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3117 Longbow Drive Grand Prairie, TX 75052

3 Beds 3 Baths 2,758 sqft Built 1998

$269,900

List Price

$2,090

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

January 09, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1998
  • Price/Sqft : $97.86
  • 2 Days on Market
  • MLS # : 14496724
  • Updated Date : 01/09/2021 at 19:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,758 sqft
  • Baths : 2 full , 1 half
Listing Agent

Offerpad Brokerage, Llc

Listing Agent's Description

VACANT! Don't miss this incredible two-story home in a fantastic location! New flooring. Home features fresh paint throughout! The kitchen offers granite countertops and new appliances. Large master with sitting area. Upstairs game room, excellent for entertaining! Come see it today!

SEE MORE

MARKET HIGHLIGHTS

  • # 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)
  • . Dallas has 7th largest concentration of high-tech jobs in the U.S. (Dallas Chamber)

PRICE & RENT TRENDS

Neighborhood: Royal Estates Grapevine

NeighborhoodNIR Market*CityMarket2010Year20002019110k120k130k140k150k160k170k180k190k200k210k220k230k240kPrice in $109k243k

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

Neighborhood: Royal Estates Grapevine

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000110012001300140015001600170018001900Rent in $9591931

* 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
Remynse Elementary School Primary Regular 618 41 4
Barnett Junior High School Middle Regular 893 69 6
Bowie High School High Regular 3,053 194 5

Remynse Elementary School

  • Education Level: Primary
  • # of students: 618
  • # of teachers: 41
4
GreatSchools Rating

Barnett Junior High School

  • Education Level: Middle
  • # of students: 893
  • # of teachers: 69
6
GreatSchools Rating

Bowie High School

  • Education Level: High
  • # of students: 3,053
  • # of teachers: 194
5
GreatSchools Rating
 

$242,910$296,890$269,900

PURCHASE PRICE

$1,881$2,299$2,090

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,090
EXPENSES Loan Payment -$937
Property Tax -$592
Property Insurance -$187
Property Management Fees -$99
CASH FLOW
$275

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 14% of earned rent to cover both maintenance and periods of vacancy.

$269,900

PROJECTED PRICE

$2,090

PROJECTED RENT

0.77%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 9.2%
Maintenance Year (1-5) 8.00%
Vacancy 6.39%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$77,274

INVESTMENT

$77,274

Down Payment
$67,475
Rehab Estimate
$5,750
Closing Costs
$4,049

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$937

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $67,475
Loan Amount $202,425
See What Happens When You Reinvest Cash Flow

9.42

YEARS SAVED

$35,163

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,090

    LIST RENT
  • $0.76

    LIST RENT PER SQFT
  • $2,124

    COMP ESTIMATED VALUE
  • $0.77

    COMP AVG. RENT PER SQFT
Comps Range
$1,900
1$1,9002$1,9503$1,9954$2,0905$2,100
$2,100
RENT COMPS ANALYSIS
  • 3117 Longbow Drive Grand Prairie, TX 4
    • 3 beds 3 baths ∙ 2,758 Sqft ∙ Built 1998 3 beds 3 baths ∙ 2,758 Sqft ∙ Built 1998
    • Rent
    • Rent Per SQFT
    •  
    • $2,090
    • $0.76
    •  
  • 2467 Wayne Way Grand Prairie, TX 1
    • 4 beds 3 baths ∙ 2,523 Sqft ∙ Built 2002 4 beds 3 baths ∙ 2,523 Sqft ∙ Built 2002
    LEASED 04/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.75
    •  
  • 2720 Olympia Drive Grand Prairie, TX 2
    • 3 beds 2 baths ∙ 2,495 Sqft ∙ Built 1993 3 beds 2 baths ∙ 2,495 Sqft ∙ Built 1993
    LEASED 12/11/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.78
    •  
  • 1032 Valley Brook Lane Grand Prairie, TX 3
    • 4 beds 3 baths ∙ 2,556 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,556 Sqft ∙ Built 2004
    LEASED 01/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.78
    •  
  • 3507 Tamarack Drive Grand Prairie, TX 5
    • 4 beds 3 baths ∙ 2,735 Sqft ∙ Built 2000 4 beds 3 baths ∙ 2,735 Sqft ∙ Built 2000
    LEASED 01/06/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.77
    •  
PROPERTY LISTING DETAILS
Robert Jones
Offerpad Brokerage, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14496724
Last Updated: 01/09/2021
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