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307 Sunrise Drive Granbury, TX 76049

4 Beds 3 Baths 2,310 sqft Built 2001

$315,000

List Price

$1,960

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

November 14, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2001
  • Price/Sqft : $136.36
  • 2 Days on Market
  • MLS # : 14471647
  • Updated Date : 11/14/2020 at 21:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,310 sqft
  • Baths : 3 full
Listing Agent

Magnolia Realty

Listing Agent's Description

Contemporary charm at its best! This updated four bedroom, three bath beauty boasts an open living area with wood burning see through fireplace to the formal dining, a welcoming kitchen with breakfast nook and spacious open shelving all around. The secluded master offers his and hers closets, a luxurious jetted tub, and separate shower. The fourth bedroom could be used as a second master and does offer convenient access to the back which features an open deck and a large fenced in backyard with multiple possibilities. With convenience to the Historic Granbury Square and the privacy this town offers for a DFW commute this one is definitely a must see today!

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
 

$283,500$346,500$315,000

PURCHASE PRICE

$1,764$2,156$1,960

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,960
EXPENSES Loan Payment -$1,162
Property Tax -$427
Property Insurance -$161
Property Management Fees -$99
CASH FLOW
$111

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.

$315,000

PROJECTED PRICE

$1,960

PROJECTED RENT

0.62%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 5.8%
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

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$89,225

INVESTMENT

$89,225

Down Payment
$78,750
Rehab Estimate
$5,750
Closing Costs
$4,725

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,162

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $78,750
Loan Amount $236,250
See What Happens When You Reinvest Cash Flow

7

YEARS SAVED

$31,109

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,960

    LIST RENT
  • $0.85

    LIST RENT PER SQFT
  • $2,270

    COMP ESTIMATED VALUE
  • $0.98

    COMP AVG. RENT PER SQFT
Comps Range
$1,960
1$1,9602$2,2003$2,2504$2,3005$2,350
$2,350
RENT COMPS ANALYSIS
  • 307 Sunrise Drive Granbury, TX 1
    • 4 beds 3 baths ∙ 2,310 Sqft ∙ Built 2001 4 beds 3 baths ∙ 2,310 Sqft ∙ Built 2001
    • Rent
    • Rent Per SQFT
    •  
    • $1,960
    • $0.85
    •  
  • 3230 Ferry Boat Lane Granbury, TX 2
    • 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
    •  
  • 302 Oar Wood Drive Granbury, TX 3
    • 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
    •  
  • 339 Paddle Boat Drive Granbury, TX 4
    • 4 beds 2 baths ∙ 2,333 Sqft ∙ Built 2017 4 beds 2 baths ∙ 2,333 Sqft ∙ Built 2017
    LEASED 03/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.99
    •  
  • 318 Oar Wood Drive Granbury, TX 5
    • 4 beds 2 baths ∙ 2,432 Sqft ∙ Built 2017 4 beds 2 baths ∙ 2,432 Sqft ∙ Built 2017
    LEASED 07/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $0.97
    •  
PROPERTY LISTING DETAILS
Zeke Dorr
Magnolia Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14471647
Last Updated: 11/14/2020
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