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113 Rio Grande Drive Crandall, TX 75114

3 Beds 2 Baths 1,641 sqft Built 2021

$221,535

List Price

$1,410

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

Built 2021 NEW CONSTRUCTION
February 04, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2021
  • Price/Sqft : $135.00
  • 4 Days on Market
  • MLS # : 14510294
  • Updated Date : 02/04/2021 at 18:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,641 sqft
  • Baths : 2 full
Listing Agent

Coldwell Banker Apex, Realtors

Listing Agent's Description

Please excuse our mess! We are working to build your Dream Home... New Construction, nestled in an established neighborhood in walking distance to schools and easy access to hwy & shopping. Built-in mud cabinet off the garage perfect for all your sports equipment, doggy necessities & quick access item storage. Kitchen boasts sleek custom, glass front & ambient light cabinets, drop lights, granite counters & stainless appliances. Open concept floor plan offers split bedrooms. Oversized owners' suite has separate tub & shower, dual sinks, walking closet Abundant laundry room offers farm sink & drying rack. Secondary bedrooms split by guest bath with dual vanity. Entertainment style backyard & patio. NO MUD!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: River Ridge

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240kPrice in $88k243k

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

Neighborhood: River Ridge

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100011001200130014001500160017001800Rent in $9451840

* 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
W A Martin Elementary School Primary Regular 481 26 5
Crandall Middle School Middle Regular 746 47 5
Crandall High School High Regular 921 52 5

W A Martin Elementary School

  • Education Level: Primary
  • # of students: 481
  • # of teachers: 26
5
GreatSchools Rating

Crandall Middle School

  • Education Level: Middle
  • # of students: 746
  • # of teachers: 47
5
GreatSchools Rating

Crandall High School

  • Education Level: High
  • # of students: 921
  • # of teachers: 52
5
GreatSchools Rating
 

$199,382$243,689$221,535

PURCHASE PRICE

$1,269$1,551$1,410

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,410
EXPENSES Loan Payment -$769
Property Tax -$559
Property Insurance -$122
HOA -$19
Property Management Fees -$99
CASH FLOW
-$158

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 10% of earned rent to cover both maintenance and periods of vacancy.

$221,535

PROJECTED PRICE

$1,410

PROJECTED RENT

0.64%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.74%
Appreciation Year (1-5) 7.4%
Maintenance Year (1-5) 3.00%
Vacancy 6.69%
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

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$3.0k-$2.0k-$1.0k$0.0$1.0k$2.0k$3.0k$4.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$60,707

INVESTMENT

$60,707

Down Payment
$55,384
Rehab Estimate
$2,000
Closing Costs
$3,323

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$769

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $55,384
Loan Amount $166,151
See What Happens When You Reinvest Cash Flow

1.08

YEARS SAVED

$1,074

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,410

    LIST RENT
  • $0.86

    LIST RENT PER SQFT
  • $1,633

    COMP ESTIMATED VALUE
  • $1

    COMP AVG. RENT PER SQFT
Comps Range
$1,410
1$1,4102$1,5503$1,625
$1,625
RENT COMPS ANALYSIS
  • 113 Rio Grande Drive Crandall, TX 1
    • 3 beds 2 baths ∙ 1,641 Sqft ∙ Built 2021 3 beds 2 baths ∙ 1,641 Sqft ∙ Built 2021
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,410
    • $0.86
    •  
  • 112 Angelina Drive Crandall, TX 2
    • 3 beds 2 baths ∙ 1,518 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,518 Sqft ∙ Built 2002
    property image
    LEASED 05/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $1.02
    •  
  • 209 Angelina Drive Crandall, TX 3
    • 4 beds 2 baths ∙ 1,676 Sqft ∙ Built 2004 4 beds 2 baths ∙ 1,676 Sqft ∙ Built 2004
    property image
    LEASED 10/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,625
    • $0.97
    •  
PROPERTY LISTING DETAILS
Jennifer Kilpatrick
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 #: 14510294
Last Updated: 02/04/2021
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