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3306 Wilmington Drive Grand Prairie, TX 75052

3 Beds 2 Baths 1,413 sqft Built 1987

$223,100

List Price

$1,560

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

January 23, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1987
  • Price/Sqft : $157.89
  • 2 Days on Market
  • MLS # : 14505451
  • Updated Date : 01/23/2021 at 19:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,413 sqft
  • Baths : 2 full
Listing Agent

Berkshire Hathawayhs Penfed Tx

Listing Agent's Description

Charming 3 bedroom, 2 bathroom, single-story home in Wallingford Village! You will love all of the windows that make this home bright and airy throughout. The impressive living room welcomes all of your entertaining desires with beautiful engineered wood floors and a cozy wood-burning fireplace. The stylish kitchen features new paint, ample cabinetry, a great island for food prep, nice high ceilings with a ceiling fan. A comfortable primary bedroom is a relaxing retreat and offers new carpet and an en-suite bathroom with double vanities and a shower with a thoughtful shaving ledge. New roof! Buyer & Buyer Agent to verify all info including, but not limited to, room dimensions, features, schools.

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

Neighborhood: Wallingford Village

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240kPrice in $88k243k

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

Neighborhood: Wallingford Village

NeighborhoodNIR Market*CityMarket2010Year20002019 Q290010001100120013001400150016001700Rent in $8781734

* 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
Lorenzo De Zavala Environmental Science Academy Primary Regular 887 53 6
Andrew Jackson Middle School Middle Regular 1,128 68 6
Dubiski Career High School High Regular 1,486 86 8

Lorenzo De Zavala Environmental Science Academy

  • Education Level: Primary
  • # of students: 887
  • # of teachers: 53
6
GreatSchools Rating

Andrew Jackson Middle School

  • Education Level: Middle
  • # of students: 1,128
  • # of teachers: 68
6
GreatSchools Rating

Dubiski Career High School

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

$200,790$245,410$223,100

PURCHASE PRICE

$1,404$1,716$1,560

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,560
EXPENSES Loan Payment -$775
Property Tax -$543
Property Insurance -$109
Property Management Fees -$99
CASH FLOW
$34

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.

$223,100

PROJECTED PRICE

$1,560

PROJECTED RENT

0.70%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.74%
Appreciation Year (1-5) 10.6%
Maintenance Year (1-5) 8.00%
Vacancy 6.69%
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

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$64,872

INVESTMENT

$64,872

Down Payment
$55,775
Rehab Estimate
$5,750
Closing Costs
$3,347

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$775

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $55,775
Loan Amount $167,325
See What Happens When You Reinvest Cash Flow

4.83

YEARS SAVED

$11,010

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,560

    LIST RENT
  • $1.1

    LIST RENT PER SQFT
  • $1,378

    COMP ESTIMATED VALUE
  • $0.98

    COMP AVG. RENT PER SQFT
Comps Range
$1,445
1$1,4452$1,4753$1,4954$1,5605$1,600
$1,600
RENT COMPS ANALYSIS
  • 3306 Wilmington Drive Grand Prairie, TX 4
    • 3 beds 2 baths ∙ 1,413 Sqft ∙ Built 1987 3 beds 2 baths ∙ 1,413 Sqft ∙ Built 1987
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,560
    • $1.10
    •  
  • 505 Alva Drive Grand Prairie, TX 1
    • 3 beds 2 baths ∙ 1,454 Sqft ∙ Built 1979 3 beds 2 baths ∙ 1,454 Sqft ∙ Built 1979
    property image
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,445
    • $0.99
    •  
  • 3326 Spring Meadow Lane Grand Prairie, TX 2
    • 3 beds 2 baths ∙ 1,602 Sqft ∙ Built 1995 3 beds 2 baths ∙ 1,602 Sqft ∙ Built 1995
    property image
    LEASED 04/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,475
    • $0.92
    •  
  • 3174 Christopher Street Grand Prairie, TX 3
    • 3 beds 2 baths ∙ 1,552 Sqft ∙ Built 1977 3 beds 2 baths ∙ 1,552 Sqft ∙ Built 1977
    property image
    LEASED 04/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.96
    •  
  • 3165 Walingford Drive Grand Prairie, TX 5
    • 3 beds 2 baths ∙ 1,557 Sqft ∙ Built 1995 3 beds 2 baths ∙ 1,557 Sqft ∙ Built 1995
    property image
    LEASED 01/22/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $1.03
    •  
PROPERTY LISTING DETAILS
Wendy Galloway
Berkshire Hathawayhs Penfed Tx
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14505451
Last Updated: 01/23/2021
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