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2959 Crystal Way Grand Prairie, TX 75052

5 Beds 4 Baths 4,279 sqft Built 2010

$445,000

List Price

$2,940

$2.7K - $3.2K

Rent Est.

PROPERTY INFO

January 23, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2010
  • Price/Sqft : $104.00
  • 2 Days on Market
  • MLS # : 14504433
  • Updated Date : 01/22/2021 at 22:00
CONSTRUCTION
  • Beds : 5
  • Floor Size : 4,279 sqft
  • Baths : 3 full , 1 half
Listing Agent

Orchard Brokerage

Listing Agent's Description

Click the Virtual Tour link to view the 3D Matterport walkthrough. Gorgeous two-story residence on a spacious cul-de-sac lot backing up to a greenbelt with mature landscaping, two-car garage, and great curb appeal. Quiet subdivision bordering Joe Pool Lake. Pristine interior with vaulted and recessed ceilings, wainscotting, impressive hardwoods, and generous room sizes. Four living rooms including a massive game room and media room on the upper level. The family room with a fireplace is open to the kitchen and breakfast area. The formal dining with a chandelier is adjacent to the den. The master on the main has a walk-in closet and en-suite bath. Jack & Jill secondary bedrooms upstairs. Clean and move-in ready.

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: Southgate

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $109k336k

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

Neighborhood: Southgate

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100011001200130014001500160017001800190020002100Rent in $9592171

* 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
Louise Cabaniss Elementary School Primary Regular 588 38 9
James Coble Middle School Middle Regular 884 55 7
Mansfield Timberview High School High Regular 1,657 94 5

Louise Cabaniss Elementary School

  • Education Level: Primary
  • # of students: 588
  • # of teachers: 38
9
GreatSchools Rating

James Coble Middle School

  • Education Level: Middle
  • # of students: 884
  • # of teachers: 55
7
GreatSchools Rating

Mansfield Timberview High School

  • Education Level: High
  • # of students: 1,657
  • # of teachers: 94
5
GreatSchools Rating
 

$400,500$489,500$445,000

PURCHASE PRICE

$2,646$3,234$2,940

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,940
EXPENSES Loan Payment -$1,546
Property Tax -$976
Property Insurance -$274
Property Management Fees -$99
CASH FLOW
$44

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.

$445,000

PROJECTED PRICE

$2,940

PROJECTED RENT

0.66%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 7.8%
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$15k

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$123,675

INVESTMENT

$123,675

Down Payment
$111,250
Rehab Estimate
$5,750
Closing Costs
$6,675

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,546

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $111,250
Loan Amount $333,750
See What Happens When You Reinvest Cash Flow

4.58

YEARS SAVED

$21,373

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,940

    LIST RENT
  • $0.69

    LIST RENT PER SQFT
  • $3,124

    COMP ESTIMATED VALUE
  • $0.73

    COMP AVG. RENT PER SQFT
Comps Range
$2,940
1$2,9402$3,0003$3,500
$3,500
RENT COMPS ANALYSIS
  • 2959 Crystal Way Grand Prairie, TX 1
    • 5 beds 4 baths ∙ 4,279 Sqft ∙ Built 2010 5 beds 4 baths ∙ 4,279 Sqft ∙ Built 2010
    • Rent
    • Rent Per SQFT
    •  
    • $2,940
    • $0.69
    •  
  • 5543 Clay Court Grand Prairie, TX 2
    • 5 beds 4 baths ∙ 4,494 Sqft ∙ Built 2006 5 beds 4 baths ∙ 4,494 Sqft ∙ Built 2006
    LEASED 05/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $0.67
    •  
  • 6907 Grindstone Court Arlington, TX 3
    • 4 beds 4 baths ∙ 4,432 Sqft ∙ Built 2017 4 beds 4 baths ∙ 4,432 Sqft ∙ Built 2017
    LEASED 07/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $0.79
    •  
PROPERTY LISTING DETAILS
Alix Spruce
Orchard Brokerage
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14504433
Last Updated: 01/22/2021
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