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3123 Koscher Drive Grand Prairie, TX 75104

4 Beds 5 Baths 3,487 sqft Built 2021

$547,615

List Price

$1,830

$1.6K - $2K

Rent Est.

PROPERTY INFO

Built 2021 NEW CONSTRUCTION
January 20, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2021
  • Price/Sqft : $157.04
  • 5 Days on Market
  • MLS # : 14502692
  • Updated Date : 01/20/2021 at 21:58
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,487 sqft
  • Baths : 4 full , 1 half
Listing Agent

Re/max Elite

Listing Agent's Description

This amazing secluded neighborhood near Joe Pool Lake has only a few opportunities to build your luxury dream home. This home is not built. You choose your floorplan. Your home has over an acre of outdoor living space. A covered back patio with a view af the Natural Texas landscaping going on even larger than the over the acre you own. for you to create your outdoor living space. 20 minutes to Fort Worth, 10 minutes to Dallas. Flex room could be made into a 5th bedroom. And you have an option to add a media room onto the home. The living room open to the kitchen, welcoming the whole family into the warmth of life in your new home.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • # 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)

PRICE & RENT TRENDS

Zip Code: 75104

ZipNIR Market*CityMarket2010Year20002019110k120k130k140k150k160k170k180k190k200k210k220k230k240kPrice in $109k243k

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

Zip Code: 75104

ZipNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700Rent in $9591740

* 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
Lake Ridge Elementary School Primary Regular 397 23 5
Permenter Middle School Middle Regular 632 39 4
Permenter Middle School High Regular 632 39 4

Lake Ridge Elementary School

  • Education Level: Primary
  • # of students: 397
  • # of teachers: 23
5
GreatSchools Rating

Permenter Middle School

  • Education Level: Middle
  • # of students: 632
  • # of teachers: 39
4
GreatSchools Rating

Permenter Middle School

  • Education Level: High
  • # of students: 632
  • # of teachers: 39
4
GreatSchools Rating
 

$492,854$602,377$547,615

PURCHASE PRICE

$1,647$2,013$1,830

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,830
EXPENSES Loan Payment -$1,902
Property Tax -$1,122
Property Insurance -$222
HOA -$113
Property Management Fees -$99
CASH FLOW
-$1,628

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 9% of earned rent to cover both maintenance and periods of vacancy.

$547,615

PROJECTED PRICE

$1,830

PROJECTED RENT

0.33%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 10.4%
Maintenance Year (1-5) 3.00%
Vacancy 6.39%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$500k$1.0M$1.5M$2.0M

PROJECTED ANNUAL CASH FLOW

11530-$25k-$20k-$15k-$10k-$5.0k$0.0

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$147,118

INVESTMENT

$147,118

Down Payment
$136,904
Rehab Estimate
$2,000
Closing Costs
$8,214

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 100% down payment or higher enables the proceeds from the asset to cover all costs.

$1,902

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $136,904
Loan Amount $410,711
See What Happens When You Reinvest Cash Flow

-0.33

YEARS SAVED

$5,916

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,830

    LIST RENT
  • $0.54

    LIST RENT PER SQFT
  • $2,994

    COMP ESTIMATED VALUE
  • $0.89

    COMP AVG. RENT PER SQFT
Comps Range
$1,830
1$1,8302$2,5953$2,6954$3,0005$3,100
$3,100
RENT COMPS ANALYSIS
  • 3123 Koscher Drive Grand Prairie, TX 1
    • 4 beds 2 baths ∙ 3,373 Sqft ∙ Built 2021 4 beds 2 baths ∙ 3,373 Sqft ∙ Built 2021
    • Rent
    • Rent Per SQFT
    •  
    • $1,830
    • $0.54
    •  
  • 3 Saddlewood Court Mansfield, TX 2
    • 5 beds 3 baths ∙ 3,298 Sqft ∙ Built 2003 5 beds 3 baths ∙ 3,298 Sqft ∙ Built 2003
    LEASED 10/18/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,595
    • $0.79
    •  
  • 2944 Wood Lake Trail Grand Prairie, TX 3
    • 4 beds 4 baths ∙ 3,275 Sqft ∙ Built 2015 4 beds 4 baths ∙ 3,275 Sqft ∙ Built 2015
    LEASED 08/23/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,695
    • $0.82
    •  
  • 2901 Emerald Sound Drive Cedar Hill, TX 4
    • 5 beds 3 baths ∙ 3,256 Sqft ∙ Built 2001 5 beds 3 baths ∙ 3,256 Sqft ∙ Built 2001
    LEASED 09/16/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $0.92
    •  
  • 2823 Ridgelake Drive Grand Prairie, TX 5
    • 4 beds 3 baths ∙ 3,053 Sqft ∙ Built 2018 4 beds 3 baths ∙ 3,053 Sqft ∙ Built 2018
    LEASED 12/02/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,100
    • $1.02
    •  
PROPERTY LISTING DETAILS
Lucinda Gadson
Re/max Elite
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14502692
Last Updated: 01/20/2021
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