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3617 Granbury Drive Dallas, TX 75287

3 Beds 2 Baths 1,609 sqft Built 1999

$350,000

List Price

$2,100

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

February 09, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1999
  • Price/Sqft : $217.53
  • 6 Days on Market
  • MLS # : 14516249
  • Updated Date : 02/09/2021 at 20:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,609 sqft
  • Baths : 2 full
Listing Agent

Opendoor Brokerage, Llc

Listing Agent's Description

This Dallas one-story cul-de-sac home offers a patio, granite countertops, and a two-car garage. This home is vacant and cleaned regularly.

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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: Midway Meadows

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400kPrice in $102k426k

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

Neighborhood: Midway Meadows

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000110012001300140015001600170018001900200021002200Rent in $9472287

* 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
Kathryn S. Mcwhorter Elementary School Primary Regular 717 40 2
Ted Polk Middle School Middle Regular 1,100 64 4
Newman Smith High School High Regular 1,973 126 6

Kathryn S. Mcwhorter Elementary School

  • Education Level: Primary
  • # of students: 717
  • # of teachers: 40
2
GreatSchools Rating

Ted Polk Middle School

  • Education Level: Middle
  • # of students: 1,100
  • # of teachers: 64
4
GreatSchools Rating

Newman Smith High School

  • Education Level: High
  • # of students: 1,973
  • # of teachers: 126
6
GreatSchools Rating
 

$315,000$385,000$350,000

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 -$1,216
Property Tax -$692
Property Insurance -$120
HOA -$100
Property Management Fees -$99
CASH FLOW
-$127

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.

$350,000

PROJECTED PRICE

$2,100

PROJECTED RENT

0.60%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 3.9%
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

PROJECTED ANNUAL CASH FLOW

11530-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k

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$98,500

INVESTMENT

$98,500

Down Payment
$87,500
Rehab Estimate
$5,750
Closing Costs
$5,250

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,216

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $87,500
Loan Amount $262,500
See What Happens When You Reinvest Cash Flow

2.5

YEARS SAVED

$7,098

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
  • $1.31

    LIST RENT PER SQFT
  • $2,096

    COMP ESTIMATED VALUE
  • $1.3

    COMP AVG. RENT PER SQFT
Comps Range
$1,800
1$1,8002$2,1003$2,1004$2,1005$2,350
$2,350
RENT COMPS ANALYSIS
  • 3617 Granbury Drive Dallas, TX 4
    • 3 beds 2 baths ∙ 1,609 Sqft ∙ Built 1999 3 beds 2 baths ∙ 1,609 Sqft ∙ Built 1999
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.31
    •  
  • 4017 Windhaven Lane Dallas, TX 1
    • 3 beds 2 baths ∙ 1,433 Sqft ∙ Built 1984 3 beds 2 baths ∙ 1,433 Sqft ∙ Built 1984
    LEASED 12/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $1.26
    •  
  • 18851 Park Grove Lane Dallas, TX 2
    • 3 beds 2 baths ∙ 1,682 Sqft ∙ Built 1997 3 beds 2 baths ∙ 1,682 Sqft ∙ Built 1997
    LEASED 07/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.25
    •  
  • 3618 Rodale Way Dallas, TX 3
    • 3 beds 2 baths ∙ 1,548 Sqft ∙ Built 1998 3 beds 2 baths ∙ 1,548 Sqft ∙ Built 1998
    LEASED 08/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.36
    •  
  • 18219 Muir Circle Dallas, TX 5
    • 3 beds 2 baths ∙ 1,748 Sqft ∙ Built 1995 3 beds 2 baths ∙ 1,748 Sqft ∙ Built 1995
    LEASED 08/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $1.34
    •  
PROPERTY LISTING DETAILS
Feras Rachid
Opendoor Brokerage, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14516249
Last Updated: 02/09/2021
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