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3011 England Parkway Grand Prairie, TX 75054

5 Beds 5 Baths 4,080 sqft Built 2012

$600,000

List Price

$3,260

$3K - $3.5K

Rent Est.

PROPERTY INFO

December 10, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2012
  • Price/Sqft : $147.06
  • 4 Days on Market
  • MLS # : 14484078
  • Updated Date : 12/12/2020 at 14:55
CONSTRUCTION
  • Beds : 5
  • Floor Size : 4,080 sqft
  • Baths : 4 full , 1 half
Listing Agent

Interhomes Realty

Listing Agent's Description

The gorgeous Grand home has it all, featuring 5 bedrooms, 4.5 baths, 2 living areas, game room, media room, office, oversized 3 car garage and a backyard oasis. Large gourmet kitchen with granite throughout, boasts a large island and overlooks a spacious living room. Backyard is one most can only dream about. Ideal for entertaining with covered back patio, and an outdoor kitchen and fire pit. Pool has a built in spa along with a slide and gorgeous water feature. Close to shopping, dining, entertaining, lake, and easy access to Dallas and Fort Worth. Highly sought after neighborhood and schools within the Mansfield Independent School District.

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
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
 

$540,000$660,000$600,000

PURCHASE PRICE

$2,934$3,586$3,260

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,260
EXPENSES Loan Payment -$2,214
Property Tax -$1,317
Property Insurance -$263
HOA -$47
Property Management Fees -$99
CASH FLOW
-$679

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.

$600,000

PROJECTED PRICE

$3,260

PROJECTED RENT

0.54%

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-$15k-$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$1.6M$1.8M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$164,750

INVESTMENT

$164,750

Down Payment
$150,000
Rehab Estimate
$5,750
Closing Costs
$9,000

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 75% down payment or higher enables the proceeds from the asset to cover all costs.

$2,214

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $150,000
Loan Amount $450,000
See What Happens When You Reinvest Cash Flow

0.33

YEARS SAVED

$523

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,260

    LIST RENT
  • $0.8

    LIST RENT PER SQFT
  • $3,274

    COMP ESTIMATED VALUE
  • $0.8

    COMP AVG. RENT PER SQFT
Comps Range
$2,950
1$2,9502$2,9953$3,1504$3,2255$3,260
$3,260
RENT COMPS ANALYSIS
  • 3011 England Parkway Grand Prairie, TX 5
    • 5 beds 5 baths ∙ 4,080 Sqft ∙ Built 2012 5 beds 5 baths ∙ 4,080 Sqft ∙ Built 2012
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $3,260
    • $0.80
    •  
  • 2936 Montalbo Grand Prairie, TX 1
    • 6 beds 4 baths ∙ 3,903 Sqft ∙ Built 2010 6 beds 4 baths ∙ 3,903 Sqft ∙ Built 2010
    property image
    LEASED 12/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,950
    • $0.76
    •  
  • 2708 Fuente Grand Prairie, TX 2
    • 5 beds 5 baths ∙ 3,911 Sqft ∙ Built 2010 5 beds 5 baths ∙ 3,911 Sqft ∙ Built 2010
    property image
    LEASED 07/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,995
    • $0.77
    •  
  • 10 Pinedale Court Mansfield, TX 3
    • 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
    •  
  • 2947 Nadar Grand Prairie, TX 4
    • 4 beds 4 baths ∙ 3,850 Sqft ∙ Built 2006 4 beds 4 baths ∙ 3,850 Sqft ∙ Built 2006
    property image
    LEASED 08/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,225
    • $0.84
    •  
PROPERTY LISTING DETAILS
Keziah Farrar
Interhomes Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14484078
Last Updated: 12/12/2020
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