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

2834 N Creekwood Drive Grapevine, TX 76051

4 Beds 2 Baths 2,145 sqft Built 1983

$364,900

List Price

$2,350

$2.1K - $2.6K

Rent Est.

PROPERTY INFO

November 27, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1983
  • Price/Sqft : $170.12
  • 3 Days on Market
  • MLS # : 14477455
  • Updated Date : 11/27/2020 at 13:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,145 sqft
  • Baths : 2 full
Listing Agent

Re/max Associates Of Arlington

Listing Agent's Description

Exquisite home sitting on a tree canopied lot backing to the creek, updated w-glistening hardwoods & freshly painted to meet the most discriminating buyer's expectations! Entry leads past spacious formal dining room to inviting family room featuring chipped ceiling treatments & WBFP. Gourmet kitchen opens across breakfast bar to quaint breakfast nook & features granite c'tops, pantry & tons of cabinet space to delight the family chef! Master suite down w-2 closets & a soaking tub for those precious few moments of peaceful solitude. 2 more bedrooms down w-adjoining bath, plus 4th bedroom-gameroom upstairs to meet your growing family needs! Private backyard retreat w-creek view perfect for Sunday afternoon BBQs!

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: Creekwood Estates

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360kPrice in $123k379k

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

Neighborhood: Creekwood Estates

NeighborhoodNIR Market*CityMarket2010Year20002019 Q212001400160018002000220024002600Rent in $11262643

* 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
Glenhope Elementary School Primary Regular 454 30 9
Cross Timbers Middle School Middle Regular 795 50 7
Grapevine High School High Regular 2,015 129 7

Glenhope Elementary School

  • Education Level: Primary
  • # of students: 454
  • # of teachers: 30
9
GreatSchools Rating

Cross Timbers Middle School

  • Education Level: Middle
  • # of students: 795
  • # of teachers: 50
7
GreatSchools Rating

Grapevine High School

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

$328,410$401,390$364,900

PURCHASE PRICE

$2,115$2,585$2,350

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,350
EXPENSES Loan Payment -$1,346
Property Tax -$693
Property Insurance -$151
Property Management Fees -$99
CASH FLOW
$60

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.

$364,900

PROJECTED PRICE

$2,350

PROJECTED RENT

0.64%

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

PROJECTED ANNUAL CASH FLOW

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

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$102,449

INVESTMENT

$102,449

Down Payment
$91,225
Rehab Estimate
$5,750
Closing Costs
$5,474

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,346

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $91,225
Loan Amount $273,675
See What Happens When You Reinvest Cash Flow

5.58

YEARS SAVED

$26,483

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,350

    LIST RENT
  • $1.1

    LIST RENT PER SQFT
  • $2,322

    COMP ESTIMATED VALUE
  • $1.08

    COMP AVG. RENT PER SQFT
Comps Range
$2,175
1$2,1752$2,3003$2,3504$2,4005$2,500
$2,500
RENT COMPS ANALYSIS
  • 2834 N Creekwood Drive Grapevine, TX 3
    • 4 beds 2 baths ∙ 2,145 Sqft ∙ Built 1983 4 beds 2 baths ∙ 2,145 Sqft ∙ Built 1983
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $1.10
    •  
  • 2941 Columbine Drive Grapevine, TX 1
    • 3 beds 2 baths ∙ 2,065 Sqft ∙ Built 1977 3 beds 2 baths ∙ 2,065 Sqft ∙ Built 1977
    LEASED 02/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,175
    • $1.05
    •  
  • 3509 Edgehill Street Grapevine, TX 2
    • 4 beds 4 baths ∙ 2,167 Sqft ∙ Built 1988 4 beds 4 baths ∙ 2,167 Sqft ∙ Built 1988
    LEASED 07/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.06
    •  
  • 2911 Ridgewood Drive Grapevine, TX 4
    • 3 beds 3 baths ∙ 2,120 Sqft ∙ Built 1978 3 beds 3 baths ∙ 2,120 Sqft ∙ Built 1978
    LEASED 08/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.13
    •  
  • 1717 Parkwood Drive Grapevine, TX 5
    • 3 beds 2 baths ∙ 2,298 Sqft ∙ Built 1992 3 beds 2 baths ∙ 2,298 Sqft ∙ Built 1992
    LEASED 01/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.09
    •  
PROPERTY LISTING DETAILS
Dan Stafford
Re/max Associates Of Arlington
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14477455
Last Updated: 11/27/2020
BESbswy