126 Goerte Dr

Grand Prairie, TX 75051
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3 bd, 2 ba | 1,513 sqft | Built in 1964

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List Price
$244,900

Initial Investment

$70,254

Purchase Price

$244,900

Down Payment

25%

Rent

$1,700

Total Return

$108,127

Annualized Return

19.0%

Cap Rate

3.7%

Gross Yield

8.3%

Cash Flow

-$4,967

Appreciation

9.5%
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Features

Occupancy

Occupied

Lease Start

05/11/2020

Lease End

05/31/2024

Lot Size

7,318

HOA

None

Flood Risk

Not Required

  • Steady five year marketing appreciation
  • Wood vinyl flooring throughout the main areas
  • Updated the AC system and water heater
  • Seller is working on repairing the below items from inspection report making this an ideal property for a new or seasoned investor:
(1) Exterior Walls: Front window would not open at the time of inspection which is a safety hazard when needing a quick escape. Recommend evaluation and repairs by a qualified professional
(2) Roofing: Missing shingles observed which can allow for water intrusion. Recommend evaluation and any necessary repairs by a qualified roofer.
(3) Garage overhead door did not stop when meeting resistance while being tested. Recommend evaluation and repairs by a qualified professional
(4) Bathroom: The hot water pressure did not pass a functional flow test as the pressure dropped to an unacceptable level. Recommend evaluation and repairs by a qualified plumber
(5) Reinspection Attic: Storage surrounding the attic hatch restricted access. Recommend reinspection once access is available

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Annual Financial Highlights

Expected Rent

$19,380

Expenses

-$5,032

Property Taxes

-$6,000

Loan Payments

-$13,314

Net Cash Flow

-$4,967

See more in Financials

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