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1605 Harbor Lakes Drive Granbury, TX 76048

3 Beds 3 Baths 2,776 sqft Built 2015

INVESTimate

$452,500

List Price

$2,390

$2,151 - $2,629

Rent Est.

$476,709  ( +5.35%)   1 YR EST. FORECAST

PROPERTY INFO

August 25, 2020 RECENTLY ADDED
FACTS
  • Built In 2015
  • Price/Sqft : $163.00
  • 2 Days on Market
  • MLS # : 14419720
  • Updated Date : 08/25/2020 at 10:22
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,776 sqft
  • Baths : 2 full , 1 half
Listing Agent

Winston Properties, Llc

Listing Agent's Description

Elegant one level golf course Harbor Lakes, Couto built home with custom built-ins in living area and office! Located near the 7th hole on the golf course with view of Lake Granbury. Beautiful wide plank hardwood floors throughout the home, with carpets only in the bedrooms. Coffered ceilings, fireplace in livingroom, covered pergola for peaceful views of golf course. Huge master closet that conveniently connects to the laundry room. Master bath has tumbled marble, with ceramic tile in secondary bathroom. New roof April 2020. Centrally located in town to shopping, restaurants, medical and the Historic Granbury Square. Laundry room has space for secondary fridge or freezer.

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
 

$407,250$497,750$452,500

PURCHASE PRICE

$2,151$2,629$2,390

RENT

DOWN PAYMENT
FINANCING

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-$5.0k$0.0$5.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,390
EXPENSES Loan Payment -$1,670
Property Tax -$613
Property Insurance -$188
HOA -$42
Property Management Fees -$99
CASH FLOW
-$221

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.

$452,500

PROJECTED PRICE

$2,390

PROJECTED RENT

0.53%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 5.35%
Maintenance Year (1-5) 8.00%
Vacancy 6.39%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$125,663

INVESTMENT

$125,663

Down Payment
$113,125
Rehab Estimate
$5,750
Closing Costs
$6,788

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,670

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $113,125
Loan Amount $339,375
See What Happens When You Reinvest Cash Flow

2.58

YEARS SAVED

$11,352

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,390

    LIST RENT
  • $0.86

    LIST RENT PER SQFT
  • $2,646

    COMP ESTIMATED VALUE
  • $0.95

    COMP AVG. RENT PER SQFT
Comps Range
$2,300
1$2,3002$2,3903$2,5504$2,800
$2,800
RENT COMPS ANALYSIS
  • 1605 Harbor Lakes Drive Granbury, TX 2
    • 3 beds 3 baths ∙ 2,776 Sqft ∙ Built 2015 3 beds 3 baths ∙ 2,776 Sqft ∙ Built 2015
    • Rent
    • Rent Per SQFT
    •  
    • $2,390
    • $0.86
    •  
  • 2306 Marseilles Court Granbury, TX 1
    • 3 beds 3 baths ∙ 2,733 Sqft ∙ Built 2005 3 beds 3 baths ∙ 2,733 Sqft ∙ Built 2005
    LEASED 01/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.84
    •  
  • 4007 Sioux Court Granbury, TX 3
    • 3 beds 3 baths ∙ 2,595 Sqft ∙ Built 2020 3 beds 3 baths ∙ 2,595 Sqft ∙ Built 2020
    LEASED 06/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,550
    • $0.98
    •  
  • 1210 Mallard Way Granbury, TX 4
    • 3 beds 3 baths ∙ 2,694 Sqft ∙ Built 1998 3 beds 3 baths ∙ 2,694 Sqft ∙ Built 1998
    LEASED 04/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $1.04
    •  
PROPERTY LISTING DETAILS
Ann Winston
Winston Properties, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14419720
Last Updated: 08/25/2020
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