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213 Granada Calle Street Granbury, TX 76049

3 Beds 3 Baths 2,906 sqft Built 1999

INVESTimate

$524,900

List Price

$2,170

$1,953 - $2,387

Rent Est.

$555,082  ( +5.75%)   1 YR EST. FORECAST

PROPERTY INFO

August 24, 2020 RECENTLY ADDED
FACTS
  • Built In 1999
  • Price/Sqft : $180.63
  • 3 Days on Market
  • MLS # : 14419166
  • Updated Date : 08/25/2020 at 09:29
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,906 sqft
  • Baths : 2 full , 1 half
Listing Agent

Re/max Lake Granbury

Listing Agent's Description

Waterfront just minutes from historic Granbury Square! Set back from road for privacy the large front yard & mature landscape frame this Cape Cod styled home Open concept living, dining & kitchen look out over back yard through wall of windows. Updated kitchen- granite counters, center island & electric cooktop with grill. SunRoom off dining area has more windows to enjoy the view. Master has updated bath, dual sinks & separate walk in closets Upper level- 2 bedrooms, jack-n-jill bath & game room -accessed from garage stairs or through attic.Back of home has screened & open patio, large trees, additional storage-workshop with electric.Large trees provide beautiful shaded area that leads to the dock w boat lift

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
Brawner Intermediate School Primary Regular 413 27 4
Granbury Middle School Middle Regular 711 50 4
Granbury High School High Regular 1,414 115 6

Brawner Intermediate School

  • Education Level: Primary
  • # of students: 413
  • # of teachers: 27
4
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
 

$472,410$577,390$524,900

PURCHASE PRICE

$1,953$2,387$2,170

RENT

DOWN PAYMENT
FINANCING

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-$15k-$10k-$5.0k$0.0

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,170
EXPENSES Loan Payment -$1,937
Property Tax -$711
Property Insurance -$178
HOA -$13
Property Management Fees -$99
CASH FLOW
-$767

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.

$524,900

PROJECTED PRICE

$2,170

PROJECTED RENT

0.41%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 5.75%
Maintenance Year (1-5) 8.00%
Vacancy 6.39%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$144,849

INVESTMENT

$144,849

Down Payment
$131,225
Rehab Estimate
$5,750
Closing Costs
$7,874

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 75% down payment or higher enables the proceeds from the asset to cover all costs.

$1,937

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $131,225
Loan Amount $393,675
See What Happens When You Reinvest Cash Flow

0.17

YEARS SAVED

$77

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,170

    LIST RENT
  • $0.83

    LIST RENT PER SQFT
  • $2,508

    COMP ESTIMATED VALUE
  • $0.96

    COMP AVG. RENT PER SQFT
Comps Range
$2,170
1$2,1702$2,3003$2,3504$2,3505$2,350
$2,350
RENT COMPS ANALYSIS
  • 213 Granada Calle Street Granbury, TX 1
    • 3 beds 3 baths ∙ 2,606 Sqft ∙ Built 1999 3 beds 3 baths ∙ 2,606 Sqft ∙ Built 1999
    • Rent
    • Rent Per SQFT
    •  
    • $2,170
    • $0.83
    •  
  • 339 Paddle Boat Drive Granbury, TX 2
    • 4 beds 2 baths ∙ 2,333 Sqft ∙ Built 2017 4 beds 2 baths ∙ 2,333 Sqft ∙ Built 2017
    LEASED 03/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.99
    •  
  • 343 Paddle Boat Drive Granbury, TX 3
    • 4 beds 3 baths ∙ 2,566 Sqft ∙ Built 2015 4 beds 3 baths ∙ 2,566 Sqft ∙ Built 2015
    LEASED 11/20/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $0.92
    •  
  • 3307 Ferry Boat Lane Granbury, TX 4
    • 3 beds 3 baths ∙ 2,420 Sqft ∙ Built 2008 3 beds 3 baths ∙ 2,420 Sqft ∙ Built 2008
    LEASED 08/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $0.97
    •  
  • 318 Oar Wood Drive Granbury, TX 5
    • 4 beds 2 baths ∙ 2,432 Sqft ∙ Built 2017 4 beds 2 baths ∙ 2,432 Sqft ∙ Built 2017
    LEASED 07/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $0.97
    •  
PROPERTY LISTING DETAILS
Steve Fortner
Re/max Lake Granbury
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14419166
Last Updated: 08/25/2020
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