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620 Sotogrande Street Grand Prairie, TX 75051

3 Beds 2 Baths 1,968 sqft Built 2007

$275,000

List Price

$1,850

$1.7K - $2K

Rent Est.

PROPERTY INFO

November 13, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2007
  • Price/Sqft : $139.74
  • 3 Days on Market
  • MLS # : 14471017
  • Updated Date : 11/13/2020 at 18:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,968 sqft
  • Baths : 2 full
Listing Agent

Jp And Associates Arlington

Listing Agent's Description

Move in ready home in Grand Prairie! Great floorplan with lots of space! Large family room floods with natural light and fits large furniture! Built in shelving & surround sound speakers. The open kitchen and dining nook has 24x24 ceramic tile, tons of cabinet and counterspace and could easily accommodate an island! Large front room has endless possibilities, for 2nd living & dining rooms, home gym or playroom plus the separate study area! Huge master suite with large walk in closet and attached bath has separate shower and garden tub! Built in bunkbed make a great use of space in guest bedroom! Rounded corners, upgraded baseboards, updated flooring and roof replaced in October 2020!

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: Monterrey Park

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240kPrice in $88k243k

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

Neighborhood: Monterrey Park

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700Rent in $9451734

* 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
Juan N. Seguin Elementary School Primary Regular 546 34 3
Young Mens Leadership Academy At Kennedy Middle School Middle Regular 895 64 NA
Dubiski Career High School High Regular 1,486 86 8

Juan N. Seguin Elementary School

  • Education Level: Primary
  • # of students: 546
  • # of teachers: 34
3
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
 

$247,500$302,500$275,000

PURCHASE PRICE

$1,665$2,035$1,850

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,850
EXPENSES Loan Payment -$1,015
Property Tax -$670
Property Insurance -$141
Property Management Fees -$99
CASH FLOW
-$74

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.

$275,000

PROJECTED PRICE

$1,850

PROJECTED RENT

0.67%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.74%
Appreciation Year (1-5) 9.5%
Maintenance Year (1-5) 8.00%
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

PROJECTED ANNUAL CASH FLOW

11530-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$78,625

INVESTMENT

$78,625

Down Payment
$68,750
Rehab Estimate
$5,750
Closing Costs
$4,125

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,015

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $68,750
Loan Amount $206,250
See What Happens When You Reinvest Cash Flow

3

YEARS SAVED

$7,988

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,850

    LIST RENT
  • $0.94

    LIST RENT PER SQFT
  • $1,894

    COMP ESTIMATED VALUE
  • $0.96

    COMP AVG. RENT PER SQFT
Comps Range
$1,595
1$1,5952$1,7503$1,7954$1,8005$1,850
$1,850
RENT COMPS ANALYSIS
  • 620 Sotogrande Street Grand Prairie, TX 5
    • 3 beds 2 baths ∙ 1,968 Sqft ∙ Built 2007 3 beds 2 baths ∙ 1,968 Sqft ∙ Built 2007
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.94
    •  
  • 1315 Falcon Drive Dallas, TX 1
    • 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
    •  
  • 1911 Amerigo Drive Dallas, TX 2
    • 4 beds 2 baths ∙ 1,928 Sqft ∙ Built 2007 4 beds 2 baths ∙ 1,928 Sqft ∙ Built 2007
    LEASED 02/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.91
    •  
  • 1331 Saltillo Street Grand Prairie, TX 3
    • 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 4
    • 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
Valery Boyer
Jp And Associates Arlington
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14471017
Last Updated: 11/13/2020
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