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2701 Hidden Lake Drive Grapevine, TX 76051

3 Beds 3 Baths 2,228 sqft Built 1996

$425,000

List Price

$2,780

$2.5K - $3K

Rent Est.

PROPERTY INFO

November 07, 2020 RECENTLY ADDED
FACTS
  • Built In 1996
  • Price/Sqft : $190.75
  • 2 Days on Market
  • MLS # : 14467520
  • Updated Date : 11/07/2020 at 23:23
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,228 sqft
  • Baths : 2 full , 1 half
Listing Agent

Better Homes & Gardens, Winans

Listing Agent's Description

Location, Location, Location, adjacent to Greenbelt, Corp property, Grapevine Lake Trails, Parks, and Trees. Single story home on a very private lot and at the end of the cul de sac street. Home features a very flexible floor plan with 3 bedrooms and a study which could be a 4th bedroom, 2 full baths and 1 half bath, a large kitchen and family room, dining room, and extra niches in the kitchen & breakfast area. Custom hand-scraped hardwood floors, oversized gourmet kitchen with tile countertops. Pride of ownership shows and the home is move-in ready. See parks and trails maps in transactions

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

Neighborhood: Hidden Lake Estates

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450kPrice in $123k469k

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

Neighborhood: Hidden Lake Estates

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21200140016001800200022002400260028003000Rent in $11263123

* 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
Dove Elementary School Primary Regular 546 35 5
Grapevine Middle School Middle Regular 733 49 5
Grapevine High School High Regular 2,015 129 7

Dove Elementary School

  • Education Level: Primary
  • # of students: 546
  • # of teachers: 35
5
GreatSchools Rating

Grapevine Middle School

  • Education Level: Middle
  • # of students: 733
  • # of teachers: 49
5
GreatSchools Rating

Grapevine High School

  • Education Level: High
  • # of students: 2,015
  • # of teachers: 129
7
GreatSchools Rating
 

$382,500$467,500$425,000

PURCHASE PRICE

$2,502$3,058$2,780

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,780
EXPENSES Loan Payment -$1,568
Property Tax -$808
Property Insurance -$156
HOA -$29
Property Management Fees -$99
CASH FLOW
$120

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.

$425,000

PROJECTED PRICE

$2,780

PROJECTED RENT

0.65%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 7.2%
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$1.2M$1.4M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k

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$118,375

INVESTMENT

$118,375

Down Payment
$106,250
Rehab Estimate
$5,750
Closing Costs
$6,375

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,568

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $106,250
Loan Amount $318,750
See What Happens When You Reinvest Cash Flow

6.17

YEARS SAVED

$35,730

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,780

    LIST RENT
  • $1.25

    LIST RENT PER SQFT
  • $3,019

    COMP ESTIMATED VALUE
  • $1.36

    COMP AVG. RENT PER SQFT
Comps Range
$2,780
1$2,7802$2,9003$2,9754$3,0005$3,300
$3,300
RENT COMPS ANALYSIS
  • 2701 Hidden Lake Drive Grapevine, TX 1
    • 3 beds 3 baths ∙ 2,228 Sqft ∙ Built 1996 3 beds 3 baths ∙ 2,228 Sqft ∙ Built 1996
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,780
    • $1.25
    •  
  • 1804 Castle Court Grapevine, TX 2
    • 3 beds 3 baths ∙ 2,320 Sqft ∙ Built 2005 3 beds 3 baths ∙ 2,320 Sqft ∙ Built 2005
    property image
    LEASED 01/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,900
    • $1.25
    •  
  • 2901 River Crest Street Grapevine, TX 3
    • 4 beds 3 baths ∙ 2,174 Sqft ∙ Built 1985 4 beds 3 baths ∙ 2,174 Sqft ∙ Built 1985
    property image
    LEASED 04/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,975
    • $1.37
    •  
  • 2705 Cliffwood Drive Grapevine, TX 4
    • 3 beds 2 baths ∙ 2,167 Sqft ∙ Built 2002 3 beds 2 baths ∙ 2,167 Sqft ∙ Built 2002
    property image
    LEASED 04/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $1.38
    •  
  • 2802 Southwood Court Grapevine, TX 5
    • 4 beds 2 baths ∙ 2,323 Sqft ∙ Built 1995 4 beds 2 baths ∙ 2,323 Sqft ∙ Built 1995
    property image
    LEASED 04/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,300
    • $1.42
    •  
PROPERTY LISTING DETAILS
George Bryant
Better Homes & Gardens, Winans
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14467520
Last Updated: 11/07/2020
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