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606 Ellington Drive Grapevine, TX 76051

4 Beds 2 Baths 2,351 sqft Built 1986

$399,900

List Price

$2,400

$2.2K - $2.6K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 1986
  • Price/Sqft : $170.10
  • 109 Days on Market
  • MLS # : 14443661
  • Updated Date : 01/16/2021 at 13:36
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,351 sqft
  • Baths : 2 full
Listing Agent

Scott Real Estate

Listing Agent's Description

Very nice one story on a cul de sac, with high ceilings, beautiful finish out, Swimming pool, sitting areas, 4 bedrooms, and so much more. Must see the quartz countertops in the kitchen and the way the kitchen opens to the family room. Sunroom overlooks the swimming pool and the backyard. Master has view of pool and additional seating areas. Seller has prepped this home beautifully for new owners. See long list of improvements on attachments in MLS, along with survey, T47, and sellers disclosure. Located on cul de sac. Close to parks, Dfw airport, shopping, Starbucks, restaurants, and more.

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 Crossing

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360kPrice in $123k374k

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

Neighborhood: Glade Crossing

NeighborhoodNIR Market*CityMarket2010Year20002019 Q212001300140015001600170018001900200021002200230024002500Rent in $11262539

* 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
 

$359,910$439,890$399,900

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 -$1,389
Property Tax -$760
Property Insurance -$163
Property Management Fees -$99
CASH FLOW
-$11

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.

$399,900

PROJECTED PRICE

$2,400

PROJECTED RENT

0.60%

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-$5.0k$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$111,724

INVESTMENT

$111,724

Down Payment
$99,975
Rehab Estimate
$5,750
Closing Costs
$5,999

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,389

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $99,975
Loan Amount $299,925
See What Happens When You Reinvest Cash Flow

4.42

YEARS SAVED

$17,543

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
  • $1.02

    LIST RENT PER SQFT
  • $2,392

    COMP ESTIMATED VALUE
  • $1.02

    COMP AVG. RENT PER SQFT
Comps Range
$2,250
1$2,2502$2,3453$2,3504$2,3955$2,400
$2,400
RENT COMPS ANALYSIS
  • 606 Ellington Drive Grapevine, TX 5
    • 4 beds 2 baths ∙ 2,351 Sqft ∙ Built 1986 4 beds 2 baths ∙ 2,351 Sqft ∙ Built 1986
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.02
    •  
  • 4312 Kenwood Drive Grapevine, TX 1
    • 4 beds 2 baths ∙ 2,158 Sqft ∙ Built 1986 4 beds 2 baths ∙ 2,158 Sqft ∙ Built 1986
    LEASED 09/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $1.04
    •  
  • 501 Woodhill Court Grapevine, TX 2
    • 4 beds 3 baths ∙ 2,323 Sqft ∙ Built 1989 4 beds 3 baths ∙ 2,323 Sqft ∙ Built 1989
    LEASED 10/04/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,345
    • $1.01
    •  
  • 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
    •  
  • 4339 Bradford Drive Grapevine, TX 4
    • 4 beds 3 baths ∙ 2,366 Sqft ∙ Built 1989 4 beds 3 baths ∙ 2,366 Sqft ∙ Built 1989
    LEASED 12/05/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,395
    • $1.01
    •  
PROPERTY LISTING DETAILS
Scott Killian
Scott Real Estate
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14443661
Last Updated: 01/16/2021
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