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2939 Arenoso Grand Prairie, TX 75054

5 Beds 4 Baths 4,440 sqft Built 2016

$510,000

List Price

$3,060

$2.8K - $3.3K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 25, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2016
  • Price/Sqft : $114.86
  • 4 Days on Market
  • MLS # : 14515765
  • Updated Date : 02/27/2021 at 08:15
CONSTRUCTION
  • Beds : 5
  • Floor Size : 4,440 sqft
  • Baths : 4 full
Listing Agent

Tdrealty

Listing Agent's Description

Located in the highly sought-after Mansfield ISD this CASTLE of a home is simply JAW-DROPPING. All the bedrooms in this EXQUISITE home are OVER-SIZED, to say the least. The GOURMET kitchen offers dual ovens and a PLETHORA of storage. The MASSIVE in-home theatre features a wet bar as well as an elevated seating section. Entertaining just became a sinch with your massive backyard, two dining areas, and two living spaces, not to mention PLENTY of bedrooms to boot. Get cozy by the fireplace or relax in the upstairs bonus loft. GORGEOUS flooring VAULTED ceilings and DECORATIVE lighting are just a few of the many LUXURIOUS features in this Show Stopper. If you want to feel like royalty then this is the place for you!

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: Bella Vista at Mira Lagos

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360k380k400kPrice in $109k418k

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

Neighborhood: Bella Vista at Mira Lagos

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001200140016001800200022002400260028003000Rent in $9593012

* 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
Cora Spencer Elementary School Primary Regular 739 43 10
Danny Jones Middle School Middle Regular 843 51 9
Mansfield Lake Ridge High School High Unknown 2,085 113 NA

Cora Spencer Elementary School

  • Education Level: Primary
  • # of students: 739
  • # of teachers: 43
10
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
 

$459,000$561,000$510,000

PURCHASE PRICE

$2,754$3,366$3,060

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,060
EXPENSES Loan Payment -$1,771
Property Tax -$1,119
Property Insurance -$284
HOA -$45
Property Management Fees -$99
CASH FLOW
-$258

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.

$510,000

PROJECTED PRICE

$3,060

PROJECTED RENT

0.60%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 6.7%
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$1.4M

PROJECTED ANNUAL CASH FLOW

11530-$10k-$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$140,900

INVESTMENT

$140,900

Down Payment
$127,500
Rehab Estimate
$5,750
Closing Costs
$7,650

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,771

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $127,500
Loan Amount $382,500
See What Happens When You Reinvest Cash Flow

1.67

YEARS SAVED

$5,726

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,060

    LIST RENT
  • $0.69

    LIST RENT PER SQFT
  • $3,541

    COMP ESTIMATED VALUE
  • $0.8

    COMP AVG. RENT PER SQFT
Comps Range
$3,060
1$3,0602$3,2503$3,4004$3,5005$4,200
$4,200
RENT COMPS ANALYSIS
  • 2939 Arenoso Grand Prairie, TX 1
    • 5 beds 4 baths ∙ 4,440 Sqft ∙ Built 2016 5 beds 4 baths ∙ 4,440 Sqft ∙ Built 2016
    • Rent
    • Rent Per SQFT
    •  
    • $3,060
    • $0.69
    •  
  • 3220 Pamplona Grand Prairie, TX 2
    • 4 beds 4 baths ∙ 4,501 Sqft ∙ Built 2010 4 beds 4 baths ∙ 4,501 Sqft ∙ Built 2010
    LEASED 06/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,250
    • $0.72
    •  
  • 4402 Woodcrest Lane Mansfield, TX 3
    • 5 beds 4 baths ∙ 4,149 Sqft ∙ Built 2014 5 beds 4 baths ∙ 4,149 Sqft ∙ Built 2014
    LEASED 02/05/21
    • Rent
    • Rent Per SQFT
    •  
    • $3,400
    • $0.82
    •  
  • 4805 Comstock Way Mansfield, TX 4
    • 6 beds 5 baths ∙ 4,666 Sqft ∙ Built 2017 6 beds 5 baths ∙ 4,666 Sqft ∙ Built 2017
    LEASED 11/12/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $0.75
    •  
  • 2716 La Jolla Boulevard Grand Prairie, TX 5
    • 6 beds 4 baths ∙ 4,667 Sqft ∙ Built 2020 6 beds 4 baths ∙ 4,667 Sqft ∙ Built 2020
    LEASED 02/23/21
    • Rent
    • Rent Per SQFT
    •  
    • $4,200
    • $0.90
    •  
PROPERTY LISTING DETAILS
Tanika Donnell
Tdrealty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14515765
Last Updated: 02/27/2021
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