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4232 Fall Creek Drive Grand Prairie, TX 75052

4 Beds 2 Baths 2,255 sqft Built 2004

INVESTimate

$279,500

List Price

$1,900

$1,710 - $2,090

Rent Est.

$305,214  ( +9.20%)   1 YR EST. FORECAST

PROPERTY INFO

August 22, 2020 RECENTLY ADDED
FACTS
  • Built In 2004
  • Price/Sqft : $123.95
  • 6 Days on Market
  • MLS # : 14417843
  • Updated Date : 08/23/2020 at 12:07
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,255 sqft
  • Baths : 2 full
Listing Agent

Fathom Realty, Llc

Listing Agent's Description

Looking for a big backyard? This one story home in Enclave of Westchester has it! No HOA! Great curb appeal! Formal living and dining which were previously used as a home office, spacious kitchen with glass front cabinets open to the family room, celebrate the morning with a cup of coffee in the breakfast nook, master bedroom is tucked at the back of the house, master bath has large vanity, separate shower and garden tub. Secondary bedrooms are split with a full bath, Lots of natural light! Roof was replace in 2017. It’s such a great location close to I20 and shopping!

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: The Enclave at Westchester

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $109k336k

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

Neighborhood: The Enclave at Westchester

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100011001200130014001500160017001800190020002100Rent in $9592171

* 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
Harry S Truman Middle School Middle Regular 600 42 4
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

Harry S Truman Middle School

  • Education Level: Middle
  • # of students: 600
  • # of teachers: 42
4
GreatSchools Rating

Dubiski Career High School

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

$251,550$307,450$279,500

PURCHASE PRICE

$1,710$2,090$1,900

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

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

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,900
EXPENSES Loan Payment -$1,031
Property Tax -$680
Property Insurance -$158
Property Management Fees -$99
CASH FLOW
-$68

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.

$279,500

PROJECTED PRICE

$1,900

PROJECTED RENT

0.68%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 9.20%
Maintenance Year (1-5) 8.00%
Vacancy 6.93%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$79,818

INVESTMENT

$79,818

Down Payment
$69,875
Rehab Estimate
$5,750
Closing Costs
$4,193

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,031

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $69,875
Loan Amount $209,625
See What Happens When You Reinvest Cash Flow

3.25

YEARS SAVED

$9,006

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,900

    LIST RENT
  • $0.84

    LIST RENT PER SQFT
  • $1,889

    COMP ESTIMATED VALUE
  • $0.84

    COMP AVG. RENT PER SQFT
Comps Range
$1,850
1$1,8502$1,8653$1,9004$1,9905$1,995
$1,995
RENT COMPS ANALYSIS
  • 4232 Fall Creek Drive Grand Prairie, TX 3
    • 4 beds 2 baths ∙ 2,255 Sqft ∙ Built 2004 4 beds 2 baths ∙ 2,255 Sqft ∙ Built 2004
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.84
    •  
  • 129 Hanover Street Grand Prairie, TX 1
    • 3 beds 3 baths ∙ 2,201 Sqft ∙ Built 1995 3 beds 3 baths ∙ 2,201 Sqft ∙ Built 1995
    LEASED 12/11/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.84
    •  
  • 4430 Hanover Street Grand Prairie, TX 2
    • 4 beds 3 baths ∙ 2,269 Sqft ∙ Built 1995 4 beds 3 baths ∙ 2,269 Sqft ∙ Built 1995
    LEASED 07/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,865
    • $0.82
    •  
  • 1104 Gaines Mills Road Grand Prairie, TX 4
    • 4 beds 3 baths ∙ 2,389 Sqft ∙ Built 1999 4 beds 3 baths ∙ 2,389 Sqft ∙ Built 1999
    LEASED 07/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,990
    • $0.83
    •  
  • 4308 Rebecca Court Grand Prairie, TX 5
    • 4 beds 2 baths ∙ 2,316 Sqft ∙ Built 1999 4 beds 2 baths ∙ 2,316 Sqft ∙ Built 1999
    LEASED 01/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.86
    •  
PROPERTY LISTING DETAILS
Paula L. Turner
Fathom Realty, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14417843
Last Updated: 08/23/2020
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