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5311 Penny Lane Grand Prairie, TX 75052

4 Beds 2 Baths 2,131 sqft Built 2006

$270,000

List Price

$1,990

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

December 11, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2006
  • Price/Sqft : $126.70
  • 3 Days on Market
  • MLS # : 14483566
  • Updated Date : 12/11/2020 at 14:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,131 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Urban Dallas

Listing Agent's Description

Come see this beautiful home located on a large corner lot! Tons of natural light, beautiful hardwoods, and ceramic tile with carpet in the bedrooms. Offering four bedrooms, 2 bathrooms, gorgeous kitchen, open living area and so much more! Large fenced yard is perfect for entertaining. This amazing home is ready for move-in. Close to shopping, Joe Pool Lake, Hwy 360, Hwy 161, and I-20. Schedule your showing today!...

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: Lakewood

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240kPrice in $109k258k

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

Neighborhood: Lakewood

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000110012001300140015001600170018001900Rent in $9591935

* 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
 

$243,000$297,000$270,000

PURCHASE PRICE

$1,791$2,189$1,990

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,990
EXPENSES Loan Payment -$996
Property Tax -$657
Property Insurance -$150
HOA -$30
Property Management Fees -$99
CASH FLOW
$57

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 14% of earned rent to cover both maintenance and periods of vacancy.

$270,000

PROJECTED PRICE

$1,990

PROJECTED RENT

0.74%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 10.6%
Maintenance Year (1-5) 8.00%
Vacancy 6.39%
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-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

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$77,300

INVESTMENT

$77,300

Down Payment
$67,500
Rehab Estimate
$5,750
Closing Costs
$4,050

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$996

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $67,500
Loan Amount $202,500
See What Happens When You Reinvest Cash Flow

5.33

YEARS SAVED

$18,156

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,990

    LIST RENT
  • $0.93

    LIST RENT PER SQFT
  • $1,987

    COMP ESTIMATED VALUE
  • $0.93

    COMP AVG. RENT PER SQFT
Comps Range
$1,750
1$1,7502$1,9503$1,9904$2,1005$2,200
$2,200
RENT COMPS ANALYSIS
  • 5311 Penny Lane Grand Prairie, TX 3
    • 4 beds 2 baths ∙ 2,131 Sqft ∙ Built 2006 4 beds 2 baths ∙ 2,131 Sqft ∙ Built 2006
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,990
    • $0.93
    •  
  • 5415 Sabine Lane Grand Prairie, TX 1
    • 4 beds 2 baths ∙ 1,943 Sqft ∙ Built 2005 4 beds 2 baths ∙ 1,943 Sqft ∙ Built 2005
    property image
    LEASED 06/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.90
    •  
  • 5204 Prairie Lane Grand Prairie, TX 2
    • 4 beds 2 baths ∙ 2,028 Sqft ∙ Built 2006 4 beds 2 baths ∙ 2,028 Sqft ∙ Built 2006
    property image
    LEASED 08/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.96
    •  
  • 5068 Kite Road Grand Prairie, TX 4
    • 4 beds 2 baths ∙ 2,319 Sqft ∙ Built 2014 4 beds 2 baths ∙ 2,319 Sqft ∙ Built 2014
    property image
    LEASED 08/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.91
    •  
  • 313 Burberry Grand Prairie, TX 5
    • 3 beds 2 baths ∙ 2,290 Sqft ∙ Built 2020 3 beds 2 baths ∙ 2,290 Sqft ∙ Built 2020
    property image
    LEASED 08/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.96
    •  
PROPERTY LISTING DETAILS
Linda Lunn
Keller Williams Urban Dallas
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14483566
Last Updated: 12/11/2020
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