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2324 Grandview Drive Flower Mound, TX 75028

4 Beds 3 Baths 1,790 sqft Built 1992

$334,900

List Price

$1,990

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

November 20, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1992
  • Price/Sqft : $187.09
  • 3 Days on Market
  • MLS # : 14473336
  • Updated Date : 11/20/2020 at 15:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,790 sqft
  • Baths : 3 full
Listing Agent

Redfin Corporation

Listing Agent's Description

Beautiful home with great curb appeal impresses on all levels! Great family floorplan is spacious, light, bright and open! Located in much desired Flower Mound ISD! Lot is on a tranquil greenbelt and walking trails! On-trend, light, neutral color palette goes with any decor. The kitchen is a chef's delight with granite counters, plenty of cabinet & prep space, stainless steel appliances, on-trend grey subway tile backsplash & a separate breakfast area with bay window providing lots of natural light. Updated bthrms in grey & white for a relaxing, fresh vibe. Tranquil owners retreat has a large walk-in closet & updated spa-like bthrm. Enjoy the outdoors from the covered patio overlooking the large fenced bckyrd.

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

Neighborhood: Highland Oaks

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360k380k400kPrice in $123k402k

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

Neighborhood: Highland Oaks

NeighborhoodNIR Market*CityMarket2010Year20002019 Q212001300140015001600170018001900200021002200230024002500Rent in $11262573

* 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
Donald Elementary School Primary Regular 497 36 7
Forestwood Middle School Middle Regular 693 49 8
Flower Mound High School High Regular 2,550 157 10

Donald Elementary School

  • Education Level: Primary
  • # of students: 497
  • # of teachers: 36
7
GreatSchools Rating

Forestwood Middle School

  • Education Level: Middle
  • # of students: 693
  • # of teachers: 49
8
GreatSchools Rating

Flower Mound High School

  • Education Level: High
  • # of students: 2,550
  • # of teachers: 157
10
GreatSchools Rating
 

$301,410$368,390$334,900

PURCHASE PRICE

$1,791$2,189$1,990

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,990
EXPENSES Loan Payment -$1,236
Property Tax -$578
Property Insurance -$131
Property Management Fees -$99
CASH FLOW
-$54

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.

$334,900

PROJECTED PRICE

$1,990

PROJECTED RENT

0.59%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 6.8%
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

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$94,499

INVESTMENT

$94,499

Down Payment
$83,725
Rehab Estimate
$5,750
Closing Costs
$5,024

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,236

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $83,725
Loan Amount $251,175
See What Happens When You Reinvest Cash Flow

4.17

YEARS SAVED

$15,588

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,990

    LIST RENT
  • $1.11

    LIST RENT PER SQFT
  • $1,938

    COMP ESTIMATED VALUE
  • $1.08

    COMP AVG. RENT PER SQFT
Comps Range
$1,950
1$1,9502$1,9653$1,9904$2,0005$2,100
$2,100
RENT COMPS ANALYSIS
  • 2324 Grandview Drive Flower Mound, TX 3
    • 4 beds 3 baths ∙ 1,790 Sqft ∙ Built 1992 4 beds 3 baths ∙ 1,790 Sqft ∙ Built 1992
    • Rent
    • Rent Per SQFT
    •  
    • $1,990
    • $1.11
    •  
  • 2028 Brookville Lane Flower Mound, TX 1
    • 3 beds 3 baths ∙ 1,750 Sqft ∙ Built 1991 3 beds 3 baths ∙ 1,750 Sqft ∙ Built 1991
    LEASED 03/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $1.11
    •  
  • 2604 Normandy Drive Flower Mound, TX 2
    • 3 beds 3 baths ∙ 1,750 Sqft ∙ Built 1991 3 beds 3 baths ∙ 1,750 Sqft ∙ Built 1991
    LEASED 02/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,965
    • $1.12
    •  
  • 2213 Ellis Drive Flower Mound, TX 4
    • 3 beds 3 baths ∙ 1,930 Sqft ∙ Built 1993 3 beds 3 baths ∙ 1,930 Sqft ∙ Built 1993
    LEASED 06/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $1.04
    •  
  • 2613 Centenary Drive Flower Mound, TX 5
    • 3 beds 3 baths ∙ 1,974 Sqft ∙ Built 1992 3 beds 3 baths ∙ 1,974 Sqft ∙ Built 1992
    LEASED 02/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.06
    •  
PROPERTY LISTING DETAILS
Christy Mullins
Redfin Corporation
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14473336
Last Updated: 11/20/2020
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