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505 Tahiti Drive Granbury, TX 76048

3 Beds 2 Baths 1,451 sqft Built 1981

$255,500

List Price

$1,450

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

November 10, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1981
  • Price/Sqft : $176.09
  • 6 Days on Market
  • MLS # : 14465817
  • Updated Date : 11/10/2020 at 20:43
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,451 sqft
  • Baths : 2 full
Listing Agent

Re/max Trinity

Listing Agent's Description

This beautifully landscaped 3 bedroom 2 bath in the quiet neighborhood of THE SHORES. All new appliances, and new laminate wood floors all through the house. Wood burning fireplace with open concept kitchen and living area. Large backyard with covered patio for cookouts, and entertaining. Nice room off the living room can be used as an office.

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
Brawner Intermediate School Primary Regular 413 27 4
Acton Middle School Middle Regular 821 48 6
Granbury High School High Regular 1,414 115 6

Brawner Intermediate School

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

Acton Middle School

  • Education Level: Middle
  • # of students: 821
  • # of teachers: 48
6
GreatSchools Rating

Granbury High School

  • Education Level: High
  • # of students: 1,414
  • # of teachers: 115
6
GreatSchools Rating
 

$229,950$281,050$255,500

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 -$943
Property Tax -$346
Property Insurance -$111
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.

$255,500

PROJECTED PRICE

$1,450

PROJECTED RENT

0.57%

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$800k

PROJECTED ANNUAL CASH FLOW

11530-$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$100k$200k$300k$400k$500k$600k$700k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$73,458

INVESTMENT

$73,458

Down Payment
$63,875
Rehab Estimate
$5,750
Closing Costs
$3,833

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$943

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $63,875
Loan Amount $191,625
See What Happens When You Reinvest Cash Flow

4.33

YEARS SAVED

$12,375

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

    LIST RENT PER SQFT
  • $1,563

    COMP ESTIMATED VALUE
  • $1.08

    COMP AVG. RENT PER SQFT
Comps Range
$1,150
1$1,1502$1,3503$1,4504$1,7005$1,850
$1,850
RENT COMPS ANALYSIS
  • 505 Tahiti Drive Granbury, TX 3
    • 3 beds 2 baths ∙ 1,451 Sqft ∙ Built 1981 3 beds 2 baths ∙ 1,451 Sqft ∙ Built 1981
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $1.00
    •  
  • 905 W Bridge Street Granbury, TX 1
    • 3 beds 2 baths ∙ 1,143 Sqft ∙ Built 1977 3 beds 2 baths ∙ 1,143 Sqft ∙ Built 1977
    LEASED 04/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,150
    • $1.01
    •  
  • 307 Ables Street Granbury, TX 2
    • 3 beds 2 baths ∙ 1,251 Sqft ∙ Built 1976 3 beds 2 baths ∙ 1,251 Sqft ∙ Built 1976
    LEASED 04/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $1.08
    •  
  • 1111 3rd Street Granbury, TX 4
    • 3 beds 2 baths ∙ 1,542 Sqft ∙ Built 1981 3 beds 2 baths ∙ 1,542 Sqft ∙ Built 1981
    LEASED 03/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $1.10
    •  
  • 605 S Harbor Court Granbury, TX 5
    • 3 beds 2 baths ∙ 1,651 Sqft ∙ Built 1977 3 beds 2 baths ∙ 1,651 Sqft ∙ Built 1977
    LEASED 08/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $1.12
    •  
PROPERTY LISTING DETAILS
Mechelle Tyler
Re/max Trinity
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14465817
Last Updated: 11/10/2020
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