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6947 Ponzano Grand Prairie, TX 75054

3 Beds 3 Baths 2,771 sqft Built 2006

$355,000

List Price

$2,420

$2.2K - $2.7K

Rent Est.

PROPERTY INFO

December 24, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2006
  • Price/Sqft : $128.11
  • 4 Days on Market
  • MLS # : 14490437
  • Updated Date : 12/24/2020 at 14:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,771 sqft
  • Baths : 2 full , 1 half
Listing Agent

Jp And Associates Arlington

Listing Agent's Description

Welcome home! This beautifully maintained former model home is located in the prestigious Villas of Mira Lagos! This 2 story home features 3 spacious bedrooms, 2.1 baths, an Office, and a Media room on corner lot! Master suite features a large walk in closet and his and her vanity. The spacious backyard features a large extended covered patio perfect for all your outdoor activities. Patio roof recently replaced. Located in highly sought after Mansfield ISD! Neighborhood features include walking trails, fishing ponds, community pools & a workout center. Located minutes away from Joe Pool Lake! Nearby tons of shopping & fine dining. Conveniently located to all major highways. Schedule your showing today!

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
 

$319,500$390,500$355,000

PURCHASE PRICE

$2,178$2,662$2,420

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,420
EXPENSES Loan Payment -$1,310
Property Tax -$779
Property Insurance -$187
HOA -$47
Property Management Fees -$99
CASH FLOW
-$2

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.

$355,000

PROJECTED PRICE

$2,420

PROJECTED RENT

0.68%

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

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

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$99,825

INVESTMENT

$99,825

Down Payment
$88,750
Rehab Estimate
$5,750
Closing Costs
$5,325

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,310

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $88,750
Loan Amount $266,250
See What Happens When You Reinvest Cash Flow

4.33

YEARS SAVED

$18,101

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,420

    LIST RENT
  • $0.87

    LIST RENT PER SQFT
  • $2,466

    COMP ESTIMATED VALUE
  • $0.89

    COMP AVG. RENT PER SQFT
Comps Range
$2,200
1$2,2002$2,3503$2,4004$2,4205$2,595
$2,595
RENT COMPS ANALYSIS
  • 6947 Ponzano Grand Prairie, TX 4
    • 3 beds 3 baths ∙ 2,771 Sqft ∙ Built 2006 3 beds 3 baths ∙ 2,771 Sqft ∙ Built 2006
    • Rent
    • Rent Per SQFT
    •  
    • $2,420
    • $0.87
    •  
  • 7232 Roble Grand Prairie, TX 1
    • 4 beds 3 baths ∙ 2,494 Sqft ∙ Built 2015 4 beds 3 baths ∙ 2,494 Sqft ∙ Built 2015
    LEASED 05/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.88
    •  
  • 7044 Bethlehem Drive Grand Prairie, TX 2
    • 3 beds 2 baths ∙ 2,612 Sqft ∙ Built 2006 3 beds 2 baths ∙ 2,612 Sqft ∙ Built 2006
    LEASED 03/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $0.90
    •  
  • 2565 Marina Drive Grand Prairie, TX 3
    • 4 beds 3 baths ∙ 2,703 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,703 Sqft ∙ Built 2004
    LEASED 06/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $0.89
    •  
  • 2764 Fuente Grand Prairie, TX 5
    • 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
    •  
PROPERTY LISTING DETAILS
Michael Barnett
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 #: 14490437
Last Updated: 12/24/2020
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