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3806 Scenic Hill Lane Granbury, TX 76048

3 Beds 2 Baths 1,438 sqft Built 1988

$175,500

List Price

$1,450

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

January 16, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1988
  • Price/Sqft : $122.04
  • 2 Days on Market
  • MLS # : 14501332
  • Updated Date : 01/16/2021 at 21:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,438 sqft
  • Baths : 2 full
Listing Agent

Dave Perry Miller Real Estate

Listing Agent's Description

Sparkling clean and ready for you to move into this 3 bedroom, 2 full bath home with cozy fireplace and covered back patio under $200k! This home is ready for your creative updates! Enjoy the included empty corner lot adjacent to the property or subdivide and build a brand new home! So many possibilities. Corner lot has separate address: 617 Overhill Rd.

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

Zip Code: 76048

ZipNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240kPrice in $82k243k

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

Zip Code: 76048

ZipNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700Rent in $9991734

* 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
Mambrino Elementary School Primary Regular 563 34 5
Granbury Middle School Middle Regular 711 50 4
Granbury High School High Regular 1,414 115 6

Mambrino Elementary School

  • Education Level: Primary
  • # of students: 563
  • # of teachers: 34
5
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
 

$157,950$193,050$175,500

PURCHASE PRICE

$1,305$1,595$1,450

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,450
EXPENSES Loan Payment -$610
Property Tax -$238
Property Insurance -$110
Property Management Fees -$99
CASH FLOW
$393

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.

$175,500

PROJECTED PRICE

$1,450

PROJECTED RENT

0.83%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 5.4%
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$100k$200k$300k$400k$500k$600k$700k

PROJECTED ANNUAL CASH FLOW

11530$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$100k$200k$300k$400k$500k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$52,258

INVESTMENT

$52,258

Down Payment
$43,875
Rehab Estimate
$5,750
Closing Costs
$2,633

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 20% down payment or higher enables the proceeds from the asset to cover all costs.

$610

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $43,875
Loan Amount $131,625
See What Happens When You Reinvest Cash Flow

14.67

YEARS SAVED

$42,362

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,450

    LIST RENT
  • $1.01

    LIST RENT PER SQFT
  • $1,535

    COMP ESTIMATED VALUE
  • $1.07

    COMP AVG. RENT PER SQFT
Comps Range
$1,450
1$1,4502$1,5753$1,6504$1,6505$1,850
$1,850
RENT COMPS ANALYSIS
  • 3806 Scenic Hill Lane Granbury, TX 1
    • 3 beds 2 baths ∙ 1,438 Sqft ∙ Built 1988 3 beds 2 baths ∙ 1,438 Sqft ∙ Built 1988
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $1.01
    •  
  • 3902 Mountain Vista Drive Granbury, TX 2
    • 3 beds 2 baths ∙ 1,502 Sqft ∙ Built 2001 3 beds 2 baths ∙ 1,502 Sqft ∙ Built 2001
    LEASED 09/19/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,575
    • $1.05
    •  
  • 1310 W Chippewa Trail Granbury, TX 3
    • 3 beds 2 baths ∙ 1,606 Sqft ∙ Built 2007 3 beds 2 baths ∙ 1,606 Sqft ∙ Built 2007
    LEASED 04/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.03
    •  
  • 4103 Goliad Drive Granbury, TX 4
    • 3 beds 2 baths ∙ 1,455 Sqft ∙ Built 2008 3 beds 2 baths ∙ 1,455 Sqft ∙ Built 2008
    LEASED 01/06/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.13
    •  
  • 4001 Iron Horse Trail Granbury, TX 5
    • 4 beds 2 baths ∙ 1,738 Sqft ∙ Built 2008 4 beds 2 baths ∙ 1,738 Sqft ∙ Built 2008
    LEASED 12/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $1.06
    •  
PROPERTY LISTING DETAILS
Mo Mapes
Dave Perry Miller Real Estate
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14501332
Last Updated: 01/16/2021
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