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738 Tapley Street Grand Prairie, TX 75051

4 Beds 2 Baths 2,243 sqft Built 2021

$325,000

List Price

$2,030

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

Built 2021 NEW CONSTRUCTION
FACTS
  • Single Family
  • Built In 2021
  • Price/Sqft : $144.90
  • 10 Days on Market
  • MLS # : 14513428
  • Updated Date : 02/09/2021 at 01:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,243 sqft
  • Baths : 2 full
Listing Agent

Glorimont Real Estate, Llc

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: Tyre Estates

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240kPrice in $66k243k

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

Neighborhood: Tyre Estates

NeighborhoodNIR Market*CityMarket2010Year20002019 Q270080090010001100120013001400150016001700Rent in $6801734

* 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
Patrick Elementary School Primary Regular NA
Carter Junior High School Middle Regular 1,091 75 4
Sam Houston High School High Regular 3,499 227 2

Patrick Elementary School

  • Education Level: Primary
  • # of students:
  • # of teachers:
NA
GreatSchools Rating

Carter Junior High School

  • Education Level: Middle
  • # of students: 1,091
  • # of teachers: 75
4
GreatSchools Rating

Sam Houston High School

  • Education Level: High
  • # of students: 3,499
  • # of teachers: 227
2
GreatSchools Rating
 

$292,500$357,500$325,000

PURCHASE PRICE

$1,827$2,233$2,030

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,030
EXPENSES Loan Payment -$1,129
Property Tax -$713
Property Insurance -$157
Property Management Fees -$99
CASH FLOW
-$68

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 10% of earned rent to cover both maintenance and periods of vacancy.

$325,000

PROJECTED PRICE

$2,030

PROJECTED RENT

0.62%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.74%
Appreciation Year (1-5) 9.5%
Maintenance Year (1-5) 3.00%
Vacancy 6.69%
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-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k

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$88,125

INVESTMENT

$88,125

Down Payment
$81,250
Rehab Estimate
$2,000
Closing Costs
$4,875

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,129

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $81,250
Loan Amount $243,750
See What Happens When You Reinvest Cash Flow

3.25

YEARS SAVED

$8,742

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,030

    LIST RENT
  • $0.91

    LIST RENT PER SQFT
  • $2,011

    COMP ESTIMATED VALUE
  • $0.9

    COMP AVG. RENT PER SQFT
Comps Range
$1,750
1$1,7502$1,8993$2,0304$2,075
$2,075
RENT COMPS ANALYSIS
  • 738 Tapley Street Grand Prairie, TX 3
    • 4 beds 2 baths ∙ 2,243 Sqft ∙ Built 2021 4 beds 2 baths ∙ 2,243 Sqft ∙ Built 2021
    • Rent
    • Rent Per SQFT
    •  
    • $2,030
    • $0.91
    •  
  • 936 Furlong Drive Grand Prairie, TX 1
    • 4 beds 2 baths ∙ 1,966 Sqft ∙ Built 2008 4 beds 2 baths ∙ 1,966 Sqft ∙ Built 2008
    LEASED 09/06/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.89
    •  
  • 616 Owen Trail Grand Prairie, TX 2
    • 4 beds 2 baths ∙ 1,934 Sqft ∙ Built 2007 4 beds 2 baths ∙ 1,934 Sqft ∙ Built 2007
    LEASED 09/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,899
    • $0.98
    •  
  • 2424 Canyon Springs Drive Grand Prairie, TX 4
    • 3 beds 3 baths ∙ 2,521 Sqft ∙ Built 2005 3 beds 3 baths ∙ 2,521 Sqft ∙ Built 2005
    LEASED 11/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,075
    • $0.82
    •  
PROPERTY LISTING DETAILS
Gloria Rathmell
Glorimont Real Estate, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14513428
Last Updated: 02/09/2021
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