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3107 Promenade Drive Granbury, TX 76049

4 Beds 3 Baths 1,882 sqft Built 2021

$334,900

List Price

$1,870

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

Built 2021 NEW CONSTRUCTION
February 12, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2021
  • Price/Sqft : $177.95
  • 3 Days on Market
  • MLS # : 14518174
  • Updated Date : 02/12/2021 at 18:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,882 sqft
  • Baths : 2 full , 1 half
Listing Agent

Horton Neely Realtors, Llc

Listing Agent's Description

Farm house inspired new build near HEB in Granbury. This home offers tons of stylish design features but also a lot of storage and functionality. Open concept floor plan and one height island in the kitchen makes the space feel even larger than it is. Many features in this home are other builder's upgrades. Such as full spray foam encapsulation, low E vinyl windows, and Whirlpool appliances, wood look designer tile in all main areas, two stage crown molding in living an master bedroom, rounded corners and many many more that can't be beat. You do not want to miss out on viewing this 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
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
 

$301,410$368,390$334,900

PURCHASE PRICE

$1,683$2,057$1,870

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,870
EXPENSES Loan Payment -$1,163
Property Tax -$454
Property Insurance -$136
HOA -$13
Property Management Fees -$99
CASH FLOW
$5

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 9% of earned rent to cover both maintenance and periods of vacancy.

$334,900

PROJECTED PRICE

$1,870

PROJECTED RENT

0.56%

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) 3.00%
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

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$90,749

INVESTMENT

$90,749

Down Payment
$83,725
Rehab Estimate
$2,000
Closing Costs
$5,024

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,163

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $83,725
Loan Amount $251,175
See What Happens When You Reinvest Cash Flow

5.08

YEARS SAVED

$17,695

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,870

    LIST RENT
  • $0.99

    LIST RENT PER SQFT
  • $1,830

    COMP ESTIMATED VALUE
  • $0.97

    COMP AVG. RENT PER SQFT
Comps Range
$1,495
1$1,4952$1,5953$1,8704$1,8955$1,950
$1,950
RENT COMPS ANALYSIS
  • 3107 Promenade Drive Granbury, TX 3
    • 4 beds 3 baths ∙ 1,882 Sqft ∙ Built 2021 4 beds 3 baths ∙ 1,882 Sqft ∙ Built 2021
    • Rent
    • Rent Per SQFT
    •  
    • $1,870
    • $0.99
    •  
  • 3204 Estate Drive Granbury, TX 1
    • 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
    •  
  • 3017 Stroll Drive Granbury, TX 2
    • 4 beds 2 baths ∙ 1,807 Sqft ∙ Built 2003 4 beds 2 baths ∙ 1,807 Sqft ∙ Built 2003
    LEASED 09/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.88
    •  
  • 3113 Meandering Way Granbury, TX 4
    • 3 beds 2 baths ∙ 1,896 Sqft ∙ Built 2008 3 beds 2 baths ∙ 1,896 Sqft ∙ Built 2008
    LEASED 12/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $1.00
    •  
  • 803 Wandering Court Granbury, TX 5
    • 3 beds 2 baths ∙ 1,853 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,853 Sqft ∙ Built 2005
    LEASED 10/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $1.05
    •  
PROPERTY LISTING DETAILS
Laiken Clayton
Horton Neely Realtors, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14518174
Last Updated: 02/12/2021
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