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3506 Blueberry Lane Grapevine, TX 76051

4 Beds 3 Baths 2,702 sqft Built 1982

$500,000

List Price

$3,020

$2.8K - $3.3K

Rent Est.

PROPERTY INFO

November 06, 2020 RECENTLY ADDED
FACTS
  • Built In 1982
  • Price/Sqft : $185.05
  • 3 Days on Market
  • MLS # : 14465388
  • Updated Date : 11/06/2020 at 12:13
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,702 sqft
  • Baths : 2 full , 1 half
Listing Agent

Keller Williams Realty

Listing Agent's Description

Want the feel of an acre without the maintenance? Rare single story home on an acre with lots of hardscape that creates spaciousness without maintenance. Step out onto the deck for an overall view of the pool area, meandering stone walkways, pause to enjoy the stone walls and raised beds with drought tolerant plants, even a storage area for garden equipment and pool supplies. Need space for big boy toys, boat or RV; got it. Great natural light through large windows with backyard views. Built ins and fireplace in spacious living room. Blank slate and price for you to make desired improvements. Quiet location close to park, easy access to highways, shopping, dining, schools, and historic Grapevine Main Street.

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: Druid Hills

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550kPrice in $123k575k

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

Neighborhood: Druid Hills

NeighborhoodNIR Market*CityMarket2010Year20002019 Q212001400160018002000220024002600280030003200Rent in $11263378

* 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
Cross Timbers Middle School Middle Regular 795 50 7
Grapevine High School High Regular 2,015 129 7

O C Taylor Elementary School

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

Cross Timbers Middle School

  • Education Level: Middle
  • # of students: 795
  • # of teachers: 50
7
GreatSchools Rating

Grapevine High School

  • Education Level: High
  • # of students: 2,015
  • # of teachers: 129
7
GreatSchools Rating
 

$450,000$550,000$500,000

PURCHASE PRICE

$2,718$3,322$3,020

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,020
EXPENSES Loan Payment -$1,845
Property Tax -$950
Property Insurance -$183
Property Management Fees -$99
CASH FLOW
-$57

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.

$500,000

PROJECTED PRICE

$3,020

PROJECTED RENT

0.60%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.00%
Appreciation Year (1-5) 7.2%
Maintenance Year (1-5) 8.00%
Vacancy 7.37%
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$1.6M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$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$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$138,250

INVESTMENT

$138,250

Down Payment
$125,000
Rehab Estimate
$5,750
Closing Costs
$7,500

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,845

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $125,000
Loan Amount $375,000
See What Happens When You Reinvest Cash Flow

4.08

YEARS SAVED

$23,299

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,020

    LIST RENT
  • $1.12

    LIST RENT PER SQFT
  • $2,810

    COMP ESTIMATED VALUE
  • $1.04

    COMP AVG. RENT PER SQFT
Comps Range
$2,600
1$2,6002$2,6963$2,7004$2,9955$3,020
$3,020
RENT COMPS ANALYSIS
  • 3506 Blueberry Lane Grapevine, TX 5
    • 4 beds 3 baths ∙ 2,702 Sqft ∙ Built 1982 4 beds 3 baths ∙ 2,702 Sqft ∙ Built 1982
    • Rent
    • Rent Per SQFT
    •  
    • $3,020
    • $1.12
    •  
  • 3541 Hightimber Drive Grapevine, TX 1
    • 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
    •  
  • 3222 Mapleridge Drive Grapevine, TX 2
    • 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 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
    •  
  • 2725 Greenbrook Court Grapevine, TX 4
    • 5 beds 3 baths ∙ 2,954 Sqft ∙ Built 1990 5 beds 3 baths ∙ 2,954 Sqft ∙ Built 1990
    LEASED 03/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,995
    • $1.01
    •  
PROPERTY LISTING DETAILS
Paul Tosello
Keller Williams Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14465388
Last Updated: 11/06/2020
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