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7248 Portillo Grand Prairie, TX 75054

5 Beds 4 Baths 4,958 sqft Built 2015

$614,900

List Price

$3,420

$3.2K - $3.7K

Rent Est.

PROPERTY INFO

February 11, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2015
  • Price/Sqft : $124.02
  • 4 Days on Market
  • MLS # : 14516951
  • Updated Date : 02/11/2021 at 19:00
CONSTRUCTION
  • Beds : 5
  • Floor Size : 4,958 sqft
  • Baths : 4 full
Listing Agent

Coldwell Banker Realty

Listing Agent's Description

Welcome home to this beautiful 5 bedroom, 4 baths with endless upgrades home in highly sought after Mansfield ISD. This home is nestled in the master planned community of Mira Lagos with tons of HOA amenities for the family. Towering entryway, upgraded flooring, designer lighting, chef’s gourmet kitchen with endless cabinets are just some of the features this home has to offer. Memories are certain to made with all of the entertainment features such as over-sized game room, media room, wine cellar and covered outdoor kitchen and patio. Built by Innovation homes, this home is truly one of a kind and still under builder’s warranty!

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: 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
 

$553,410$676,390$614,900

PURCHASE PRICE

$3,078$3,762$3,420

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,420
EXPENSES Loan Payment -$2,136
Property Tax -$1,349
Property Insurance -$314
HOA -$47
Property Management Fees -$99
CASH FLOW
-$524

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.

$614,900

PROJECTED PRICE

$3,420

PROJECTED RENT

0.56%

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$1.4M$1.6M$1.8M

PROJECTED ANNUAL CASH FLOW

11530-$15k-$10k-$5.0k$0.0$5.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M$1.8M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$168,699

INVESTMENT

$168,699

Down Payment
$153,725
Rehab Estimate
$5,750
Closing Costs
$9,224

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,136

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $153,725
Loan Amount $461,175
See What Happens When You Reinvest Cash Flow

0.67

YEARS SAVED

$1,557

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,420

    LIST RENT
  • $0.69

    LIST RENT PER SQFT
  • $4,280

    COMP ESTIMATED VALUE
  • $0.86

    COMP AVG. RENT PER SQFT
Comps Range
$3,420
1$3,4202$3,5003$4,2004$4,450
$4,450
RENT COMPS ANALYSIS
  • 7248 Portillo Grand Prairie, TX 1
    • 5 beds 4 baths ∙ 4,958 Sqft ∙ Built 2015 5 beds 4 baths ∙ 4,958 Sqft ∙ Built 2015
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $3,420
    • $0.69
    •  
  • 4805 Comstock Way Mansfield, TX 2
    • 6 beds 5 baths ∙ 4,666 Sqft ∙ Built 2017 6 beds 5 baths ∙ 4,666 Sqft ∙ Built 2017
    property image
    LEASED 11/12/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,500
    • $0.75
    •  
  • 2716 La Jolla Boulevard Grand Prairie, TX 3
    • 6 beds 4 baths ∙ 4,667 Sqft ∙ Built 2020 6 beds 4 baths ∙ 4,667 Sqft ∙ Built 2020
    property image
    LEASED 11/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,200
    • $0.90
    •  
  • 2627 Linda Vista Grand Prairie, TX 4
    • 5 beds 5 baths ∙ 4,752 Sqft ∙ Built 2017 5 beds 5 baths ∙ 4,752 Sqft ∙ Built 2017
    property image
    LEASED 02/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,450
    • $0.94
    •  
PROPERTY LISTING DETAILS
Quynh Le
Coldwell Banker Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14516951
Last Updated: 02/11/2021
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