Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

5104 Finnhorse Drive Grand Prairie, TX 75052

4 Beds 4 Baths 3,443 sqft Built 2005

$375,000

List Price

$2,450

$2.2K - $2.7K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 22, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2005
  • Price/Sqft : $108.92
  • 7 Days on Market
  • MLS # : 14505126
  • Updated Date : 02/27/2021 at 09:34
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,443 sqft
  • Baths : 3 full , 1 half
Listing Agent

Biggs Realty

Listing Agent's Description

Gorgeous builder's model on huge corner lot directly across from Exemplary Elementary School. So many living options in this 4 bed, 3.5 bath home with 3 living areas, private study with built-ins & a media room. Lots of built-in shelving & desks throughout. New roof & newer tankless water heater. Hardwood flooring throughout lower level. New carpet upstairs! Granite and stainless in kitchen. Oversized walk-in pantry & a butler's pantry! Master Bedroom down with separate vanities and huge walk-in shower and garden tub. Upstairs has a Jack & Jill bath and another full bath! Located near the shores of Joe Pool Lake! Survey available.

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: Polo Heights

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $109k336k

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

Neighborhood: Polo Heights

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001200140016001800200022002400Rent in $9592461

* 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
 

$337,500$412,500$375,000

PURCHASE PRICE

$2,205$2,695$2,450

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,450
EXPENSES Loan Payment -$1,303
Property Tax -$913
Property Insurance -$226
HOA -$15
Property Management Fees -$99
CASH FLOW
-$106

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.

$375,000

PROJECTED PRICE

$2,450

PROJECTED RENT

0.65%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 5.7%
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

PROJECTED ANNUAL CASH FLOW

11530-$6.0k-$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$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$105,125

INVESTMENT

$105,125

Down Payment
$93,750
Rehab Estimate
$5,750
Closing Costs
$5,625

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,303

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $93,750
Loan Amount $281,250
See What Happens When You Reinvest Cash Flow

2.5

YEARS SAVED

$7,916

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,450

    LIST RENT
  • $0.71

    LIST RENT PER SQFT
  • $2,502

    COMP ESTIMATED VALUE
  • $0.73

    COMP AVG. RENT PER SQFT
Comps Range
$2,175
1$2,1752$2,4503$2,4954$2,800
$2,800
RENT COMPS ANALYSIS
  • 5104 Finnhorse Drive Grand Prairie, TX 2
    • 4 beds 4 baths ∙ 3,443 Sqft ∙ Built 2005 4 beds 4 baths ∙ 3,443 Sqft ∙ Built 2005
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $0.71
    •  
  • 4222 Forestedge Drive Grand Prairie, TX 1
    • 4 beds 3 baths ∙ 3,155 Sqft ∙ Built 1999 4 beds 3 baths ∙ 3,155 Sqft ∙ Built 1999
    LEASED 06/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,175
    • $0.69
    •  
  • 549 Edgeview Drive Grand Prairie, TX 3
    • 4 beds 4 baths ∙ 3,500 Sqft ∙ Built 1997 4 beds 4 baths ∙ 3,500 Sqft ∙ Built 1997
    LEASED 05/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,495
    • $0.71
    •  
  • 644 Jutland Drive Grand Prairie, TX 4
    • 4 beds 4 baths ∙ 3,577 Sqft ∙ Built 2010 4 beds 4 baths ∙ 3,577 Sqft ∙ Built 2010
    LEASED 03/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $0.78
    •  
PROPERTY LISTING DETAILS
Colleen Howell
Biggs Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14505126
Last Updated: 02/27/2021
BESbswy