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6206 Kelly Drive Granbury, TX 76048

4 Beds 3 Baths 2,570 sqft Built 1994

$289,000

List Price

$2,080

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

November 20, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1994
  • Price/Sqft : $112.45
  • 3 Days on Market
  • MLS # : 14474339
  • Updated Date : 11/20/2020 at 21:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,570 sqft
  • Baths : 3 full
Listing Agent

Mike Mazyck Realty

Listing Agent's Description

Wonderful four bedroom home plus a guest house on a beautifully treed lot within walking distance to the lake. Spacious living area with a stone fireplace along with an updated island kitchen. Two master suites, one master down featuring master bath with dual vanity, garden tub, separate shower, & a walk in closet. Large second master suite upstairs along with two bedrooms. The guest house which is not included in sq ft, features a living area, kitchen, bedroom, full bath, washer & dryer connections, central heat & air. Large storage building behind the guest house. Covered back patio & a detached two car garage with a breeze way. Updates are currently in process, if you hurry you can make the updates your own!

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
 

$260,100$317,900$289,000

PURCHASE PRICE

$1,872$2,288$2,080

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,080
EXPENSES Loan Payment -$1,066
Property Tax -$392
Property Insurance -$176
Property Management Fees -$99
CASH FLOW
$348

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.

$289,000

PROJECTED PRICE

$2,080

PROJECTED RENT

0.72%

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$1.0M

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$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$82,335

INVESTMENT

$82,335

Down Payment
$72,250
Rehab Estimate
$5,750
Closing Costs
$4,335

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,066

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $72,250
Loan Amount $216,750
See What Happens When You Reinvest Cash Flow

11.17

YEARS SAVED

$55,540

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,080

    LIST RENT
  • $0.81

    LIST RENT PER SQFT
  • $2,287

    COMP ESTIMATED VALUE
  • $0.89

    COMP AVG. RENT PER SQFT
Comps Range
$2,080
1$2,0802$2,100
$2,100
RENT COMPS ANALYSIS
  • 6206 Kelly Drive Granbury, TX 1
    • 4 beds 4 baths ∙ 2,570 Sqft ∙ Built 1994 4 beds 4 baths ∙ 2,570 Sqft ∙ Built 1994
    • Rent
    • Rent Per SQFT
    •  
    • $2,080
    • $0.81
    •  
  • 3706 Lake Vista Court Granbury, TX 2
    • 3 beds 2 baths ∙ 2,363 Sqft ∙ Built 1988 3 beds 2 baths ∙ 2,363 Sqft ∙ Built 1988
    LEASED 06/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.89
    •  
PROPERTY LISTING DETAILS
Mike Mazyck
Mike Mazyck Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14474339
Last Updated: 11/20/2020
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