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PROPERTY INFO
FACTS
- Single Family
- Built In 1981
- Price/Sqft : $213.98
- 7 Days on Market
- MLS # : 14500749
- Updated Date : 01/23/2021 at 20:30
CONSTRUCTION
- Beds : 3
- Floor Size : 1,659 sqft
- Baths : 2 full
Listing Agent
Synergy Realty
Listing Agent's Description
This Beautifully well maintained Single Story home in Russwood Estate features tiled floors throughout the living, kitchen, dining area plus bedroom * Living room has vaulted ceiling, creating a spacious open feel with windows bringing in natural light * Kitchen is open to living space * Great curb appeal, plenty of room in Backyard for entertaining Friends and Family, walking distance to Grapevine Lake, biking trails, Scotts Landing Marina. This is a place to call home in established neighborhood with trees, minutes away from shopping, highways, DFW airport.
SEE MORE
- 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
Neighborhood: Russwood Estates
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Russwood Estates
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,900 |
| EXPENSES | Loan Payment | -$1,233 |
| Property Tax | -$675 | |
| Property Insurance | -$123 | |
| Property Management Fees | -$99 | |
|
CASH FLOW
-$230
|
||
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.
$355,000
PROJECTED PRICE
$1,900
PROJECTED RENT
0.54%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 3.78% |
| Appreciation Year (1-5) | 13.5% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 6.39% |
| Length of Stay Years | 2 |
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$99,825
LOAN DETAILS
$1,233
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $88,750 |
| Loan Amount | $266,250 |
1.58
YEARS SAVED
$3,352
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,900
LIST RENT -
$1.15
LIST RENT PER SQFT
-
$1,900
COMP ESTIMATED VALUE -
$1.15
COMP AVG. RENT PER SQFT
Comps Range
-
2323 Mockingbird Drive Grapevine, TX 3
- 3 beds 2 baths ∙ 1,659 Sqft ∙ Built 1981 3 beds 2 baths ∙ 1,659 Sqft ∙ Built 1981
- Rent
- Rent Per SQFT
- $1,900
- $1.15
-
1307 Mockingbird Drive Grapevine, TX 1
- 3 beds 2 baths ∙ 1,670 Sqft ∙ Built 1978 3 beds 2 baths ∙ 1,670 Sqft ∙ Built 1978
LEASED 06/10/20- Rent
- Rent Per SQFT
- $1,850
- $1.11
-
1405 Thistlewood Lane Grapevine, TX 2
- 3 beds 3 baths ∙ 1,650 Sqft ∙ Built 1985 3 beds 3 baths ∙ 1,650 Sqft ∙ Built 1985
LEASED 07/06/20- Rent
- Rent Per SQFT
- $1,850
- $1.12
-
1022 Hummingbird Trail Grapevine, TX 4
- 3 beds 2 baths ∙ 1,670 Sqft ∙ Built 1979 3 beds 2 baths ∙ 1,670 Sqft ∙ Built 1979
LEASED 02/10/20- Rent
- Rent Per SQFT
- $1,990
- $1.19
-
1602 Stoneway Drive Grapevine, TX 5
- 3 beds 3 baths ∙ 1,726 Sqft ∙ Built 1985 3 beds 3 baths ∙ 1,726 Sqft ∙ Built 1985
LEASED 08/06/20- Rent
- Rent Per SQFT
- $2,000
- $1.16
PROPERTY LISTING DETAILS
Synergy Realty
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
MLS #: 14500749
Last Updated: 01/23/2021
