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817 Laredo Court Grand Prairie, TX 75052

3 Beds 2 Baths 1,359 sqft Built 1989

$230,000

List Price

$1,540

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

January 07, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1989
  • Price/Sqft : $169.24
  • 4 Days on Market
  • MLS # : 14495783
  • Updated Date : 01/09/2021 at 09:58
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,359 sqft
  • Baths : 2 full
Listing Agent

Coldwell Banker Apex, Realtors

Listing Agent's Description

Move in ready 3 bedroom, 2 bath, 2 car garage with open floorplan, vaulted ceilings, WBFP and three skylights. Large corner lot in cul de sac with excellent privacy fence, exterior lighting, decking, and large hot tub. All appliances stay other than washer & dryer. Garden tub, separate shower & WIC in Master. Extra long driveway is perfect for boat or RV parking. This home is very clean and has been well taken care of by the owners. It is a very convenient location, just a few minutes south of I-20 in Grand Prairie. WE HAVE MULTIPLE OFFERS. Asking for highest and best offers by Sunday Jan. 10 at noon.

SEE MORE

MARKET HIGHLIGHTS

  • # 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)
  • . Dallas has 7th largest concentration of high-tech jobs in the U.S. (Dallas Chamber)

PRICE & RENT TRENDS

Neighborhood: Westchester

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $109k336k

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

Neighborhood: Westchester

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100011001200130014001500160017001800190020002100Rent in $9592171

* 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
Colin Powell Elementary School Primary Regular 546 32 9
Ronald W. Reagan Middle School Middle Regular 770 51 7
Dubiski Career High School High Regular 1,486 86 8

Colin Powell Elementary School

  • Education Level: Primary
  • # of students: 546
  • # of teachers: 32
9
GreatSchools Rating

Ronald W. Reagan Middle School

  • Education Level: Middle
  • # of students: 770
  • # of teachers: 51
7
GreatSchools Rating

Dubiski Career High School

  • Education Level: High
  • # of students: 1,486
  • # of teachers: 86
8
GreatSchools Rating
 

$207,000$253,000$230,000

PURCHASE PRICE

$1,386$1,694$1,540

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,540
EXPENSES Loan Payment -$799
Property Tax -$560
Property Insurance -$106
Property Management Fees -$99
CASH FLOW
-$24

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.

$230,000

PROJECTED PRICE

$1,540

PROJECTED RENT

0.67%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 9.5%
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$100k$200k$300k$400k$500k$600k$700k$800k

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$66,700

INVESTMENT

$66,700

Down Payment
$57,500
Rehab Estimate
$5,750
Closing Costs
$3,450

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$799

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $57,500
Loan Amount $172,500
See What Happens When You Reinvest Cash Flow

3.67

YEARS SAVED

$7,913

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,540

    LIST RENT
  • $1.13

    LIST RENT PER SQFT
  • $1,359

    COMP ESTIMATED VALUE
  • $1

    COMP AVG. RENT PER SQFT
Comps Range
$1,250
1$1,2502$1,5403$1,6004$1,6255$1,750
$1,750
RENT COMPS ANALYSIS
  • 817 Laredo Court Grand Prairie, TX 2
    • 3 beds 2 baths ∙ 1,359 Sqft ∙ Built 1989 3 beds 2 baths ∙ 1,359 Sqft ∙ Built 1989
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,540
    • $1.13
    •  
  • 3509 S Edelweiss Drive Grand Prairie, TX 1
    • 3 beds 2 baths ∙ 1,242 Sqft ∙ Built 1973 3 beds 2 baths ∙ 1,242 Sqft ∙ Built 1973
    property image
    LEASED 01/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $1.01
    •  
  • 306 Carol Drive Grand Prairie, TX 3
    • 3 beds 2 baths ∙ 1,658 Sqft ∙ Built 1974 3 beds 2 baths ∙ 1,658 Sqft ∙ Built 1974
    property image
    LEASED 09/04/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.97
    •  
  • 4532 Fargo Drive Grand Prairie, TX 4
    • 3 beds 3 baths ∙ 1,644 Sqft ∙ Built 1990 3 beds 3 baths ∙ 1,644 Sqft ∙ Built 1990
    property image
    LEASED 07/25/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,625
    • $0.99
    •  
  • 3614 Hummingbird Drive Grand Prairie, TX 5
    • 4 beds 2 baths ∙ 1,704 Sqft ∙ Built 1981 4 beds 2 baths ∙ 1,704 Sqft ∙ Built 1981
    property image
    LEASED 11/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $1.03
    •  
PROPERTY LISTING DETAILS
Rhonda Rike
Coldwell Banker Apex, Realtors
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14495783
Last Updated: 01/09/2021
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