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7128 Playa Paraiso Drive Grand Prairie, TX 75054

4 Beds 4 Baths 2,991 sqft Built 2018

$399,900

List Price

$2,660

$2.4K - $2.9K

Rent Est.

PROPERTY INFO

November 21, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2018
  • Price/Sqft : $133.70
  • 2 Days on Market
  • MLS # : 14473775
  • Updated Date : 11/21/2020 at 15:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,991 sqft
  • Baths : 3 full , 1 half
Listing Agent

Better Homes & Gardens, Winans

Listing Agent's Description

Lovely like-new home in pristine condition. Popular Mira Lagos' La Jolla; high performing Mansfield schools; Beautiful First Texas 2018 build with extras added at construction. Soft neutral colors throughout; Master and 2 bedrooms downstairs, game room and guest suite upstairs; cook's kitchen with gas cooktop, double ovens, and yards of granite counter workspace, including breakfast bar; butler's pantry with wine fridge included; gleaming woods floors, from entry through to study, dining, living, breakfast; spacious master suite has sitting area, walk in closet, separate shower, jetted tub, separate vanities, enclosed toilet; covered patio with large backyard; swing driveway for extra parking

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • . 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)

PRICE & RENT TRENDS

Neighborhood: Mira Lagos

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $109k377k

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

Neighborhood: Mira Lagos

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001200140016001800200022002400Rent in $9592519

* 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
 

$359,910$439,890$399,900

PURCHASE PRICE

$2,394$2,926$2,660

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,660
EXPENSES Loan Payment -$1,475
Property Tax -$878
Property Insurance -$200
HOA -$47
Property Management Fees -$99
CASH FLOW
-$38

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.

$399,900

PROJECTED PRICE

$2,660

PROJECTED RENT

0.67%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 6.4%
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$111,724

INVESTMENT

$111,724

Down Payment
$99,975
Rehab Estimate
$5,750
Closing Costs
$5,999

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,475

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $99,975
Loan Amount $299,925
See What Happens When You Reinvest Cash Flow

3.92

YEARS SAVED

$17,614

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,660

    LIST RENT
  • $0.89

    LIST RENT PER SQFT
  • $2,640

    COMP ESTIMATED VALUE
  • $0.88

    COMP AVG. RENT PER SQFT
Comps Range
$2,595
1$2,5952$2,6003$2,6604$2,7455$2,995
$2,995
RENT COMPS ANALYSIS
  • 7128 Playa Paraiso Drive Grand Prairie, TX 3
    • 4 beds 4 baths ∙ 2,991 Sqft ∙ Built 2018 4 beds 4 baths ∙ 2,991 Sqft ∙ Built 2018
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,660
    • $0.89
    •  
  • 2764 Fuente Grand Prairie, TX 1
    • 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 2
    • 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
    •  
  • 2715 Ponce De Leon Grand Prairie, TX 4
    • 4 beds 3 baths ∙ 3,006 Sqft ∙ Built 2007 4 beds 3 baths ∙ 3,006 Sqft ∙ Built 2007
    property image
    LEASED 06/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,745
    • $0.91
    •  
  • 2715 Vela Grand Prairie, TX 5
    • 5 beds 3 baths ∙ 3,330 Sqft ∙ Built 2011 5 beds 3 baths ∙ 3,330 Sqft ∙ Built 2011
    property image
    LEASED 01/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,995
    • $0.90
    •  
PROPERTY LISTING DETAILS
Linda Olson
Better Homes & Gardens, Winans
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14473775
Last Updated: 11/21/2020
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