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2944 Cool Water Terrace Grand Prairie, TX 75054

4 Beds 4 Baths 3,140 sqft Built 2014

$390,900

List Price

$2,530

$2.3K - $2.8K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 25, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2014
  • Price/Sqft : $124.49
  • 4 Days on Market
  • MLS # : 14520617
  • Updated Date : 02/26/2021 at 18:56
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,140 sqft
  • Baths : 2 full , 2 half
Listing Agent

Social Realty, Llc

Listing Agent's Description

Immaculate two story home in the Lakeview neighborhood of Grand Prairie. This better than new DR Horton will wow you with its grand entry way, soaring ceilings, natural light, large gourmet kitchen, granite countertops, private master suite, formal living and dining, game room, and media room. Backyard is perfect for entertaining and has plenty of room for a pool. Enjoy the community pool, close proximity to shopping and highways, and highly rated Mansfield ISD.

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

Zip Code: 75054

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340kPrice in $109k354k

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

Zip Code: 75054

ZipNIR Market*CityMarket2010Year20002019 Q2100012001400160018002000220024002600Rent in $9592659

* 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
 

$351,810$429,990$390,900

PURCHASE PRICE

$2,277$2,783$2,530

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,530
EXPENSES Loan Payment -$1,358
Property Tax -$858
Property Insurance -$209
HOA -$38
Property Management Fees -$99
CASH FLOW
-$31

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.

$390,900

PROJECTED PRICE

$2,530

PROJECTED RENT

0.65%

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

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$109,339

INVESTMENT

$109,339

Down Payment
$97,725
Rehab Estimate
$5,750
Closing Costs
$5,864

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,358

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $97,725
Loan Amount $293,175
See What Happens When You Reinvest Cash Flow

3.67

YEARS SAVED

$13,850

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,530

    LIST RENT
  • $0.81

    LIST RENT PER SQFT
  • $2,716

    COMP ESTIMATED VALUE
  • $0.87

    COMP AVG. RENT PER SQFT
Comps Range
$2,530
1$2,5302$2,5953$2,7504$2,7505$2,800
$2,800
RENT COMPS ANALYSIS
  • 2944 Cool Water Terrace Grand Prairie, TX 1
    • 4 beds 4 baths ∙ 3,140 Sqft ∙ Built 2014 4 beds 4 baths ∙ 3,140 Sqft ∙ Built 2014
    • Rent
    • Rent Per SQFT
    •  
    • $2,530
    • $0.81
    •  
  • 3 Saddlewood Court Mansfield, TX 2
    • 5 beds 3 baths ∙ 3,298 Sqft ∙ Built 2003 5 beds 3 baths ∙ 3,298 Sqft ∙ Built 2003
    LEASED 10/18/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,595
    • $0.79
    •  
  • 2928 Albares Grand Prairie, TX 3
    • 4 beds 4 baths ∙ 3,045 Sqft ∙ Built 2011 4 beds 4 baths ∙ 3,045 Sqft ∙ Built 2011
    LEASED 03/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,750
    • $0.90
    •  
  • 7208 Darsena Grand Prairie, TX 4
    • 4 beds 4 baths ∙ 2,985 Sqft ∙ Built 2009 4 beds 4 baths ∙ 2,985 Sqft ∙ Built 2009
    LEASED 02/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,750
    • $0.92
    •  
  • 511 Carnation Lane Mansfield, TX 5
    • 5 beds 3 baths ∙ 3,282 Sqft ∙ Built 2011 5 beds 3 baths ∙ 3,282 Sqft ∙ Built 2011
    LEASED 08/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $0.85
    •  
PROPERTY LISTING DETAILS
Amira Allan
Social Realty, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14520617
Last Updated: 02/26/2021
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