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304 Oar Wood Drive Granbury, TX 76049

3 Beds 2 Baths 2,027 sqft Built 2014

INVESTimate

$369,000

List Price

$1,990

$1,791 - $2,189

Rent Est.

$390,218  ( +5.75%)   1 YR EST. FORECAST

PROPERTY INFO

August 22, 2020 RECENTLY ADDED
FACTS
  • Built In 2014
  • Price/Sqft : $182.04
  • 5 Days on Market
  • MLS # : 14418923
  • Updated Date : 08/22/2020 at 07:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,027 sqft
  • Baths : 2 full
Listing Agent

Elite Agents

Listing Agent's Description

Welcome to this fully custom home in prestigious Abes Landing. Elegance through this entire home with pride of ownership showing throughout! 3 bedrooms, 2 full baths, large open living, open kitchen, breakfast area, pocket office room, split bedrooms, large master bath with walk in shower, spacious utility with plenty of countertops and cabinets. Granite countertops, wood like tile, large open and light windows looking out to swimming pool, numerous white cabinets in kitchen, large island, walk in pantry, stainless appliances. Back yard has fully heated attached spa and pool, pergola, low maintenance pebbled yard, wrought iron fence. No homes behind you! Full sprinkler system, sod, landscaping. Must see home!

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
Baccus Elementary School Primary Regular 539 31 4
Granbury Middle School Middle Regular 711 50 4
Granbury High School High Regular 1,414 115 6

Baccus Elementary School

  • Education Level: Primary
  • # of students: 539
  • # of teachers: 31
4
GreatSchools Rating

Granbury Middle School

  • Education Level: Middle
  • # of students: 711
  • # of teachers: 50
4
GreatSchools Rating

Granbury High School

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

$332,100$405,900$369,000

PURCHASE PRICE

$1,791$2,189$1,990

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$10k

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 $1,990
EXPENSES Loan Payment -$1,361
Property Tax -$500
Property Insurance -$144
HOA -$79
Property Management Fees -$99
CASH FLOW
-$194

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.

$369,000

PROJECTED PRICE

$1,990

PROJECTED RENT

0.54%

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$103,535

INVESTMENT

$103,535

Down Payment
$92,250
Rehab Estimate
$5,750
Closing Costs
$5,535

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,361

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $92,250
Loan Amount $276,750
See What Happens When You Reinvest Cash Flow

2.42

YEARS SAVED

$8,304

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,990

    LIST RENT
  • $0.98

    LIST RENT PER SQFT
  • $2,037

    COMP ESTIMATED VALUE
  • $1.01

    COMP AVG. RENT PER SQFT
Comps Range
$1,850
1$1,8502$1,9903$2,2004$2,2505$2,250
$2,250
RENT COMPS ANALYSIS
  • 304 Oar Wood Drive Granbury, TX 2
    • 3 beds 2 baths ∙ 2,027 Sqft ∙ Built 2014 3 beds 2 baths ∙ 2,027 Sqft ∙ Built 2014
    • Rent
    • Rent Per SQFT
    •  
    • $1,990
    • $0.98
    •  
  • 204 Captains Court Granbury, TX 1
    • 3 beds 2 baths ∙ 1,696 Sqft ∙ Built 2012 3 beds 2 baths ∙ 1,696 Sqft ∙ Built 2012
    LEASED 07/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $1.09
    •  
  • 3230 Ferry Boat Lane Granbury, TX 3
    • 4 beds 3 baths ∙ 2,334 Sqft ∙ Built 2011 4 beds 3 baths ∙ 2,334 Sqft ∙ Built 2011
    LEASED 12/02/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.94
    •  
  • 317 Oar Wood Drive Granbury, TX 4
    • 4 beds 2 baths ∙ 2,333 Sqft ∙ Built 2017 4 beds 2 baths ∙ 2,333 Sqft ∙ Built 2017
    LEASED 09/30/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $0.96
    •  
  • 302 Oar Wood Drive Granbury, TX 5
    • 4 beds 2 baths ∙ 2,176 Sqft ∙ Built 2015 4 beds 2 baths ∙ 2,176 Sqft ∙ Built 2015
    LEASED 08/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $1.03
    •  
PROPERTY LISTING DETAILS
Scott Ashford
Elite Agents
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14418923
Last Updated: 08/22/2020
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