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940 Pinebrook Drive Grand Prairie, TX 75052

3 Beds 2 Baths 1,824 sqft Built 2006

$260,000

List Price

$1,640

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

December 05, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2006
  • Price/Sqft : $142.54
  • 2 Days on Market
  • MLS # : 14478089
  • Updated Date : 12/05/2020 at 21:37
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,824 sqft
  • Baths : 2 full
Listing Agent

Bell Realty Co.

Listing Agent's Description

Move in Ready, Move in ready build by Lennar homes in 2006. You will love this place. The Foyer opens to an elegant dinning room, The kitchen overlooks spacious family RM with fireplace. Master rooms has garden tub and walking closet but the BEST is that this REMODEL HAS New granite counter tops new sinks new hardware, new appliances new luxury vinyl floor, new lighting fixtures . New coat of paint inside & outside. new garage opener it also has a Sprinkler system not new. Brookfield has a community pond!! Quick access to major highways, shopping centers, multiple restaurants & airports!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • # 1 in the country for job growth in 2017 (2.6% growth, 91,700 new jobs) (US Census, Forbes, 2017)

PRICE & RENT TRENDS

Neighborhood: Brookfield North

NeighborhoodNIR Market*CityMarket2010Year20002019110k120k130k140k150k160k170k180k190k200k210k220k230k240kPrice in $109k243k

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

Neighborhood: Brookfield North

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100011001200130014001500160017001800Rent in $9591800

* 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
Thurgood Marshall Leadership Academy Primary Regular 591 34 8
Young Mens Leadership Academy At Kennedy Middle School Middle Regular 895 64 NA
Dubiski Career High School High Regular 1,486 86 8

Thurgood Marshall Leadership Academy

  • Education Level: Primary
  • # of students: 591
  • # of teachers: 34
8
GreatSchools Rating

Young Mens Leadership Academy At Kennedy Middle School

  • Education Level: Middle
  • # of students: 895
  • # of teachers: 64
NA
GreatSchools Rating

Dubiski Career High School

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

$234,000$286,000$260,000

PURCHASE PRICE

$1,476$1,804$1,640

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,640
EXPENSES Loan Payment -$959
Property Tax -$633
Property Insurance -$133
HOA -$23
Property Management Fees -$99
CASH FLOW
-$207

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 14% of earned rent to cover both maintenance and periods of vacancy.

$260,000

PROJECTED PRICE

$1,640

PROJECTED RENT

0.63%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 9.2%
Maintenance Year (1-5) 8.00%
Vacancy 6.39%
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$900k

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k$900k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$74,650

INVESTMENT

$74,650

Down Payment
$65,000
Rehab Estimate
$5,750
Closing Costs
$3,900

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$959

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $65,000
Loan Amount $195,000
See What Happens When You Reinvest Cash Flow

1.17

YEARS SAVED

$1,633

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,640

    LIST RENT
  • $0.9

    LIST RENT PER SQFT
  • $1,696

    COMP ESTIMATED VALUE
  • $0.93

    COMP AVG. RENT PER SQFT
Comps Range
$1,595
1$1,5952$1,6403$1,6954$1,7505$1,800
$1,800
RENT COMPS ANALYSIS
  • 940 Pinebrook Drive Grand Prairie, TX 2
    • 3 beds 2 baths ∙ 1,824 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,824 Sqft ∙ Built 2006
    • Rent
    • Rent Per SQFT
    •  
    • $1,640
    • $0.90
    •  
  • 652 Beatty Drive Grand Prairie, TX 1
    • 3 beds 2 baths ∙ 1,764 Sqft ∙ Built 1995 3 beds 2 baths ∙ 1,764 Sqft ∙ Built 1995
    LEASED 05/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.90
    •  
  • 2639 Blackstone Drive Grand Prairie, TX 3
    • 3 beds 2 baths ∙ 1,690 Sqft ∙ Built 2007 3 beds 2 baths ∙ 1,690 Sqft ∙ Built 2007
    LEASED 01/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $1.00
    •  
  • 923 Pinebrook Drive Grand Prairie, TX 4
    • 4 beds 2 baths ∙ 1,935 Sqft ∙ Built 2007 4 beds 2 baths ∙ 1,935 Sqft ∙ Built 2007
    LEASED 09/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.90
    •  
  • 3129 Pheasant Run Court Grand Prairie, TX 5
    • 4 beds 2 baths ∙ 1,965 Sqft ∙ Built 1998 4 beds 2 baths ∙ 1,965 Sqft ∙ Built 1998
    LEASED 03/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.92
    •  
PROPERTY LISTING DETAILS
Eduardo Castillo
Bell Realty Co.
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14478089
Last Updated: 12/05/2020
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