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2814 Mesa Verde Trail Grapevine, TX 76051

3 Beds 2 Baths 1,326 sqft Built 1980

INVESTimate

$330,000

List Price

$1,830

$1,647 - $2,013

Rent Est.

$353,694  ( +7.18%)   1 YR EST. FORECAST

PROPERTY INFO

August 20, 2020 RECENTLY ADDED
FACTS
  • Built In 1980
  • Price/Sqft : $248.87
  • 7 Days on Market
  • MLS # : 14415741
  • Updated Date : 08/20/2020 at 22:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,326 sqft
  • Baths : 2 full
Listing Agent

Christie's Int'l Ulterre

Listing Agent's Description

GREAT LOCATION!! Completely remodeled 3 bedroom, 2 bath home in CARROLL ISD. The updates includes new paint inside and out, updated baths, kitchen and floors. Beautiful treed lot in Grapevine city with Southlake schools for well under $400,000. Large backyard with covered patio make enjoying the outdoors easy. Close to parks, shopping, and schools.

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: Parra Linda Estates

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360kPrice in $123k374k

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

Neighborhood: Parra Linda Estates

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21200140016001800200022002400Rent in $10542539

* 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
Durham Intermediate School Primary Regular 628 42 10
Carroll Middle School Middle Regular 659 44 10
Carroll Middle School High Regular 659 44 10

Durham Intermediate School

  • Education Level: Primary
  • # of students: 628
  • # of teachers: 42
10
GreatSchools Rating

Carroll Middle School

  • Education Level: Middle
  • # of students: 659
  • # of teachers: 44
10
GreatSchools Rating

Carroll Middle School

  • Education Level: High
  • # of students: 659
  • # of teachers: 44
10
GreatSchools Rating
 

$297,000$363,000$330,000

PURCHASE PRICE

$1,647$2,013$1,830

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,830
EXPENSES Loan Payment -$1,218
Property Tax -$627
Property Insurance -$104
Property Management Fees -$99
CASH FLOW
-$217

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.

$330,000

PROJECTED PRICE

$1,830

PROJECTED RENT

0.55%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 7.18%
Maintenance Year (1-5) 8.00%
Vacancy 6.93%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$93,200

INVESTMENT

$93,200

Down Payment
$82,500
Rehab Estimate
$5,750
Closing Costs
$4,950

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$1,218

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $82,500
Loan Amount $247,500
See What Happens When You Reinvest Cash Flow

1.67

YEARS SAVED

$4,506

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,830

    LIST RENT
  • $1.38

    LIST RENT PER SQFT
  • $1,823

    COMP ESTIMATED VALUE
  • $1.38

    COMP AVG. RENT PER SQFT
Comps Range
$1,825
1$1,8252$1,8303$1,8504$1,8955$1,950
$1,950
RENT COMPS ANALYSIS
  • 2814 Mesa Verde Trail Grapevine, TX 2
    • 3 beds 2 baths ∙ 1,326 Sqft ∙ Built 1980 3 beds 2 baths ∙ 1,326 Sqft ∙ Built 1980
    • Rent
    • Rent Per SQFT
    •  
    • $1,830
    • $1.38
    •  
  • 1763 Cimarron Trail Grapevine, TX 1
    • 3 beds 2 baths ∙ 1,339 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,339 Sqft ∙ Built 1983
    LEASED 02/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,825
    • $1.36
    •  
  • 1507 Cimarron Trail Grapevine, TX 3
    • 3 beds 2 baths ∙ 1,367 Sqft ∙ Built 1977 3 beds 2 baths ∙ 1,367 Sqft ∙ Built 1977
    LEASED 02/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $1.35
    •  
  • 2942 Tumbleweed Court Grapevine, TX 4
    • 3 beds 2 baths ∙ 1,347 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,347 Sqft ∙ Built 1983
    LEASED 03/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $1.41
    •  
  • 1707 Chaparral Court Grapevine, TX 5
    • 3 beds 2 baths ∙ 1,409 Sqft ∙ Built 1977 3 beds 2 baths ∙ 1,409 Sqft ∙ Built 1977
    LEASED 09/13/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $1.38
    •  
PROPERTY LISTING DETAILS
Bryann Owen
Christie's Int'l Ulterre
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14415741
Last Updated: 08/20/2020
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