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4430 Emerson Drive Grand Prairie, TX 75052

4 Beds 2 Baths 2,000 sqft Built 1984

$230,000

List Price

$1,800

$1.6K - $2K

Rent Est.

PROPERTY INFO

November 13, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1984
  • Price/Sqft : $115.00
  • 3 Days on Market
  • MLS # : 14470984
  • Updated Date : 11/13/2020 at 20:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,000 sqft
  • Baths : 2 full
Listing Agent

Exp Realty, Llc

Listing Agent's Description

This home features 4 bedrooms, 2 bathrooms, and a 2 car garage. It includes a large spacious living room, dining room and kitchen with an impressive open floor plan. Bathrooms are nicely upgraded including granite countertops and body showers, master bath includes a faux fireplace heater near the jetted tub area. It is conveniently located near Fish Creek Walking Trail, Joe Pool Lake, Paragon Premium Outlets, Epic Waters and Epic Central, Restaurants and Entertainment. Just minutes away from I-20 and Hwy 360. This home is priced to sell and is being sold as is.

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: Oak Hollow Grand Prairie

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240kPrice in $88k243k

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

Neighborhood: Oak Hollow Grand Prairie

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700Rent in $9451734

* 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
Starrett Elementary School Primary Regular 676 36 4
Barnett Junior High School Middle Regular 893 69 6
Bowie High School High Regular 3,053 194 5

Starrett Elementary School

  • Education Level: Primary
  • # of students: 676
  • # of teachers: 36
4
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
 

$207,000$253,000$230,000

PURCHASE PRICE

$1,620$1,980$1,800

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,800
EXPENSES Loan Payment -$849
Property Tax -$505
Property Insurance -$143
Property Management Fees -$99
CASH FLOW
$205

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.

$230,000

PROJECTED PRICE

$1,800

PROJECTED RENT

0.78%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.74%
Appreciation Year (1-5) 11.3%
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$1.0M

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

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$66,700

INVESTMENT

$66,700

Down Payment
$57,500
Rehab Estimate
$5,750
Closing Costs
$3,450

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$849

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $57,500
Loan Amount $172,500
See What Happens When You Reinvest Cash Flow

8.67

YEARS SAVED

$31,519

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,800

    LIST RENT
  • $0.9

    LIST RENT PER SQFT
  • $1,755

    COMP ESTIMATED VALUE
  • $0.88

    COMP AVG. RENT PER SQFT
Comps Range
$1,575
1$1,5752$1,6953$1,7504$1,8005$1,849
$1,849
RENT COMPS ANALYSIS
  • 4430 Emerson Drive Grand Prairie, TX 4
    • 4 beds 2 baths ∙ 2,000 Sqft ∙ Built 1984 4 beds 2 baths ∙ 2,000 Sqft ∙ Built 1984
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.90
    •  
  • 2621 Carrington Lane Grand Prairie, TX 1
    • 3 beds 2 baths ∙ 1,866 Sqft ∙ Built 1987 3 beds 2 baths ∙ 1,866 Sqft ∙ Built 1987
    LEASED 04/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,575
    • $0.84
    •  
  • 4414 Emerson Drive Grand Prairie, TX 2
    • 3 beds 3 baths ∙ 1,861 Sqft ∙ Built 1984 3 beds 3 baths ∙ 1,861 Sqft ∙ Built 1984
    LEASED 02/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.91
    •  
  • 4369 Hemingway Drive Grand Prairie, TX 3
    • 3 beds 2 baths ∙ 1,989 Sqft ∙ Built 1985 3 beds 2 baths ∙ 1,989 Sqft ∙ Built 1985
    LEASED 10/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.88
    •  
  • 2666 Steppington Street Grand Prairie, TX 5
    • 4 beds 3 baths ∙ 2,094 Sqft ∙ Built 1984 4 beds 3 baths ∙ 2,094 Sqft ∙ Built 1984
    LEASED 06/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,849
    • $0.88
    •  
PROPERTY LISTING DETAILS
Angelica Buentello
Exp Realty, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14470984
Last Updated: 11/13/2020
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