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1408 Tiffany Forest Lane Grapevine, TX 76051

3 Beds 2 Baths 2,814 sqft Built 1980

$399,900

List Price

$2,620

$2.4K - $2.9K

Rent Est.

PROPERTY INFO

January 03, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1980
  • Price/Sqft : $142.11
  • 1 Days on Market
  • MLS # : 14492828
  • Updated Date : 01/03/2021 at 00:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,814 sqft
  • Baths : 2 full
Listing Agent

League Real Estate

Listing Agent's Description

**OPEN HOUSE: SUNDAY, JAN 3, 2021 2-4PM. Peaceful backyard on a gorgeous treed lot located in desirable GCISD! Beautiful and spacious living room with vaulted ceilings. Wonderful space for entertaining. 3 bedrooms and 2 bathrooms with a flexible bonus space off of the Master Bedroom. Bonus space could be used as an office, exercise room, nursery~so many options! Game Room upstairs could be converted into a 4th bedroom, if desired. New hot water heater installed in the Fall of 2020. Nestled in a highly sought after location near Grapevine lake, historic downtown Grapevine and easy access to DFW airport. Enjoy close proximity to Southlake shopping, Dove Pool and Dove Park! There is much to love about this home!

SEE MORE

MARKET HIGHLIGHTS

  • # 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)
  • . Dallas has 7th largest concentration of high-tech jobs in the U.S. (Dallas Chamber)

PRICE & RENT TRENDS

Neighborhood: Tiffany Forest

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360kPrice in $123k374k

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

Neighborhood: Tiffany Forest

NeighborhoodNIR Market*CityMarket2010Year20002019 Q212001300140015001600170018001900200021002200230024002500Rent in $11262539

* 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
 

$359,910$439,890$399,900

PURCHASE PRICE

$2,358$2,882$2,620

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,620
EXPENSES Loan Payment -$1,475
Property Tax -$760
Property Insurance -$190
Property Management Fees -$99
CASH FLOW
$96

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.

$399,900

PROJECTED PRICE

$2,620

PROJECTED RENT

0.66%

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$1.4M

PROJECTED ANNUAL CASH FLOW

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

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$111,724

INVESTMENT

$111,724

Down Payment
$99,975
Rehab Estimate
$5,750
Closing Costs
$5,999

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,475

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $99,975
Loan Amount $299,925
See What Happens When You Reinvest Cash Flow

5.83

YEARS SAVED

$31,508

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,620

    LIST RENT
  • $0.93

    LIST RENT PER SQFT
  • $2,835

    COMP ESTIMATED VALUE
  • $1.01

    COMP AVG. RENT PER SQFT
Comps Range
$2,600
1$2,6002$2,6203$2,8004$2,9005$3,000
$3,000
RENT COMPS ANALYSIS
  • 1408 Tiffany Forest Lane Grapevine, TX 2
    • 3 beds 2 baths ∙ 2,814 Sqft ∙ Built 1980 3 beds 2 baths ∙ 2,814 Sqft ∙ Built 1980
    • Rent
    • Rent Per SQFT
    •  
    • $2,620
    • $0.93
    •  
  • 2133 Brentcove Drive Grapevine, TX 1
    • 4 beds 3 baths ∙ 2,797 Sqft ∙ Built 1993 4 beds 3 baths ∙ 2,797 Sqft ∙ Built 1993
    LEASED 07/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $0.93
    •  
  • 1036 S Aspenwood Drive Grapevine, TX 3
    • 4 beds 3 baths ∙ 2,637 Sqft ∙ Built 1993 4 beds 3 baths ∙ 2,637 Sqft ∙ Built 1993
    LEASED 08/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $1.06
    •  
  • 2081 Brookgate Drive Grapevine, TX 4
    • 4 beds 4 baths ∙ 2,985 Sqft ∙ Built 1994 4 beds 4 baths ∙ 2,985 Sqft ∙ Built 1994
    LEASED 09/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,900
    • $0.97
    •  
  • 1068 Rosewood Drive Grapevine, TX 5
    • 4 beds 3 baths ∙ 2,795 Sqft ∙ Built 1993 4 beds 3 baths ∙ 2,795 Sqft ∙ Built 1993
    LEASED 08/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $1.07
    •  
PROPERTY LISTING DETAILS
Aubrey Wright
League Real Estate
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14492828
Last Updated: 01/03/2021
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