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613 Oldham Lane Granbury, TX 76048

3 Beds 2 Baths 1,856 sqft Built 1990

$223,000

List Price

$1,800

$1.6K - $2K

Rent Est.

PROPERTY INFO

February 10, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1990
  • Price/Sqft : $120.15
  • 5 Days on Market
  • MLS # : 14516385
  • Updated Date : 02/11/2021 at 18:42
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,856 sqft
  • Baths : 2 full
Listing Agent

Exp Realty, Llc

Listing Agent's Description

MULTIPLE OFFER SITUATION, SELLER IS REQUESTING THE HIGHEST AND BEST OFFER BY SATURDAY, FEBRUARY the 13th at 5:00 pm. Large Brick home on a huge lot in a nice established neighborhood with no HOA. This split bedroom floor plan with the master bedroom located off of the living room while the other two bedrooms are located behind a large kitchen and dining area. An added bonus to this property is the large shed in the backyard measuring 16' x 12' with electricity and window air conditioning unit. The large backyard has unlimited possibilities and open access from the driveway. The side garage allows for garage parking and multiple car parking in the driveway.

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

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
 

$200,700$245,300$223,000

PURCHASE PRICE

$1,620$1,980$1,800

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,800
EXPENSES Loan Payment -$775
Property Tax -$302
Property Insurance -$134
Property Management Fees -$99
CASH FLOW
$490

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.

$223,000

PROJECTED PRICE

$1,800

PROJECTED RENT

0.81%

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) 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$5.0k$10k$15k$20k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$64,845

INVESTMENT

$64,845

Down Payment
$55,750
Rehab Estimate
$5,750
Closing Costs
$3,345

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 20% down payment or higher enables the proceeds from the asset to cover all costs.

$775

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $55,750
Loan Amount $167,250
See What Happens When You Reinvest Cash Flow

14.58

YEARS SAVED

$53,553

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,800

    LIST RENT
  • $0.97

    LIST RENT PER SQFT
  • $1,875

    COMP ESTIMATED VALUE
  • $1.01

    COMP AVG. RENT PER SQFT
Comps Range
$1,650
1$1,6502$1,7003$1,8004$1,8505$2,000
$2,000
RENT COMPS ANALYSIS
  • 613 Oldham Lane Granbury, TX 3
    • 3 beds 2 baths ∙ 1,856 Sqft ∙ Built 1990 3 beds 2 baths ∙ 1,856 Sqft ∙ Built 1990
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.97
    •  
  • 1310 W Chippewa Trail Granbury, TX 1
    • 3 beds 2 baths ∙ 1,606 Sqft ∙ Built 2007 3 beds 2 baths ∙ 1,606 Sqft ∙ Built 2007
    LEASED 04/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.03
    •  
  • 3909 View Point Drive Granbury, TX 2
    • 3 beds 2 baths ∙ 1,794 Sqft ∙ Built 1989 3 beds 2 baths ∙ 1,794 Sqft ∙ Built 1989
    LEASED 07/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.95
    •  
  • 4001 Iron Horse Trail Granbury, TX 4
    • 4 beds 2 baths ∙ 1,738 Sqft ∙ Built 2008 4 beds 2 baths ∙ 1,738 Sqft ∙ Built 2008
    LEASED 12/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $1.06
    •  
  • 1108 Canvasback Drive Granbury, TX 5
    • 3 beds 3 baths ∙ 2,010 Sqft ∙ Built 1989 3 beds 3 baths ∙ 2,010 Sqft ∙ Built 1989
    LEASED 11/12/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $1.00
    •  
PROPERTY LISTING DETAILS
Annette Caldwell
Exp Realty, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14516385
Last Updated: 02/11/2021
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