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6944 Sarria Grand Prairie, TX 75054

4 Beds 3 Baths 3,018 sqft Built 2013

$350,000

List Price

$2,580

$2.3K - $2.8K

Rent Est.

PROPERTY INFO

January 30, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2013
  • Price/Sqft : $115.97
  • 2 Days on Market
  • MLS # : 14508595
  • Updated Date : 01/30/2021 at 18:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,018 sqft
  • Baths : 3 full
Listing Agent

Ink Realty Group, Llc

Listing Agent's Description

Beautiful 4 bedroom 3 bath home in the desirable and highly sought after Mira Lagos Community next to Joe Pool Lake!!! This home features a stone & brick facade with impressive front door. Spacious kitchen, granite countertops, dramatic high ceilings, large living room downstairs with beautiful lighting throughout. Custom alder cabinets, 18x18 tile and stainless steel appliances. Very large media room, game room, master bedroom + 2nd bedroom on first floor. In-ceiling sound system throughout the home and on patio. Property is in the very popular Mansfield ISD.

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: The Villas at Mira Lago

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $109k336k

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

Neighborhood: The Villas at Mira Lago

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001200140016001800200022002400Rent in $9592543

* 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
Anna May Daulton Elementary School Primary Regular 665 41 8
Danny Jones Middle School Middle Regular 843 51 9
Mansfield Lake Ridge High School High Unknown 2,085 113 NA

Anna May Daulton Elementary School

  • Education Level: Primary
  • # of students: 665
  • # of teachers: 41
8
GreatSchools Rating

Danny Jones Middle School

  • Education Level: Middle
  • # of students: 843
  • # of teachers: 51
9
GreatSchools Rating

Mansfield Lake Ridge High School

  • Education Level: High
  • # of students: 2,085
  • # of teachers: 113
NA
GreatSchools Rating
 

$315,000$385,000$350,000

PURCHASE PRICE

$2,322$2,838$2,580

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,580
EXPENSES Loan Payment -$1,216
Property Tax -$768
Property Insurance -$202
HOA -$39
Property Management Fees -$99
CASH FLOW
$257

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.

$350,000

PROJECTED PRICE

$2,580

PROJECTED RENT

0.74%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 6.8%
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$0.0$5.0k$10k$15k

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$98,500

INVESTMENT

$98,500

Down Payment
$87,500
Rehab Estimate
$5,750
Closing Costs
$5,250

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,216

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $87,500
Loan Amount $262,500
See What Happens When You Reinvest Cash Flow

7.92

YEARS SAVED

$36,268

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,580

    LIST RENT
  • $0.85

    LIST RENT PER SQFT
  • $2,656

    COMP ESTIMATED VALUE
  • $0.88

    COMP AVG. RENT PER SQFT
Comps Range
$2,580
1$2,5802$2,5953$2,6004$2,7505$2,795
$2,795
RENT COMPS ANALYSIS
  • 6944 Sarria Grand Prairie, TX 1
    • 4 beds 3 baths ∙ 3,018 Sqft ∙ Built 2013 4 beds 3 baths ∙ 3,018 Sqft ∙ Built 2013
    • Rent
    • Rent Per SQFT
    •  
    • $2,580
    • $0.85
    •  
  • 2764 Fuente Grand Prairie, TX 2
    • 4 beds 3 baths ∙ 2,928 Sqft ∙ Built 2011 4 beds 3 baths ∙ 2,928 Sqft ∙ Built 2011
    LEASED 02/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,595
    • $0.89
    •  
  • 2557 Marina Drive Grand Prairie, TX 3
    • 3 beds 3 baths ∙ 3,144 Sqft ∙ Built 2004 3 beds 3 baths ∙ 3,144 Sqft ∙ Built 2004
    LEASED 08/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $0.83
    •  
  • 6942 Sarria Grand Prairie, TX 4
    • 4 beds 3 baths ∙ 2,957 Sqft ∙ Built 2011 4 beds 3 baths ∙ 2,957 Sqft ∙ Built 2011
    LEASED 01/09/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,750
    • $0.93
    •  
  • 2928 Velero Grand Prairie, TX 5
    • 4 beds 4 baths ∙ 3,198 Sqft ∙ Built 2005 4 beds 4 baths ∙ 3,198 Sqft ∙ Built 2005
    LEASED 01/28/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,795
    • $0.87
    •  
PROPERTY LISTING DETAILS
Lauren Logan
Ink Realty Group, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14508595
Last Updated: 01/30/2021
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