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1733 Sonnet Drive Grapevine, TX 76051

3 Beds 2 Baths 1,715 sqft Built 1992

$375,000

List Price

$2,150

$1.9K - $2.4K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 05, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1992
  • Price/Sqft : $218.66
  • 3 Days on Market
  • MLS # : 14527492
  • Updated Date : 03/05/2021 at 19:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,715 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Realty-fm

Listing Agent's Description

You will love relaxing in the great outsdoor space with sparkling pool and sap on a large corner lot. Welcome to the amazing town of Grapevine wheer you are minutes away from great entertainment! THis home has been updated with new exterior paint, new luxury plank vinyl flooring and new appliances. Great floorplan with large master suite, updated master batha nd amazing closet system. 3rd bedroom can be a nice virtual home workspace. Hurry in on this one. Open house Sat and Sun 12 to 3.

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: Hunters Ridge Grapevine

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360kPrice in $122k374k

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

Neighborhood: Hunters Ridge Grapevine

NeighborhoodNIR Market*CityMarket2010Year20002019 Q212001300140015001600170018001900200021002200230024002500Rent in $11262539

* 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
 

$337,500$412,500$375,000

PURCHASE PRICE

$1,935$2,365$2,150

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,150
EXPENSES Loan Payment -$1,303
Property Tax -$713
Property Insurance -$126
Property Management Fees -$99
CASH FLOW
-$90

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.

$375,000

PROJECTED PRICE

$2,150

PROJECTED RENT

0.57%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 7.2%
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$1.2M

PROJECTED ANNUAL CASH FLOW

11530-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

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$105,125

INVESTMENT

$105,125

Down Payment
$93,750
Rehab Estimate
$5,750
Closing Costs
$5,625

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,303

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $93,750
Loan Amount $281,250
See What Happens When You Reinvest Cash Flow

3.42

YEARS SAVED

$11,334

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,150

    LIST RENT
  • $1.25

    LIST RENT PER SQFT
  • $2,208

    COMP ESTIMATED VALUE
  • $1.29

    COMP AVG. RENT PER SQFT
Comps Range
$1,995
1$1,9952$1,9993$2,0004$2,1005$2,150
$2,150
RENT COMPS ANALYSIS
  • 1733 Sonnet Drive Grapevine, TX 5
    • 3 beds 2 baths ∙ 1,715 Sqft ∙ Built 1992 3 beds 2 baths ∙ 1,715 Sqft ∙ Built 1992
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $1.25
    •  
  • 1403 Laguna Vista Way Grapevine, TX 1
    • 3 beds 3 baths ∙ 1,604 Sqft ∙ Built 1985 3 beds 3 baths ∙ 1,604 Sqft ∙ Built 1985
    LEASED 10/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $1.24
    •  
  • 1525 Briarcrest Drive Grapevine, TX 2
    • 3 beds 2 baths ∙ 1,615 Sqft ∙ Built 1985 3 beds 2 baths ∙ 1,615 Sqft ∙ Built 1985
    LEASED 08/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,999
    • $1.24
    •  
  • 1548 Dublin Circle Grapevine, TX 3
    • 3 beds 2 baths ∙ 1,515 Sqft ∙ Built 1989 3 beds 2 baths ∙ 1,515 Sqft ∙ Built 1989
    LEASED 03/02/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $1.32
    •  
  • 1803 Autumn Ridge Lane Grapevine, TX 4
    • 3 beds 2 baths ∙ 1,552 Sqft ∙ Built 1992 3 beds 2 baths ∙ 1,552 Sqft ∙ Built 1992
    LEASED 07/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.35
    •  
PROPERTY LISTING DETAILS
Kimberly Windle
Keller Williams Realty-fm
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14527492
Last Updated: 03/05/2021
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