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3353 Stoneway Drive Grand Prairie, TX 75052

3 Beds 2 Baths 1,648 sqft Built 2001

$245,000

List Price

$1,580

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 25, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2001
  • Price/Sqft : $148.67
  • 4 Days on Market
  • MLS # : 14521745
  • Updated Date : 02/26/2021 at 21:11
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,648 sqft
  • Baths : 2 full
Listing Agent

Homesusa.com

Listing Agent's Description

MULTIPLE OFFERS HIGHEST AND BEST DUE BY SUNDAY 2-28-2021 at 6 PM! Awesome 3-2-2 shows Pride of Ownership in this Well-Maintained Home! Conveniently located with Quick Access to I-20, 360 and President George Bush Toll-road! You cannot beat this location! This home is a Must See! Recent Updates Include: Kitchen Appliances 2016, Dishwasher 2017, Garage Door 2017, Water Heater 2016 and Carpet and Pad 2015, Exterior AC Unit 2020, Heating Furnace 2020, New Floors.

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: Forum Place

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240kPrice in $88k258k

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

Neighborhood: Forum Place

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100011001200130014001500160017001800Rent in $9451887

* 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
Barnett Junior High School Middle Regular 893 69 6
Bowie High School High Regular 3,053 194 5
Barnett Junior High School Middle Unknown NA

Barnett Junior High School

  • Education Level: Middle
  • # of students: 893
  • # of teachers: 69
6
GreatSchools Rating

Bowie High School

  • Education Level: High
  • # of students: 3,053
  • # of teachers: 194
5
GreatSchools Rating

Barnett Junior High School

  • Education Level: Middle
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$220,500$269,500$245,000

PURCHASE PRICE

$1,422$1,738$1,580

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,580
EXPENSES Loan Payment -$851
Property Tax -$538
Property Insurance -$122
Property Management Fees -$99
CASH FLOW
-$30

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.

$245,000

PROJECTED PRICE

$1,580

PROJECTED RENT

0.64%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.74%
Appreciation Year (1-5) 10.7%
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$200k$400k$600k$800k

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$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$900k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$70,675

INVESTMENT

$70,675

Down Payment
$61,250
Rehab Estimate
$5,750
Closing Costs
$3,675

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$851

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $61,250
Loan Amount $183,750
See What Happens When You Reinvest Cash Flow

3.58

YEARS SAVED

$8,010

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,580

    LIST RENT
  • $0.96

    LIST RENT PER SQFT
  • $1,582

    COMP ESTIMATED VALUE
  • $0.96

    COMP AVG. RENT PER SQFT
Comps Range
$1,580
1$1,5802$1,6003$1,6954$1,6955$1,795
$1,795
RENT COMPS ANALYSIS
  • 3353 Stoneway Drive Grand Prairie, TX 1
    • 3 beds 2 baths ∙ 1,648 Sqft ∙ Built 2001 3 beds 2 baths ∙ 1,648 Sqft ∙ Built 2001
    • Rent
    • Rent Per SQFT
    •  
    • $1,580
    • $0.96
    •  
  • 2751 Scarborough Drive Grand Prairie, TX 2
    • 3 beds 2 baths ∙ 1,697 Sqft ∙ Built 1997 3 beds 2 baths ∙ 1,697 Sqft ∙ Built 1997
    LEASED 05/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.94
    •  
  • 3531 Tamarack Drive Grand Prairie, TX 3
    • 3 beds 2 baths ∙ 1,822 Sqft ∙ Built 2000 3 beds 2 baths ∙ 1,822 Sqft ∙ Built 2000
    LEASED 05/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.93
    •  
  • 2918 Hollow Oak Drive Grand Prairie, TX 4
    • 4 beds 2 baths ∙ 1,786 Sqft ∙ Built 1996 4 beds 2 baths ∙ 1,786 Sqft ∙ Built 1996
    LEASED 10/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.95
    •  
  • 2533 Tiber River Lane Grand Prairie, TX 5
    • 3 beds 2 baths ∙ 1,755 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,755 Sqft ∙ Built 2005
    LEASED 11/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $1.02
    •  
PROPERTY LISTING DETAILS
Navjot Singh
Homesusa.com
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14521745
Last Updated: 02/26/2021
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