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1705 Damascus Court Granbury, TX 76049

3 Beds 2 Baths 1,694 sqft Built 2020

$277,220

List Price

$1,490

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
SINGLE-FAMILY
February 26, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2020
  • Price/Sqft : $163.65
  • 3 Days on Market
  • MLS # : 14522708
  • Updated Date : 02/26/2021 at 02:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,694 sqft
  • Baths : 2 full
Listing Agent

Century 21 Mike Bowman, Inc.

Listing Agent's Description

AMERICA'S BUILDER D.R. HORTON HAS COME TO GRANBURY!!!~BEAUTIFUL NEW CONSTRUCTION IN THE NEW COMMUNITY OF SARATOGA!*Fabulous single Story 3-2-2 Santa Rosa Floorplan (Elevation G)* Open Concept Living,Dining & Kitchen with Seating Island,abundant Cabinets,Granite Countertops,tiled back splash,W-I Pantry,Stainless Steel Appliances & under mount Sink *Large private Primary Bedroom with dual sink Vanity,Oversize W-I Shower & W-I Closet with built-ins*Home is Connected Technology,Designer pkg including ceramic tiled Entry,Halls & Wet areas,covered back Patio,Gutters,15 SEER HVAC Heat Pump,Low E double pane vinyl windows*Radiant Barrier,6 foot privacy fenced backyard,sprinkler system,landscape pkg & more!

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
Acton Elementary School Primary Regular 727 40 6
Acton Middle School Middle Regular 821 48 6
Granbury High School High Regular 1,414 115 6

Acton Elementary School

  • Education Level: Primary
  • # of students: 727
  • # of teachers: 40
6
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
 

$249,498$304,942$277,220

PURCHASE PRICE

$1,341$1,639$1,490

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,490
EXPENSES Loan Payment -$963
Property Tax -$376
Property Insurance -$125
HOA -$33
Property Management Fees -$99
CASH FLOW
-$106

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 9% of earned rent to cover both maintenance and periods of vacancy.

$277,220

PROJECTED PRICE

$1,490

PROJECTED RENT

0.54%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 5.8%
Maintenance Year (1-5) 3.00%
Vacancy 6.39%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

PROJECTED ANNUAL CASH FLOW

11530-$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$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$75,463

INVESTMENT

$75,463

Down Payment
$69,305
Rehab Estimate
$2,000
Closing Costs
$4,158

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$963

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $69,305
Loan Amount $207,915
See What Happens When You Reinvest Cash Flow

3.08

YEARS SAVED

$6,954

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,490

    LIST RENT
  • $0.88

    LIST RENT PER SQFT
  • $1,512

    COMP ESTIMATED VALUE
  • $0.89

    COMP AVG. RENT PER SQFT
Comps Range
$1,395
1$1,3952$1,3953$1,4904$1,6005$1,800
$1,800
RENT COMPS ANALYSIS
  • 1705 Damascus Court Granbury, TX 3
    • 3 beds 2 baths ∙ 1,694 Sqft ∙ Built 2020 3 beds 2 baths ∙ 1,694 Sqft ∙ Built 2020
    • Rent
    • Rent Per SQFT
    •  
    • $1,490
    • $0.88
    •  
  • 4422 Bobbie Ann Drive Granbury, TX 1
    • 3 beds 2 baths ∙ 1,622 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,622 Sqft ∙ Built 2005
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.86
    •  
  • 210 Bobbie Ann Court Granbury, TX 2
    • 3 beds 2 baths ∙ 1,622 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,622 Sqft ∙ Built 2005
    LEASED 12/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.86
    •  
  • 203 Jacinth Lane Granbury, TX 4
    • 4 beds 2 baths ∙ 1,818 Sqft ∙ Built 2002 4 beds 2 baths ∙ 1,818 Sqft ∙ Built 2002
    LEASED 01/13/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.88
    •  
  • 4206 Agate Drive Granbury, TX 5
    • 4 beds 2 baths ∙ 1,858 Sqft ∙ Built 2012 4 beds 2 baths ∙ 1,858 Sqft ∙ Built 2012
    LEASED 07/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.97
    •  
PROPERTY LISTING DETAILS
Stephen Kahn
Century 21 Mike Bowman, Inc.
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14522708
Last Updated: 02/26/2021
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