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2316 E Spanish Trail Court Granbury, TX 76048

3 Beds 3 Baths 1,970 sqft Built 1997

$439,921

List Price

$1,880

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 04, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1997
  • Price/Sqft : $223.31
  • 4 Days on Market
  • MLS # : 14526695
  • Updated Date : 03/05/2021 at 11:52
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,970 sqft
  • Baths : 2 full , 1 half
Listing Agent

Century 21 Property Advisors

Listing Agent's Description

THIS is a RARE find! OVER 100' of Mainbody shoreline, on 1 acre. Beautiful Custom Home, with views to die for! Beautiful fireplace between Living room and dining. Very open for todays living. Great covered patio and deck, perfect for fishing or just relaxing and enjoying the views. This is a One Owner Property! Roof is only 1.5 yrs old, sprinkler system is pumped from the Lake. Walk outs from every room from the back of the house to the patio and lake views! This home and water front property is really a must see.

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
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
 

$395,929$483,913$439,921

PURCHASE PRICE

$1,692$2,068$1,880

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,880
EXPENSES Loan Payment -$1,528
Property Tax -$596
Property Insurance -$141
HOA -$10
Property Management Fees -$99
CASH FLOW
-$494

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.

$439,921

PROJECTED PRICE

$1,880

PROJECTED RENT

0.43%

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) 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-$10k-$8.0k-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$122,329

INVESTMENT

$122,329

Down Payment
$109,980
Rehab Estimate
$5,750
Closing Costs
$6,599

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$1,528

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $109,980
Loan Amount $329,941
See What Happens When You Reinvest Cash Flow

0.42

YEARS SAVED

$492

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,880

    LIST RENT
  • $0.95

    LIST RENT PER SQFT
  • $2,000

    COMP ESTIMATED VALUE
  • $1.02

    COMP AVG. RENT PER SQFT
Comps Range
$1,695
1$1,6952$1,7003$1,8004$1,8805$2,000
$2,000
RENT COMPS ANALYSIS
  • 2316 E Spanish Trail Court Granbury, TX 4
    • 3 beds 3 baths ∙ 1,970 Sqft ∙ Built 1997 3 beds 3 baths ∙ 1,970 Sqft ∙ Built 1997
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,880
    • $0.95
    •  
  • 1318 Lauren Lane Granbury, TX 1
    • 3 beds 3 baths ∙ 1,771 Sqft ∙ Built 2017 3 beds 3 baths ∙ 1,771 Sqft ∙ Built 2017
    property image
    LEASED 03/04/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.96
    •  
  • 1110 Spanish Trail Drive Granbury, TX 2
    • 3 beds 2 baths ∙ 1,623 Sqft ∙ Built 2014 3 beds 2 baths ∙ 1,623 Sqft ∙ Built 2014
    property image
    LEASED 05/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $1.05
    •  
  • 1300 Caballo Way Granbury, TX 3
    • 4 beds 2 baths ∙ 1,721 Sqft ∙ Built 2010 4 beds 2 baths ∙ 1,721 Sqft ∙ Built 2010
    property image
    LEASED 01/19/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $1.05
    •  
  • 1108 Canvasback Drive Granbury, TX 5
    • 3 beds 3 baths ∙ 2,010 Sqft ∙ Built 1989 3 beds 3 baths ∙ 2,010 Sqft ∙ Built 1989
    property image
    LEASED 11/12/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $1.00
    •  
PROPERTY LISTING DETAILS
Freddie Crawford
Century 21 Property Advisors
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14526695
Last Updated: 03/05/2021
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