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7576 Sevie Lane Grand Prairie, TX 75054

4 Beds 3 Baths 3,478 sqft Built 2018

$490,000

List Price

$2,940

$2.7K - $3.2K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 17, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2018
  • Price/Sqft : $140.89
  • 5 Days on Market
  • MLS # : 14535148
  • Updated Date : 03/18/2021 at 08:42
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,478 sqft
  • Baths : 2 full , 1 half
Listing Agent

Homesusa.com

Listing Agent's Description

MLS# 14535148 - Built by Windsor Homes - Ready Now! ~ Beautiful model home for sale FULLY FURNISHED! Includes furnishings, appliances and all window treatments. Beautiful covered front porch surrounded by highly landscaped yard. Even room for a pool in the back yard!!!

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

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

 
Sorry, we do not have sufficient school data for this neighborhood.
 

$441,000$539,000$490,000

PURCHASE PRICE

$2,646$3,234$2,940

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,940
EXPENSES Loan Payment -$1,702
Property Tax -$1,075
Property Insurance -$228
HOA -$50
Property Management Fees -$99
CASH FLOW
-$214

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.

$490,000

PROJECTED PRICE

$2,940

PROJECTED RENT

0.60%

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-$10k-$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$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$135,600

INVESTMENT

$135,600

Down Payment
$122,500
Rehab Estimate
$5,750
Closing Costs
$7,350

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$1,702

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $122,500
Loan Amount $367,500
See What Happens When You Reinvest Cash Flow

2.17

YEARS SAVED

$7,359

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,940

    LIST RENT
  • $0.85

    LIST RENT PER SQFT
  • $2,991

    COMP ESTIMATED VALUE
  • $0.86

    COMP AVG. RENT PER SQFT
Comps Range
$2,595
1$2,5952$2,7953$2,7954$2,9405$2,995
$2,995
RENT COMPS ANALYSIS
  • 7576 Sevie Lane Grand Prairie, TX 4
    • 4 beds 3 baths ∙ 3,478 Sqft ∙ Built 2018 4 beds 3 baths ∙ 3,478 Sqft ∙ Built 2018
    • Rent
    • Rent Per SQFT
    •  
    • $2,940
    • $0.85
    •  
  • 3 Saddlewood Court Mansfield, TX 1
    • 5 beds 3 baths ∙ 3,298 Sqft ∙ Built 2003 5 beds 3 baths ∙ 3,298 Sqft ∙ Built 2003
    LEASED 10/18/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,595
    • $0.79
    •  
  • 1408 Judy Lane Mansfield, TX 2
    • 5 beds 3 baths ∙ 3,160 Sqft ∙ Built 2007 5 beds 3 baths ∙ 3,160 Sqft ∙ Built 2007
    LEASED 05/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,795
    • $0.88
    •  
  • 2928 Velero Grand Prairie, TX 3
    • 4 beds 4 baths ∙ 3,198 Sqft ∙ Built 2005 4 beds 4 baths ∙ 3,198 Sqft ∙ Built 2005
    LEASED 01/28/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,795
    • $0.87
    •  
  • 2715 Vela Grand Prairie, TX 5
    • 5 beds 3 baths ∙ 3,330 Sqft ∙ Built 2011 5 beds 3 baths ∙ 3,330 Sqft ∙ Built 2011
    LEASED 01/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,995
    • $0.90
    •  
PROPERTY LISTING DETAILS
Ben Caballero
Homesusa.com
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14535148
Last Updated: 03/18/2021
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