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2923 Cresthaven Drive Grapevine, TX 76051

3 Beds 2 Baths 1,645 sqft Built 1983

$332,500

List Price

$2,060

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

January 15, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1983
  • Price/Sqft : $202.13
  • 3 Days on Market
  • MLS # : 14500109
  • Updated Date : 01/15/2021 at 13:27
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,645 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Realty

Listing Agent's Description

Search address on YouTube for video walk-thru!! ADORABLE home w a POOL in the highly desired Grapevine-Colleyville ISD. Open floorplan, light & bright, & split bedrooms! Several updates & finishing touches including a 6 x 9 bonus space in the garage. Beautiful kitchen w ample storage, granite countertops, breakfast bar, SS apps, & convection oven. The master w ensuite bath is spacious & offers his & her closets. Entertain guests pool side w a covered patio, pool perimeter fencing, wood privacy fence, like new Craftsman storage shed & a nicely sized backyard. Quaint and quiet neighborhood convenient to major highways, shopping, restaurants, & more. Submit your offers ASAP...this one won't last!!

SEE MORE

MARKET HIGHLIGHTS

  • # 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)
  • . Dallas has 7th largest concentration of high-tech jobs in the U.S. (Dallas Chamber)

PRICE & RENT TRENDS

Neighborhood: Oak Creek Estates Grapevine

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360kPrice in $122k374k

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

Neighborhood: Oak Creek Estates Grapevine

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2110012001300140015001600170018001900200021002200230024002500Rent in $10932539

* 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
Timberline Elementary School Primary Regular 708 51 4
Cross Timbers Middle School Middle Regular 795 50 7
Grapevine High School High Regular 2,015 129 7

Timberline Elementary School

  • Education Level: Primary
  • # of students: 708
  • # of teachers: 51
4
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
 

$299,250$365,750$332,500

PURCHASE PRICE

$1,854$2,266$2,060

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,060
EXPENSES Loan Payment -$1,155
Property Tax -$632
Property Insurance -$122
Property Management Fees -$99
CASH FLOW
$52

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 14% of earned rent to cover both maintenance and periods of vacancy.

$332,500

PROJECTED PRICE

$2,060

PROJECTED RENT

0.62%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 9.0%
Maintenance Year (1-5) 8.00%
Vacancy 6.39%
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-$4.0k-$2.0k$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$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$93,863

INVESTMENT

$93,863

Down Payment
$83,125
Rehab Estimate
$5,750
Closing Costs
$4,988

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,155

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $83,125
Loan Amount $249,375
See What Happens When You Reinvest Cash Flow

5.42

YEARS SAVED

$19,622

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,060

    LIST RENT
  • $1.25

    LIST RENT PER SQFT
  • $2,056

    COMP ESTIMATED VALUE
  • $1.25

    COMP AVG. RENT PER SQFT
Comps Range
$1,925
1$1,9252$2,0003$2,0604$2,0955$2,200
$2,200
RENT COMPS ANALYSIS
  • 2923 Cresthaven Drive Grapevine, TX 3
    • 3 beds 2 baths ∙ 1,645 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,645 Sqft ∙ Built 1983
    • Rent
    • Rent Per SQFT
    •  
    • $2,060
    • $1.25
    •  
  • 1906 Cheshire Drive Grapevine, TX 1
    • 3 beds 2 baths ∙ 1,524 Sqft ∙ Built 1995 3 beds 2 baths ∙ 1,524 Sqft ∙ Built 1995
    LEASED 07/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,925
    • $1.26
    •  
  • 2928 Brookshire Drive Grapevine, TX 2
    • 3 beds 3 baths ∙ 1,698 Sqft ∙ Built 1979 3 beds 3 baths ∙ 1,698 Sqft ∙ Built 1979
    LEASED 03/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $1.18
    •  
  • 1924 Twin Oaks Circle Grapevine, TX 4
    • 3 beds 2 baths ∙ 1,736 Sqft ∙ Built 2001 3 beds 2 baths ∙ 1,736 Sqft ∙ Built 2001
    LEASED 06/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,095
    • $1.21
    •  
  • 2929 Cresthaven Drive Grapevine, TX 5
    • 3 beds 2 baths ∙ 1,628 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,628 Sqft ∙ Built 1983
    LEASED 09/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $1.35
    •  
PROPERTY LISTING DETAILS
Chris Minteer
Keller Williams Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14500109
Last Updated: 01/15/2021
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