Regular 1,731 105 2

Lake Ridge Elementary School

  • Education Level: Primary
  • # of students: 397
  • # of teachers: 23
5
GreatSchools Rating

Cedar Hill High School

  • Education Level: High
  • # of students: 1,731
  • # of teachers: 105
2
GreatSchools Rating
 

$413,910$505,890$459,900

PURCHASE PRICE

$2,592$3,168$2,880

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,880
EXPENSES Loan Payment -$1,597
Property Tax -$1,120
Property Insurance -$216
HOA -$24
Property Management Fees -$99
CASH FLOW
-$176

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.

$459,900

PROJECTED PRICE

$2,880

PROJECTED RENT

0.63%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 7.0%
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$1.4M

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$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$127,624

INVESTMENT

$127,624

Down Payment
$114,975
Rehab Estimate
$5,750
Closing Costs
$6,899

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,597

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $114,975
Loan Amount $344,925
See What Happens When You Reinvest Cash Flow

2.25

YEARS SAVED

$7,577

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,880

    LIST RENT
  • $0.88

    LIST RENT PER SQFT
  • $2,942

    COMP ESTIMATED VALUE
  • $0.9

    COMP AVG. RENT PER SQFT
Comps Range
$2,880
1$2,8802$2,9953$3,0004$3,000
$3,000
RENT COMPS ANALYSIS
  • 2920 Pinehurst Grand Prairie, TX 1
    • 4 beds 4 baths ∙ 3,269 Sqft ∙ Built 2006 4 beds 4 baths ∙ 3,269 Sqft ∙ Built 2006
    • Rent
    • Rent Per SQFT
    •  
    • $2,880
    • $0.88
    •  
  • 2234 Southern Oaks Drive Cedar Hill, TX 2
    • 4 beds 4 baths ∙ 3,250 Sqft ∙ Built 2001 4 beds 4 baths ∙ 3,250 Sqft ∙ Built 2001
    LEASED 10/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,995
    • $0.92
    •  
  • 2901 Emerald Sound Drive Cedar Hill, TX 3
    • 5 beds 3 baths ∙ 3,256 Sqft ∙ Built 2001 5 beds 3 baths ∙ 3,256 Sqft ∙ Built 2001
    LEASED 09/16/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $0.92
    •  
  • 2781 S Lakeview Drive Cedar Hill, TX 4
    • 4 beds 3 baths ∙ 3,497 Sqft ∙ Built 1998 4 beds 3 baths ∙ 3,497 Sqft ∙ Built 1998
    LEASED 10/06/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $0.86
    •  
PROPERTY LISTING DETAILS
Kevin Mcdonald
United Real Estate
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14509092
Last Updated: 01/30/2021
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