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1846 Johnson Court Grapevine, TX 76051

4 Beds 3 Baths 2,994 sqft Built 2004

$525,000

List Price

$3,280

$3K - $3.5K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 25, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2004
  • Price/Sqft : $175.35
  • 4 Days on Market
  • MLS # : 14537541
  • Updated Date : 03/27/2021 at 11:40
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,994 sqft
  • Baths : 3 full
Listing Agent

Century 21 Mike Bowman, Inc.

Listing Agent's Description

***HIGHEST & BEST BY 3-29 @ 5:00pm. RARE FIND! BEAUTIFULLY MAINTAINED HOME IN GRAPEVINE ZONED FOR CARROLL ISD. This home boasts a timeless design with a flexible family friendly floor plan to accommodate your needs. Floor plan to include 4 bedrooms downstairs, an office, formal dining, open concept living room kitchen and breakfast nook PLUS a large flex room upstairs that could be a 5th bedroom if needed. This cul de sac lot is the perfect set up for your children to play in a family friendly neighborhood. Enjoy the covered back porch taking in the beautifully landscaped backyard. Ideal location with close proximity to shopping, dining, schools and the highway for an easy commute.YOU WILL NOT BE DISAPPOINTED!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • . 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)

PRICE & RENT TRENDS

Neighborhood: Johnson Meadow

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500kPrice in $123k545k

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

Neighborhood: Johnson Meadow

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2120014001600180020002200240026002800300032003400Rent in $11263426

* 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
Jack D. Johnson Elementary School Primary Regular 526 37 10
Carroll Senior High School High Regular 1,284 76 10
Jack D. Johnson Elementary School Primary Unknown NA

Jack D. Johnson Elementary School

  • Education Level: Primary
  • # of students: 526
  • # of teachers: 37
10
GreatSchools Rating

Carroll Senior High School

  • Education Level: High
  • # of students: 1,284
  • # of teachers: 76
10
GreatSchools Rating

Jack D. Johnson Elementary School

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

$472,500$577,500$525,000

PURCHASE PRICE

$2,952$3,608$3,280

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,280
EXPENSES Loan Payment -$1,824
Property Tax -$998
Property Insurance -$200
Property Management Fees -$99
CASH FLOW
$160

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.

$525,000

PROJECTED PRICE

$3,280

PROJECTED RENT

0.62%

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$1.6M$1.8M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M$1.6M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$144,875

INVESTMENT

$144,875

Down Payment
$131,250
Rehab Estimate
$5,750
Closing Costs
$7,875

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,824

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $131,250
Loan Amount $393,750
See What Happens When You Reinvest Cash Flow

6.17

YEARS SAVED

$37,581

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,280

    LIST RENT
  • $1.1

    LIST RENT PER SQFT
  • $2,972

    COMP ESTIMATED VALUE
  • $0.99

    COMP AVG. RENT PER SQFT
Comps Range
$2,600
1$2,6002$2,9003$3,0004$3,1005$3,280
$3,280
RENT COMPS ANALYSIS
  • 1846 Johnson Court Grapevine, TX 5
    • 4 beds 3 baths ∙ 2,994 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,994 Sqft ∙ Built 2004
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $3,280
    • $1.10
    •  
  • 2133 Brentcove Drive Grapevine, TX 1
    • 4 beds 3 baths ∙ 2,797 Sqft ∙ Built 1993 4 beds 3 baths ∙ 2,797 Sqft ∙ Built 1993
    property image
    LEASED 07/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $0.93
    •  
  • 2081 Brookgate Drive Grapevine, TX 2
    • 4 beds 4 baths ∙ 2,985 Sqft ∙ Built 1994 4 beds 4 baths ∙ 2,985 Sqft ∙ Built 1994
    property image
    LEASED 09/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,900
    • $0.97
    •  
  • 1068 Rosewood Drive Grapevine, TX 3
    • 4 beds 3 baths ∙ 2,795 Sqft ∙ Built 1993 4 beds 3 baths ∙ 2,795 Sqft ∙ Built 1993
    property image
    LEASED 08/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $1.07
    •  
  • 2669 Pinehurst Drive Grapevine, TX 4
    • 5 beds 3 baths ∙ 3,088 Sqft ∙ Built 1998 5 beds 3 baths ∙ 3,088 Sqft ∙ Built 1998
    property image
    LEASED 08/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,100
    • $1.00
    •  
PROPERTY LISTING DETAILS
Rebekah Gilbert
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 #: 14537541
Last Updated: 03/27/2021
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