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3006 Stroll Drive Granbury, TX 76049

3 Beds 2 Baths 1,494 sqft Built 2001

INVESTimate

$214,900

List Price

$1,480

$1,332 - $1,628

Rent Est.

$227,257  ( +5.75%)   1 YR EST. FORECAST

PROPERTY INFO

August 24, 2020 RECENTLY ADDED
FACTS
  • Built In 2001
  • Price/Sqft : $143.84
  • 3 Days on Market
  • MLS # : 14417782
  • Updated Date : 08/25/2020 at 02:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,494 sqft
  • Baths : 2 full
Listing Agent

Knieper Realty, Inc.

Listing Agent's Description

Charming home in family friendly neighborhood of Meander Estates. Spacious living room with beautiful wainscoting and corner wood burning fireplace lead into the dining room area boasting lots of natural light. Kitchen updated with new stove and microwave. New insulation and new wood-like laminate floors & New Low E Vinyl Windows throughout this 3 bedroom, 2 bath home! Front and back yards are landscaped nicely and feature a sprinkler system. Large fenced backyard has a patio, shade tree and plenty of room for kids and pets to play. Neighborhood amenities include a community pond, playground, park area, and tennis courts. Great location near Granbury shopping centers and an easy commute to the DFW Metroplex.

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: 76049

ZipNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240kPrice in $96k250k

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

Zip Code: 76049

ZipNIR Market*CityMarket2010Year20002019 Q2115012001250130013501400145015001550160016501700Rent in $11261734

* 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
Oak Woods Intermediate School Primary Regular 593 31 7
Acton Middle School Middle Regular 821 48 6
Granbury High School High Regular 1,414 115 6

Oak Woods Intermediate School

  • Education Level: Primary
  • # of students: 593
  • # of teachers: 31
7
GreatSchools Rating

Acton Middle School

  • Education Level: Middle
  • # of students: 821
  • # of teachers: 48
6
GreatSchools Rating

Granbury High School

  • Education Level: High
  • # of students: 1,414
  • # of teachers: 115
6
GreatSchools Rating
 

$193,410$236,390$214,900

PURCHASE PRICE

$1,332$1,628$1,480

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,480
EXPENSES Loan Payment -$793
Property Tax -$291
Property Insurance -$114
HOA -$13
Property Management Fees -$99
CASH FLOW
$171

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.

$214,900

PROJECTED PRICE

$1,480

PROJECTED RENT

0.69%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 5.75%
Maintenance Year (1-5) 8.00%
Vacancy 6.39%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$62,699

INVESTMENT

$62,699

Down Payment
$53,725
Rehab Estimate
$5,750
Closing Costs
$3,224

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$793

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $53,725
Loan Amount $161,175
See What Happens When You Reinvest Cash Flow

9.17

YEARS SAVED

$31,161

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,480

    LIST RENT
  • $0.99

    LIST RENT PER SQFT
  • $1,472

    COMP ESTIMATED VALUE
  • $0.98

    COMP AVG. RENT PER SQFT
Comps Range
$1,425
1$1,4252$1,4503$1,4804$1,4955$1,500
$1,500
RENT COMPS ANALYSIS
  • 3006 Stroll Drive Granbury, TX 3
    • 3 beds 2 baths ∙ 1,494 Sqft ∙ Built 2001 3 beds 2 baths ∙ 1,494 Sqft ∙ Built 2001
    • Rent
    • Rent Per SQFT
    •  
    • $1,480
    • $0.99
    •  
  • 812 Rambling Court Granbury, TX 1
    • 3 beds 2 baths ∙ 1,356 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,356 Sqft ∙ Built 2006
    LEASED 07/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,425
    • $1.05
    •  
  • 2918 Meandering Way Granbury, TX 2
    • 3 beds 2 baths ∙ 1,503 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,503 Sqft ∙ Built 2002
    LEASED 09/07/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.96
    •  
  • 3204 Estate Drive Granbury, TX 4
    • 3 beds 2 baths ∙ 1,565 Sqft ∙ Built 2007 3 beds 2 baths ∙ 1,565 Sqft ∙ Built 2007
    LEASED 02/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.96
    •  
  • 813 Rambling Court Granbury, TX 5
    • 3 beds 2 baths ∙ 1,541 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,541 Sqft ∙ Built 2006
    LEASED 06/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.97
    •  
PROPERTY LISTING DETAILS
Pam Knieper
Knieper Realty, Inc.
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14417782
Last Updated: 08/25/2020
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