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618 5th Street Grand Prairie, TX 75051

4 Beds 3 Baths 2,003 sqft Built 2020

$294,900

List Price

$1,520

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
December 25, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2020
  • Price/Sqft : $147.23
  • 3 Days on Market
  • MLS # : 14490452
  • Updated Date : 12/26/2020 at 07:56
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,003 sqft
  • Baths : 2 full , 1 half
Listing Agent

Milenio Real Estate Inc

Listing Agent's Description

BEAUTIFUL NEW CONSTRUCTION HOME IN GRAND PRAIRIE TX!! This home features an open design floor plan with energy efficient windows throughout the house. This new home features 2,003 sq ft, 4 bedrooms, 2.5 bathrooms, and a 2 car garage with covered back patio. Spacious living room with natural lighting. It features crown molding and wood flooring. Gorgeous kitchen with granite counter tops, stainless steel appliances, and custom tall cabinets. Master bedroom includes a walk in shower, double vanity, and a large walk in closet with built-in shelves. Close to major highways. Come check out this newly built home before its gone!!

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: Indian Hills

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240kPrice in $62k243k

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

Neighborhood: Indian Hills

NeighborhoodNIR Market*CityMarket2010Year20002019 Q270080090010001100120013001400150016001700Rent in $6501734

* 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
Bowie Elementary School Primary Regular 435 30 4
Young Mens Leadership Academy At Kennedy Middle School Middle Regular 895 64 NA
Dubiski Career High School High Regular 1,486 86 8

Bowie Elementary School

  • Education Level: Primary
  • # of students: 435
  • # of teachers: 30
4
GreatSchools Rating

Young Mens Leadership Academy At Kennedy Middle School

  • Education Level: Middle
  • # of students: 895
  • # of teachers: 64
NA
GreatSchools Rating

Dubiski Career High School

  • Education Level: High
  • # of students: 1,486
  • # of teachers: 86
8
GreatSchools Rating
 

$265,410$324,390$294,900

PURCHASE PRICE

$1,368$1,672$1,520

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,520
EXPENSES Loan Payment -$1,088
Property Tax -$718
Property Insurance -$143
Property Management Fees -$99
CASH FLOW
-$528

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.

$294,900

PROJECTED PRICE

$1,520

PROJECTED RENT

0.52%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.74%
Appreciation Year (1-5) 13.1%
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

PROJECTED ANNUAL CASH FLOW

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

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$80,149

INVESTMENT

$80,149

Down Payment
$73,725
Rehab Estimate
$2,000
Closing Costs
$4,424

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 80% down payment or higher enables the proceeds from the asset to cover all costs.

$1,088

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $73,725
Loan Amount $221,175
See What Happens When You Reinvest Cash Flow

-0.08

YEARS SAVED

-$11

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,520

    LIST RENT
  • $0.76

    LIST RENT PER SQFT
  • $1,943

    COMP ESTIMATED VALUE
  • $0.97

    COMP AVG. RENT PER SQFT
Comps Range
$1,520
1$1,5202$1,5953$1,6954$1,7955$1,800
$1,800
RENT COMPS ANALYSIS
  • 618 5th Street Grand Prairie, TX 1
    • 4 beds 3 baths ∙ 2,003 Sqft ∙ Built 2020 4 beds 3 baths ∙ 2,003 Sqft ∙ Built 2020
    • Rent
    • Rent Per SQFT
    •  
    • $1,520
    • $0.76
    •  
  • 1315 Falcon Drive Dallas, TX 2
    • 4 beds 2 baths ∙ 1,693 Sqft ∙ Built 2013 4 beds 2 baths ∙ 1,693 Sqft ∙ Built 2013
    LEASED 10/24/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.94
    •  
  • 1805 Beaumont Street Grand Prairie, TX 3
    • 4 beds 2 baths ∙ 1,804 Sqft ∙ Built 2016 4 beds 2 baths ∙ 1,804 Sqft ∙ Built 2016
    LEASED 06/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.94
    •  
  • 1331 Saltillo Street Grand Prairie, TX 4
    • 3 beds 2 baths ∙ 1,810 Sqft ∙ Built 2008 3 beds 2 baths ∙ 1,810 Sqft ∙ Built 2008
    LEASED 10/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.99
    •  
  • 2109 Proctor Drive Grand Prairie, TX 5
    • 3 beds 2 baths ∙ 1,789 Sqft ∙ Built 2015 3 beds 2 baths ∙ 1,789 Sqft ∙ Built 2015
    LEASED 02/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $1.01
    •  
PROPERTY LISTING DETAILS
Edgar Graciano
Milenio Real Estate Inc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14490452
Last Updated: 12/26/2020
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