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4736 Madison Drive Grand Prairie, TX 75052

4 Beds 3 Baths 2,452 sqft Built 2001

$299,000

List Price

$2,010

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

November 16, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2001
  • Price/Sqft : $121.94
  • 7 Days on Market
  • MLS # : 14471934
  • Updated Date : 11/16/2020 at 02:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,452 sqft
  • Baths : 2 full , 1 half
Listing Agent

Re/max Preferred Associates

Listing Agent's Description

Updated and ready for new owners! Beautiful kitchen with granite countertops, updated cabinets and backsplash, plus stainless steel appliances. Upgrades include carpet and luxury plank flooring. Roof, AC compressor, and fence were replaced in 2017. Pool with water feature and pergola provide a great entertaining space. Backyard is beautifully landscaped and spacious! Close to Joe Pool Lake, shopping and major highway.

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: Westchester Square

NeighborhoodNIR Market*CityMarket2010Year20002019110k120k130k140k150k160k170k180k190k200k210k220k230k240kPrice in $109k245k

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

Neighborhood: Westchester Square

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700Rent in $9591786

* 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
Harry S Truman Middle School Middle Regular 600 42 4
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

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
 

$269,100$328,900$299,000

PURCHASE PRICE

$1,809$2,211$2,010

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,010
EXPENSES Loan Payment -$1,103
Property Tax -$728
Property Insurance -$169
Property Management Fees -$99
CASH FLOW
-$89

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.

$299,000

PROJECTED PRICE

$2,010

PROJECTED RENT

0.67%

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

PROJECTED ANNUAL CASH FLOW

11530-$6.0k-$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$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$84,985

INVESTMENT

$84,985

Down Payment
$74,750
Rehab Estimate
$5,750
Closing Costs
$4,485

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,103

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $74,750
Loan Amount $224,250
See What Happens When You Reinvest Cash Flow

3

YEARS SAVED

$8,603

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,010

    LIST RENT
  • $0.82

    LIST RENT PER SQFT
  • $2,078

    COMP ESTIMATED VALUE
  • $0.85

    COMP AVG. RENT PER SQFT
Comps Range
$1,865
1$1,8652$1,9903$1,9954$2,0105$2,100
$2,100
RENT COMPS ANALYSIS
  • 4736 Madison Drive Grand Prairie, TX 4
    • 4 beds 3 baths ∙ 2,452 Sqft ∙ Built 2001 4 beds 3 baths ∙ 2,452 Sqft ∙ Built 2001
    • Rent
    • Rent Per SQFT
    •  
    • $2,010
    • $0.82
    •  
  • 4430 Hanover Street Grand Prairie, TX 1
    • 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 2
    • 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 3
    • 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
    •  
  • 4507 Harpers Ferry Drive Grand Prairie, TX 5
    • 4 beds 3 baths ∙ 2,379 Sqft ∙ Built 1998 4 beds 3 baths ∙ 2,379 Sqft ∙ Built 1998
    LEASED 09/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.88
    •  
PROPERTY LISTING DETAILS
Diana Escamilla
Re/max Preferred Associates
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14471934
Last Updated: 11/16/2020
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