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PROPERTY INFO
FACTS
- Single Family
- Built In 2010
- Price/Sqft : $133.54
- 2 Days on Market
- MLS # : 14484766
- Updated Date : 12/12/2020 at 16:16
CONSTRUCTION
- Beds : 3
- Floor Size : 2,958 sqft
- Baths : 2 full , 1 half
Listing Agent
True Realty & Associates
Listing Agent's Description
ABSOLUTELY GORGEOUS ENGERY EFFICIENT HIGHLAND HOME LOCATED IN THE PRESTIGIOUS VILLAS AT MIRA LAGOS. Home features 2 stories, 3Bdrm, 2.1Bth, Office, Media Rm with surround sound system, Game Rm & Oversized 3 Car Garage. Other features include, Roof Installed June 2020, high ceilings, rod iron staircase, granite counters, stainless steel appliances, large kitchen island, beautiful white shutters, stone gas fireplace, Large backyard, covered patio with lovely textured flooring. Neighborhood features walking trails, fun fishing ponds, 3 community pools & a workout center! MISD Schools. Within minutes of Joe Pool Lake, The Shops of Broad, Vernon Newsome Stadium, local Water Parks & tons of shops & fine dining.
SEE MORE
- . 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
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: The Villas at Mira Lago
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $2,570 |
| EXPENSES | Loan Payment | -$1,457 |
| Property Tax | -$867 | |
| Property Insurance | -$198 | |
| HOA | -$47 | |
| Property Management Fees | -$99 | |
|
CASH FLOW
-$98
|
||
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.
$395,000
PROJECTED PRICE
$2,570
PROJECTED RENT
0.65%
PROJECTED RENT / PRICE RATIO
| 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
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$110,425
LOAN DETAILS
$1,457
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $98,750 |
| Loan Amount | $296,250 |
3.25
YEARS SAVED
$12,954
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$2,570
LIST RENT -
$0.87
LIST RENT PER SQFT
-
$2,618
COMP ESTIMATED VALUE -
$0.89
COMP AVG. RENT PER SQFT
Comps Range
-
7015 Palencia Grand Prairie, TX 1
- 3 beds 3 baths ∙ 2,958 Sqft ∙ Built 2010 3 beds 3 baths ∙ 2,958 Sqft ∙ Built 2010
![property image]()
- Rent
- Rent Per SQFT
- $2,570
- $0.87
-
2764 Fuente Grand Prairie, TX 2
- 4 beds 3 baths ∙ 2,928 Sqft ∙ Built 2011 4 beds 3 baths ∙ 2,928 Sqft ∙ Built 2011
![property image]()
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
![property image]()
LEASED 08/17/20- Rent
- Rent Per SQFT
- $2,600
- $0.83
-
2928 Albares Grand Prairie, TX 4
- 4 beds 4 baths ∙ 3,045 Sqft ∙ Built 2011 4 beds 4 baths ∙ 3,045 Sqft ∙ Built 2011
![property image]()
LEASED 03/03/20- Rent
- Rent Per SQFT
- $2,750
- $0.90
-
7208 Darsena Grand Prairie, TX 5
- 4 beds 4 baths ∙ 2,985 Sqft ∙ Built 2009 4 beds 4 baths ∙ 2,985 Sqft ∙ Built 2009
![property image]()
LEASED 02/27/20- Rent
- Rent Per SQFT
- $2,750
- $0.92
PROPERTY LISTING DETAILS
True Realty & Associates
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
MLS #: 14484766
Last Updated: 12/12/2020
