Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

1703 Altacrest Drive Grapevine, TX 76051

4 Beds 3 Baths 2,513 sqft Built 1987

$437,900

List Price

$2,580

$2.3K - $2.8K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 25, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1987
  • Price/Sqft : $174.25
  • 4 Days on Market
  • MLS # : 14521860
  • Updated Date : 02/27/2021 at 12:18
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,513 sqft
  • Baths : 2 full , 1 half
Listing Agent

Top Texas Realty

Listing Agent's Description

***MULTIPLE OFFERS, HIGEST AND BEST BY 6PM SUNDAY, FEB 28*** Absolutely gorgeous home!! Completely updated with nice open floor plan and lots of natural light in highly sought after Glade Landing. This stylish home offers Fireplaces in 3 rooms for those cold winters, Open vaulted ceilings, 3 living areas, 4 bedrooms (one of which makes a great study with separate access to yard). New wood flooring installed in August, New 8' Privacy fence just completed and stained. Gourmet kitchen is great for entertaining as well as the back yard that flows from the pergola covered patio to the play area to the wood deck! Updated fixtures throughout, Nest thermostat, see list of all updates in attachments.

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: Glade Landing

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360kPrice in $123k378k

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

Neighborhood: Glade Landing

NeighborhoodNIR Market*CityMarket2010Year20002019 Q212001300140015001600170018001900200021002200230024002500Rent in $11262565

* 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
Grapevine Elementary School Primary Regular 531 34 9
Colleyville Heritage High School High Regular 2,222 135 8
Colleyville Heritage High School High Unknown NA

Grapevine Elementary School

  • Education Level: Primary
  • # of students: 531
  • # of teachers: 34
9
GreatSchools Rating

Colleyville Heritage High School

  • Education Level: High
  • # of students: 2,222
  • # of teachers: 135
8
GreatSchools Rating

Colleyville Heritage High School

  • Education Level: High
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$394,110$481,690$437,900

PURCHASE PRICE

$2,322$2,838$2,580

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,580
EXPENSES Loan Payment -$1,521
Property Tax -$832
Property Insurance -$172
Property Management Fees -$99
CASH FLOW
-$45

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.

$437,900

PROJECTED PRICE

$2,580

PROJECTED RENT

0.59%

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-$5.0k$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$121,794

INVESTMENT

$121,794

Down Payment
$109,475
Rehab Estimate
$5,750
Closing Costs
$6,569

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,521

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $109,475
Loan Amount $328,425
See What Happens When You Reinvest Cash Flow

4

YEARS SAVED

$16,771

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,580

    LIST RENT
  • $1.03

    LIST RENT PER SQFT
  • $2,582

    COMP ESTIMATED VALUE
  • $1.03

    COMP AVG. RENT PER SQFT
Comps Range
$2,295
1$2,2952$2,3503$2,5804$2,6005$2,795
$2,795
RENT COMPS ANALYSIS
  • 1703 Altacrest Drive Grapevine, TX 3
    • 4 beds 3 baths ∙ 2,513 Sqft ∙ Built 1987 4 beds 3 baths ∙ 2,513 Sqft ∙ Built 1987
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,580
    • $1.03
    •  
  • 2815 Baze Road Euless, TX 1
    • 4 beds 3 baths ∙ 2,342 Sqft ∙ Built 1992 4 beds 3 baths ∙ 2,342 Sqft ∙ Built 1992
    property image
    LEASED 07/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,295
    • $0.98
    •  
  • 1721 Altacrest Drive Grapevine, TX 2
    • 3 beds 2 baths ∙ 2,335 Sqft ∙ Built 1991 3 beds 2 baths ∙ 2,335 Sqft ∙ Built 1991
    property image
    LEASED 09/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $1.01
    •  
  • 802 Kodiak Circle Euless, TX 4
    • 4 beds 3 baths ∙ 2,478 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,478 Sqft ∙ Built 2004
    property image
    LEASED 03/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $1.05
    •  
  • 1713 Brettenmeadow Drive Grapevine, TX 5
    • 5 beds 3 baths ∙ 2,605 Sqft ∙ Built 1990 5 beds 3 baths ∙ 2,605 Sqft ∙ Built 1990
    property image
    LEASED 10/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,795
    • $1.07
    •  
PROPERTY LISTING DETAILS
Sandra Mercer
Top Texas Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14521860
Last Updated: 02/27/2021
BESbswy