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2414 Creek Drive Granbury, TX 76048

3 Beds 2 Baths 1,456 sqft Built 2021

$212,000

List Price

$1,650

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

Built 2021 NEW CONSTRUCTION
December 01, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2021
  • Price/Sqft : $145.60
  • 6 Days on Market
  • MLS # : 14478467
  • Updated Date : 12/01/2020 at 16:20
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,456 sqft
  • Baths : 2 full
Listing Agent

Fraser Realty

Listing Agent's Description

Built by Carrera Homes, A Granbury Premier Builder. The Creek Plan is a Charming 3-2-2 home that welcomes you with an Open Floor Plan! As you walk in you are presented with high Vaulted Ceilings finished with stained pine wood. Interior finishes include: Large Master Bedroom, Custom cabinets, granite counter tops, stainless steel appliances, walk-in shower with glass door, sleek electric fireplace with shiplap finishes, luxury laminate & tile flooring. Energy efficient open cell spray foam insulation & radiant barrier will keep your electricity costs down. Estimated completion end of January. - Builders 2-10 warranty included as well as Gutters and Fence.

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

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
Mambrino Elementary School Primary Regular 563 34 5
Granbury Middle School Middle Regular 711 50 4
Granbury High School High Regular 1,414 115 6

Mambrino Elementary School

  • Education Level: Primary
  • # of students: 563
  • # of teachers: 34
5
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
 

$190,800$233,200$212,000

PURCHASE PRICE

$1,485$1,815$1,650

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,650
EXPENSES Loan Payment -$782
Property Tax -$287
Property Insurance -$111
HOA -$26
Property Management Fees -$99
CASH FLOW
$345

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 9% of earned rent to cover both maintenance and periods of vacancy.

$212,000

PROJECTED PRICE

$1,650

PROJECTED RENT

0.78%

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) 3.00%
Vacancy 6.39%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k$18k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$58,180

INVESTMENT

$58,180

Down Payment
$53,000
Rehab Estimate
$2,000
Closing Costs
$3,180

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 20% down payment or higher enables the proceeds from the asset to cover all costs.

$782

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $53,000
Loan Amount $159,000
See What Happens When You Reinvest Cash Flow

13.42

YEARS SAVED

$53,985

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,650

    LIST RENT
  • $1.13

    LIST RENT PER SQFT
  • $1,649

    COMP ESTIMATED VALUE
  • $1.13

    COMP AVG. RENT PER SQFT
Comps Range
$1,525
1$1,5252$1,6503$1,7004$1,7005$1,800
$1,800
RENT COMPS ANALYSIS
  • 2414 Creek Drive Granbury, TX 2
    • 3 beds 2 baths ∙ 1,456 Sqft ∙ Built 2021 3 beds 2 baths ∙ 1,456 Sqft ∙ Built 2021
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.13
    •  
  • 1306 Laredo Drive Granbury, TX 1
    • 3 beds 2 baths ∙ 1,306 Sqft ∙ Built 2010 3 beds 2 baths ∙ 1,306 Sqft ∙ Built 2010
    LEASED 07/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,525
    • $1.17
    •  
  • 2300 Steepleridge Circle Granbury, TX 3
    • 3 beds 2 baths ∙ 1,503 Sqft ∙ Built 2019 3 beds 2 baths ∙ 1,503 Sqft ∙ Built 2019
    LEASED 02/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $1.13
    •  
  • 2203 Navasota Granbury, TX 4
    • 3 beds 2 baths ∙ 1,700 Sqft ∙ Built 2020 3 beds 2 baths ∙ 1,700 Sqft ∙ Built 2020
    LEASED 07/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $1.00
    •  
  • 5818 Stonegate Circle Granbury, TX 5
    • 3 beds 2 baths ∙ 1,461 Sqft ∙ Built 2019 3 beds 2 baths ∙ 1,461 Sqft ∙ Built 2019
    LEASED 06/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $1.23
    •  
PROPERTY LISTING DETAILS
Richard Carrera
Fraser Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14478467
Last Updated: 12/01/2020
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