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5403 Frank Lane Granbury, TX 76049

3 Beds 2 Baths 1,706 sqft Built 1997

$238,000

List Price

$1,690

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

November 18, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1997
  • Price/Sqft : $139.51
  • 5 Days on Market
  • MLS # : 14473450
  • Updated Date : 11/21/2020 at 09:30
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,706 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Realty

Listing Agent's Description

Immaculate move in ready home! Open floor plan boasts vaulted ceilings, stainless steel appliances, granite and much more! New paint throughout the entire home along with new flooring in the living room and kitchen. Covered back porch runs the length of the house which allows you to enjoy the large backyard. Shop with electric and extended driveway for extra parking. Absolutely beautiful home; come check it out! MULTIPLE OFFER situation; offers to be submitted by 5:00 PM Sunday November 22.

SEE MORE

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
Acton Elementary School Primary Regular 727 40 6
Acton Middle School Middle Regular 821 48 6
Granbury High School High Regular 1,414 115 6

Acton Elementary School

  • Education Level: Primary
  • # of students: 727
  • # of teachers: 40
6
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
 

$214,200$261,800$238,000

PURCHASE PRICE

$1,521$1,859$1,690

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,690
EXPENSES Loan Payment -$878
Property Tax -$322
Property Insurance -$126
Property Management Fees -$99
CASH FLOW
$265

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.

$238,000

PROJECTED PRICE

$1,690

PROJECTED RENT

0.71%

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

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k

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$68,820

INVESTMENT

$68,820

Down Payment
$59,500
Rehab Estimate
$5,750
Closing Costs
$3,570

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% down payment or higher enables the proceeds from the asset to cover all costs.

$878

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $59,500
Loan Amount $178,500
See What Happens When You Reinvest Cash Flow

10.58

YEARS SAVED

$43,224

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,690

    LIST RENT
  • $0.99

    LIST RENT PER SQFT
  • $1,719

    COMP ESTIMATED VALUE
  • $1.01

    COMP AVG. RENT PER SQFT
Comps Range
$1,500
1$1,5002$1,6903$1,8004$1,8505$2,000
$2,000
RENT COMPS ANALYSIS
  • 5403 Frank Lane Granbury, TX 2
    • 3 beds 2 baths ∙ 1,706 Sqft ∙ Built 1997 3 beds 2 baths ∙ 1,706 Sqft ∙ Built 1997
    • Rent
    • Rent Per SQFT
    •  
    • $1,690
    • $0.99
    •  
  • 4806 The Trees Court Granbury, TX 1
    • 3 beds 2 baths ∙ 1,526 Sqft ∙ Built 1982 3 beds 2 baths ∙ 1,526 Sqft ∙ Built 1982
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.98
    •  
  • 3106 Main Granbury, TX 3
    • 4 beds 2 baths ∙ 1,770 Sqft ∙ Built 2017 4 beds 2 baths ∙ 1,770 Sqft ∙ Built 2017
    LEASED 07/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $1.02
    •  
  • 3201 Main Street Granbury, TX 4
    • 4 beds 2 baths ∙ 1,786 Sqft ∙ Built 2017 4 beds 2 baths ∙ 1,786 Sqft ∙ Built 2017
    LEASED 05/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $1.04
    •  
  • 3102 Main Street Granbury, TX 5
    • 4 beds 2 baths ∙ 2,017 Sqft ∙ Built 2017 4 beds 2 baths ∙ 2,017 Sqft ∙ Built 2017
    LEASED 04/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.99
    •  
PROPERTY LISTING DETAILS
Bodie Stark
Keller Williams Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14473450
Last Updated: 11/21/2020
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