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3322 Sprindeltree Drive Grapevine, TX 76051

4 Beds 3 Baths 2,338 sqft Built 1988

$374,900

List Price

$2,420

$2.2K - $2.7K

Rent Est.

PROPERTY INFO

February 04, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1988
  • Price/Sqft : $160.35
  • 4 Days on Market
  • MLS # : 14510897
  • Updated Date : 02/06/2021 at 16:03
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,338 sqft
  • Baths : 2 full , 1 half
Listing Agent

Coldwell Banker Apex, Realtors

Listing Agent's Description

*Offer Selected* Immaculate, move in ready Grapevine 4 bedroom, 2.5 bath home with new carpet, new paint, newer fixtures. Fresh neutral tone paint awaiting your personal decorator touches. All living on the main level & bedrooms upstairs. Two living areas. Family room with an attractive fireplace & featuring a wall of windows revealing the spacious patio & oversized yard. Kitchen with granite counters, composite granite sink, abundance of cabinets & breakfast bar open to the family room. Oversized upscale tile in the foyer, kitchen and breakfast room. 28 new windows, new tile in master bath. Updated plumbing fixtures, newer light fixtures. Close to shopping, highways and schools. Great location.

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

Neighborhood: Countryside Estates

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360kPrice in $123k379k

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

Neighborhood: Countryside Estates

NeighborhoodNIR Market*CityMarket2010Year20002019 Q212001400160018002000220024002600Rent in $11262712

* 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
O C Taylor Elementary School Primary Regular 450 30 10
Colleyville Middle School Middle Regular 725 40 9
Colleyville Heritage High School High Regular 2,222 135 8

O C Taylor Elementary School

  • Education Level: Primary
  • # of students: 450
  • # of teachers: 30
10
GreatSchools Rating

Colleyville Middle School

  • Education Level: Middle
  • # of students: 725
  • # of teachers: 40
9
GreatSchools Rating

Colleyville Heritage High School

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

$337,410$412,390$374,900

PURCHASE PRICE

$2,178$2,662$2,420

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,420
EXPENSES Loan Payment -$1,302
Property Tax -$712
Property Insurance -$162
Property Management Fees -$99
CASH FLOW
$144

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.

$374,900

PROJECTED PRICE

$2,420

PROJECTED RENT

0.65%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 7.2%
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

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$105,099

INVESTMENT

$105,099

Down Payment
$93,725
Rehab Estimate
$5,750
Closing Costs
$5,624

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,302

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $93,725
Loan Amount $281,175
See What Happens When You Reinvest Cash Flow

6.5

YEARS SAVED

$29,289

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,420

    LIST RENT
  • $1.04

    LIST RENT PER SQFT
  • $2,396

    COMP ESTIMATED VALUE
  • $1.03

    COMP AVG. RENT PER SQFT
Comps Range
$2,100
1$2,1002$2,2003$2,4204$2,6965$2,700
$2,700
RENT COMPS ANALYSIS
  • 3322 Sprindeltree Drive Grapevine, TX 3
    • 4 beds 3 baths ∙ 2,338 Sqft ∙ Built 1988 4 beds 3 baths ∙ 2,338 Sqft ∙ Built 1988
    • Rent
    • Rent Per SQFT
    •  
    • $2,420
    • $1.04
    •  
  • 4147 Cedar Drive Grapevine, TX 1
    • 4 beds 3 baths ∙ 2,292 Sqft ∙ Built 1985 4 beds 3 baths ∙ 2,292 Sqft ∙ Built 1985
    LEASED 03/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.92
    •  
  • 4106 Countryside Drive Grapevine, TX 2
    • 3 beds 3 baths ∙ 2,200 Sqft ∙ Built 1986 3 beds 3 baths ∙ 2,200 Sqft ∙ Built 1986
    LEASED 08/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $1.00
    •  
  • 3222 Mapleridge Drive Grapevine, TX 4
    • 4 beds 3 baths ∙ 2,418 Sqft ∙ Built 1989 4 beds 3 baths ∙ 2,418 Sqft ∙ Built 1989
    LEASED 03/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,696
    • $1.11
    •  
  • 4118 Heartstone Drive Grapevine, TX 5
    • 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
    •  
PROPERTY LISTING DETAILS
Geoffrey Walsh
Coldwell Banker Apex, Realtors
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14510897
Last Updated: 02/06/2021
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