Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

1005 Mickelson Drive Granbury, TX 76048

3 Beds 2 Baths 2,267 sqft Built 2020

$347,982

List Price

$2,240

$2K - $2.5K

Rent Est.

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
November 05, 2020 RECENTLY ADDED
FACTS
  • Built In 2020
  • Price/Sqft : $153.50
  • 4 Days on Market
  • MLS # : 14466685
  • Updated Date : 11/05/2020 at 18:08
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,267 sqft
  • Baths : 2 full
Listing Agent

Homesusa.com

Listing Agent's Description

MLS# 14466685 - Built by Antares Homes - February completion! ~ From the foyer enter the formal dining room or find seclusion in the private study. The kitchen is complete with stainless steel appliances, a large central island, and a corner walk-in pantry. Access to the rear covered patio is through the breakfast nook. The spacious family room is filled with natural light and a stunning natural stone to ceiling corner direct vent gas fireplace. The expansive master suite includes the adjoined master bathroom and has dual vanities, a separate walk-in shower with a seat, a large garden tub, and a huge walk-in closet. Two additional bedrooms have easy access to a full bathroom with a dual sink vanity

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: 76048

ZipNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240kPrice in $82k243k

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

Zip Code: 76048

ZipNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700Rent in $9991734

* 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
Brawner Intermediate School Primary Regular 413 27 4
Acton Middle School Middle Regular 821 48 6
Granbury High School High Regular 1,414 115 6

Brawner Intermediate School

  • Education Level: Primary
  • # of students: 413
  • # of teachers: 27
4
GreatSchools Rating

Acton Middle School

  • Education Level: Middle
  • # of students: 821
  • # of teachers: 48
6
GreatSchools Rating

Granbury High School

  • Education Level: High
  • # of students: 1,414
  • # of teachers: 115
6
GreatSchools Rating
 

$313,184$382,780$347,982

PURCHASE PRICE

$2,016$2,464$2,240

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,240
EXPENSES Loan Payment -$1,284
Property Tax -$471
Property Insurance -$158
HOA -$40
Property Management Fees -$99
CASH FLOW
$187

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 9% of earned rent to cover both maintenance and periods of vacancy.

$347,982

PROJECTED PRICE

$2,240

PROJECTED RENT

0.64%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 5.4%
Maintenance Year (1-5) 3.00%
Vacancy 6.39%
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

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k

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$94,215

INVESTMENT

$94,215

Down Payment
$86,996
Rehab Estimate
$2,000
Closing Costs
$5,220

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$1,284

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $86,996
Loan Amount $260,987
See What Happens When You Reinvest Cash Flow

8

YEARS SAVED

$43,816

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,240

    LIST RENT
  • $0.99

    LIST RENT PER SQFT
  • $2,278

    COMP ESTIMATED VALUE
  • $1.01

    COMP AVG. RENT PER SQFT
Comps Range
$2,240
1$2,2402$2,2503$2,3004$2,3255$2,350
$2,350
RENT COMPS ANALYSIS
  • 1005 Mickelson Drive Granbury, TX 1
    • 3 beds 2 baths ∙ 2,267 Sqft ∙ Built 2020 3 beds 2 baths ∙ 2,267 Sqft ∙ Built 2020
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,240
    • $0.99
    •  
  • 1401 Carnoustie Court Granbury, TX 2
    • 4 beds 2 baths ∙ 2,333 Sqft ∙ Built 2017 4 beds 2 baths ∙ 2,333 Sqft ∙ Built 2017
    property image
    LEASED 11/27/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $0.96
    •  
  • 1400 Carnoustie Court Granbury, TX 3
    • 3 beds 2 baths ∙ 2,193 Sqft ∙ Built 2017 3 beds 2 baths ∙ 2,193 Sqft ∙ Built 2017
    property image
    LEASED 04/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.05
    •  
  • 1707 Troon Court Granbury, TX 4
    • 4 beds 2 baths ∙ 2,333 Sqft ∙ Built 2017 4 beds 2 baths ∙ 2,333 Sqft ∙ Built 2017
    property image
    LEASED 03/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,325
    • $1.00
    •  
  • 2101 Clive Drive Granbury, TX 5
    • 4 beds 2 baths ∙ 2,333 Sqft ∙ Built 2018 4 beds 2 baths ∙ 2,333 Sqft ∙ Built 2018
    property image
    LEASED 10/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $1.01
    •  
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 #: 14466685
Last Updated: 11/05/2020
BESbswy