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2967 Wood Lake Trail Grand Prairie, TX 75054

4 Beds 4 Baths 3,307 sqft Built 2015

$393,500

List Price

$2,550

$2.3K - $2.8K

Rent Est.

PROPERTY INFO

January 22, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2015
  • Price/Sqft : $118.99
  • 3 Days on Market
  • MLS # : 14504519
  • Updated Date : 01/22/2021 at 17:39
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,307 sqft
  • Baths : 2 full , 2 half
Listing Agent

Ultima Real Estate

Listing Agent's Description

Don't miss this Immaculate 4 bedroom 2 Full baths with 2 Half baths home in Grand Prairie on a Corner Lot. The large open kitchen features Dark Wood Cabinets, Stainless Steel Appliances, Commerical Grade Range, a Butlers Pantry, and a Large Kitchen Island. Enjoy the Huge Game Room Upstairs and Oversized Backyard for family fun and entertaining. Fall in love with All bedrooms being located downstairs, with the masters oversized suite walk in closet that's anyones dream! You may want to hurry fast, as this beauty won't last!

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

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
 

$354,150$432,850$393,500

PURCHASE PRICE

$2,295$2,805$2,550

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,550
EXPENSES Loan Payment -$1,367
Property Tax -$863
Property Insurance -$218
HOA -$38
Property Management Fees -$99
CASH FLOW
-$35

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.

$393,500

PROJECTED PRICE

$2,550

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$110,028

INVESTMENT

$110,028

Down Payment
$98,375
Rehab Estimate
$5,750
Closing Costs
$5,903

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,367

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $98,375
Loan Amount $295,125
See What Happens When You Reinvest Cash Flow

3.67

YEARS SAVED

$13,612

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,550

    LIST RENT
  • $0.77

    LIST RENT PER SQFT
  • $2,778

    COMP ESTIMATED VALUE
  • $0.84

    COMP AVG. RENT PER SQFT
Comps Range
$2,550
1$2,5502$2,5953$2,6954$2,7505$2,800
$2,800
RENT COMPS ANALYSIS
  • 2967 Wood Lake Trail Grand Prairie, TX 1
    • 4 beds 4 baths ∙ 3,307 Sqft ∙ Built 2015 4 beds 4 baths ∙ 3,307 Sqft ∙ Built 2015
    • Rent
    • Rent Per SQFT
    •  
    • $2,550
    • $0.77
    •  
  • 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
    •  
  • 2944 Wood Lake Trail Grand Prairie, TX 3
    • 4 beds 4 baths ∙ 3,275 Sqft ∙ Built 2015 4 beds 4 baths ∙ 3,275 Sqft ∙ Built 2015
    LEASED 08/23/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,695
    • $0.82
    •  
  • 2928 Albares Grand Prairie, TX 4
    • 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
    •  
  • 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
Keleisha Anderson
Ultima Real Estate
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14504519
Last Updated: 01/22/2021
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