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4916 Marsh Harrier Avenue Grand Prairie, TX 75052

3 Beds 2 Baths 2,093 sqft Built 2005

$315,000

List Price

$1,890

$1.7K - $2.1K

Rent Est.

$89,225

Investment Est.

PROPERTY INFO

SINGLE-FAMILY
February 20, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2005
  • Price/Sqft : $150.50
  • 3 Days on Market
  • MLS # : 14518728
  • Updated Date : 02/19/2021 at 20:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,093 sqft
  • Baths : 2 full
Listing Agent

Jp & Associates Rockwall

Listing Agent's Description

Step inside this wonderful remodeled home! As you enter, you will find an open kitchen and living room area with a media room and dining room adjacent. Modern touches of lighting and design will be found throughout the home. The completely remodeled open concept kitchen is an entertainers dream! After a long day, be sure to enjoy a the oversized rain shower head in the master bathroom as you won't find many like it! Located just minutes from Ikea and other major development, this home will not last long!

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MARKET HIGHLIGHTS

Dallas Market Report
  • 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: High Hawk at Martin's Meadow

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $109k333k

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

Neighborhood: High Hawk at Martin's Meadow

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001200140016001800200022002400Rent in $9592495

* 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
 

FINANCIALS

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$283,500$346,500$315,000

PURCHASE PRICE

$1,701$2,079$1,890

RENT

DOWN PAYMENT
FINANCING
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FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,890
EXPENSES Loan Payment -$1,094
Property Tax -$691
Property Insurance -$148
HOA -$13
Property Management Fees -$99
CASH FLOW
-$155

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.

$315,000

PROJECTED PRICE

$1,890

PROJECTED RENT

0.60%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 5.3%
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$100k$200k$300k$400k$500k$600k$700k$800k$900k

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$100k$200k$300k$400k$500k$600k$700k$800k$900k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$89,225

INVESTMENT

$89,225

Down Payment		 $78,750
Rehab Estimate		 $5,750
Closing Costs		 $4,725

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$1,094

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $78,750
Loan Amount $236,250
See What Happens When You Reinvest Cash Flow

2

YEARS SAVED

$4,305

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,890

    LIST RENT

  • $0.9

    LIST RENT PER SQFT

  • $2,035

    COMP ESTIMATED VALUE

  • $0.97

    COMP AVG. RENT PER SQFT
Comps Range
$1,890
1$1,8902$2,0003$2,1004$2,1005$2,195
$2,195
RENT COMPS ANALYSIS
  • 4916 Marsh Harrier Avenue Grand Prairie, TX 1
    • 3 beds 2 baths ∙ 2,093 Sqft ∙ Built 2005 3 beds 2 baths ∙ 2,093 Sqft ∙ Built 2005
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,890
    • $0.90
    •  
  • 4935 Screech Owl Lane Grand Prairie, TX 2
    • 4 beds 2 baths ∙ 2,113 Sqft ∙ Built 2006 4 beds 2 baths ∙ 2,113 Sqft ∙ Built 2006
    property image
    LEASED 05/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.95
    •  
  • 4927 Marsh Harrier Avenue Grand Prairie, TX 3
    • 4 beds 2 baths ∙ 2,113 Sqft ∙ Built 2006 4 beds 2 baths ∙ 2,113 Sqft ∙ Built 2006
    property image
    LEASED 05/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.99
    •  
  • 2356 San Augustine Lane Grand Prairie, TX 4
    • 3 beds 2 baths ∙ 2,148 Sqft ∙ Built 2011 3 beds 2 baths ∙ 2,148 Sqft ∙ Built 2011
    property image
    LEASED 09/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.98
    •  
  • 2364 Collin Drive Grand Prairie, TX 5
    • 4 beds 2 baths ∙ 2,253 Sqft ∙ Built 2010 4 beds 2 baths ∙ 2,253 Sqft ∙ Built 2010
    property image
    LEASED 07/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,195
    • $0.97
    •  
PROPERTY LISTING DETAILS
LISTING AGENT
Jaklyn Mckenna
Jp & Associates Rockwall
BUYER AGENT
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
SOURCE
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14518728
Last Updated: 02/19/2021

All returns, cash flow, and appreciation estimates are projections. Please review our Disclaimer for more information.

All values are rounded to the nearest dollar.
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