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703 Branding Iron Trail Granbury, TX 76049

4 Beds 3 Baths 2,316 sqft Built 2002

$210,000

List Price

$1,850

$1.7K - $2K

Rent Est.

PROPERTY INFO

January 29, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2002
  • Price/Sqft : $90.67
  • 3 Days on Market
  • MLS # : 14507359
  • Updated Date : 01/29/2021 at 21:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,316 sqft
  • Baths : 3 full
Listing Agent

Horton Neely Realtors, Llc

Listing Agent's Description

UPDATED AND READY. So much space to call your own. Located in Western Hills Harbor, close to the lake and convenient to 377 for Granbury's prime shopping and dining attractions. The original home has an additional 500 sq feet built on to it. Situated on a double lot, this property is priced to sell. Features an eat-in kitchen, separate dining room, two master suites and two living areas. Outside features a large front porch and separate storage shed which can be used as a work or storage area. Come see it today!

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: 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
Brawner Intermediate School Primary Regular 413 27 4
Acton Middle School Middle Regular 821 48 6
Granbury High School High Regular 1,414 115 6

Brawner Intermediate School

  • Education Level: Primary
  • # of students: 413
  • # of teachers: 27
4
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
 

$189,000$231,000$210,000

PURCHASE PRICE

$1,665$2,035$1,850

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,850
EXPENSES Loan Payment -$729
Property Tax -$285
Property Insurance -$161
HOA -$2
Property Management Fees -$99
CASH FLOW
$574

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.

$210,000

PROJECTED PRICE

$1,850

PROJECTED RENT

0.88%

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$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$61,400

INVESTMENT

$61,400

Down Payment
$52,500
Rehab Estimate
$5,750
Closing Costs
$3,150

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$729

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $52,500
Loan Amount $157,500
See What Happens When You Reinvest Cash Flow

16.08

YEARS SAVED

$56,116

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,850

    LIST RENT
  • $0.8

    LIST RENT PER SQFT
  • $2,328

    COMP ESTIMATED VALUE
  • $1.01

    COMP AVG. RENT PER SQFT
Comps Range
$1,850
1$1,8502$2,2503$2,3004$2,3255$2,350
$2,350
RENT COMPS ANALYSIS
  • 703 Branding Iron Trail Granbury, TX 1
    • 4 beds 3 baths ∙ 2,316 Sqft ∙ Built 2002 4 beds 3 baths ∙ 2,316 Sqft ∙ Built 2002
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.80
    •  
  • 1401 Carnoustie Court Granbury, TX 2
    • 4 beds 2 baths ∙ 2,333 Sqft ∙ Built 2017 4 beds 2 baths ∙ 2,333 Sqft ∙ Built 2017
    LEASED 11/27/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $0.96
    •  
  • 1400 Carnoustie Court Granbury, TX 3
    • 3 beds 2 baths ∙ 2,193 Sqft ∙ Built 2017 3 beds 2 baths ∙ 2,193 Sqft ∙ Built 2017
    LEASED 04/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.05
    •  
  • 1707 Troon Court Granbury, TX 4
    • 4 beds 2 baths ∙ 2,333 Sqft ∙ Built 2017 4 beds 2 baths ∙ 2,333 Sqft ∙ Built 2017
    LEASED 03/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,325
    • $1.00
    •  
  • 2101 Clive Drive Granbury, TX 5
    • 4 beds 2 baths ∙ 2,333 Sqft ∙ Built 2018 4 beds 2 baths ∙ 2,333 Sqft ∙ Built 2018
    LEASED 10/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $1.01
    •  
PROPERTY LISTING DETAILS
Eliza Knapp
Horton Neely Realtors, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14507359
Last Updated: 01/29/2021
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