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1416 Mockingbird Drive Grapevine, TX 76051

3 Beds 2 Baths 1,596 sqft Built 1987

$320,000

List Price

$1,830

$1.6K - $2K

Rent Est.

PROPERTY INFO

December 24, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1987
  • Price/Sqft : $200.50
  • 4 Days on Market
  • MLS # : 14489461
  • Updated Date : 12/24/2020 at 14:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,596 sqft
  • Baths : 2 full
Listing Agent

Ebby Halliday, Realtors Plano

Listing Agent's Description

This Dove Crossing Beauty is perfectly situated to enjoy close proximity to Lake Grapevine and the beautiful trails around the lake. Centrally located for commutes in any direction and minutes from DFW Airport. Prior Owner installed new roof and HVAC systems in 2015. Unique and beautiful wood stamped concrete flooring in living area and hallways. Private Master Retreat has sitting area and doorway into backyard patio. Start off the New Year in this great home. No Showings until Monday, December 28.

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: Dove Crossing

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360kPrice in $122k374k

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

Neighborhood: Dove Crossing

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001200140016001800200022002400Rent in $9642539

* 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
Dove Elementary School Primary Regular 546 35 5
Grapevine Middle School Middle Regular 733 49 5
Grapevine High School High Regular 2,015 129 7

Dove Elementary School

  • Education Level: Primary
  • # of students: 546
  • # of teachers: 35
5
GreatSchools Rating

Grapevine Middle School

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

Grapevine High School

  • Education Level: High
  • # of students: 2,015
  • # of teachers: 129
7
GreatSchools Rating
 

$288,000$352,000$320,000

PURCHASE PRICE

$1,647$2,013$1,830

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,830
EXPENSES Loan Payment -$1,181
Property Tax -$608
Property Insurance -$119
Property Management Fees -$99
CASH FLOW
-$177

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 14% of earned rent to cover both maintenance and periods of vacancy.

$320,000

PROJECTED PRICE

$1,830

PROJECTED RENT

0.57%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 10.0%
Maintenance Year (1-5) 8.00%
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-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k

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$90,550

INVESTMENT

$90,550

Down Payment
$80,000
Rehab Estimate
$5,750
Closing Costs
$4,800

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,181

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $80,000
Loan Amount $240,000
See What Happens When You Reinvest Cash Flow

2.25

YEARS SAVED

$6,040

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,830

    LIST RENT
  • $1.15

    LIST RENT PER SQFT
  • $1,843

    COMP ESTIMATED VALUE
  • $1.16

    COMP AVG. RENT PER SQFT
Comps Range
$1,830
1$1,8302$1,8503$1,8954$1,9955$2,000
$2,000
RENT COMPS ANALYSIS
  • 1416 Mockingbird Drive Grapevine, TX 1
    • 3 beds 2 baths ∙ 1,596 Sqft ∙ Built 1987 3 beds 2 baths ∙ 1,596 Sqft ∙ Built 1987
    • Rent
    • Rent Per SQFT
    •  
    • $1,830
    • $1.15
    •  
  • 1405 Thistlewood Lane Grapevine, TX 2
    • 3 beds 3 baths ∙ 1,650 Sqft ∙ Built 1985 3 beds 3 baths ∙ 1,650 Sqft ∙ Built 1985
    LEASED 07/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $1.12
    •  
  • 2212 Thistlewood Court Grapevine, TX 3
    • 3 beds 3 baths ∙ 1,726 Sqft ∙ Built 1986 3 beds 3 baths ∙ 1,726 Sqft ∙ Built 1986
    LEASED 01/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $1.10
    •  
  • 1403 Laguna Vista Way Grapevine, TX 4
    • 3 beds 3 baths ∙ 1,604 Sqft ∙ Built 1985 3 beds 3 baths ∙ 1,604 Sqft ∙ Built 1985
    LEASED 10/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $1.24
    •  
  • 1602 Stoneway Drive Grapevine, TX 5
    • 3 beds 3 baths ∙ 1,726 Sqft ∙ Built 1985 3 beds 3 baths ∙ 1,726 Sqft ∙ Built 1985
    LEASED 08/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $1.16
    •  
PROPERTY LISTING DETAILS
Laura Jeter
Ebby Halliday, Realtors Plano
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14489461
Last Updated: 12/24/2020
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