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500 Virgo Court Granbury, TX 76049

3 Beds 2 Baths 1,790 sqft Built 1984

$369,000

List Price

$1,620

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

January 15, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1984
  • Price/Sqft : $206.15
  • 3 Days on Market
  • MLS # : 14500991
  • Updated Date : 01/15/2021 at 22:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,790 sqft
  • Baths : 2 full
Listing Agent

Marsha Hardin Real Estate Llc

Listing Agent's Description

LAKE PROPERTY anyone? ..This place is so awesome 3 bedrooms 2 full bath Log Cabin on beautiful half acre Lot. Large Majestic Log Ceilings through out, open concept, Large screened in back porch, RV Hookup, storage sheds one is oversized with loft, work benches and electric This is the perfect Lake getaway. Your own private covered boat slip with lift, 90 feet of dock to fish off of, plus HOA includes clubhouse, swimming pool, tennis courts, additional boat launching, parking and doc.

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: 76049

ZipNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240kPrice in $96k250k

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

Zip Code: 76049

ZipNIR Market*CityMarket2010Year20002019 Q2115012001250130013501400145015001550160016501700Rent in $11261734

* 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
Brawner Intermediate School Primary Regular 413 27 4
Granbury Middle School Middle Regular 711 50 4
Granbury High School High Regular 1,414 115 6

Brawner Intermediate School

  • Education Level: Primary
  • # of students: 413
  • # of teachers: 27
4
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
 

$332,100$405,900$369,000

PURCHASE PRICE

$1,458$1,782$1,620

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,620
EXPENSES Loan Payment -$1,282
Property Tax -$500
Property Insurance -$131
HOA -$19
Property Management Fees -$99
CASH FLOW
-$410

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.

$369,000

PROJECTED PRICE

$1,620

PROJECTED RENT

0.44%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 5.8%
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-$8.0k-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k

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$103,535

INVESTMENT

$103,535

Down Payment
$92,250
Rehab Estimate
$5,750
Closing Costs
$5,535

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$1,282

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $92,250
Loan Amount $276,750
See What Happens When You Reinvest Cash Flow

0.42

YEARS SAVED

$456

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,620

    LIST RENT
  • $0.91

    LIST RENT PER SQFT
  • $1,844

    COMP ESTIMATED VALUE
  • $1.03

    COMP AVG. RENT PER SQFT
Comps Range
$1,620
1$1,6202$1,8003$1,825
$1,825
RENT COMPS ANALYSIS
  • 500 Virgo Court Granbury, TX 1
    • 3 beds 2 baths ∙ 1,790 Sqft ∙ Built 1984 3 beds 2 baths ∙ 1,790 Sqft ∙ Built 1984
    • Rent
    • Rent Per SQFT
    •  
    • $1,620
    • $0.91
    •  
  • 206 Casas Del Sur Street Granbury, TX 2
    • 3 beds 2 baths ∙ 1,824 Sqft ∙ Built 1987 3 beds 2 baths ∙ 1,824 Sqft ∙ Built 1987
    LEASED 09/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.99
    •  
  • 316 Casas Del Sur Street Granbury, TX 3
    • 3 beds 2 baths ∙ 1,707 Sqft ∙ Built 1984 3 beds 2 baths ∙ 1,707 Sqft ∙ Built 1984
    LEASED 01/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,825
    • $1.07
    •  
PROPERTY LISTING DETAILS
Gilda Brawley
Marsha Hardin Real Estate Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14500991
Last Updated: 01/15/2021
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