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5144 Welara Drive Grand Prairie, TX 75052

4 Beds 4 Baths 3,281 sqft Built 2006

$378,500

List Price

$2,430

$2.2K - $2.7K

Rent Est.

PROPERTY INFO

January 16, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2006
  • Price/Sqft : $115.36
  • 2 Days on Market
  • MLS # : 14500443
  • Updated Date : 01/16/2021 at 15:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,281 sqft
  • Baths : 3 full , 1 half
Listing Agent

Fathom Realty Llc

Listing Agent's Description

Spectacular, Move in ready 4 bedrooms 3.5 bath home in sought out neighborhood! This home is breath taking from the moment you enter the door. This home features a stunning staircase that compliments the entire home, wood flooring, tile and carpet, Fresh Paint, split bedroom floor plan, huge master bedroom downstairs with garden tub and separate shower, 2nd Master Bedroom upstairs, along with Game Room, and Media Room. Huge kitchen with exotic granite countertops, 6 Burner gas range, massive island, eat-in kitchen, separate Dining area, The location of this property is perfect for commuting to Dallas or Fort Worth.

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
 

$340,650$416,350$378,500

PURCHASE PRICE

$2,187$2,673$2,430

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,430
EXPENSES Loan Payment -$1,315
Property Tax -$921
Property Insurance -$217
HOA -$15
Property Management Fees -$99
CASH FLOW
-$137

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.

$378,500

PROJECTED PRICE

$2,430

PROJECTED RENT

0.64%

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-$8.0k-$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$106,053

INVESTMENT

$106,053

Down Payment
$94,625
Rehab Estimate
$5,750
Closing Costs
$5,678

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,315

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $94,625
Loan Amount $283,875
See What Happens When You Reinvest Cash Flow

2.33

YEARS SAVED

$6,499

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,430

    LIST RENT
  • $0.74

    LIST RENT PER SQFT
  • $2,403

    COMP ESTIMATED VALUE
  • $0.73

    COMP AVG. RENT PER SQFT
Comps Range
$2,095
1$2,0952$2,1953$2,4304$2,4955$2,800
$2,800
RENT COMPS ANALYSIS
  • 5144 Welara Drive Grand Prairie, TX 3
    • 4 beds 4 baths ∙ 3,281 Sqft ∙ Built 2006 4 beds 4 baths ∙ 3,281 Sqft ∙ Built 2006
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,430
    • $0.74
    •  
  • 318 Swallowtail Court Grand Prairie, TX 1
    • 3 beds 2 baths ∙ 2,974 Sqft ∙ Built 2001 3 beds 2 baths ∙ 2,974 Sqft ∙ Built 2001
    property image
    LEASED 01/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,095
    • $0.70
    •  
  • 4427 Malvern Hill Road Grand Prairie, TX 2
    • 5 beds 3 baths ∙ 2,979 Sqft ∙ Built 1999 5 beds 3 baths ∙ 2,979 Sqft ∙ Built 1999
    property image
    LEASED 12/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,195
    • $0.74
    •  
  • 549 Edgeview Drive Grand Prairie, TX 4
    • 4 beds 4 baths ∙ 3,500 Sqft ∙ Built 1997 4 beds 4 baths ∙ 3,500 Sqft ∙ Built 1997
    property image
    LEASED 05/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,495
    • $0.71
    •  
  • 644 Jutland Drive Grand Prairie, TX 5
    • 4 beds 4 baths ∙ 3,577 Sqft ∙ Built 2010 4 beds 4 baths ∙ 3,577 Sqft ∙ Built 2010
    property image
    LEASED 03/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $0.78
    •  
PROPERTY LISTING DETAILS
Wendy Barton
Fathom Realty Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14500443
Last Updated: 01/16/2021
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