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7015 Palencia Grand Prairie, TX 75054

3 Beds 3 Baths 2,958 sqft Built 2010

$395,000

List Price

$2,570

$2.3K - $2.8K

Rent Est.

PROPERTY INFO

December 12, 2020 RECENTLY ADDED
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

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
 

$355,500$434,500$395,000

PURCHASE PRICE

$2,313$2,827$2,570

RENT

DOWN PAYMENT
FINANCING

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

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-$5.0k$0.0$5.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$110,425

INVESTMENT

$110,425

Down Payment
$98,750
Rehab Estimate
$5,750
Closing Costs
$5,925

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,457

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $98,750
Loan Amount $296,250
See What Happens When You Reinvest Cash Flow

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
$2,570
1$2,5702$2,5953$2,6004$2,7505$2,750
$2,750
RENT COMPS ANALYSIS
  • 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
Veronica Jaramillo
True Realty & Associates
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14484766
Last Updated: 12/12/2020
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