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PROPERTY INFO
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
- # 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
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Royal Estates Grapevine
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
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
| 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
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$77,274
LOAN DETAILS
$937
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $67,475 |
| Loan Amount | $202,425 |
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
-
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
Offerpad Brokerage, Llc
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
MLS #: 14496724
Last Updated: 01/09/2021
