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705 Rambling Court Granbury, TX 76049

3 Beds 2 Baths 1,338 sqft Built 2006

$210,000

List Price

$1,350

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 12, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2006
  • Price/Sqft : $156.95
  • 3 Days on Market
  • MLS # : 14531910
  • Updated Date : 03/12/2021 at 18:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,338 sqft
  • Baths : 2 full
Listing Agent

Knieper Realty, Inc.

Listing Agent's Description

Come see this charming 3 bedroom 2 bath home in Meander Estates! Looks like new with new carpet throughout the inside and new paint outside. Walls have rounded corners and entry ways are arched, making this a lovely place to call home. Kitchen features beautiful cabinetry and stainless steel appliances. Large Master with a spacious master bath with two vanity areas. The backyard offers a cozy covered patio and privacy fencing, it is a great space for entertaining guests and looking up at the stars. Meander Estates is a quiet community with parks, tennis and basketball court, and has city sewer and water without the city taxes. Come see this charming gem today!

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: 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
Oak Woods Intermediate School Primary Regular 593 31 7
Acton Middle School Middle Regular 821 48 6
Granbury High School High Regular 1,414 115 6

Oak Woods Intermediate School

  • Education Level: Primary
  • # of students: 593
  • # of teachers: 31
7
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

$1,215$1,485$1,350

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,350
EXPENSES Loan Payment -$729
Property Tax -$285
Property Insurance -$105
HOA -$14
Property Management Fees -$99
CASH FLOW
$119

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

$1,350

PROJECTED RENT

0.64%

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$100k$200k$300k$400k$500k$600k$700k

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

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 45% 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

7.67

YEARS SAVED

$21,005

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,350

    LIST RENT
  • $1.01

    LIST RENT PER SQFT
  • $1,375

    COMP ESTIMATED VALUE
  • $1.03

    COMP AVG. RENT PER SQFT
Comps Range
$1,350
1$1,3502$1,4253$1,5004$1,5495$1,600
$1,600
RENT COMPS ANALYSIS
  • 705 Rambling Court Granbury, TX 1
    • 3 beds 2 baths ∙ 1,338 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,338 Sqft ∙ Built 2006
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $1.01
    •  
  • 812 Rambling Court Granbury, TX 2
    • 3 beds 2 baths ∙ 1,356 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,356 Sqft ∙ Built 2006
    LEASED 07/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,425
    • $1.05
    •  
  • 813 Rambling Court Granbury, TX 3
    • 3 beds 2 baths ∙ 1,541 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,541 Sqft ∙ Built 2006
    LEASED 12/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.97
    •  
  • 825 Rambling Court Granbury, TX 4
    • 4 beds 2 baths ∙ 1,488 Sqft ∙ Built 2007 4 beds 2 baths ∙ 1,488 Sqft ∙ Built 2007
    LEASED 02/26/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,549
    • $1.04
    •  
  • 1005 Winding Road Granbury, TX 5
    • 3 beds 2 baths ∙ 1,529 Sqft ∙ Built 2008 3 beds 2 baths ∙ 1,529 Sqft ∙ Built 2008
    LEASED 01/11/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $1.05
    •  
PROPERTY LISTING DETAILS
Pam Knieper
Knieper Realty, Inc.
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14531910
Last Updated: 03/12/2021
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