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3139 S Camino Lagos Grand Prairie, TX 75054

3 Beds 2 Baths 1,997 sqft Built 2006

$295,000

List Price

$1,860

$1.7K - $2K

Rent Est.

PROPERTY INFO

November 06, 2020 RECENTLY ADDED
FACTS
  • Built In 2006
  • Price/Sqft : $147.72
  • 3 Days on Market
  • MLS # : 14466641
  • Updated Date : 11/06/2020 at 09:45
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,997 sqft
  • Baths : 2 full
Listing Agent

Coldwell Banker Realty

Listing Agent's Description

Absolutely Adorable Mira Lagos home in exemplary Mansfield ISD! Ideal for any buyer! Open kitchen, living & dining area with Breakfast bar! Perfect for hosting larger gatherings. Master suite & bath include a deep garden tub, sep. shower, dual vanities & large walk in closet. Closet large enough that also has a Storm shelter anchored inside. Spacious 2nd & 3rd bedrooms with a shared full bathroom. Entry Study is perfect for at-home office or school work. Home includes natural light throughout with skylight in the Kitchen! Kitchen includes double sink, cooktop, island, builtin oven, microwave & breakfast bar! Walk-in pantry & a full size laundry are adjacent! 2020 Roof! Community amenities include workout area!

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
 

$265,500$324,500$295,000

PURCHASE PRICE

$1,674$2,046$1,860

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,860
EXPENSES Loan Payment -$1,088
Property Tax -$647
Property Insurance -$143
HOA -$47
Property Management Fees -$99
CASH FLOW
-$164

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.

$295,000

PROJECTED PRICE

$1,860

PROJECTED RENT

0.63%

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$100k$200k$300k$400k$500k$600k$700k$800k$900k

PROJECTED ANNUAL CASH FLOW

11530-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k$900k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$83,925

INVESTMENT

$83,925

Down Payment
$73,750
Rehab Estimate
$5,750
Closing Costs
$4,425

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$1,088

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $73,750
Loan Amount $221,250
See What Happens When You Reinvest Cash Flow

1.83

YEARS SAVED

$4,425

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,860

    LIST RENT
  • $0.93

    LIST RENT PER SQFT
  • $1,897

    COMP ESTIMATED VALUE
  • $0.95

    COMP AVG. RENT PER SQFT
Comps Range
$1,860
1$1,8602$1,8953$1,8954$2,0005$2,095
$2,095
RENT COMPS ANALYSIS
  • 3139 S Camino Lagos Grand Prairie, TX 1
    • 3 beds 2 baths ∙ 1,997 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,997 Sqft ∙ Built 2006
    • Rent
    • Rent Per SQFT
    •  
    • $1,860
    • $0.93
    •  
  • 3223 Yeltes Grand Prairie, TX 2
    • 3 beds 2 baths ∙ 2,040 Sqft ∙ Built 2005 3 beds 2 baths ∙ 2,040 Sqft ∙ Built 2005
    LEASED 05/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.93
    •  
  • 7339 Gallo Grand Prairie, TX 3
    • 4 beds 2 baths ∙ 2,061 Sqft ∙ Built 2005 4 beds 2 baths ∙ 2,061 Sqft ∙ Built 2005
    LEASED 02/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.92
    •  
  • 7455 Tormes Grand Prairie, TX 4
    • 4 beds 2 baths ∙ 2,062 Sqft ∙ Built 2006 4 beds 2 baths ∙ 2,062 Sqft ∙ Built 2006
    LEASED 04/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.97
    •  
  • 3164 Guadaloupe Grand Prairie, TX 5
    • 4 beds 2 baths ∙ 2,144 Sqft ∙ Built 2006 4 beds 2 baths ∙ 2,144 Sqft ∙ Built 2006
    LEASED 12/30/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,095
    • $0.98
    •  
PROPERTY LISTING DETAILS
Darlene Harrison
Coldwell Banker Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14466641
Last Updated: 11/06/2020
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