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1309 Bayou Road Grapevine, TX 76051

3 Beds 2 Baths 1,769 sqft Built 1984

$390,000

List Price

$2,000

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

February 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1984
  • Price/Sqft : $220.46
  • 2 Days on Market
  • MLS # : 14516886
  • Updated Date : 02/13/2021 at 20:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,769 sqft
  • Baths : 2 full
Listing Agent

Exp Realty Llc

Listing Agent's Description

Amazing location, walk to Grapevine Lake OR Historical Main Street Downtown Grapevine! 3 bed, 2 bath home for sale in Lakewood Acres and backing to a serene and private small creek. Large covered patio perfect for entertaining. Waterproof luxury laminate flooring installed in 2019 throughout. Fresh interior paint throughout in 2019. Beautiful and bright kitchen with stainless appliances, breakfast bar, and breakfast nook with vaulted ceiling. Large utility area for washer and dryer with extra storage. Spacious great room with vaulted ceilings, wood burning fireplace and windows overlooking the backyard. Master suite has his hers closets, separate tub and shower and vanities. TENANT OCCUPIED DO NOT DISTURB.

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

Neighborhood: Lakewood Acres Grapevine

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360kPrice in $123k374k

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

Neighborhood: Lakewood Acres Grapevine

NeighborhoodNIR Market*CityMarket2010Year20002019 Q212001300140015001600170018001900200021002200230024002500Rent in $11022539

* 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
 

$351,000$429,000$390,000

PURCHASE PRICE

$1,800$2,200$2,000

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,000
EXPENSES Loan Payment -$1,355
Property Tax -$741
Property Insurance -$129
Property Management Fees -$99
CASH FLOW
-$324

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.

$390,000

PROJECTED PRICE

$2,000

PROJECTED RENT

0.51%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 7.2%
Maintenance Year (1-5) 8.00%
Vacancy 6.93%
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-$8.0k-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$109,100

INVESTMENT

$109,100

Down Payment
$97,500
Rehab Estimate
$5,750
Closing Costs
$5,850

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,355

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $97,500
Loan Amount $292,500
See What Happens When You Reinvest Cash Flow

1.08

YEARS SAVED

$1,790

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,000

    LIST RENT
  • $1.13

    LIST RENT PER SQFT
  • $2,105

    COMP ESTIMATED VALUE
  • $1.19

    COMP AVG. RENT PER SQFT
Comps Range
$1,900
1$1,9002$1,9253$1,9504$1,9955$2,000
$2,000
RENT COMPS ANALYSIS
  • 1309 Bayou Road Grapevine, TX 5
    • 3 beds 2 baths ∙ 1,769 Sqft ∙ Built 1984 3 beds 2 baths ∙ 1,769 Sqft ∙ Built 1984
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $1.13
    •  
  • 707 N Riverside Drive Grapevine, TX 1
    • 3 beds 2 baths ∙ 1,606 Sqft ∙ Built 1980 3 beds 2 baths ∙ 1,606 Sqft ∙ Built 1980
    LEASED 12/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $1.18
    •  
  • 1001 Cable Creek Drive Grapevine, TX 2
    • 3 beds 2 baths ∙ 1,601 Sqft ∙ Built 1995 3 beds 2 baths ∙ 1,601 Sqft ∙ Built 1995
    LEASED 01/23/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,925
    • $1.20
    •  
  • 1409 Bayou Road Grapevine, TX 3
    • 3 beds 2 baths ∙ 1,756 Sqft ∙ Built 1984 3 beds 2 baths ∙ 1,756 Sqft ∙ Built 1984
    LEASED 07/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $1.11
    •  
  • 1829 Teton Drive Grapevine, TX 4
    • 3 beds 2 baths ∙ 1,574 Sqft ∙ Built 1984 3 beds 2 baths ∙ 1,574 Sqft ∙ Built 1984
    LEASED 06/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $1.27
    •  
PROPERTY LISTING DETAILS
Jon Sutton
Exp Realty Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14516886
Last Updated: 02/13/2021
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