Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

2609 Mercedes Street Granbury, TX 76048

3 Beds 2 Baths 1,825 sqft Built 2020

$259,000

List Price

$1,730

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
December 24, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2020
  • Price/Sqft : $141.92
  • 4 Days on Market
  • MLS # : 14490428
  • Updated Date : 12/24/2020 at 03:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,825 sqft
  • Baths : 2 full
Listing Agent

Jp And Associates Fort Worth

Listing Agent's Description

This modern and sleek new construction home in Canyon Creek is a must see. The inviting open concept floor plan offers split bedrooms, decorative lighting, a fireplace in the living room and a bonus room which would be perfect for an office. The kitchen is completed with white wood shaker cabinets, subway tile backsplash, stainless steel appliances and granite countertops. The master bedroom features his and her closets, dual sinks, oversized tub and separate tiled shower.

SEE MORE

MARKET HIGHLIGHTS

  • . 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)
  • 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)

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
 

$233,100$284,900$259,000

PURCHASE PRICE

$1,557$1,903$1,730

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,730
EXPENSES Loan Payment -$956
Property Tax -$351
Property Insurance -$133
HOA -$26
Property Management Fees -$99
CASH FLOW
$166

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.

$259,000

PROJECTED PRICE

$1,730

PROJECTED RENT

0.67%

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$900k

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$70,635

INVESTMENT

$70,635

Down Payment
$64,750
Rehab Estimate
$2,000
Closing Costs
$3,885

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% down payment or higher enables the proceeds from the asset to cover all costs.

$956

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $64,750
Loan Amount $194,250
See What Happens When You Reinvest Cash Flow

8.58

YEARS SAVED

$35,962

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,730

    LIST RENT
  • $0.95

    LIST RENT PER SQFT
  • $1,743

    COMP ESTIMATED VALUE
  • $0.96

    COMP AVG. RENT PER SQFT
Comps Range
$1,590
1$1,5902$1,6003$1,6754$1,7005$1,730
$1,730
RENT COMPS ANALYSIS
  • 2609 Mercedes Street Granbury, TX 5
    • 3 beds 2 baths ∙ 1,825 Sqft ∙ Built 2020 3 beds 2 baths ∙ 1,825 Sqft ∙ Built 2020
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,730
    • $0.95
    •  
  • 7320 Mistletoe Trail Granbury, TX 1
    • 3 beds 2 baths ∙ 1,698 Sqft ∙ Built 2017 3 beds 2 baths ∙ 1,698 Sqft ∙ Built 2017
    property image
    LEASED 10/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,590
    • $0.94
    •  
  • 2212 Snake River Drive Granbury, TX 2
    • 3 beds 2 baths ∙ 1,742 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,742 Sqft ∙ Built 2004
    property image
    LEASED 11/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.92
    •  
  • 7322 Mistletoe Trail Granbury, TX 3
    • 4 beds 2 baths ∙ 1,750 Sqft ∙ Built 2015 4 beds 2 baths ∙ 1,750 Sqft ∙ Built 2015
    property image
    LEASED 07/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,675
    • $0.96
    •  
  • 2203 Navasota Granbury, TX 4
    • 3 beds 2 baths ∙ 1,700 Sqft ∙ Built 2020 3 beds 2 baths ∙ 1,700 Sqft ∙ Built 2020
    property image
    LEASED 07/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $1.00
    •  
PROPERTY LISTING DETAILS
Tammy Cannon
Jp And Associates Fort Worth
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14490428
Last Updated: 12/24/2020
BESbswy