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4572 Jousting Lane Grand Prairie, TX 75052

4 Beds 3 Baths 2,616 sqft Built 1997

$335,000

List Price

$2,090

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

November 21, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1997
  • Price/Sqft : $128.06
  • 2 Days on Market
  • MLS # : 14475488
  • Updated Date : 11/21/2020 at 03:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,616 sqft
  • Baths : 2 full , 1 half
Listing Agent

Pinnacle Realty Advisors

Listing Agent's Description

Gorgeous elegant home located in highly desirable Castleridge at Westchester. Great home in a great neighborhood! Home features an open concept, high ceilings, crown molding, stone fireplace and more! Kitchen features an island and solid oak cabinets, breakfast bar and walk in pantry. The large master suite has a 3 large windows with window seat, master bath with separate sink areas and separate tub and shower plus large walk in closet. Upstairs living area for game room or play room. Huge backyard with spacious covered patio area. New roof, laminate flooring, and carpet! **New kitchen oven and appliance cabinet being installed** Great location close to I-20, parks and Joe Pool Lake!

SEE MORE

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: Castleridge at Westchester

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $109k336k

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

Neighborhood: Castleridge 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
Colin Powell Elementary School Primary Regular 546 32 9
Ronald W. Reagan Middle School Middle Regular 770 51 7
Dubiski Career High School High Regular 1,486 86 8

Colin Powell Elementary School

  • Education Level: Primary
  • # of students: 546
  • # of teachers: 32
9
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
 

$301,500$368,500$335,000

PURCHASE PRICE

$1,881$2,299$2,090

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,090
EXPENSES Loan Payment -$1,236
Property Tax -$816
Property Insurance -$178
HOA -$25
Property Management Fees -$99
CASH FLOW
-$264

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.

$335,000

PROJECTED PRICE

$2,090

PROJECTED RENT

0.62%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 6.6%
Maintenance Year (1-5) 8.00%
Vacancy 6.93%
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-$8.0k-$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$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$94,525

INVESTMENT

$94,525

Down Payment
$83,750
Rehab Estimate
$5,750
Closing Costs
$5,025

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$1,236

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $83,750
Loan Amount $251,250
See What Happens When You Reinvest Cash Flow

1.08

YEARS SAVED

$1,987

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,090

    LIST RENT
  • $0.8

    LIST RENT PER SQFT
  • $2,191

    COMP ESTIMATED VALUE
  • $0.84

    COMP AVG. RENT PER SQFT
Comps Range
$1,900
1$1,9002$2,0003$2,0904$2,2005$2,400
$2,400
RENT COMPS ANALYSIS
  • 4572 Jousting Lane Grand Prairie, TX 3
    • 4 beds 3 baths ∙ 2,616 Sqft ∙ Built 1997 4 beds 3 baths ∙ 2,616 Sqft ∙ Built 1997
    • Rent
    • Rent Per SQFT
    •  
    • $2,090
    • $0.80
    •  
  • 4321 Baldwin Street Grand Prairie, TX 1
    • 3 beds 3 baths ∙ 2,267 Sqft ∙ Built 1985 3 beds 3 baths ∙ 2,267 Sqft ∙ Built 1985
    LEASED 08/20/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.84
    •  
  • 4318 Clayton Street Grand Prairie, TX 2
    • 3 beds 3 baths ∙ 2,407 Sqft ∙ Built 1996 3 beds 3 baths ∙ 2,407 Sqft ∙ Built 1996
    LEASED 06/28/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.83
    •  
  • 604 Joy Dianne Drive Grand Prairie, TX 4
    • 5 beds 3 baths ∙ 2,672 Sqft ∙ Built 1999 5 beds 3 baths ∙ 2,672 Sqft ∙ Built 1999
    LEASED 07/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.82
    •  
  • 229 Commonwealth Circle Grand Prairie, TX 5
    • 5 beds 4 baths ∙ 2,776 Sqft ∙ Built 1990 5 beds 4 baths ∙ 2,776 Sqft ∙ Built 1990
    LEASED 08/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $0.86
    •  
PROPERTY LISTING DETAILS
Kathy Armstrong
Pinnacle Realty Advisors
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14475488
Last Updated: 11/21/2020
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