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6968 Regatta Drive Grand Prairie, TX 75054

5 Beds 3 Baths 3,164 sqft Built 2006

$369,900

List Price

$2,780

$2.5K - $3K

Rent Est.

PROPERTY INFO

November 14, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2006
  • Price/Sqft : $116.91
  • 2 Days on Market
  • MLS # : 14471426
  • Updated Date : 11/14/2020 at 01:00
CONSTRUCTION
  • Beds : 5
  • Floor Size : 3,164 sqft
  • Baths : 3 full
Listing Agent

Berkshire Hathawayhs Penfed Tx

Listing Agent's Description

You will love this David Weekley home featuring 5 bedrooms, 3 bathrooms, 3 livings areas & 2 dining rooms which is conveniently located near 360 & Joe Pool Lake. Open kitchen to family room concept is great for entertaining. Kitchen has corian countertops, loads of cabinets, a gas cooktop, & double ovens & is open to the spacious breakfast nook. The family room is centered around a bricked wood burning fireplace. Large gameroom upstairs with beautiful wooden floors. Texas sized owners retreat has plantation shutters, a large sitting area, dual sinks, soaking tub, walk-in shower & large closet. Secondary bedrooms are nicely sized. Great outdoor living space with covered flagstone patio. Excellent MISD!

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: Grand Peninsula

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340kPrice in $109k342k

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

Neighborhood: Grand Peninsula

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001200140016001800200022002400260028003000Rent in $9593062

* 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
 

$332,910$406,890$369,900

PURCHASE PRICE

$2,502$3,058$2,780

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,780
EXPENSES Loan Payment -$1,365
Property Tax -$812
Property Insurance -$210
HOA -$117
Property Management Fees -$99
CASH FLOW
$178

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.

$369,900

PROJECTED PRICE

$2,780

PROJECTED RENT

0.75%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 3.6%
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$0.0$5.0k$10k$15k

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$103,774

INVESTMENT

$103,774

Down Payment
$92,475
Rehab Estimate
$5,750
Closing Costs
$5,549

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,365

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $92,475
Loan Amount $277,425
See What Happens When You Reinvest Cash Flow

6.58

YEARS SAVED

$34,751

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,780

    LIST RENT
  • $0.88

    LIST RENT PER SQFT
  • $2,808

    COMP ESTIMATED VALUE
  • $0.89

    COMP AVG. RENT PER SQFT
Comps Range
$2,595
1$2,5952$2,7803$2,9954$2,9955$3,000
$3,000
RENT COMPS ANALYSIS
  • 6968 Regatta Drive Grand Prairie, TX 2
    • 5 beds 3 baths ∙ 3,164 Sqft ∙ Built 2006 5 beds 3 baths ∙ 3,164 Sqft ∙ Built 2006
    • Rent
    • Rent Per SQFT
    •  
    • $2,780
    • $0.88
    •  
  • 2764 Fuente Grand Prairie, TX 1
    • 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
    •  
  • 2715 Vela Grand Prairie, TX 3
    • 5 beds 3 baths ∙ 3,330 Sqft ∙ Built 2011 5 beds 3 baths ∙ 3,330 Sqft ∙ Built 2011
    LEASED 01/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,995
    • $0.90
    •  
  • 6960 Catamaran Drive Grand Prairie, TX 4
    • 5 beds 4 baths ∙ 3,472 Sqft ∙ Built 2005 5 beds 4 baths ∙ 3,472 Sqft ∙ Built 2005
    LEASED 05/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,995
    • $0.86
    •  
  • 6979 Sea Harbor Drive Grand Prairie, TX 5
    • 4 beds 4 baths ∙ 3,316 Sqft ∙ Built 2010 4 beds 4 baths ∙ 3,316 Sqft ∙ Built 2010
    LEASED 07/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $0.90
    •  
PROPERTY LISTING DETAILS
Lisa Hager
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 #: 14471426
Last Updated: 11/14/2020
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