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4847 Kingsway Drive Grand Prairie, TX 75052

4 Beds 3 Baths 2,796 sqft Built 2000

$275,000

List Price

$2,330

$2.1K - $2.6K

Rent Est.

PROPERTY INFO

FACTS
  • Built In 2000
  • Price/Sqft : $98.35
  • 11 Days on Market
  • MLS # : 14459730
  • Updated Date : 10/24/2020 at 20:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,796 sqft
  • Baths : 2 full , 1 half
Listing Agent

Banko Realty

Listing Agent's Description

Absolutely gorgeous 4 bedrooms with 2.5 baths and a 2-car front entry garage. The master bedroom is downstairs, but the others are upstairs. Has 2 living and 2 dining areas. The fireplace has a gas starter, there are plenty of ceiling fans and there are beautiful hardwood floors in the front living and dining areas. The house just got brand new Roof, brand new fence and the AC system just got service.

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: Kingswood Forest

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $109k336k

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

Neighborhood: Kingswood Forest

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
West Elementary School Primary Regular 779 42 6
Barnett Junior High School Middle Regular 893 69 6
Bowie High School High Regular 3,053 194 5

West Elementary School

  • Education Level: Primary
  • # of students: 779
  • # of teachers: 42
6
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
 

$247,500$302,500$275,000

PURCHASE PRICE

$2,097$2,563$2,330

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,330
EXPENSES Loan Payment -$1,015
Property Tax -$613
Property Insurance -$189
Property Management Fees -$99
CASH FLOW
$415

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.

$275,000

PROJECTED PRICE

$2,330

PROJECTED RENT

0.85%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 8.9%
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$1.2M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$78,625

INVESTMENT

$78,625

Down Payment
$68,750
Rehab Estimate
$5,750
Closing Costs
$4,125

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% down payment or higher enables the proceeds from the asset to cover all costs.

$1,015

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $68,750
Loan Amount $206,250
See What Happens When You Reinvest Cash Flow

11.58

YEARS SAVED

$57,125

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,330

    LIST RENT
  • $0.83

    LIST RENT PER SQFT
  • $2,349

    COMP ESTIMATED VALUE
  • $0.84

    COMP AVG. RENT PER SQFT
Comps Range
$2,195
1$2,1952$2,2003$2,3304$2,3505$2,600
$2,600
RENT COMPS ANALYSIS
  • 4847 Kingsway Drive Grand Prairie, TX 3
    • 4 beds 3 baths ∙ 2,796 Sqft ∙ Built 2000 4 beds 3 baths ∙ 2,796 Sqft ∙ Built 2000
    • Rent
    • Rent Per SQFT
    •  
    • $2,330
    • $0.83
    •  
  • 4550 Saint Andrews Drive Grand Prairie, TX 1
    • 4 beds 3 baths ∙ 2,867 Sqft ∙ Built 1996 4 beds 3 baths ∙ 2,867 Sqft ∙ Built 1996
    LEASED 10/04/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,195
    • $0.77
    •  
  • 2216 Harrier Street Grand Prairie, TX 2
    • 4 beds 3 baths ∙ 2,724 Sqft ∙ Built 2012 4 beds 3 baths ∙ 2,724 Sqft ∙ Built 2012
    LEASED 09/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.81
    •  
  • 4951 Marsh Harrier Avenue Grand Prairie, TX 4
    • 3 beds 2 baths ∙ 2,734 Sqft ∙ Built 2006 3 beds 2 baths ∙ 2,734 Sqft ∙ Built 2006
    LEASED 12/06/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $0.86
    •  
  • 2723 Excalibur Drive Grand Prairie, TX 5
    • 4 beds 3 baths ∙ 2,831 Sqft ∙ Built 2000 4 beds 3 baths ∙ 2,831 Sqft ∙ Built 2000
    LEASED 08/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $0.92
    •  
PROPERTY LISTING DETAILS
Lounceny Nabe
Banko Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14459730
Last Updated: 10/24/2020
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