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4902 Garden Grove Road Grand Prairie, TX 75052

3 Beds 3 Baths 1,986 sqft Built 1986

$265,000

List Price

$1,760

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 25, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1986
  • Price/Sqft : $133.43
  • 4 Days on Market
  • MLS # : 14521529
  • Updated Date : 02/25/2021 at 22:03
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,986 sqft
  • Baths : 2 full , 1 half
Listing Agent

Century 21 Mike Bowman, Inc.

Listing Agent's Description

***BEST AND FINAL OFFERS DUE BY 4PM SUNDAY, FEB 28*** You will love this charming 2-story corner lot home, minutes from highways and shopping. Home features wood-look tile throughout living and dining rooms. Kitchen with granite counters includes newly added backsplash. Energy efficient, 16-SEER AC with accompanying Lennox smart thermostat added 2018! Extra parking pad in driveway added for extra parking. Enjoy backyard cookouts and gatherings under the large covered patio. All new wood fence was added summer 2020. Bonus room off the garage can be used as an office, mudroom or for extra storage. Another bonus area at the top of the stairs can serve as kids play or tech area for homework or gaming.

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: Garden Oaks Grapevine

NeighborhoodNIR Market*CityMarket2010Year20002019110k120k130k140k150k160k170k180k190k200k210k220k230k240kPrice in $109k243k

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

Neighborhood: Garden Oaks Grapevine

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700Rent in $9591799

* 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
Barnett Junior High School Middle Regular 893 69 6
Bowie High School High Regular 3,053 194 5
Barnett Junior High School Middle Unknown NA

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

Barnett Junior High School

  • Education Level: Middle
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$238,500$291,500$265,000

PURCHASE PRICE

$1,584$1,936$1,760

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,760
EXPENSES Loan Payment -$920
Property Tax -$581
Property Insurance -$142
Property Management Fees -$99
CASH FLOW
$17

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.

$265,000

PROJECTED PRICE

$1,760

PROJECTED RENT

0.66%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 10.4%
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-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$75,975

INVESTMENT

$75,975

Down Payment
$66,250
Rehab Estimate
$5,750
Closing Costs
$3,975

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$920

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $66,250
Loan Amount $198,750
See What Happens When You Reinvest Cash Flow

4.58

YEARS SAVED

$12,489

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,760

    LIST RENT
  • $0.89

    LIST RENT PER SQFT
  • $1,777

    COMP ESTIMATED VALUE
  • $0.9

    COMP AVG. RENT PER SQFT
Comps Range
$1,650
1$1,6502$1,6953$1,7504$1,7605$1,849
$1,849
RENT COMPS ANALYSIS
  • 4902 Garden Grove Road Grand Prairie, TX 4
    • 3 beds 3 baths ∙ 1,986 Sqft ∙ Built 1986 3 beds 3 baths ∙ 1,986 Sqft ∙ Built 1986
    • Rent
    • Rent Per SQFT
    •  
    • $1,760
    • $0.89
    •  
  • 2324 Weyborn Drive Arlington, TX 1
    • 4 beds 3 baths ∙ 1,812 Sqft ∙ Built 1987 4 beds 3 baths ∙ 1,812 Sqft ∙ Built 1987
    LEASED 07/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.91
    •  
  • 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
Lia Karanian
Century 21 Mike Bowman, Inc.
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14521529
Last Updated: 02/25/2021
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