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5120 Heatherdale Drive Grapevine, TX 76051

4 Beds 3 Baths 2,304 sqft Built 1992

$389,000

List Price

$2,440

$2.2K - $2.7K

Rent Est.

PROPERTY INFO

January 14, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1992
  • Price/Sqft : $168.84
  • 4 Days on Market
  • MLS # : 14498229
  • Updated Date : 01/14/2021 at 16:46
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,304 sqft
  • Baths : 2 full , 1 half
Listing Agent

Keller Williams Realty

Listing Agent's Description

They say location is the most important. This .42 acre lot is easy access to Hwy 121 for your commute, Grapevine-Colleyville ISD, city pool and close to shopping and dining at Glade Parks. All in a single story home. Updated interior features wood floors in the combo living and dining areas as well as the 4th bedroom which is a great office space. Open floor plan with tons of natural light, recent paint and updated kitchen featuring quartz counters, gas cooktop and stainless appliances, double skylight. Split owners suite with view of backyard, updated bath with travertine and quartz. Covered patio allows for enjoyment of the large backyard space. Most windows upgraded to vinyl for energy efficiency

SEE MORE

MARKET HIGHLIGHTS

  • # 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)
  • . Dallas has 7th largest concentration of high-tech jobs in the U.S. (Dallas Chamber)

PRICE & RENT TRENDS

Neighborhood: Shadow Glen

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360k380kPrice in $123k385k

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

Neighborhood: Shadow Glen

NeighborhoodNIR Market*CityMarket2010Year20002019 Q212001400160018002000220024002600Rent in $11262630

* 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
 

$350,100$427,900$389,000

PURCHASE PRICE

$2,196$2,684$2,440

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,440
EXPENSES Loan Payment -$1,351
Property Tax -$739
Property Insurance -$160
Property Management Fees -$99
CASH FLOW
$90

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.

$389,000

PROJECTED PRICE

$2,440

PROJECTED RENT

0.63%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 4.8%
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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$108,835

INVESTMENT

$108,835

Down Payment
$97,250
Rehab Estimate
$5,750
Closing Costs
$5,835

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,351

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $97,250
Loan Amount $291,750
See What Happens When You Reinvest Cash Flow

5.67

YEARS SAVED

$25,022

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,440

    LIST RENT
  • $1.06

    LIST RENT PER SQFT
  • $2,431

    COMP ESTIMATED VALUE
  • $1.06

    COMP AVG. RENT PER SQFT
Comps Range
$2,250
1$2,2502$2,3503$2,4404$2,5005$2,600
$2,600
RENT COMPS ANALYSIS
  • 5120 Heatherdale Drive Grapevine, TX 3
    • 4 beds 3 baths ∙ 2,304 Sqft ∙ Built 1992 4 beds 3 baths ∙ 2,304 Sqft ∙ Built 1992
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,440
    • $1.06
    •  
  • 4312 Kenwood Drive Grapevine, TX 1
    • 4 beds 2 baths ∙ 2,158 Sqft ∙ Built 1986 4 beds 2 baths ∙ 2,158 Sqft ∙ Built 1986
    property image
    LEASED 09/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $1.04
    •  
  • 1721 Altacrest Drive Grapevine, TX 2
    • 3 beds 2 baths ∙ 2,335 Sqft ∙ Built 1991 3 beds 2 baths ∙ 2,335 Sqft ∙ Built 1991
    property image
    LEASED 09/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $1.01
    •  
  • 1802 Haydenbend Circle Grapevine, TX 4
    • 4 beds 3 baths ∙ 2,226 Sqft ∙ Built 1991 4 beds 3 baths ∙ 2,226 Sqft ∙ Built 1991
    property image
    LEASED 04/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.12
    •  
  • 802 Kodiak Circle Euless, TX 5
    • 4 beds 3 baths ∙ 2,478 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,478 Sqft ∙ Built 2004
    property image
    LEASED 03/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $1.05
    •  
PROPERTY LISTING DETAILS
Paul Tosello
Keller Williams Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14498229
Last Updated: 01/14/2021
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