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1426 Mockingbird Drive Grapevine, TX 76051

3 Beds 2 Baths 1,364 sqft Built 1987

$325,000

List Price

$1,760

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

February 05, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1987
  • Price/Sqft : $238.27
  • 3 Days on Market
  • MLS # : 14511030
  • Updated Date : 02/06/2021 at 23:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,364 sqft
  • Baths : 2 full
Listing Agent

Re/max Trinity

Listing Agent's Description

WOW! Knock-Out home! Awesome neighborhood - walk to lake, Hike & Bike trails & marina! Long list of upgrades in 2020, Roof, HVAC, guttering, all kitchen appliances, paint inside &out, engineered hardwood in all bdrms & much more!! Absolutely in MOVE-IN condition. All measurements, taxes, etc are approx - buyer to verify all info shown.

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: 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
 

$292,500$357,500$325,000

PURCHASE PRICE

$1,584$1,936$1,760

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,760
EXPENSES Loan Payment -$1,129
Property Tax -$618
Property Insurance -$106
Property Management Fees -$99
CASH FLOW
-$191

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.

$325,000

PROJECTED PRICE

$1,760

PROJECTED RENT

0.54%

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$91,875

INVESTMENT

$91,875

Down Payment
$81,250
Rehab Estimate
$5,750
Closing Costs
$4,875

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,129

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $81,250
Loan Amount $243,750
See What Happens When You Reinvest Cash Flow

1.75

YEARS SAVED

$3,878

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,760

    LIST RENT
  • $1.29

    LIST RENT PER SQFT
  • $1,753

    COMP ESTIMATED VALUE
  • $1.29

    COMP AVG. RENT PER SQFT
Comps Range
$1,650
1$1,6502$1,7603$1,8754$1,9005$2,000
$2,000
RENT COMPS ANALYSIS
  • 1426 Mockingbird Drive Grapevine, TX 2
    • 3 beds 2 baths ∙ 1,364 Sqft ∙ Built 1987 3 beds 2 baths ∙ 1,364 Sqft ∙ Built 1987
    • Rent
    • Rent Per SQFT
    •  
    • $1,760
    • $1.29
    •  
  • 2204 Thistlewood Court Grapevine, TX 1
    • 3 beds 2 baths ∙ 1,438 Sqft ∙ Built 1986 3 beds 2 baths ∙ 1,438 Sqft ∙ Built 1986
    LEASED 05/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.15
    •  
  • 1510 Briarcrest Grapevine, TX 3
    • 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
    •  
  • 1404 Laguna Vista Way Grapevine, TX 4
    • 3 beds 2 baths ∙ 1,398 Sqft ∙ Built 1985 3 beds 2 baths ∙ 1,398 Sqft ∙ Built 1985
    LEASED 10/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $1.36
    •  
  • 1510 Laguna Vista Way Grapevine, TX 5
    • 3 beds 2 baths ∙ 1,459 Sqft ∙ Built 1988 3 beds 2 baths ∙ 1,459 Sqft ∙ Built 1988
    LEASED 06/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $1.37
    •  
PROPERTY LISTING DETAILS
Cyndi Powell
Re/max Trinity
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14511030
Last Updated: 02/06/2021
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