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7647 Watercrest Lane Grand Prairie, TX 75054

4 Beds 2 Baths 2,458 sqft Built 2014

$350,000

List Price

$2,380

$2.1K - $2.6K

Rent Est.

PROPERTY INFO

November 10, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2014
  • Price/Sqft : $142.39
  • 6 Days on Market
  • MLS # : 14469029
  • Updated Date : 11/11/2020 at 06:58
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,458 sqft
  • Baths : 2 full
Listing Agent

Berkshire Hathawayhs Penfed Tx

Listing Agent's Description

Popular & open DR Horton floorplan features 4 beds, 2 baths, dining room, flex room & spacious family room is within walking distance to Lake Ridge High School. Great curb appeal with lush landscaping & gorgeous stone & brick front elevation with a covered front porch. Kitchen is open to the breakfast nook & family room has gorgeous granite countertops with a tile backsplash, large island, smooth electric cooktop, stainless steel appliances & spacious pantry. Family room centers around stone gas started fireplace with logs. Nice sized owners retreat has his her sinks, walk-in shower, soaking tub & large closet with built-ins. Secondary bedrooms split for optimal privacy. Covered patio. Excellent MISD schools.

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
 

$315,000$385,000$350,000

PURCHASE PRICE

$2,142$2,618$2,380

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,380
EXPENSES Loan Payment -$1,291
Property Tax -$768
Property Insurance -$169
HOA -$33
Property Management Fees -$99
CASH FLOW
$19

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.

$350,000

PROJECTED PRICE

$2,380

PROJECTED RENT

0.68%

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

PROJECTED ANNUAL CASH FLOW

11530-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$98,500

INVESTMENT

$98,500

Down Payment
$87,500
Rehab Estimate
$5,750
Closing Costs
$5,250

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,291

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $87,500
Loan Amount $262,500
See What Happens When You Reinvest Cash Flow

4.58

YEARS SAVED

$19,906

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,380

    LIST RENT
  • $0.97

    LIST RENT PER SQFT
  • $2,059

    COMP ESTIMATED VALUE
  • $0.84

    COMP AVG. RENT PER SQFT
Comps Range
$1,950
1$1,9502$1,9953$2,1954$2,2505$2,380
$2,380
RENT COMPS ANALYSIS
  • 7647 Watercrest Lane Grand Prairie, TX 5
    • 4 beds 2 baths ∙ 2,458 Sqft ∙ Built 2014 4 beds 2 baths ∙ 2,458 Sqft ∙ Built 2014
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,380
    • $0.97
    •  
  • 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
    •  
  • 108 Bridgewood Drive Mansfield, TX 2
    • 4 beds 3 baths ∙ 2,362 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,362 Sqft ∙ Built 2005
    property image
    LEASED 08/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.84
    •  
  • 3256 Guadaloupe Grand Prairie, TX 3
    • 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
    •  
  • 3201 Fluvia Grand Prairie, TX 4
    • 4 beds 3 baths ∙ 2,798 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,798 Sqft ∙ Built 2006
    property image
    LEASED 07/11/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $0.80
    •  
PROPERTY LISTING DETAILS
Lisa Hager
Berkshire Hathawayhs Penfed Tx
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14469029
Last Updated: 11/11/2020
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