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4588 Mountain Laurel Drive Grand Prairie, TX 75052

4 Beds 4 Baths 3,600 sqft Built 2002

$380,000

List Price

$2,500

$2.3K - $2.8K

Rent Est.

PROPERTY INFO

January 08, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2002
  • Price/Sqft : $105.56
  • 3 Days on Market
  • MLS # : 14496036
  • Updated Date : 01/08/2021 at 17:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,600 sqft
  • Baths : 3 full , 1 half
Listing Agent

Century 21 Judge Fite Co.

Listing Agent's Description

Come see this amazing home on a cul-de-sac in the Westchester neighborhood. Soaring ceiling height throughout home. Large open concept would be wonderful for a large family and for entertaining. Speaking of entertaining, don't miss the waterfall pool in the backyard. Two living areas downstairs and a gameroom and media room upstairs give everyone their space. Huge master bedroom is downstairs and three good sized secondary bedrooms are upstairs. The three car garage is a tandum style, park three cars or use the third car space for a workshop or tons of storage. This location is ideal to get anywhere in the metroplex quickly. Come see this gem.

SEE MORE

MARKET HIGHLIGHTS

  • # 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)
  • . Dallas has 7th largest concentration of high-tech jobs in the U.S. (Dallas Chamber)

PRICE & RENT TRENDS

Neighborhood: Westchester Grove

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $109k311k

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

Neighborhood: Westchester Grove

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700180019002000210022002300Rent in $9592304

* 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
Garner Fine Arts Academy Primary Regular 761 46 8
Ronald W. Reagan Middle School Middle Regular 770 51 7
Dubiski Career High School High Regular 1,486 86 8

Garner Fine Arts Academy

  • Education Level: Primary
  • # of students: 761
  • # of teachers: 46
8
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

$2,250$2,750$2,500

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,500
EXPENSES Loan Payment -$1,320
Property Tax -$925
Property Insurance -$235
Property Management Fees -$99
CASH FLOW
-$79

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

$2,500

PROJECTED RENT

0.66%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 9.2%
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$1.2M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

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 60% 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

3.08

YEARS SAVED

$9,699

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,500

    LIST RENT
  • $0.69

    LIST RENT PER SQFT
  • $2,700

    COMP ESTIMATED VALUE
  • $0.75

    COMP AVG. RENT PER SQFT
Comps Range
$2,495
1$2,4952$2,5003$2,5004$2,800
$2,800
RENT COMPS ANALYSIS
  • 4588 Mountain Laurel Drive Grand Prairie, TX 3
    • 4 beds 4 baths ∙ 3,600 Sqft ∙ Built 2002 4 beds 4 baths ∙ 3,600 Sqft ∙ Built 2002
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.69
    •  
  • 549 Edgeview Drive Grand Prairie, TX 1
    • 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
    •  
  • 656 Links View Court Grand Prairie, TX 2
    • 3 beds 3 baths ∙ 3,286 Sqft ∙ Built 2005 3 beds 3 baths ∙ 3,286 Sqft ∙ Built 2005
    LEASED 03/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.76
    •  
  • 644 Jutland Drive Grand Prairie, TX 4
    • 4 beds 4 baths ∙ 3,577 Sqft ∙ Built 2010 4 beds 4 baths ∙ 3,577 Sqft ∙ Built 2010
    LEASED 03/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $0.78
    •  
PROPERTY LISTING DETAILS
Terri Woodward
Century 21 Judge Fite Co.
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14496036
Last Updated: 01/08/2021
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