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523 Cooper Street Grand Prairie, TX 75052

3 Beds 3 Baths 2,221 sqft Built 1985

$300,000

List Price

$1,910

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

November 13, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1985
  • Price/Sqft : $135.07
  • 3 Days on Market
  • MLS # : 14468584
  • Updated Date : 11/13/2020 at 22:57
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,221 sqft
  • Baths : 2 full , 1 half
Listing Agent

Keller Williams Arlington

Listing Agent's Description

Just in time for the holidays, ready to go. Heated salt water pool. Kitchen updates provide welcoming space for your family chef to prepare traditional delights. Gas stove, updated cabinets, breakfast bar, & an abundance of counter & storage. Serve guests on special occasions in the formal dining room. A 1st floor master retreat with en suite luxury bath. Living areas with rich wood floors & vaulted ceiling opening up a spacious, light & bright living room. Gather round the decorative brick fireplace with gas logs. 1st floor bonus space could be used as an office, exercise room or 2nd living area. Just minutes from I-20 & 25 min. to Dallas. 3.5 miles from Joe Pool Lake. Top rated Colin Powell Elementary.

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: Westchester

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $109k336k

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

Neighborhood: 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
 

$270,000$330,000$300,000

PURCHASE PRICE

$1,719$2,101$1,910

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,910
EXPENSES Loan Payment -$1,107
Property Tax -$730
Property Insurance -$156
HOA -$3
Property Management Fees -$99
CASH FLOW
-$185

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.

$300,000

PROJECTED PRICE

$1,910

PROJECTED RENT

0.64%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 9.5%
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

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$85,250

INVESTMENT

$85,250

Down Payment
$75,000
Rehab Estimate
$5,750
Closing Costs
$4,500

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,107

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $75,000
Loan Amount $225,000
See What Happens When You Reinvest Cash Flow

1.58

YEARS SAVED

$3,467

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,910

    LIST RENT
  • $0.86

    LIST RENT PER SQFT
  • $1,938

    COMP ESTIMATED VALUE
  • $0.87

    COMP AVG. RENT PER SQFT
Comps Range
$1,850
1$1,8502$1,8953$1,9104$1,9955$2,195
$2,195
RENT COMPS ANALYSIS
  • 523 Cooper Street Grand Prairie, TX 3
    • 3 beds 3 baths ∙ 2,221 Sqft ∙ Built 1985 3 beds 3 baths ∙ 2,221 Sqft ∙ Built 1985
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,910
    • $0.86
    •  
  • 120 Mary Pat Drive Grand Prairie, TX 1
    • 4 beds 2 baths ∙ 2,221 Sqft ∙ Built 1999 4 beds 2 baths ∙ 2,221 Sqft ∙ Built 1999
    property image
    LEASED 11/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.83
    •  
  • 108 Mary Pat Drive Grand Prairie, TX 2
    • 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 4
    • 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
    •  
  • 513 Edgeview Drive Grand Prairie, TX 5
    • 4 beds 2 baths ∙ 2,324 Sqft ∙ Built 1997 4 beds 2 baths ∙ 2,324 Sqft ∙ Built 1997
    property image
    LEASED 06/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,195
    • $0.94
    •  
PROPERTY LISTING DETAILS
Joan Blinn
Keller Williams Arlington
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14468584
Last Updated: 11/13/2020
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