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620 Sotogrande Street Grand Prairie, TX 75051

3 Beds 2 Baths 1,968 sqft Built 2007

$268,900

List Price

$1,900

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

January 22, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2007
  • Price/Sqft : $136.64
  • 3 Days on Market
  • MLS # : 14504824
  • Updated Date : 01/22/2021 at 19:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,968 sqft
  • Baths : 2 full
Listing Agent

Berkshire Hathawayhs Penfed Tx

Listing Agent's Description

If you are looking for modern living, privacy, and a spacious floor plan; the search is over! Fluid transitions from one room to the next giving options for use in the front rooms to create your own space. Functional kitchen is open to the living room, ready for entertaining, and features stainless steel appliances, ample counter space, and cabinetry with plenty of room to add an island. The spacious living room offers wood type flooring, built-in shelving, and a sliding glass door that filters in natural light and leads to the sizeable backyard. Stylish primary bedroom offers a generous space to relax. The classically white en-suite bathroom offers dual sinks, a soaking tub, and separate shower.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • . 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)

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
 

$242,010$295,790$268,900

PURCHASE PRICE

$1,710$2,090$1,900

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,900
EXPENSES Loan Payment -$934
Property Tax -$655
Property Insurance -$141
Property Management Fees -$99
CASH FLOW
$71

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.

$268,900

PROJECTED PRICE

$1,900

PROJECTED RENT

0.71%

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$1.0M

PROJECTED ANNUAL CASH FLOW

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

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$77,009

INVESTMENT

$77,009

Down Payment
$67,225
Rehab Estimate
$5,750
Closing Costs
$4,034

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$934

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $67,225
Loan Amount $201,675
See What Happens When You Reinvest Cash Flow

5.33

YEARS SAVED

$15,442

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,900

    LIST RENT
  • $0.97

    LIST RENT PER SQFT
  • $1,988

    COMP ESTIMATED VALUE
  • $1.01

    COMP AVG. RENT PER SQFT
Comps Range
$1,795
1$1,7952$1,8003$1,8954$1,9005$2,000
$2,000
RENT COMPS ANALYSIS
  • 620 Sotogrande Street Grand Prairie, TX 4
    • 3 beds 2 baths ∙ 1,968 Sqft ∙ Built 2007 3 beds 2 baths ∙ 1,968 Sqft ∙ Built 2007
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.97
    •  
  • 1331 Saltillo Street Grand Prairie, TX 1
    • 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 2
    • 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
    •  
  • 2644 Carmen Drive Grand Prairie, TX 3
    • 4 beds 2 baths ∙ 1,896 Sqft ∙ Built 2003 4 beds 2 baths ∙ 1,896 Sqft ∙ Built 2003
    LEASED 10/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $1.00
    •  
  • 1619 Northview Drive Grand Prairie, TX 5
    • 4 beds 2 baths ∙ 1,922 Sqft ∙ Built 2008 4 beds 2 baths ∙ 1,922 Sqft ∙ Built 2008
    LEASED 12/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $1.04
    •  
PROPERTY LISTING DETAILS
Wendy Galloway
Berkshire Hathawayhs Penfed Tx
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14504824
Last Updated: 01/22/2021
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