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4232 Adam Drive Grand Prairie, TX 75052

5 Beds 3 Baths 3,445 sqft Built 1999

$380,000

List Price

$2,170

$2K - $2.4K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 06, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1999
  • Price/Sqft : $110.30
  • 2 Days on Market
  • MLS # : 14527901
  • Updated Date : 03/06/2021 at 09:10
CONSTRUCTION
  • Beds : 5
  • Floor Size : 3,445 sqft
  • Baths : 3 full
Listing Agent

Exp Realty, Llc

Listing Agent's Description

Beautiful open concept. High vaulted ceilings. Large corner lot. Brand new roof. Very well kept and maintained. Half bath downstairs was converted to full bath. The neighborhood has an HOA but the property was built before the HOA was created and is grandfathered in to not have an HOA fee. Buyer pays for a new survey. Please submit offer with APPRAISAL WAIVER. Please title offer in the subject line as: **OFFER - 4232 Adam Dr - MLS# 14527901 - REALTOR: (Your name here) - BUYER: (Buyers name)***

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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: Westchester Meadow

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280kPrice in $109k292k

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

Neighborhood: Westchester Meadow

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100011001200130014001500160017001800190020002100Rent in $9592137

* 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
Florence Hill Elementary School Primary Regular 525 33 6
Ronald W. Reagan Middle School Middle Regular 770 51 7
Dubiski Career High School High Regular 1,486 86 8

Florence Hill Elementary School

  • Education Level: Primary
  • # of students: 525
  • # of teachers: 33
6
GreatSchools Rating

Ronald W. Reagan Middle School

  • Education Level: Middle
  • # of students: 770
  • # of teachers: 51
7
GreatSchools Rating

Dubiski Career High School

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

$342,000$418,000$380,000

PURCHASE PRICE

$1,953$2,387$2,170

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,170
EXPENSES Loan Payment -$1,320
Property Tax -$925
Property Insurance -$223
Property Management Fees -$99
CASH FLOW
-$397

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 14% of earned rent to cover both maintenance and periods of vacancy.

$380,000

PROJECTED PRICE

$2,170

PROJECTED RENT

0.57%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 6.0%
Maintenance Year (1-5) 8.00%
Vacancy 6.39%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

11530-$10k-$8.0k-$6.0k-$4.0k-$2.0k$0.0$2.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$106,450

INVESTMENT

$106,450

Down Payment
$95,000
Rehab Estimate
$5,750
Closing Costs
$5,700

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 75% down payment or higher enables the proceeds from the asset to cover all costs.

$1,320

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $95,000
Loan Amount $285,000
See What Happens When You Reinvest Cash Flow

0.33

YEARS SAVED

$258

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,170

    LIST RENT
  • $0.64

    LIST RENT PER SQFT
  • $2,342

    COMP ESTIMATED VALUE
  • $0.69

    COMP AVG. RENT PER SQFT
Comps Range
$2,170
1$2,1702$2,1753$2,3504$2,495
$2,495
RENT COMPS ANALYSIS
  • 4232 Adam Drive Grand Prairie, TX 1
    • 5 beds 3 baths ∙ 3,394 Sqft ∙ Built 1999 5 beds 3 baths ∙ 3,394 Sqft ∙ Built 1999
    • Rent
    • Rent Per SQFT
    •  
    • $2,170
    • $0.64
    •  
  • 4222 Forestedge Drive Grand Prairie, TX 2
    • 4 beds 3 baths ∙ 3,155 Sqft ∙ Built 1999 4 beds 3 baths ∙ 3,155 Sqft ∙ Built 1999
    LEASED 06/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,175
    • $0.69
    •  
  • 4435 Westchester Glen Drive Grand Prairie, TX 3
    • 5 beds 3 baths ∙ 3,483 Sqft ∙ Built 2001 5 beds 3 baths ∙ 3,483 Sqft ∙ Built 2001
    LEASED 08/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $0.67
    •  
  • 549 Edgeview Drive Grand Prairie, TX 4
    • 4 beds 4 baths ∙ 3,500 Sqft ∙ Built 1997 4 beds 4 baths ∙ 3,500 Sqft ∙ Built 1997
    LEASED 05/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,495
    • $0.71
    •  
PROPERTY LISTING DETAILS
William Bush
Exp Realty, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14527901
Last Updated: 03/06/2021
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