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3221 Birch Avenue Grapevine, TX 76051

4 Beds 3 Baths 2,687 sqft Built 1989

$430,000

List Price

$2,840

$2.6K - $3.1K

Rent Est.

PROPERTY INFO

January 30, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1989
  • Price/Sqft : $160.03
  • 2 Days on Market
  • MLS # : 14508848
  • Updated Date : 01/30/2021 at 23:25
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,687 sqft
  • Baths : 2 full , 1 half
Listing Agent

Keller Williams Realty

Listing Agent's Description

A must see! Great location, beautiful home with stone & brick exterior in Stone Gate! Highlights inc. renovated open, spacious chefs dream kitchen with an abundance of alder cabinets, stone countertops, SS refrigerator, full size SS freezer, oversized island w. counter seating, & French glass doors that open to the fabulous, large covered, entertainers dream patio (2019) and fenced private yard. The downstairs, private Master Suite features a recently updated gorgeous Master bathroom (2021). 3 large upstairs bedrooms plus a large bonus room! Formal dining room, 2 living areas. Located 2 blocks from Heritage ES, Middle & High School. Fresh paint upstairs (2021),newer roof (2019), newer flooring and so much more!

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

Neighborhood: Stone Gate

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450kPrice in $123k455k

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

Neighborhood: Stone Gate

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21200140016001800200022002400260028003000Rent in $11263088

* 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
Heritage Elementary School Primary Regular 454 29 9
Colleyville Heritage High School High Regular 2,222 135 8
Colleyville Heritage High School High Unknown NA

Heritage Elementary School

  • Education Level: Primary
  • # of students: 454
  • # of teachers: 29
9
GreatSchools Rating

Colleyville Heritage High School

  • Education Level: High
  • # of students: 2,222
  • # of teachers: 135
8
GreatSchools Rating

Colleyville Heritage High School

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

$387,000$473,000$430,000

PURCHASE PRICE

$2,556$3,124$2,840

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,840
EXPENSES Loan Payment -$1,494
Property Tax -$817
Property Insurance -$182
Property Management Fees -$99
CASH FLOW
$248

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.

$430,000

PROJECTED PRICE

$2,840

PROJECTED RENT

0.66%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 7.0%
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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$119,700

INVESTMENT

$119,700

Down Payment
$107,500
Rehab Estimate
$5,750
Closing Costs
$6,450

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,494

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $107,500
Loan Amount $322,500
See What Happens When You Reinvest Cash Flow

7.5

YEARS SAVED

$41,296

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,840

    LIST RENT
  • $1.06

    LIST RENT PER SQFT
  • $2,821

    COMP ESTIMATED VALUE
  • $1.05

    COMP AVG. RENT PER SQFT
Comps Range
$2,600
1$2,6002$2,6003$2,7004$2,8405$2,995
$2,995
RENT COMPS ANALYSIS
  • 3221 Birch Avenue Grapevine, TX 4
    • 4 beds 3 baths ∙ 2,687 Sqft ∙ Built 1989 4 beds 3 baths ∙ 2,687 Sqft ∙ Built 1989
    • Rent
    • Rent Per SQFT
    •  
    • $2,840
    • $1.06
    •  
  • 3320 Circlewood Court Grapevine, TX 1
    • 4 beds 3 baths ∙ 2,619 Sqft ∙ Built 1988 4 beds 3 baths ∙ 2,619 Sqft ∙ Built 1988
    LEASED 09/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $0.99
    •  
  • 3541 Hightimber Drive Grapevine, TX 2
    • 3 beds 3 baths ∙ 2,675 Sqft ∙ Built 1984 3 beds 3 baths ∙ 2,675 Sqft ∙ Built 1984
    LEASED 06/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $0.97
    •  
  • 4118 Heartstone Drive Grapevine, TX 3
    • 4 beds 3 baths ∙ 2,518 Sqft ∙ Built 1985 4 beds 3 baths ∙ 2,518 Sqft ∙ Built 1985
    LEASED 09/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $1.07
    •  
  • 3530 Deer Creek Grapevine, TX 5
    • 4 beds 3 baths ∙ 2,560 Sqft ∙ Built 1984 4 beds 3 baths ∙ 2,560 Sqft ∙ Built 1984
    LEASED 07/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,995
    • $1.17
    •  
PROPERTY LISTING DETAILS
Desiree Milligan
Keller Williams Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14508848
Last Updated: 01/30/2021
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