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5807 Candlelight Lane Grand Prairie, TX 75052

5 Beds 4 Baths 3,129 sqft Built 2007

$385,000

List Price

$2,280

$2.1K - $2.5K

Rent Est.

PROPERTY INFO

January 28, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2007
  • Price/Sqft : $123.04
  • 4 Days on Market
  • MLS # : 14496900
  • Updated Date : 01/28/2021 at 10:44
CONSTRUCTION
  • Beds : 5
  • Floor Size : 3,129 sqft
  • Baths : 3 full , 1 half
Listing Agent

Exp Realty Llc

Listing Agent's Description

Home is loaded with so much storage with a Large Game Room, Study Room with french doors, huge Backyard with 2 large patios, 3 car garage (insulated), with spacious bedrooms. Ceramic tile in all wet areas, radiant barrer, and full Spinkler System. Come by and check this listing out!! Call or text agent for appointment.

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: Somerton Village

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $109k336k

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

Neighborhood: Somerton Village

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
Louise Cabaniss Elementary School Primary Regular 588 38 9
James Coble Middle School Middle Regular 884 55 7
Mansfield Timberview High School High Regular 1,657 94 5

Louise Cabaniss Elementary School

  • Education Level: Primary
  • # of students: 588
  • # of teachers: 38
9
GreatSchools Rating

James Coble Middle School

  • Education Level: Middle
  • # of students: 884
  • # of teachers: 55
7
GreatSchools Rating

Mansfield Timberview High School

  • Education Level: High
  • # of students: 1,657
  • # of teachers: 94
5
GreatSchools Rating
 

$346,500$423,500$385,000

PURCHASE PRICE

$2,052$2,508$2,280

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,280
EXPENSES Loan Payment -$1,337
Property Tax -$845
Property Insurance -$208
HOA -$30
Property Management Fees -$99
CASH FLOW
-$239

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.

$385,000

PROJECTED PRICE

$2,280

PROJECTED RENT

0.59%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 7.5%
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$1.2M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$107,775

INVESTMENT

$107,775

Down Payment
$96,250
Rehab Estimate
$5,750
Closing Costs
$5,775

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,337

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $96,250
Loan Amount $288,750
See What Happens When You Reinvest Cash Flow

1.42

YEARS SAVED

$3,058

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,280

    LIST RENT
  • $0.73

    LIST RENT PER SQFT
  • $2,245

    COMP ESTIMATED VALUE
  • $0.72

    COMP AVG. RENT PER SQFT
Comps Range
$2,125
1$2,1252$2,2003$2,2754$2,2805$2,400
$2,400
RENT COMPS ANALYSIS
  • 5807 Candlelight Lane Grand Prairie, TX 4
    • 5 beds 4 baths ∙ 3,129 Sqft ∙ Built 2007 5 beds 4 baths ∙ 3,129 Sqft ∙ Built 2007
    • Rent
    • Rent Per SQFT
    •  
    • $2,280
    • $0.73
    •  
  • 3040 Clemente Drive Grand Prairie, TX 1
    • 4 beds 3 baths ∙ 3,195 Sqft ∙ Built 2002 4 beds 3 baths ∙ 3,195 Sqft ∙ Built 2002
    LEASED 11/06/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,125
    • $0.67
    •  
  • 5343 Maverick Drive Grand Prairie, TX 2
    • 5 beds 4 baths ∙ 3,334 Sqft ∙ Built 2004 5 beds 4 baths ∙ 3,334 Sqft ∙ Built 2004
    LEASED 12/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.66
    •  
  • 2784 Sweetbriar Lane Grand Prairie, TX 3
    • 5 beds 4 baths ∙ 2,869 Sqft ∙ Built 2005 5 beds 4 baths ∙ 2,869 Sqft ∙ Built 2005
    LEASED 02/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,275
    • $0.79
    •  
  • 3035 Cesareo Drive Grand Prairie, TX 5
    • 4 beds 3 baths ∙ 3,202 Sqft ∙ Built 2001 4 beds 3 baths ∙ 3,202 Sqft ∙ Built 2001
    LEASED 07/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $0.75
    •  
PROPERTY LISTING DETAILS
Joseph Rodriguez
Exp Realty Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14496900
Last Updated: 01/28/2021
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