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312 Newberry Street Grand Prairie, TX 75052

3 Beds 2 Baths 1,360 sqft Built 1986

INVESTimate

$175,000

List Price

$1,520

$1,368 - $1,672

Rent Est.

$52,125

Investment Est.

$191,660  ( +9.52%)   1 YR EST. FORECAST

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
August 26, 2020 RECENTLY ADDED
FACTS
  • Built In 1986
  • Price/Sqft : $128.68
  • 1 Days on Market
  • MLS # : 14420998
  • Updated Date : 08/25/2020 at 19:36
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,360 sqft
  • Baths : 2 full
Listing Agent

Coldwell Banker Realty

Listing Agent's Description

Great location - close to freeway and Joe Pool Lake. Three bedrooms, two baths. Tile entryway, large living with laminate wood flooring dining area also has laminate. Kitchen has stainless gas range and dishwasher. Split bedrooms. Master bath has separate tub-shower. Two secondary BR's and full bath split from master. Property is offered AS-IS conventional or cash. Professional photos will be uploaded.

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MARKET HIGHLIGHTS

Dallas Market Report
  • . 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: Westchester

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $109k336k

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

Neighborhood: Westchester

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100011001200130014001500160017001800190020002100Rent in $9592171

* 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
Garner Fine Arts Academy Primary Regular 761 46 8
Ronald W. Reagan Middle School Middle Regular 770 51 7
Dubiski Career High School High Regular 1,486 86 8

Garner Fine Arts Academy

  • Education Level: Primary
  • # of students: 761
  • # of teachers: 46
8
GreatSchools Rating

Ronald W. Reagan Middle School

  • Education Level: Middle
  • # of students: 770
  • # of teachers: 51
7
GreatSchools Rating

Dubiski Career High School

  • Education Level: High
  • # of students: 1,486
  • # of teachers: 86
8
GreatSchools Rating
 

FINANCIALS

Learn how to read this

$157,500$192,500$175,000

PURCHASE PRICE

$1,368$1,672$1,520

RENT

DOWN PAYMENT
FINANCING
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PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow

  • Appreciation

  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation

  • Principal

  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,520
EXPENSES Loan Payment -$646
Property Tax -$426
Property Insurance -$106
Property Management Fees -$99
CASH FLOW
$244

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.

$175,000

PROJECTED PRICE

$1,520

PROJECTED RENT

0.87%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 9.52%
Maintenance Year (1-5) 8.00%
Vacancy 6.93%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$52,125

INVESTMENT

$52,125

Down Payment		 $43,750
Rehab Estimate		 $5,750
Closing Costs		 $2,625

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% down payment or higher enables the proceeds from the asset to cover all costs.

$646

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $43,750
Loan Amount $131,250
See What Happens When You Reinvest Cash Flow

11.17

YEARS SAVED

$33,267

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,520

    LIST RENT

  • $1.12

    LIST RENT PER SQFT

  • $1,357

    COMP ESTIMATED VALUE

  • $1

    COMP AVG. RENT PER SQFT
Comps Range
$1,375
1$1,3752$1,4953$1,5204$1,6005$1,625
$1,625
RENT COMPS ANALYSIS
  • 312 Newberry Street Grand Prairie, TX 3
    • 3 beds 2 baths ∙ 1,360 Sqft ∙ Built 1986 3 beds 2 baths ∙ 1,360 Sqft ∙ Built 1986
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,520
    • $1.12
    •  
  • 1206 Independence Trail Grand Prairie, TX 1
    • 3 beds 2 baths ∙ 1,388 Sqft ∙ Built 1979 3 beds 2 baths ∙ 1,388 Sqft ∙ Built 1979
    property image
    LEASED 03/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,375
    • $0.99
    •  
  • 1018 Coffeyville Trail Grand Prairie, TX 2
    • 3 beds 2 baths ∙ 1,449 Sqft ∙ Built 1980 3 beds 2 baths ∙ 1,449 Sqft ∙ Built 1980
    property image
    LEASED 11/21/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $1.03
    •  
  • 4469 Harpers Ferry Drive Grand Prairie, TX 4
    • 3 beds 2 baths ∙ 1,634 Sqft ∙ Built 1997 3 beds 2 baths ∙ 1,634 Sqft ∙ Built 1997
    property image
    LEASED 03/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.98
    •  
  • 4532 Fargo Drive Grand Prairie, TX 5
    • 3 beds 3 baths ∙ 1,644 Sqft ∙ Built 1990 3 beds 3 baths ∙ 1,644 Sqft ∙ Built 1990
    property image
    LEASED 07/25/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,625
    • $0.99
    •  
PROPERTY LISTING DETAILS
LISTING AGENT
Lorraine Miller
Coldwell Banker Realty
BUYER AGENT
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
SOURCE
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14420998
Last Updated: 08/25/2020

All returns, cash flow, and appreciation estimates are projections. Please review our Disclaimer for more information.

All values are rounded to the nearest dollar.
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