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5301 Meyer Court Granbury, TX 76049

3 Beds 2 Baths 1,338 sqft Built 1988

$485,000

List Price

$1,240

$1.1K - $1.4K

Rent Est.

PROPERTY INFO

November 22, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1988
  • Price/Sqft : $362.48
  • 1 Days on Market
  • MLS # : 14475309
  • Updated Date : 11/21/2020 at 22:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,338 sqft
  • Baths : 2 full
Listing Agent

Listing Spark

Listing Agent's Description

1324 sf, 3 bd, 2 bath house on corner lot with lake views. 8.25 working farm with 2400 sf insulated metal shop with concrete floors, tack room and storage loft. 2 livestock barns 8.25 acres ag exempt. Livestock cross fencing, irrigation. Pecan orchard, fruit tree orchards, chicken coop, greenhouse and large garden area. The property is currently a grass-based sheep operation. Ideal for horse property or other livestock. Selling both properties as one.

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MARKET HIGHLIGHTS

  • 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)
  • # 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)

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
Baccus Elementary School Primary Regular 539 31 4
Granbury Middle School Middle Regular 711 50 4
Granbury High School High Regular 1,414 115 6

Baccus Elementary School

  • Education Level: Primary
  • # of students: 539
  • # of teachers: 31
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
 

$436,500$533,500$485,000

PURCHASE PRICE

$1,116$1,364$1,240

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,240
EXPENSES Loan Payment -$1,789
Property Tax -$657
Property Insurance -$105
Property Management Fees -$99
CASH FLOW
-$1,410

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.

$485,000

PROJECTED PRICE

$1,240

PROJECTED RENT

0.26%

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$1.2M$1.4M

PROJECTED ANNUAL CASH FLOW

11530-$20k-$15k-$10k-$5.0k$0.0

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$134,275

INVESTMENT

$134,275

Down Payment
$121,250
Rehab Estimate
$5,750
Closing Costs
$7,275

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 100% down payment or higher enables the proceeds from the asset to cover all costs.

$1,789

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $121,250
Loan Amount $363,750
See What Happens When You Reinvest Cash Flow

-0.33

YEARS SAVED

$2,050

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,240

    LIST RENT
  • $0.93

    LIST RENT PER SQFT
  • $1,064

    COMP ESTIMATED VALUE
  • $0.8

    COMP AVG. RENT PER SQFT
Comps Range
$1,150
1$1,1502$1,1503$1,240
$1,240
RENT COMPS ANALYSIS
  • 5301 Meyer Court Granbury, TX 3
    • 3 beds 2 baths ∙ 1,338 Sqft ∙ Built 1988 3 beds 2 baths ∙ 1,338 Sqft ∙ Built 1988
    • Rent
    • Rent Per SQFT
    •  
    • $1,240
    • $0.93
    •  
  • 2215 Long Creek Court Granbury, TX 1
    • 3 beds 2 baths ∙ 1,412 Sqft ∙ Built 1985 3 beds 2 baths ∙ 1,412 Sqft ∙ Built 1985
    LEASED 10/17/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,150
    • $0.81
    •  
  • 5402 Water View Drive Granbury, TX 2
    • 3 beds 2 baths ∙ 1,478 Sqft ∙ Built 2000 3 beds 2 baths ∙ 1,478 Sqft ∙ Built 2000
    LEASED 07/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,150
    • $0.78
    •  
PROPERTY LISTING DETAILS
Aaron Jistel
Listing Spark
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14475309
Last Updated: 11/21/2020
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