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3220 Meandering Way Granbury, TX 76049

4 Beds 2 Baths 1,744 sqft Built 2006

$300,000

List Price

$1,740

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

January 23, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2006
  • Price/Sqft : $172.02
  • 2 Days on Market
  • MLS # : 14501846
  • Updated Date : 01/23/2021 at 13:53
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,744 sqft
  • Baths : 2 full
Listing Agent

Elevate Realty Group

Listing Agent's Description

Come see this 4 bedroom home on a nice sized lot, located close to shopping on the Fort Worth side of Granbury. Spacious bedrooms, large master with custom en suite, updated flooring and paint, nice sized closets and plenty of room for family and friends. You'll love the backyard with a custom deck for entertaining and storage building. The spacious kitchen also offers a breakfast area with custom built-ins and plenty of storage room. Great location and price, you won't want to miss this one!

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

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
 

$270,000$330,000$300,000

PURCHASE PRICE

$1,566$1,914$1,740

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,740
EXPENSES Loan Payment -$1,042
Property Tax -$406
Property Insurance -$128
HOA -$13
Property Management Fees -$99
CASH FLOW
$51

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.

$300,000

PROJECTED PRICE

$1,740

PROJECTED RENT

0.58%

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$85,250

INVESTMENT

$85,250

Down Payment
$75,000
Rehab Estimate
$5,750
Closing Costs
$4,500

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,042

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $75,000
Loan Amount $225,000
See What Happens When You Reinvest Cash Flow

5.67

YEARS SAVED

$19,648

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,740

    LIST RENT
  • $1

    LIST RENT PER SQFT
  • $1,696

    COMP ESTIMATED VALUE
  • $0.97

    COMP AVG. RENT PER SQFT
Comps Range
$1,495
1$1,4952$1,5953$1,7404$1,8955$1,950
$1,950
RENT COMPS ANALYSIS
  • 3220 Meandering Way Granbury, TX 3
    • 4 beds 2 baths ∙ 1,744 Sqft ∙ Built 2006 4 beds 2 baths ∙ 1,744 Sqft ∙ Built 2006
    • Rent
    • Rent Per SQFT
    •  
    • $1,740
    • $1.00
    •  
  • 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
Randall Luna
Elevate Realty Group
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14501846
Last Updated: 01/23/2021
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