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5221 Noble Lane Grand Prairie, TX 75052

4 Beds 3 Baths 2,381 sqft Built 2020

$375,000

List Price

$2,180

$2K - $2.4K

Rent Est.

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
December 05, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2020
  • Price/Sqft : $157.50
  • 2 Days on Market
  • MLS # : 14481564
  • Updated Date : 12/04/2020 at 20:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,381 sqft
  • Baths : 3 full
Listing Agent

Fathom Realty

Listing Agent's Description

New Construction by Royal Family Homes at the heart of Grand Prairie. This semi-custom 1 story home features 4 beds, 3 baths and has 10 ft ceilings throughout. Open concept living with wood look tile in the living areas. The kitchen boasts upgraded white cabinets, granite counters and SS appliances. The owners suite is tucked in for privacy with double vanities and an oversized shower in the attached bathroom. Multi-generational living with an additional bed with attached bath at the front of the house. Upgrades galore include foam insulation, Low E windows, full sprinkler system, mud room, recessed lighting, sink in utility and much more. End of December completion. Homes in the neighborhood start at $350K.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • . 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)

PRICE & RENT TRENDS

Neighborhood: Trailwood

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240kPrice in $88k243k

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

Neighborhood: Trailwood

NeighborhoodNIR Market*CityMarket2010Year20002019 Q290010001100120013001400150016001700Rent in $8931734

* 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
Moseley Elementary School Primary Regular 618 38 6
Harry S Truman Middle School Middle Regular 600 42 4
Dubiski Career High School High Regular 1,486 86 8

Moseley Elementary School

  • Education Level: Primary
  • # of students: 618
  • # of teachers: 38
6
GreatSchools Rating

Harry S Truman Middle School

  • Education Level: Middle
  • # of students: 600
  • # of teachers: 42
4
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

$1,962$2,398$2,180

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,180
EXPENSES Loan Payment -$1,384
Property Tax -$913
Property Insurance -$165
HOA -$50
Property Management Fees -$99
CASH FLOW
-$430

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 10% of earned rent to cover both maintenance and periods of vacancy.

$375,000

PROJECTED PRICE

$2,180

PROJECTED RENT

0.58%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.74%
Appreciation Year (1-5) 12.2%
Maintenance Year (1-5) 3.00%
Vacancy 6.69%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

PROJECTED ANNUAL CASH FLOW

11530-$10k-$8.0k-$6.0k-$4.0k-$2.0k$0.0$2.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$101,375

INVESTMENT

$101,375

Down Payment
$93,750
Rehab Estimate
$2,000
Closing Costs
$5,625

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$1,384

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $93,750
Loan Amount $281,250
See What Happens When You Reinvest Cash Flow

0.25

YEARS SAVED

$220

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,180

    LIST RENT
  • $0.92

    LIST RENT PER SQFT
  • $2,161

    COMP ESTIMATED VALUE
  • $0.91

    COMP AVG. RENT PER SQFT
Comps Range
$1,995
1$1,9952$2,1003$2,1804$2,1955$2,200
$2,200
RENT COMPS ANALYSIS
  • 5221 Noble Lane Grand Prairie, TX 3
    • 4 beds 3 baths ∙ 2,381 Sqft ∙ Built 2020 4 beds 3 baths ∙ 2,381 Sqft ∙ Built 2020
    • Rent
    • Rent Per SQFT
    •  
    • $2,180
    • $0.92
    •  
  • 2203 Terrell Drive Grand Prairie, TX 1
    • 4 beds 3 baths ∙ 2,502 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,502 Sqft ∙ Built 2005
    LEASED 01/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.80
    •  
  • 5068 Kite Road Grand Prairie, TX 2
    • 4 beds 2 baths ∙ 2,319 Sqft ∙ Built 2014 4 beds 2 baths ∙ 2,319 Sqft ∙ Built 2014
    LEASED 08/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.91
    •  
  • 2364 Collin Drive Grand Prairie, TX 4
    • 4 beds 2 baths ∙ 2,253 Sqft ∙ Built 2010 4 beds 2 baths ∙ 2,253 Sqft ∙ Built 2010
    LEASED 07/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,195
    • $0.97
    •  
  • 2323 Tawny Owl Road Grand Prairie, TX 5
    • 4 beds 2 baths ∙ 2,313 Sqft ∙ Built 2014 4 beds 2 baths ∙ 2,313 Sqft ∙ Built 2014
    LEASED 06/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.95
    •  
PROPERTY LISTING DETAILS
Sakina Ismaelbay
Fathom Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14481564
Last Updated: 12/04/2020
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