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

1214 Circle View Court Grapevine, TX 76051

3 Beds 2 Baths 1,346 sqft Built 1985

INVESTimate

$299,900

List Price

$1,790

$1,611 - $1,969

Rent Est.

$321,433  ( +7.18%)   1 YR EST. FORECAST

PROPERTY INFO

August 20, 2020 RECENTLY ADDED
FACTS
  • Built In 1985
  • Price/Sqft : $222.81
  • 7 Days on Market
  • MLS # : 14413889
  • Updated Date : 08/23/2020 at 16:41
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,346 sqft
  • Baths : 2 full
Listing Agent

Epic National Realty, Llc

Listing Agent's Description

Don't miss the unforgettable Forrest Lake addition home. High ceilings and unique details throughout. Entry way opens to formal dining area complete with rustic wood accent wall and sliding glass door that opens to flag stone side patio. Kitchen features custom cabinets and trim, chalkboard pantry door, industrial pipe style lighting fixtures, exposed beams and dry bar area. Living with vaulted ceilings, Exposed beams, tile floor and gas fireplace with stone approach, wood mantel. Separate sliding glass door to back deck. Master Bed with carpet ceiling fan, WIC, shower tub combo and separate toilet room. This one won't last long, schedule your showing today.

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: Forest Lake Grapevine

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $88k374k

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

Neighborhood: Forest Lake Grapevine

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001200140016001800200022002400Rent in $9452539

* 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
Silver Lake Elementary School Primary Regular 589 47 6
Grapevine Middle School Middle Regular 733 49 5
Colleyville Heritage High School High Regular 2,222 135 8

Silver Lake Elementary School

  • Education Level: Primary
  • # of students: 589
  • # of teachers: 47
6
GreatSchools Rating

Grapevine Middle School

  • Education Level: Middle
  • # of students: 733
  • # of teachers: 49
5
GreatSchools Rating

Colleyville Heritage High School

  • Education Level: High
  • # of students: 2,222
  • # of teachers: 135
8
GreatSchools Rating
 

$269,910$329,890$299,900

PURCHASE PRICE

$1,611$1,969$1,790

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,790
EXPENSES Loan Payment -$1,107
Property Tax -$570
Property Insurance -$105
Property Management Fees -$99
CASH FLOW
-$90

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.

$299,900

PROJECTED PRICE

$1,790

PROJECTED RENT

0.60%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.74%
Appreciation Year (1-5) 7.18%
Maintenance Year (1-5) 8.00%
Vacancy 6.69%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$85,224

INVESTMENT

$85,224

Down Payment
$74,975
Rehab Estimate
$5,750
Closing Costs
$4,499

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,107

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $74,975
Loan Amount $224,925
See What Happens When You Reinvest Cash Flow

3.33

YEARS SAVED

$9,938

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,790

    LIST RENT
  • $1.33

    LIST RENT PER SQFT
  • $1,783

    COMP ESTIMATED VALUE
  • $1.33

    COMP AVG. RENT PER SQFT
Comps Range
$1,700
1$1,7002$1,7903$1,8754$1,8755$1,995
$1,995
RENT COMPS ANALYSIS
  • 1214 Circle View Court Grapevine, TX 2
    • 3 beds 2 baths ∙ 1,346 Sqft ∙ Built 1985 3 beds 2 baths ∙ 1,346 Sqft ∙ Built 1985
    • Rent
    • Rent Per SQFT
    •  
    • $1,790
    • $1.33
    •  
  • 1450 Hampton Road Grapevine, TX 1
    • 3 beds 2 baths ∙ 1,276 Sqft ∙ Built 1986 3 beds 2 baths ∙ 1,276 Sqft ∙ Built 1986
    LEASED 08/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $1.33
    •  
  • 1406 Briarcrest Drive Grapevine, TX 3
    • 3 beds 2 baths ∙ 1,419 Sqft ∙ Built 1985 3 beds 2 baths ∙ 1,419 Sqft ∙ Built 1985
    LEASED 01/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,875
    • $1.32
    •  
  • 1510 Briarcrest Grapevine, TX 4
    • 3 beds 2 baths ∙ 1,489 Sqft ∙ Built 1986 3 beds 2 baths ∙ 1,489 Sqft ∙ Built 1986
    LEASED 08/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,875
    • $1.26
    •  
  • 2121 Pritchard Drive Grapevine, TX 5
    • 3 beds 3 baths ∙ 1,436 Sqft ∙ Built 1999 3 beds 3 baths ∙ 1,436 Sqft ∙ Built 1999
    LEASED 06/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $1.39
    •  
PROPERTY LISTING DETAILS
Jason Couch
Epic National Realty, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14413889
Last Updated: 08/23/2020
BESbswy