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4415 Asbury Drive Grapevine, TX 76051

3 Beds 2 Baths 1,876 sqft Built 1989

$340,000

List Price

$2,160

$1.9K - $2.4K

Rent Est.

PROPERTY INFO

November 06, 2020 RECENTLY ADDED
FACTS
  • Built In 1989
  • Price/Sqft : $181.24
  • 3 Days on Market
  • MLS # : 14464949
  • Updated Date : 11/06/2020 at 21:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,876 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Realty

Listing Agent's Description

Lovely move-in ready home in popular Glade Crossing sits on a .347 acre corner lot with mature trees. New paint inside and out and has oak wood laminate flooring in family room, formal dining and hallway. Master is spacious and large master bath has beautiful 18 inch travertine tile floors. Kitchen has all new appliances including range, microwave and dishwasher. Lots of room in the private, pool-sized backyard with extended 23x10 patio. Large shade trees will help with the summer heat and no house directly behind for added privacy. Also included is a well-made chicken coop if having fresh eggs and raising chickens suits you! Recent updates also include new garage door, freshly stained fence and HVAC in 2017.

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: Glade Crossing

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360kPrice in $123k374k

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

Neighborhood: Glade Crossing

NeighborhoodNIR Market*CityMarket2010Year20002019 Q212001300140015001600170018001900200021002200230024002500Rent in $11262539

* 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
Grapevine Elementary School Primary Regular 531 34 9
Heritage Middle School Middle Regular 922 51 9
Heritage Middle School High Regular 922 51 9

Grapevine Elementary School

  • Education Level: Primary
  • # of students: 531
  • # of teachers: 34
9
GreatSchools Rating

Heritage Middle School

  • Education Level: Middle
  • # of students: 922
  • # of teachers: 51
9
GreatSchools Rating

Heritage Middle School

  • Education Level: High
  • # of students: 922
  • # of teachers: 51
9
GreatSchools Rating
 

$306,000$374,000$340,000

PURCHASE PRICE

$1,944$2,376$2,160

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,160
EXPENSES Loan Payment -$1,254
Property Tax -$646
Property Insurance -$136
Property Management Fees -$99
CASH FLOW
$25

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.

$340,000

PROJECTED PRICE

$2,160

PROJECTED RENT

0.64%

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

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

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$95,850

INVESTMENT

$95,850

Down Payment
$85,000
Rehab Estimate
$5,750
Closing Costs
$5,100

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,254

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $85,000
Loan Amount $255,000
See What Happens When You Reinvest Cash Flow

5.25

YEARS SAVED

$21,798

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,160

    LIST RENT
  • $1.15

    LIST RENT PER SQFT
  • $2,223

    COMP ESTIMATED VALUE
  • $1.19

    COMP AVG. RENT PER SQFT
Comps Range
$1,900
1$1,9002$2,1603$2,2004$2,3005$2,500
$2,500
RENT COMPS ANALYSIS
  • 4415 Asbury Drive Grapevine, TX 2
    • 3 beds 2 baths ∙ 1,876 Sqft ∙ Built 1989 3 beds 2 baths ∙ 1,876 Sqft ∙ Built 1989
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,160
    • $1.15
    •  
  • 3006 Whetstone Lane Euless, TX 1
    • 3 beds 2 baths ∙ 1,689 Sqft ∙ Built 1989 3 beds 2 baths ∙ 1,689 Sqft ∙ Built 1989
    property image
    LEASED 12/08/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $1.12
    •  
  • 2904 Normandy Court Euless, TX 3
    • 4 beds 2 baths ∙ 1,843 Sqft ∙ Built 1992 4 beds 2 baths ∙ 1,843 Sqft ∙ Built 1992
    property image
    LEASED 07/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $1.19
    •  
  • 3024 Peppercorn Drive Euless, TX 4
    • 3 beds 2 baths ∙ 1,879 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,879 Sqft ∙ Built 2002
    property image
    LEASED 03/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.22
    •  
  • 501 Coventry Drive Grapevine, TX 5
    • 4 beds 2 baths ∙ 2,063 Sqft ∙ Built 1994 4 beds 2 baths ∙ 2,063 Sqft ∙ Built 1994
    property image
    LEASED 04/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.21
    •  
PROPERTY LISTING DETAILS
Jack Talley
Keller Williams Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14464949
Last Updated: 11/06/2020
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