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506 Moorgate Court Grand Prairie, TX 75052

3 Beds 2 Baths 2,170 sqft Built 1998

INVESTimate

$262,500

List Price

$1,950

$1,755 - $2,145

Rent Est.

$279,773  ( +6.58%)   1 YR EST. FORECAST

PROPERTY INFO

August 23, 2020 RECENTLY ADDED
FACTS
  • Built In 1998
  • Price/Sqft : $120.97
  • 4 Days on Market
  • MLS # : 14418755
  • Updated Date : 08/25/2020 at 16:18
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,170 sqft
  • Baths : 2 full
Listing Agent

The Williams Agency

Listing Agent's Description

Whoa! Look at the size of this master suite with bay windowed sitting area!!! Well-loved & carefully maintained phenomenal 3 bedroom, 3 living area, 2 bath with a master suite of your dreams!! The backyard is absolutely enchanting with space for gardening and play, along with the perfect pool and spa. Covered patio and two dining areas with cast stone fireplace make this home simply amazing. Bring your decorator's touch to customize it to your desires. Nearby malls and luxury retailers, parks, Six Flags, AT&T center, Ranger's ballpark and playgrounds complete the lifestyle experience that is Castleridge at Westchester. Transferrable AHS home warranty offered. Refrigerator negotiable with acceptable offer.

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: Castleridge at Westchester

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $109k336k

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

Neighborhood: Castleridge at Westchester

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
Colin Powell Elementary School Primary Regular 546 32 9
Ronald W. Reagan Middle School Middle Regular 770 51 7
Dubiski Career High School High Regular 1,486 86 8

Colin Powell Elementary School

  • Education Level: Primary
  • # of students: 546
  • # of teachers: 32
9
GreatSchools Rating

Ronald W. Reagan Middle School

  • Education Level: Middle
  • # of students: 770
  • # of teachers: 51
7
GreatSchools Rating

Dubiski Career High School

  • Education Level: High
  • # of students: 1,486
  • # of teachers: 86
8
GreatSchools Rating
 

$236,250$288,750$262,500

PURCHASE PRICE

$1,755$2,145$1,950

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$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$100k$200k$300k$400k$500k$600k$700k$800k

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,950
EXPENSES Loan Payment -$969
Property Tax -$660
Property Insurance -$153
HOA -$25
Property Management Fees -$99
CASH FLOW
$45

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.

$262,500

PROJECTED PRICE

$1,950

PROJECTED RENT

0.74%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 6.58%
Maintenance Year (1-5) 8.00%
Vacancy 6.93%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$75,313

INVESTMENT

$75,313

Down Payment
$65,625
Rehab Estimate
$5,750
Closing Costs
$3,938

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$969

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $65,625
Loan Amount $196,875
See What Happens When You Reinvest Cash Flow

5.08

YEARS SAVED

$16,383

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,950

    LIST RENT
  • $0.9

    LIST RENT PER SQFT
  • $2,018

    COMP ESTIMATED VALUE
  • $0.93

    COMP AVG. RENT PER SQFT
Comps Range
$1,895
1$1,8952$1,9503$1,9954$2,0755$2,200
$2,200
RENT COMPS ANALYSIS
  • 506 Moorgate Court Grand Prairie, TX 2
    • 3 beds 2 baths ∙ 2,170 Sqft ∙ Built 1998 3 beds 2 baths ∙ 2,170 Sqft ∙ Built 1998
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.90
    •  
  • 108 Mary Pat Drive Grand Prairie, TX 1
    • 3 beds 2 baths ∙ 2,200 Sqft ∙ Built 1999 3 beds 2 baths ∙ 2,200 Sqft ∙ Built 1999
    property image
    LEASED 08/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.86
    •  
  • 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
    property image
    LEASED 01/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.86
    •  
  • 4448 Newport Street Grand Prairie, TX 4
    • 4 beds 3 baths ∙ 2,050 Sqft ∙ Built 1986 4 beds 3 baths ∙ 2,050 Sqft ∙ Built 1986
    property image
    LEASED 12/09/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,075
    • $1.01
    •  
  • 147 Summit Court Grand Prairie, TX 5
    • 4 beds 3 baths ∙ 2,229 Sqft ∙ Built 1987 4 beds 3 baths ∙ 2,229 Sqft ∙ Built 1987
    property image
    LEASED 08/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.99
    •  
PROPERTY LISTING DETAILS
Nicole Williams
The Williams Agency
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14418755
Last Updated: 08/25/2020
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