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2120 Christine Drive Granbury, TX 76048

3 Beds 2 Baths 1,718 sqft Built 2020

$259,500

List Price

$1,730

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
November 20, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2020
  • Price/Sqft : $151.05
  • 3 Days on Market
  • MLS # : 14474928
  • Updated Date : 11/20/2020 at 14:23
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,718 sqft
  • Baths : 2 full
Listing Agent

Elevate Realty Group

Listing Agent's Description

Brand New custom home in Gated lake subdivision of Granbury. Vaulted and stained-trim ceilings, recessed and decorative lighting, laminate floors throughout, custom trim and cabinetry, custom tiled baths and backsplashes, modern layout and finishes, large master with custom en suite, spacious spare bedrooms. This builder builds with efficiency in mind: double-paned windows, Trane HVAC system, SS Energy Star appliances, highly efficient WH and much more. You'll love the amenities of this subdivision with lake access, clubhouse, pool, playground, park and much more. Hard to find new builds at this price in Granbury! Come see it while you still can!

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

Zip Code: 76048

ZipNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240kPrice in $82k243k

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

Zip Code: 76048

ZipNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700Rent in $9991734

* 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
Mambrino Elementary School Primary Regular 563 34 5
Granbury Middle School Middle Regular 711 50 4
Granbury High School High Regular 1,414 115 6

Mambrino Elementary School

  • Education Level: Primary
  • # of students: 563
  • # of teachers: 34
5
GreatSchools Rating

Granbury Middle School

  • Education Level: Middle
  • # of students: 711
  • # of teachers: 50
4
GreatSchools Rating

Granbury High School

  • Education Level: High
  • # of students: 1,414
  • # of teachers: 115
6
GreatSchools Rating
 

$233,550$285,450$259,500

PURCHASE PRICE

$1,557$1,903$1,730

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,730
EXPENSES Loan Payment -$957
Property Tax -$352
Property Insurance -$126
HOA -$26
Property Management Fees -$99
CASH FLOW
$170

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.

$259,500

PROJECTED PRICE

$1,730

PROJECTED RENT

0.67%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 5.4%
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$900k

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$70,768

INVESTMENT

$70,768

Down Payment
$64,875
Rehab Estimate
$2,000
Closing Costs
$3,893

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% down payment or higher enables the proceeds from the asset to cover all costs.

$957

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $64,875
Loan Amount $194,625
See What Happens When You Reinvest Cash Flow

8.58

YEARS SAVED

$36,655

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,730

    LIST RENT
  • $1.01

    LIST RENT PER SQFT
  • $1,727

    COMP ESTIMATED VALUE
  • $1.01

    COMP AVG. RENT PER SQFT
Comps Range
$1,600
1$1,6002$1,6503$1,7004$1,7305$1,850
$1,850
RENT COMPS ANALYSIS
  • 2120 Christine Drive Granbury, TX 4
    • 3 beds 2 baths ∙ 1,718 Sqft ∙ Built 2020 3 beds 2 baths ∙ 1,718 Sqft ∙ Built 2020
    • Rent
    • Rent Per SQFT
    •  
    • $1,730
    • $1.01
    •  
  • 2212 Snake River Drive Granbury, TX 1
    • 3 beds 2 baths ∙ 1,742 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,742 Sqft ∙ Built 2004
    LEASED 11/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.92
    •  
  • 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
    LEASED 04/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.03
    •  
  • 2203 Navasota Granbury, TX 3
    • 3 beds 2 baths ∙ 1,700 Sqft ∙ Built 2020 3 beds 2 baths ∙ 1,700 Sqft ∙ Built 2020
    LEASED 07/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $1.00
    •  
  • 3909 Laramie Trail Granbury, TX 5
    • 3 beds 2 baths ∙ 1,735 Sqft ∙ Built 2018 3 beds 2 baths ∙ 1,735 Sqft ∙ Built 2018
    LEASED 11/24/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $1.07
    •  
PROPERTY LISTING DETAILS
Randall Luna
Elevate Realty Group
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14474928
Last Updated: 11/20/2020
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