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1701 Cowpoke Road Granbury, TX 76049

3 Beds 2 Baths 1,908 sqft Built 2010

INVESTimate

$230,000

List Price

$1,800

$1,620 - $1,980

Rent Est.

$243,225  ( +5.75%)   1 YR EST. FORECAST

PROPERTY INFO

August 23, 2020 RECENTLY ADDED
FACTS
  • Built In 2010
  • Price/Sqft : $120.55
  • 4 Days on Market
  • MLS # : 14419180
  • Updated Date : 08/24/2020 at 07:41
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,908 sqft
  • Baths : 2 full
Listing Agent

Fathom Realty, Llc

Listing Agent's Description

Stunning Home on a double lot near Lake Granbury Outside the city limits. Only two blocks from the community boat ramp. This home has a new roof, fresh paint, and freshly remodeled bathrooms and remodeled kitchen with granite counter tops. Beautiful ceramic tile and hand scraped acacia throughout the home with a rustic sliding barn door decor. Master bedroom has a large walk in closet and on suite bathroom with claw foot tub and shower. The secondary bedroom can be split to convert into two bedrooms. Garage conversion makes a spacious bedroom with a large closet. Wonderful open backyard for outdoor fun and grilling. RV hookup on the side of the home. Come check out this adorable home before it is gone.

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: 76049

ZipNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240kPrice in $96k250k

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

Zip Code: 76049

ZipNIR Market*CityMarket2010Year20002019 Q2115012001250130013501400145015001550160016501700Rent in $11261734

* 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
 

$207,000$253,000$230,000

PURCHASE PRICE

$1,620$1,980$1,800

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,800
EXPENSES Loan Payment -$849
Property Tax -$312
Property Insurance -$137
HOA -$7
Property Management Fees -$99
CASH FLOW
$396

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.

$230,000

PROJECTED PRICE

$1,800

PROJECTED RENT

0.78%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 5.75%
Maintenance Year (1-5) 8.00%
Vacancy 6.39%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$66,700

INVESTMENT

$66,700

Down Payment
$57,500
Rehab Estimate
$5,750
Closing Costs
$3,450

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 25% down payment or higher enables the proceeds from the asset to cover all costs.

$849

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $57,500
Loan Amount $172,500
See What Happens When You Reinvest Cash Flow

13.25

YEARS SAVED

$55,993

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,800

    LIST RENT
  • $0.94

    LIST RENT PER SQFT
  • $1,860

    COMP ESTIMATED VALUE
  • $0.98

    COMP AVG. RENT PER SQFT
Comps Range
$1,500
1$1,5002$1,6503$1,7004$1,8005$2,300
$2,300
RENT COMPS ANALYSIS
  • 1701 Cowpoke Road Granbury, TX 4
    • 3 beds 2 baths ∙ 1,908 Sqft ∙ Built 2010 3 beds 2 baths ∙ 1,908 Sqft ∙ Built 2010
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.94
    •  
  • 1111 Calinco Drive Granbury, TX 1
    • 3 beds 2 baths ∙ 1,558 Sqft ∙ Built 1996 3 beds 2 baths ∙ 1,558 Sqft ∙ Built 1996
    property image
    LEASED 11/05/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.96
    •  
  • 1310 W Chippewa Trail Granbury, TX 2
    • 3 beds 2 baths ∙ 1,606 Sqft ∙ Built 2007 3 beds 2 baths ∙ 1,606 Sqft ∙ Built 2007
    property image
    LEASED 04/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.03
    •  
  • 1105 Calinco Drive Granbury, TX 3
    • 3 beds 2 baths ∙ 1,980 Sqft ∙ Built 1998 3 beds 2 baths ∙ 1,980 Sqft ∙ Built 1998
    property image
    LEASED 05/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.86
    •  
  • 1400 Carnoustie Court Granbury, TX 5
    • 3 beds 2 baths ∙ 2,193 Sqft ∙ Built 2017 3 beds 2 baths ∙ 2,193 Sqft ∙ Built 2017
    property image
    LEASED 04/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.05
    •  
PROPERTY LISTING DETAILS
Troy Lucus
Fathom Realty, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14419180
Last Updated: 08/24/2020
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