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1333 Highland Park Circle Granbury, TX 76048

3 Beds 2 Baths 2,230 sqft Built 2020

$374,325

List Price

$2,220

$2K - $2.4K

Rent Est.

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
November 07, 2020 RECENTLY ADDED
FACTS
  • Built In 2020
  • Price/Sqft : $167.86
  • 2 Days on Market
  • MLS # : 14466215
  • Updated Date : 11/07/2020 at 12:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,230 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Realty

Listing Agent's Description

Beautiful NEW Build construction that will be a nice Christmas gift to open. This home is a 3 bedroom 2 bath with a 2 car garage in one of the newest subdivisions in Granbury. Highland Park Bay is a 55 and over garden home development and is nestled between Catalina Bay and Waters Edge. Rock Ridge homes is the builder of this New construction and this father son team have beautiful new homes in Highland Bay, Harbor Lakes, Catalina Bay, Pecan Plantation and Godley. This home will have granite throughout in kitchen and baths, as well as ceramic tile & carpet, with beautiful finish inside. Home will have sprinkler system, gutters around house, and comes foamed encapsilated for insulation.

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
 

$336,893$411,758$374,325

PURCHASE PRICE

$1,998$2,442$2,220

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,220
EXPENSES Loan Payment -$1,381
Property Tax -$507
Property Insurance -$156
HOA -$95
Property Management Fees -$99
CASH FLOW
-$18

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.

$374,325

PROJECTED PRICE

$2,220

PROJECTED RENT

0.59%

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

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

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$101,196

INVESTMENT

$101,196

Down Payment
$93,581
Rehab Estimate
$2,000
Closing Costs
$5,615

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,381

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $93,581
Loan Amount $280,744
See What Happens When You Reinvest Cash Flow

4.58

YEARS SAVED

$21,247

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,220

    LIST RENT
  • $1

    LIST RENT PER SQFT
  • $2,252

    COMP ESTIMATED VALUE
  • $1.01

    COMP AVG. RENT PER SQFT
Comps Range
$2,220
1$2,2202$2,2503$2,3004$2,3255$2,350
$2,350
RENT COMPS ANALYSIS
  • 1333 Highland Park Circle Granbury, TX 1
    • 3 beds 2 baths ∙ 2,230 Sqft ∙ Built 2020 3 beds 2 baths ∙ 2,230 Sqft ∙ Built 2020
    • Rent
    • Rent Per SQFT
    •  
    • $2,220
    • $1.00
    •  
  • 2109 N Rough Creek Court Granbury, TX 2
    • 3 beds 2 baths ∙ 2,118 Sqft ∙ Built 2020 3 beds 2 baths ∙ 2,118 Sqft ∙ Built 2020
    LEASED 05/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $1.06
    •  
  • 1818 N Harbor Court Granbury, TX 3
    • 4 beds 2 baths ∙ 2,370 Sqft ∙ Built 2019 4 beds 2 baths ∙ 2,370 Sqft ∙ Built 2019
    LEASED 07/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.97
    •  
  • 1707 Troon Court Granbury, TX 4
    • 4 beds 2 baths ∙ 2,333 Sqft ∙ Built 2017 4 beds 2 baths ∙ 2,333 Sqft ∙ Built 2017
    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
    LEASED 10/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $1.01
    •  
PROPERTY LISTING DETAILS
Steve Berry
Keller Williams Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14466215
Last Updated: 11/07/2020
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