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1005 Greenbend Drive Denton, TX 76210

3 Beds 2 Baths 1,380 sqft Built 1999

INVESTimate

$240,000

List Price

$1,460

$1,314 - $1,606

Rent Est.

$266,328  ( +10.97%)   1 YR EST. FORECAST

PROPERTY INFO

August 20, 2020 RECENTLY ADDED
FACTS
  • Built In 1999
  • Price/Sqft : $173.91
  • 7 Days on Market
  • MLS # : 14407095
  • Updated Date : 08/20/2020 at 22:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,380 sqft
  • Baths : 2 full
Listing Agent

Bluemark, Llc

Listing Agent's Description

WELCOME HOME! THIS CHARMING SINGLE STORY 3 beds 2 bath Perfect and private Back yard for Family cook out You will enjoy your mornings, afternoons & entertaining your guest on this Beautiful Covered Patio, You will Fall in Love ,All information herein deemed reliable but not guaranteed. Buyer and buyers agent to verify all data, including measurements and schools.

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: Bent Creek Estates

NeighborhoodNIR Market*CityMarket2010Year20002019120k130k140k150k160k170k180k190k200k210k220k230k240kPrice in $114k247k

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

Neighborhood: Bent Creek Estates

NeighborhoodNIR Market*CityMarket2010Year20002019 Q290010001100120013001400150016001700Rent in $8411769

* 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
W.s. Ryan Elementary School Primary Regular 588 44 6
Carroll Mcmath Middle School Middle Regular 741 55 6
Denton High School High Regular 2,166 140 6

W.s. Ryan Elementary School

  • Education Level: Primary
  • # of students: 588
  • # of teachers: 44
6
GreatSchools Rating

Carroll Mcmath Middle School

  • Education Level: Middle
  • # of students: 741
  • # of teachers: 55
6
GreatSchools Rating

Denton High School

  • Education Level: High
  • # of students: 2,166
  • # of teachers: 140
6
GreatSchools Rating
 

$216,000$264,000$240,000

PURCHASE PRICE

$1,314$1,606$1,460

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k$900k

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k$900k

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,460
EXPENSES Loan Payment -$886
Property Tax -$477
Property Insurance -$107
Property Management Fees -$99
CASH FLOW
-$109

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.

$240,000

PROJECTED PRICE

$1,460

PROJECTED RENT

0.61%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 10.97%
Maintenance Year (1-5) 8.00%
Vacancy 6.39%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$69,350

INVESTMENT

$69,350

Down Payment
$60,000
Rehab Estimate
$5,750
Closing Costs
$3,600

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$886

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $60,000
Loan Amount $180,000
See What Happens When You Reinvest Cash Flow

2.5

YEARS SAVED

$5,813

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,460

    LIST RENT
  • $1.06

    LIST RENT PER SQFT
  • $1,463

    COMP ESTIMATED VALUE
  • $1.06

    COMP AVG. RENT PER SQFT
Comps Range
$1,450
1$1,4502$1,4603$1,5704$1,5955$1,599
$1,599
RENT COMPS ANALYSIS
  • 1005 Greenbend Drive Denton, TX 2
    • 3 beds 2 baths ∙ 1,380 Sqft ∙ Built 1999 3 beds 2 baths ∙ 1,380 Sqft ∙ Built 1999
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,460
    • $1.06
    •  
  • 3109 Kappwood Court Denton, TX 1
    • 3 beds 2 baths ∙ 1,362 Sqft ∙ Built 2000 3 beds 2 baths ∙ 1,362 Sqft ∙ Built 2000
    property image
    LEASED 02/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $1.06
    •  
  • 1024 Beechwood Drive Denton, TX 3
    • 3 beds 2 baths ∙ 1,515 Sqft ∙ Built 1999 3 beds 2 baths ∙ 1,515 Sqft ∙ Built 1999
    property image
    LEASED 02/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,570
    • $1.04
    •  
  • 1125 Wintercreek Drive Denton, TX 4
    • 3 beds 2 baths ∙ 1,515 Sqft ∙ Built 1999 3 beds 2 baths ∙ 1,515 Sqft ∙ Built 1999
    property image
    LEASED 03/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $1.05
    •  
  • 3141 Briary Trace Court Denton, TX 5
    • 4 beds 2 baths ∙ 1,467 Sqft ∙ Built 2000 4 beds 2 baths ∙ 1,467 Sqft ∙ Built 2000
    property image
    LEASED 11/11/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,599
    • $1.09
    •  
PROPERTY LISTING DETAILS
Flor Ibarra
Bluemark, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14407095
Last Updated: 08/20/2020
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