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3314 Wilmington Drive Grand Prairie, TX 75052

3 Beds 2 Baths 1,434 sqft Built 1988

$229,000

List Price

$1,410

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 20, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1988
  • Price/Sqft : $159.69
  • 2 Days on Market
  • MLS # : 14537113
  • Updated Date : 03/20/2021 at 20:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,434 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Arlington

Listing Agent's Description

Open house Sun March 21 from 12 to 3pm Casa abierta Domingo Marzo 21 dr 12pm a 3pm Come see this updated home, it is conveniently located by shops, restaurants, close to major highways. Welcome you into this charming home! When you walk in you will be greeted by a Spacious Living Room with a super cozy fireplace, the kitchen comes equipped with Stainless Steel Appliances and granite counter tops. The bathrooms are spacious and have been updated with a large Master bedroom. You will find tile flooring, baseboards, privacy fence, and so much more. Buyers and Buyers agent verify all the information contained. Buyer to pay for a new survey if needed.

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
 

$206,100$251,900$229,000

PURCHASE PRICE

$1,269$1,551$1,410

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,410
EXPENSES Loan Payment -$795
Property Tax -$558
Property Insurance -$110
Property Management Fees -$99
CASH FLOW
-$152

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.

$229,000

PROJECTED PRICE

$1,410

PROJECTED RENT

0.62%

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-$4.0k-$2.0k$0.0$2.0k$4.0k

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$66,435

INVESTMENT

$66,435

Down Payment
$57,250
Rehab Estimate
$5,750
Closing Costs
$3,435

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$795

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $57,250
Loan Amount $171,750
See What Happens When You Reinvest Cash Flow

1.33

YEARS SAVED

$1,503

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,410

    LIST RENT
  • $0.98

    LIST RENT PER SQFT
  • $1,402

    COMP ESTIMATED VALUE
  • $0.98

    COMP AVG. RENT PER SQFT
Comps Range
$1,410
1$1,4102$1,4753$1,4954$1,6005$1,600
$1,600
RENT COMPS ANALYSIS
  • 3314 Wilmington Drive Grand Prairie, TX 1
    • 3 beds 2 baths ∙ 1,434 Sqft ∙ Built 1988 3 beds 2 baths ∙ 1,434 Sqft ∙ Built 1988
    • Rent
    • Rent Per SQFT
    •  
    • $1,410
    • $0.98
    •  
  • 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
    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
    LEASED 04/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.96
    •  
  • 3165 Walingford Drive Grand Prairie, TX 4
    • 3 beds 2 baths ∙ 1,557 Sqft ∙ Built 1995 3 beds 2 baths ∙ 1,557 Sqft ∙ Built 1995
    LEASED 01/22/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $1.03
    •  
  • 318 Glendale Drive Grand Prairie, TX 5
    • 3 beds 2 baths ∙ 1,594 Sqft ∙ Built 1972 3 beds 2 baths ∙ 1,594 Sqft ∙ Built 1972
    LEASED 03/15/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $1.00
    •  
PROPERTY LISTING DETAILS
Tony Salinas
Keller Williams Arlington
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14537113
Last Updated: 03/20/2021
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