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505 Woodhill Court Grapevine, TX 76051

4 Beds 2 Baths 2,283 sqft Built 1989

$379,900

List Price

$2,400

$2.2K - $2.6K

Rent Est.

PROPERTY INFO

January 28, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1989
  • Price/Sqft : $166.40
  • 4 Days on Market
  • MLS # : 14494306
  • Updated Date : 01/29/2021 at 14:56
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,283 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Realty-fm

Listing Agent's Description

Multiple offers received. Highest and best by 6:00 Saturday Jan 30 WELL treed neighborhood leads you to this home with GREAT curb appeal.Notice the sizeable driveway perfect for activities.Inside, lovely updates throughout this one level, 4 bedrm home include hardwood floors in main living spaces, kitchen, hallway, and primary bedroom.Fresh kitchen updates include light colors, fixtures, appliances, and finishes make it feel brand new! Off the kitchen sits the cozy 2nd living space with built-in shelves hugging the German schmeared fireplace. The ambiance makes decorating easy!Head outside to appreciate MORE TREES, a large backyard, and a patio perfect

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 Woods

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360k380k400k420kPrice in $123k434k

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

Neighborhood: Glade Woods

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21200140016001800200022002400260028003000Rent in $11263032

* 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
Colleyville Heritage High School High Regular 2,222 135 8
Colleyville Heritage High School High Unknown NA

Grapevine Elementary School

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

Colleyville Heritage High School

  • Education Level: High
  • # of students: 2,222
  • # of teachers: 135
8
GreatSchools Rating

Colleyville Heritage High School

  • Education Level: High
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$341,910$417,890$379,900

PURCHASE PRICE

$2,160$2,640$2,400

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,400
EXPENSES Loan Payment -$1,320
Property Tax -$722
Property Insurance -$159
Property Management Fees -$99
CASH FLOW
$100

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.

$379,900

PROJECTED PRICE

$2,400

PROJECTED RENT

0.63%

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$1.2M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$106,424

INVESTMENT

$106,424

Down Payment
$94,975
Rehab Estimate
$5,750
Closing Costs
$5,699

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,320

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $94,975
Loan Amount $284,925
See What Happens When You Reinvest Cash Flow

5.83

YEARS SAVED

$25,520

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,400

    LIST RENT
  • $1.05

    LIST RENT PER SQFT
  • $2,443

    COMP ESTIMATED VALUE
  • $1.07

    COMP AVG. RENT PER SQFT
Comps Range
$2,095
1$2,0952$2,2953$2,3504$2,4005$2,650
$2,650
RENT COMPS ANALYSIS
  • 505 Woodhill Court Grapevine, TX 4
    • 4 beds 2 baths ∙ 2,283 Sqft ∙ Built 1989 4 beds 2 baths ∙ 2,283 Sqft ∙ Built 1989
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.05
    •  
  • 4321 Greenwood Lane Grapevine, TX 1
    • 3 beds 2 baths ∙ 2,113 Sqft ∙ Built 1991 3 beds 2 baths ∙ 2,113 Sqft ∙ Built 1991
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,095
    • $0.99
    •  
  • 209 Crepe Myrtle Drive Euless, TX 2
    • 4 beds 2 baths ∙ 2,126 Sqft ∙ Built 2003 4 beds 2 baths ∙ 2,126 Sqft ∙ Built 2003
    LEASED 05/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,295
    • $1.08
    •  
  • 1721 Altacrest Drive Grapevine, TX 3
    • 3 beds 2 baths ∙ 2,335 Sqft ∙ Built 1991 3 beds 2 baths ∙ 2,335 Sqft ∙ Built 1991
    LEASED 09/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $1.01
    •  
  • 605 Ellington Drive Grapevine, TX 5
    • 3 beds 3 baths ∙ 2,209 Sqft ∙ Built 1985 3 beds 3 baths ∙ 2,209 Sqft ∙ Built 1985
    LEASED 10/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,650
    • $1.20
    •  
PROPERTY LISTING DETAILS
Jill Hughes
Keller Williams Realty-fm
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14494306
Last Updated: 01/29/2021
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