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7243 La Mancha Grand Prairie, TX 75054

4 Beds 3 Baths 2,403 sqft Built 2009

$358,000

List Price

$2,050

$1.8K - $2.3K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 07, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2009
  • Price/Sqft : $148.98
  • 1 Days on Market
  • MLS # : 14520747
  • Updated Date : 03/07/2021 at 00:15
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,403 sqft
  • Baths : 2 full , 1 half
Listing Agent

Hsn Realty Llc

Listing Agent's Description

Fall in Love with this absolutely Stunning Fabulous 4 Bed,2.1 Bath,2 Living and 2 Dining Double story house awaits your approval. Upstairs living area can be use as Game Room.The neutral color scheme works beautifully with any décor & the abundance of windows invites the sun to fill each room with natural light. Granite countertop in kitchen and stainless steel appliances. Roof was replaced in 2020.Exterior paint was completed in 2020Texture paint on walls. Pond ,Jogging trail,Park,Gym,Club house and 3 Swimming pools.Cedat Hill view.Examplary Mansfield ISD schools.Free Joe Pool Lake and Lynn Creek Park access. Close to HWY 360 and HWY 87 and Hwy 67.

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
Cora Spencer Elementary School Primary Regular 739 43 10
Danny Jones Middle School Middle Regular 843 51 9
Mansfield Lake Ridge High School High Unknown 2,085 113 NA

Cora Spencer Elementary School

  • Education Level: Primary
  • # of students: 739
  • # of teachers: 43
10
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
 

$322,200$393,800$358,000

PURCHASE PRICE

$1,845$2,255$2,050

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,050
EXPENSES Loan Payment -$1,243
Property Tax -$786
Property Insurance -$166
HOA -$47
Property Management Fees -$99
CASH FLOW
-$291

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.

$358,000

PROJECTED PRICE

$2,050

PROJECTED RENT

0.57%

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

PROJECTED ANNUAL CASH FLOW

11530-$8.0k-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k

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$100,620

INVESTMENT

$100,620

Down Payment
$89,500
Rehab Estimate
$5,750
Closing Costs
$5,370

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$1,243

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $89,500
Loan Amount $268,500
See What Happens When You Reinvest Cash Flow

0.83

YEARS SAVED

$1,308

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,050

    LIST RENT
  • $0.85

    LIST RENT PER SQFT
  • $2,043

    COMP ESTIMATED VALUE
  • $0.85

    COMP AVG. RENT PER SQFT
Comps Range
$1,950
1$1,9502$2,0503$2,1004$2,1955$2,200
$2,200
RENT COMPS ANALYSIS
  • 7243 La Mancha Grand Prairie, TX 2
    • 4 beds 3 baths ∙ 2,403 Sqft ∙ Built 2009 4 beds 3 baths ∙ 2,403 Sqft ∙ Built 2009
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,050
    • $0.85
    •  
  • 3244 Torio Grand Prairie, TX 1
    • 3 beds 3 baths ∙ 2,330 Sqft ∙ Built 2007 3 beds 3 baths ∙ 2,330 Sqft ∙ Built 2007
    property image
    LEASED 03/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.84
    •  
  • 3132 Serpis Grand Prairie, TX 3
    • 4 beds 3 baths ∙ 2,589 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,589 Sqft ∙ Built 2005
    property image
    LEASED 01/29/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.81
    •  
  • 3256 Guadaloupe Grand Prairie, TX 4
    • 4 beds 3 baths ∙ 2,518 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,518 Sqft ∙ Built 2005
    property image
    LEASED 04/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,195
    • $0.87
    •  
  • 7232 Roble Grand Prairie, TX 5
    • 4 beds 3 baths ∙ 2,494 Sqft ∙ Built 2015 4 beds 3 baths ∙ 2,494 Sqft ∙ Built 2015
    property image
    LEASED 05/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.88
    •  
PROPERTY LISTING DETAILS
Hassan Butt
Hsn Realty Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14520747
Last Updated: 03/07/2021
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