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2959 Bandera Grand Prairie, TX 75054

5 Beds 5 Baths 4,854 sqft Built 2007

$610,000

List Price

$4,000

$3.8K - $4.3K

Rent Est.

PROPERTY INFO

December 13, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2007
  • Price/Sqft : $125.67
  • 1 Days on Market
  • MLS # : 14485674
  • Updated Date : 12/12/2020 at 23:00
CONSTRUCTION
  • Beds : 5
  • Floor Size : 4,854 sqft
  • Baths : 3 full , 2 half
Listing Agent

Ultima Real Estate

Listing Agent's Description

Stunning property Former Heritage model home loaded with lots of upgrades! Walk in to a majestic view of vaulted ceilings, textured walls, and iron stairway. Kitchen with gourmet style island, granite countertops, gas cooking, and stainless steel appliances. King master bedroom includes exercise room, elegant sitting area and oversize bathroom. Upstairs you will find 4 bedrooms and a state of the art media room ready for your favorite movie nights and family gatherings! Wait! That's not all.. Don't forget your towel to jump in the oasis pool on those sunny days! Get in the jacuzzi for relaxation. Cookouts in the outdoor grill, and still plenty of backyard space for playing. You don't want to miss this one!

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: 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
 

$549,000$671,000$610,000

PURCHASE PRICE

$3,600$4,400$4,000

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $4,000
EXPENSES Loan Payment -$2,251
Property Tax -$1,339
Property Insurance -$308
HOA -$43
Property Management Fees -$99
CASH FLOW
-$39

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.

$610,000

PROJECTED PRICE

$4,000

PROJECTED RENT

0.66%

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$1.4M$1.6M$1.8M

PROJECTED ANNUAL CASH FLOW

11530-$10k-$5.0k$0.0$5.0k$10k$15k$20k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M$1.8M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$167,400

INVESTMENT

$167,400

Down Payment
$152,500
Rehab Estimate
$5,750
Closing Costs
$9,150

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$2,251

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $152,500
Loan Amount $457,500
See What Happens When You Reinvest Cash Flow

4.08

YEARS SAVED

$28,271

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $4,000

    LIST RENT
  • $0.82

    LIST RENT PER SQFT
  • $4,191

    COMP ESTIMATED VALUE
  • $0.86

    COMP AVG. RENT PER SQFT
Comps Range
$3,500
1$3,5002$4,0003$4,2004$4,450
$4,450
RENT COMPS ANALYSIS
  • 2959 Bandera Grand Prairie, TX 2
    • 5 beds 4 baths ∙ 4,854 Sqft ∙ Built 2007 5 beds 4 baths ∙ 4,854 Sqft ∙ Built 2007
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $4,000
    • $0.82
    •  
  • 4805 Comstock Way Mansfield, TX 1
    • 6 beds 5 baths ∙ 4,666 Sqft ∙ Built 2017 6 beds 5 baths ∙ 4,666 Sqft ∙ Built 2017
    property image
    LEASED 11/12/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $0.75
    •  
  • 2716 La Jolla Boulevard Grand Prairie, TX 3
    • 6 beds 4 baths ∙ 4,667 Sqft ∙ Built 2020 6 beds 4 baths ∙ 4,667 Sqft ∙ Built 2020
    property image
    LEASED 11/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,200
    • $0.90
    •  
  • 2627 Linda Vista Grand Prairie, TX 4
    • 5 beds 5 baths ∙ 4,752 Sqft ∙ Built 2017 5 beds 5 baths ∙ 4,752 Sqft ∙ Built 2017
    property image
    LEASED 02/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,450
    • $0.94
    •  
PROPERTY LISTING DETAILS
Lidia Molina
Ultima Real Estate
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14485674
Last Updated: 12/12/2020
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