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2971 Cayuga Lane Grand Prairie, TX 75054

5 Beds 4 Baths 3,445 sqft Built 2016

$479,000

List Price

$2,750

$2.5K - $3K

Rent Est.

PROPERTY INFO

February 12, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2016
  • Price/Sqft : $139.04
  • 3 Days on Market
  • MLS # : 14518095
  • Updated Date : 02/13/2021 at 07:32
CONSTRUCTION
  • Beds : 5
  • Floor Size : 3,445 sqft
  • Baths : 4 full
Listing Agent

Avignon Realty

Listing Agent's Description

Fabulous Home in Lakeview West. This is a MUST SEE!!! Beautiful corner lot with 5 bedrooms, 4 baths, 3 car garage, Master bedroom and one additional bedroom with a full bath downstairs.,,,huge loft and media room upstairs. Well designed open floor plan & loaded with upgrades. Granite countertops, stainless steel kitchen appliances...wrought iron staircase, patio...too much to list

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
 

$431,100$526,900$479,000

PURCHASE PRICE

$2,475$3,025$2,750

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,750
EXPENSES Loan Payment -$1,664
Property Tax -$1,051
Property Insurance -$226
HOA -$35
Property Management Fees -$99
CASH FLOW
-$325

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.

$479,000

PROJECTED PRICE

$2,750

PROJECTED RENT

0.57%

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

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$132,685

INVESTMENT

$132,685

Down Payment
$119,750
Rehab Estimate
$5,750
Closing Costs
$7,185

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$1,664

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $119,750
Loan Amount $359,250
See What Happens When You Reinvest Cash Flow

1.25

YEARS SAVED

$3,055

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,750

    LIST RENT
  • $0.8

    LIST RENT PER SQFT
  • $2,877

    COMP ESTIMATED VALUE
  • $0.84

    COMP AVG. RENT PER SQFT
Comps Range
$2,695
1$2,6952$2,7503$2,7954$2,8505$3,150
$3,150
RENT COMPS ANALYSIS
  • 2971 Cayuga Lane Grand Prairie, TX 2
    • 5 beds 4 baths ∙ 3,445 Sqft ∙ Built 2016 5 beds 4 baths ∙ 3,445 Sqft ∙ Built 2016
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,750
    • $0.80
    •  
  • 2944 Wood Lake Trail Grand Prairie, TX 1
    • 4 beds 4 baths ∙ 3,275 Sqft ∙ Built 2015 4 beds 4 baths ∙ 3,275 Sqft ∙ Built 2015
    property image
    LEASED 08/23/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,695
    • $0.82
    •  
  • 2928 Velero Grand Prairie, TX 3
    • 4 beds 4 baths ∙ 3,198 Sqft ∙ Built 2005 4 beds 4 baths ∙ 3,198 Sqft ∙ Built 2005
    property image
    LEASED 01/28/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,795
    • $0.87
    •  
  • 2911 Velero Grand Prairie, TX 4
    • 6 beds 3 baths ∙ 3,501 Sqft ∙ Built 2005 6 beds 3 baths ∙ 3,501 Sqft ∙ Built 2005
    property image
    LEASED 04/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,850
    • $0.81
    •  
  • 10 Pinedale Court Mansfield, TX 5
    • 6 beds 4 baths ∙ 3,765 Sqft ∙ Built 2003 6 beds 4 baths ∙ 3,765 Sqft ∙ Built 2003
    property image
    LEASED 11/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,150
    • $0.84
    •  
PROPERTY LISTING DETAILS
Joseph Pham
Avignon Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14518095
Last Updated: 02/13/2021
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