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5530 Contrary Creek Road Granbury, TX 76048

3 Beds 3 Baths 2,100 sqft Built 2020

$459,500

List Price

$2,240

$2K - $2.5K

Rent Est.

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
November 20, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2020
  • Price/Sqft : $218.81
  • 3 Days on Market
  • MLS # : 14475190
  • Updated Date : 11/20/2020 at 14:46
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,100 sqft
  • Baths : 2 full , 1 half
Listing Agent

Elevate Realty Group

Listing Agent's Description

Brand new custom home on over an acre. Come enjoy the peace and quiet of the country, while still being close to town. This new home includes custom tiled flooring, vaulted ceilings, custom trim and cabinetry, open concept, modern finishes and design. Buyer still has time to choose paint colors and granite. This new home also comes with a BRAND NEW CUSTOM POOL in the backyard, sprinkler system, 3-car garage, and pool perimeter fencing. You'll love the spacious bedrooms with custom en suites and all that this home has to offer. Highly efficient features include: TRANE HVAC, double-paned windows, blown insulation, efficient WH and LED lighting. Come see this gem while it lasts!

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: 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
Mambrino Elementary School Primary Regular 563 34 5
Granbury Middle School Middle Regular 711 50 4
Granbury High School High Regular 1,414 115 6

Mambrino Elementary School

  • Education Level: Primary
  • # of students: 563
  • # of teachers: 34
5
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
 

$413,550$505,450$459,500

PURCHASE PRICE

$2,016$2,464$2,240

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,240
EXPENSES Loan Payment -$1,695
Property Tax -$623
Property Insurance -$149
Property Management Fees -$99
CASH FLOW
-$325

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 9% of earned rent to cover both maintenance and periods of vacancy.

$459,500

PROJECTED PRICE

$2,240

PROJECTED RENT

0.49%

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) 3.00%
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

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k

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$123,768

INVESTMENT

$123,768

Down Payment
$114,875
Rehab Estimate
$2,000
Closing Costs
$6,893

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,695

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $114,875
Loan Amount $344,625
See What Happens When You Reinvest Cash Flow

1.75

YEARS SAVED

$6,461

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,240

    LIST RENT
  • $1.07

    LIST RENT PER SQFT
  • $2,268

    COMP ESTIMATED VALUE
  • $1.08

    COMP AVG. RENT PER SQFT
Comps Range
$2,150
1$2,1502$2,2403$2,5504$2,6505$2,695
$2,695
RENT COMPS ANALYSIS
  • 5530 Contrary Creek Road Granbury, TX 2
    • 3 beds 3 baths ∙ 2,100 Sqft ∙ Built 2020 3 beds 3 baths ∙ 2,100 Sqft ∙ Built 2020
    • Rent
    • Rent Per SQFT
    •  
    • $2,240
    • $1.07
    •  
  • 4009 Ponca Drive Granbury, TX 1
    • 3 beds 1 baths ∙ 2,191 Sqft ∙ Built 2020 3 beds 1 baths ∙ 2,191 Sqft ∙ Built 2020
    LEASED 06/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $0.98
    •  
  • 4007 Pueblo Granbury, TX 3
    • 4 beds 2 baths ∙ 2,370 Sqft ∙ Built 2019 4 beds 2 baths ∙ 2,370 Sqft ∙ Built 2019
    LEASED 07/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,550
    • $1.08
    •  
  • 4003 Pueblo Granbury, TX 4
    • 4 beds 2 baths ∙ 2,370 Sqft ∙ Built 2019 4 beds 2 baths ∙ 2,370 Sqft ∙ Built 2019
    LEASED 08/16/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,650
    • $1.12
    •  
  • 4007 Pueblo Court Granbury, TX 5
    • 4 beds 2 baths ∙ 2,370 Sqft ∙ Built 2019 4 beds 2 baths ∙ 2,370 Sqft ∙ Built 2019
    LEASED 11/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,695
    • $1.14
    •  
PROPERTY LISTING DETAILS
Randall Luna
Elevate Realty Group
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14475190
Last Updated: 11/20/2020
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