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3037 Thomas Court Grapevine, TX 76051

3 Beds 3 Baths 2,506 sqft Built 1996

$447,500

List Price

$2,800

$2.6K - $3.1K

Rent Est.

PROPERTY INFO

February 05, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1996
  • Price/Sqft : $178.57
  • 3 Days on Market
  • MLS # : 14512607
  • Updated Date : 02/06/2021 at 14:08
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,506 sqft
  • Baths : 2 full , 1 half
Listing Agent

Century 21 Judge Fite Co.

Listing Agent's Description

*MULTIPLE OFFERS received, please submit highest and best offer by Sunday Feb 7th at 12pm (noon)* Classic styled traditional home in award winning Carroll ISD. Home has a large backyard with mature trees and in a quiet neighborhood. Downstairs has a family room with a gas log fireplace and dry bar, a formal dining room, a well appointed large kitchen with a breakfast nook overlooking back yard and half bath. Upstairs has the bedrooms, *laundry room* and a second living room which could be converted to a 4th bedroom if needed. The primary bedroom is large with *two* walk-in closets and en suite bathroom has double vanities and large glassed in shower. Kitchen refrigerator will stay.

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: Pecan Gap

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360kPrice in $123k374k

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

Neighborhood: Pecan Gap

NeighborhoodNIR Market*CityMarket2010Year20002019 Q212001300140015001600170018001900200021002200230024002500Rent in $11262539

* 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
Jack D. Johnson Elementary School Primary Regular 526 37 10
Carroll Senior High School High Regular 1,284 76 10
Jack D. Johnson Elementary School Primary Unknown NA

Jack D. Johnson Elementary School

  • Education Level: Primary
  • # of students: 526
  • # of teachers: 37
10
GreatSchools Rating

Carroll Senior High School

  • Education Level: High
  • # of students: 1,284
  • # of teachers: 76
10
GreatSchools Rating

Jack D. Johnson Elementary School

  • Education Level: Primary
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$402,750$492,250$447,500

PURCHASE PRICE

$2,520$3,080$2,800

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,800
EXPENSES Loan Payment -$1,554
Property Tax -$850
Property Insurance -$172
Property Management Fees -$99
CASH FLOW
$124

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.

$447,500

PROJECTED PRICE

$2,800

PROJECTED RENT

0.63%

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$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$124,338

INVESTMENT

$124,338

Down Payment
$111,875
Rehab Estimate
$5,750
Closing Costs
$6,713

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,554

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $111,875
Loan Amount $335,625
See What Happens When You Reinvest Cash Flow

6

YEARS SAVED

$30,883

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,800

    LIST RENT
  • $1.12

    LIST RENT PER SQFT
  • $2,932

    COMP ESTIMATED VALUE
  • $1.17

    COMP AVG. RENT PER SQFT
Comps Range
$2,595
1$2,5952$2,8003$2,8004$2,9955$3,400
$3,400
RENT COMPS ANALYSIS
  • 3037 Thomas Court Grapevine, TX 3
    • 3 beds 3 baths ∙ 2,506 Sqft ∙ Built 1996 3 beds 3 baths ∙ 2,506 Sqft ∙ Built 1996
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $1.12
    •  
  • 1940 Longhorn Trail Grapevine, TX 1
    • 3 beds 2 baths ∙ 2,462 Sqft ∙ Built 1984 3 beds 2 baths ∙ 2,462 Sqft ∙ Built 1984
    property image
    LEASED 12/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,595
    • $1.05
    •  
  • 2716 Pin Oak Drive Grapevine, TX 2
    • 4 beds 3 baths ∙ 2,573 Sqft ∙ Built 1994 4 beds 3 baths ∙ 2,573 Sqft ∙ Built 1994
    property image
    LEASED 04/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $1.09
    •  
  • 2804 Woodhaven Drive Grapevine, TX 4
    • 4 beds 3 baths ∙ 2,451 Sqft ∙ Built 1995 4 beds 3 baths ∙ 2,451 Sqft ∙ Built 1995
    property image
    LEASED 08/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,995
    • $1.22
    •  
  • 2710 View Meadow Drive Grapevine, TX 5
    • 4 beds 3 baths ∙ 2,581 Sqft ∙ Built 1999 4 beds 3 baths ∙ 2,581 Sqft ∙ Built 1999
    property image
    LEASED 01/03/21
    • Rent
    • Rent Per SQFT
    •  
    • $3,400
    • $1.32
    •  
PROPERTY LISTING DETAILS
Stephanie Cress
Century 21 Judge Fite Co.
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14512607
Last Updated: 02/06/2021
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