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3515 Ponderosa Drive Grand Prairie, TX 75052

3 Beds 2 Baths 2,155 sqft Built 2001

INVESTimate

$274,900

List Price

$1,760

$1,584 - $1,936

Rent Est.

$301,428  ( +9.65%)   1 YR EST. FORECAST

PROPERTY INFO

August 22, 2020 RECENTLY ADDED
FACTS
  • Built In 2001
  • Price/Sqft : $127.56
  • 6 Days on Market
  • MLS # : 14418027
  • Updated Date : 08/22/2020 at 01:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,155 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Realty Dpr

Listing Agent's Description

Lovely, single-story home in the highly sought after Cimmaron Estates in Grand Prairie. Large, open floor plan, & kitchen to die for. This beautiful home features plenty of living space & office w sound-dampening walls, perfect for work from home professionals or classroom setting for your homeschooling needs. Beautiful hardwood flooring throughout & a custom breakfast island for entertaining. This home boasts of updated lighting, a built-in shelving unit & the modern fireplace creates a romantic ambiance for relaxing. Enjoy family time in the huge backyard and if you thought it couldn't get any better, this home is conveniently located for quick access to I20, 360 & BUSH, ready to be your HOME SWEET HOME!

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: Cimmaron Estates Grand Prairie

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240kPrice in $88k243k

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

Neighborhood: Cimmaron Estates Grand Prairie

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100011001200130014001500160017001800Rent in $9451848

* 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
Farrell Elementary School Primary Regular 763 45 5
Barnett Junior High School Middle Regular 893 69 6
Bowie High School High Regular 3,053 194 5

Farrell Elementary School

  • Education Level: Primary
  • # of students: 763
  • # of teachers: 45
5
GreatSchools Rating

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
 

$247,410$302,390$274,900

PURCHASE PRICE

$1,584$1,936$1,760

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k

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$200k$400k$600k$800k

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,760
EXPENSES Loan Payment -$1,014
Property Tax -$603
Property Insurance -$152
HOA -$14
Property Management Fees -$99
CASH FLOW
-$122

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.

$274,900

PROJECTED PRICE

$1,760

PROJECTED RENT

0.64%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.74%
Appreciation Year (1-5) 9.65%
Maintenance Year (1-5) 8.00%
Vacancy 6.69%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$78,599

INVESTMENT

$78,599

Down Payment
$68,725
Rehab Estimate
$5,750
Closing Costs
$4,124

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,014

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $68,725
Loan Amount $206,175
See What Happens When You Reinvest Cash Flow

2.33

YEARS SAVED

$5,446

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,760

    LIST RENT
  • $0.82

    LIST RENT PER SQFT
  • $1,843

    COMP ESTIMATED VALUE
  • $0.86

    COMP AVG. RENT PER SQFT
Comps Range
$1,750
1$1,7502$1,7603$1,8004$1,9955$2,100
$2,100
RENT COMPS ANALYSIS
  • 3515 Ponderosa Drive Grand Prairie, TX 2
    • 3 beds 2 baths ∙ 2,155 Sqft ∙ Built 2001 3 beds 2 baths ∙ 2,155 Sqft ∙ Built 2001
    • Rent
    • Rent Per SQFT
    •  
    • $1,760
    • $0.82
    •  
  • 2459 Frontier Drive Grand Prairie, TX 1
    • 4 beds 2 baths ∙ 2,194 Sqft ∙ Built 2002 4 beds 2 baths ∙ 2,194 Sqft ∙ Built 2002
    LEASED 01/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.80
    •  
  • 3526 Sedona Drive Grand Prairie, TX 3
    • 4 beds 2 baths ∙ 2,162 Sqft ∙ Built 2001 4 beds 2 baths ∙ 2,162 Sqft ∙ Built 2001
    LEASED 10/10/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.83
    •  
  • 3355 Sedona Drive Grand Prairie, TX 4
    • 4 beds 2 baths ∙ 2,220 Sqft ∙ Built 2004 4 beds 2 baths ∙ 2,220 Sqft ∙ Built 2004
    LEASED 05/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.90
    •  
  • 2423 Lost Mesa Grand Prairie, TX 5
    • 4 beds 2 baths ∙ 2,355 Sqft ∙ Built 2003 4 beds 2 baths ∙ 2,355 Sqft ∙ Built 2003
    LEASED 07/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.89
    •  
PROPERTY LISTING DETAILS
Natalie Thonethao
Keller Williams Realty Dpr
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14418027
Last Updated: 08/22/2020
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