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2310 Brookcrest Lane Grapevine, TX 76051

4 Beds 3 Baths 2,748 sqft Built 1998

$525,000

List Price

$2,970

$2.7K - $3.2K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 25, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1998
  • Price/Sqft : $191.05
  • 4 Days on Market
  • MLS # : 14535621
  • Updated Date : 03/25/2021 at 14:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,748 sqft
  • Baths : 3 full
Listing Agent

Redfin Corporation

Listing Agent's Description

Lake life at it's best! This incredibly charming timeless traditional is situated in the heart of the city & just one block from Lake Grapevine w walking-bike trails great for morning jogs & evening strolls! Open concept w formal dining & separate formal living that could flex as an office. Chef's kitchen opens to family room & features ss appliances, butcher block island, plus tons of cabinets & granite counter space for grand scale cooking! Owner's retreat boasts granite counters, jetted tub & walk-in shower! Highlights: roof in '17, wood floors '18, plantation shutters, pool remodel in 2020! Fabulous outdoor space for summer pool parties & backyard BBQ! Prime location near highways, airport, shops & dining!

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: The Steiger Estate

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500kPrice in $123k549k

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

Neighborhood: The Steiger Estate

NeighborhoodNIR Market*CityMarket2010Year20002019 Q212001400160018002000220024002600280030003200Rent in $11263276

* 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
 

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

PURCHASE PRICE

$2,673$3,267$2,970

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,970
EXPENSES Loan Payment -$1,824
Property Tax -$998
Property Insurance -$186
Property Management Fees -$99
CASH FLOW
-$136

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

$2,970

PROJECTED RENT

0.57%

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

PROJECTED ANNUAL CASH FLOW

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

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 60% 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

3.33

YEARS SAVED

$14,834

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,970

    LIST RENT
  • $1.08

    LIST RENT PER SQFT
  • $2,947

    COMP ESTIMATED VALUE
  • $1.07

    COMP AVG. RENT PER SQFT
Comps Range
$2,800
1$2,8002$2,8503$2,9704$2,9955$3,000
$3,000
RENT COMPS ANALYSIS
  • 2310 Brookcrest Lane Grapevine, TX 3
    • 4 beds 3 baths ∙ 2,748 Sqft ∙ Built 1998 4 beds 3 baths ∙ 2,748 Sqft ∙ Built 1998
    • Rent
    • Rent Per SQFT
    •  
    • $2,970
    • $1.08
    •  
  • 2716 Pin Oak Drive Grapevine, TX 1
    • 4 beds 3 baths ∙ 2,573 Sqft ∙ Built 1994 4 beds 3 baths ∙ 2,573 Sqft ∙ Built 1994
    LEASED 04/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $1.09
    •  
  • 2321 Brookcrest Lane Grapevine, TX 2
    • 4 beds 2 baths ∙ 2,920 Sqft ∙ Built 1998 4 beds 2 baths ∙ 2,920 Sqft ∙ Built 1998
    LEASED 06/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,850
    • $0.98
    •  
  • 2804 Woodhaven Drive Grapevine, TX 4
    • 4 beds 3 baths ∙ 2,451 Sqft ∙ Built 1995 4 beds 3 baths ∙ 2,451 Sqft ∙ Built 1995
    LEASED 08/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,995
    • $1.22
    •  
  • 2923 Peninsula Drive Grapevine, TX 5
    • 3 beds 2 baths ∙ 3,002 Sqft ∙ Built 1985 3 beds 2 baths ∙ 3,002 Sqft ∙ Built 1985
    LEASED 07/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $1.00
    •  
PROPERTY LISTING DETAILS
Jennifer Viner
Redfin Corporation
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14535621
Last Updated: 03/25/2021
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