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PROPERTY INFO
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
- . 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
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Garden Oaks Grapevine
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
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
| 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
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$75,975
LOAN DETAILS
$920
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $66,250 |
| Loan Amount | $198,750 |
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
-
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
Century 21 Mike Bowman, Inc.
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
MLS #: 14521529
Last Updated: 02/25/2021
