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3720 Granbury Drive Dallas, TX 75287

3 Beds 3 Baths 2,199 sqft Built 1999

$347,000

List Price

$2,270

$2K - $2.5K

Rent Est.

PROPERTY INFO

November 07, 2020 RECENTLY ADDED
FACTS
  • Built In 1999
  • Price/Sqft : $157.80
  • 2 Days on Market
  • MLS # : 14467525
  • Updated Date : 11/07/2020 at 17:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,199 sqft
  • Baths : 2 full , 1 half
Listing Agent

Keller Williams Realty Allen

Listing Agent's Description

Charming, ready to move in 3 bedroom, 2.1 bath home perfectly located to go downtown, airports or major freeways. Open floor plan that gives great space for entertaining or just hanging out with friends. Three bedrooms and two baths located upstairs. Kitchen is well equipped for all of your prep and cooking needs. If you enjoy the outdoors spend time on the covered patio or the wooded deck would be great for your grill and space for table and chairs. The community pool, elementary school are within walking distance. HOA includes front yard maintenance. Make your plans to see it soon, you wouldn't want it to get away from your choosey clients.

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: 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
 

$312,300$381,700$347,000

PURCHASE PRICE

$2,043$2,497$2,270

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,270
EXPENSES Loan Payment -$1,280
Property Tax -$686
Property Insurance -$154
HOA -$100
Property Management Fees -$99
CASH FLOW
-$49

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.

$347,000

PROJECTED PRICE

$2,270

PROJECTED RENT

0.65%

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$1.0M

PROJECTED ANNUAL CASH FLOW

11530-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

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$97,705

INVESTMENT

$97,705

Down Payment
$86,750
Rehab Estimate
$5,750
Closing Costs
$5,205

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,280

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $86,750
Loan Amount $260,250
See What Happens When You Reinvest Cash Flow

3.67

YEARS SAVED

$14,558

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,270

    LIST RENT
  • $1.03

    LIST RENT PER SQFT
  • $2,265

    COMP ESTIMATED VALUE
  • $1.03

    COMP AVG. RENT PER SQFT
Comps Range
$2,150
1$2,1502$2,1503$2,2704$2,3005$2,400
$2,400
RENT COMPS ANALYSIS
  • 3720 Granbury Drive Dallas, TX 3
    • 3 beds 3 baths ∙ 2,199 Sqft ∙ Built 1999 3 beds 3 baths ∙ 2,199 Sqft ∙ Built 1999
    • Rent
    • Rent Per SQFT
    •  
    • $2,270
    • $1.03
    •  
  • 4015 Timberglen Road Dallas, TX 1
    • 3 beds 3 baths ∙ 2,029 Sqft ∙ Built 1992 3 beds 3 baths ∙ 2,029 Sqft ∙ Built 1992
    LEASED 02/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $1.06
    •  
  • 3725 Sam Rayburn Trail Dallas, TX 2
    • 3 beds 2 baths ∙ 2,059 Sqft ∙ Built 1999 3 beds 2 baths ∙ 2,059 Sqft ∙ Built 1999
    LEASED 10/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $1.04
    •  
  • 3616 Sam Rayburn Trail Dallas, TX 4
    • 3 beds 2 baths ∙ 2,293 Sqft ∙ Built 1999 3 beds 2 baths ∙ 2,293 Sqft ∙ Built 1999
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.00
    •  
  • 3744 Rodale Way Dallas, TX 5
    • 3 beds 3 baths ∙ 2,347 Sqft ∙ Built 1998 3 beds 3 baths ∙ 2,347 Sqft ∙ Built 1998
    LEASED 10/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.02
    •  
PROPERTY LISTING DETAILS
Steve Roseberry
Keller Williams Realty Allen
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14467525
Last Updated: 11/07/2020
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