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7515 Lynnwood Drive Grand Prairie, TX 75054

4 Beds 3 Baths 3,232 sqft Built 2018

$449,000

List Price

$2,920

$2.7K - $3.2K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 25, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2018
  • Price/Sqft : $138.92
  • 4 Days on Market
  • MLS # : 14521922
  • Updated Date : 02/27/2021 at 09:39
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,232 sqft
  • Baths : 3 full
Listing Agent

Jp And Associates Arlington

Listing Agent's Description

South-facing home sitting on oversized corner lot in highly desirable Mira Lagos and Mansfield ISD! Within minutes of Joe Pool Lake, this home features a welcoming covered porch opening into a stunning rotunda foyer with built in niches, hardwood floors, private study, formal dining room and convenient access to three-car garage. Open gourmet kitchen includes SS appliances, granite topped island flowing into cozy breakfast nook and family room backing up to covered patio and huge backyard. Main floor owner's suite with sitting area, deep garden tub with separate shower, huge walk-in closet. Up the wrought iron spindle staircase is an inviting game room, enclosed media, fourth bedroom and separate full bath.

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

Zip Code: 75054

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340kPrice in $109k354k

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

Zip Code: 75054

ZipNIR Market*CityMarket2010Year20002019 Q2100012001400160018002000220024002600Rent in $9592659

* 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
 

$404,100$493,900$449,000

PURCHASE PRICE

$2,628$3,212$2,920

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,920
EXPENSES Loan Payment -$1,560
Property Tax -$985
Property Insurance -$214
HOA -$50
Property Management Fees -$99
CASH FLOW
$12

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.

$449,000

PROJECTED PRICE

$2,920

PROJECTED RENT

0.65%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 6.7%
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

PROJECTED ANNUAL CASH FLOW

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

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$124,735

INVESTMENT

$124,735

Down Payment
$112,250
Rehab Estimate
$5,750
Closing Costs
$6,735

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,560

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $112,250
Loan Amount $336,750
See What Happens When You Reinvest Cash Flow

4.33

YEARS SAVED

$19,330

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,920

    LIST RENT
  • $0.9

    LIST RENT PER SQFT
  • $2,925

    COMP ESTIMATED VALUE
  • $0.91

    COMP AVG. RENT PER SQFT
Comps Range
$2,595
1$2,5952$2,7453$2,7504$2,7505$2,920
$2,920
RENT COMPS ANALYSIS
  • 7515 Lynnwood Drive Grand Prairie, TX 5
    • 4 beds 3 baths ∙ 3,232 Sqft ∙ Built 2018 4 beds 3 baths ∙ 3,232 Sqft ∙ Built 2018
    • Rent
    • Rent Per SQFT
    •  
    • $2,920
    • $0.90
    •  
  • 2764 Fuente Grand Prairie, TX 1
    • 4 beds 3 baths ∙ 2,928 Sqft ∙ Built 2011 4 beds 3 baths ∙ 2,928 Sqft ∙ Built 2011
    LEASED 02/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,595
    • $0.89
    •  
  • 2715 Ponce De Leon Grand Prairie, TX 2
    • 4 beds 3 baths ∙ 3,006 Sqft ∙ Built 2007 4 beds 3 baths ∙ 3,006 Sqft ∙ Built 2007
    LEASED 06/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,745
    • $0.91
    •  
  • 2928 Albares Grand Prairie, TX 3
    • 4 beds 4 baths ∙ 3,045 Sqft ∙ Built 2011 4 beds 4 baths ∙ 3,045 Sqft ∙ Built 2011
    LEASED 03/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,750
    • $0.90
    •  
  • 7208 Darsena Grand Prairie, TX 4
    • 4 beds 4 baths ∙ 2,985 Sqft ∙ Built 2009 4 beds 4 baths ∙ 2,985 Sqft ∙ Built 2009
    LEASED 02/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,750
    • $0.92
    •  
PROPERTY LISTING DETAILS
Latoyia Gilmore
Jp And Associates Arlington
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14521922
Last Updated: 02/27/2021
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