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329 Paddle Boat Drive Granbury, TX 76049

3 Beds 2 Baths 2,079 sqft Built 2018

$329,000

List Price

$2,100

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

January 12, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2018
  • Price/Sqft : $158.25
  • 6 Days on Market
  • MLS # : 14497618
  • Updated Date : 01/12/2021 at 13:18
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,079 sqft
  • Baths : 2 full
Listing Agent

Elevate Realty Group

Listing Agent's Description

Built in 2018, this almost brand new home comes with many of the modern features and design you'd expect in a new build. Situated in the sought-after Abes Landing subdivision of Granbury, this home features granite everywhere, open concept, custom tiled floors and bathrooms, custom trim and cabinetry, neutral paint scheme and designer fixtures. The large master comes with a custom en suite, huge master closet and spacious spare bedrooms with separate office-study. The newness of the home means efficient features such as SS Energy Star Appliances, gas cooktop, double-paned windows, and highly efficient HVAC and WH, which means huge savings on utilities. Come see this awesome home while it lasts!

SEE MORE

MARKET HIGHLIGHTS

  • # 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)
  • . Dallas has 7th largest concentration of high-tech jobs in the U.S. (Dallas Chamber)

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
 

$296,100$361,900$329,000

PURCHASE PRICE

$1,890$2,310$2,100

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,100
EXPENSES Loan Payment -$1,143
Property Tax -$472
Property Insurance -$147
HOA -$79
Property Management Fees -$99
CASH FLOW
$160

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.

$329,000

PROJECTED PRICE

$2,100

PROJECTED RENT

0.64%

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$92,935

INVESTMENT

$92,935

Down Payment
$82,250
Rehab Estimate
$5,750
Closing Costs
$4,935

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,143

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $82,250
Loan Amount $246,750
See What Happens When You Reinvest Cash Flow

7.33

YEARS SAVED

$29,768

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,100

    LIST RENT
  • $1.01

    LIST RENT PER SQFT
  • $2,121

    COMP ESTIMATED VALUE
  • $1.02

    COMP AVG. RENT PER SQFT
Comps Range
$1,925
1$1,9252$2,1003$2,250
$2,250
RENT COMPS ANALYSIS
  • 329 Paddle Boat Drive Granbury, TX 2
    • 3 beds 2 baths ∙ 2,079 Sqft ∙ Built 2018 3 beds 2 baths ∙ 2,079 Sqft ∙ Built 2018
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.01
    •  
  • 307 Oar Wood Drive Granbury, TX 1
    • 3 beds 3 baths ∙ 1,912 Sqft ∙ Built 2014 3 beds 3 baths ∙ 1,912 Sqft ∙ Built 2014
    LEASED 09/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,925
    • $1.01
    •  
  • 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
    •  
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 #: 14497618
Last Updated: 01/12/2021
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