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1005 Hearth Drive Denton, TX 76201

5 Beds 3 Baths 2,170 sqft Built 2020

$387,689

List Price

$2,090

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
November 19, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2020
  • Price/Sqft : $178.66
  • 4 Days on Market
  • MLS # : 14474483
  • Updated Date : 11/19/2020 at 20:00
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,170 sqft
  • Baths : 3 full
Listing Agent

Gehan Homes Brokerage, Llc

Listing Agent's Description

Brand NEW Single-Story Gehan Home with 5 Bedrooms, 3 Bathrooms, 2 Car Garage and so much more! This home has a covered back patio, spacious pantry, and open concept from kitchen to family room. An elegant entry with 10ft ceilings welcomes you with style. The spacious kitchen features hardwood floors and a large island. The cozy breakfast nook offers a unique view to the family room. Enjoy the relaxing master suite and a luxurious master bath. This plan offers plenty of room to grow!

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: 76201

ZipNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240kPrice in $97k247k

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

Zip Code: 76201

ZipNIR Market*CityMarket2010Year20002019 Q280090010001100120013001400150016001700Rent in $7391769

* 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
N. Rayzor Elementary School Primary Regular 651 48 5
Calhoun Middle School Middle Regular 684 54 4
Denton High School High Regular 2,166 140 6

N. Rayzor Elementary School

  • Education Level: Primary
  • # of students: 651
  • # of teachers: 48
5
GreatSchools Rating

Calhoun Middle School

  • Education Level: Middle
  • # of students: 684
  • # of teachers: 54
4
GreatSchools Rating

Denton High School

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

$348,920$426,458$387,689

PURCHASE PRICE

$1,881$2,299$2,090

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,090
EXPENSES Loan Payment -$1,430
Property Tax -$771
Property Insurance -$153
HOA -$29
Property Management Fees -$99
CASH FLOW
-$392

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 9% of earned rent to cover both maintenance and periods of vacancy.

$387,689

PROJECTED PRICE

$2,090

PROJECTED RENT

0.54%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 11.6%
Maintenance Year (1-5) 3.00%
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$1.2M$1.4M

PROJECTED ANNUAL CASH FLOW

11530-$8.0k-$6.0k-$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$200k$400k$600k$800k$1.0M$1.2M$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$104,738

INVESTMENT

$104,738

Down Payment
$96,922
Rehab Estimate
$2,000
Closing Costs
$5,815

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,430

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $96,922
Loan Amount $290,767
See What Happens When You Reinvest Cash Flow

0.58

YEARS SAVED

$1,042

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,090

    LIST RENT
  • $0.96

    LIST RENT PER SQFT
  • $2,018

    COMP ESTIMATED VALUE
  • $0.93

    COMP AVG. RENT PER SQFT
Comps Range
$1,750
1$1,7502$1,7953$2,0004$2,0905$2,100
$2,100
RENT COMPS ANALYSIS
  • 1005 Hearth Drive Denton, TX 4
    • 5 beds 3 baths ∙ 2,170 Sqft ∙ Built 2020 5 beds 3 baths ∙ 2,170 Sqft ∙ Built 2020
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,090
    • $0.96
    •  
  • 3448 Crisoforo Drive Denton, TX 1
    • 4 beds 2 baths ∙ 1,826 Sqft ∙ Built 2004 4 beds 2 baths ∙ 1,826 Sqft ∙ Built 2004
    property image
    LEASED 08/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.96
    •  
  • 1501 Carrigan Lane Denton, TX 2
    • 4 beds 2 baths ∙ 1,967 Sqft ∙ Built 2004 4 beds 2 baths ∙ 1,967 Sqft ∙ Built 2004
    property image
    LEASED 06/05/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.91
    •  
  • 104 Evers Way Denton, TX 3
    • 4 beds 3 baths ∙ 2,078 Sqft ∙ Built 2019 4 beds 3 baths ∙ 2,078 Sqft ∙ Built 2019
    property image
    LEASED 01/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.96
    •  
  • 2336 Northway Denton, TX 5
    • 4 beds 3 baths ∙ 2,359 Sqft ∙ Built 2002 4 beds 3 baths ∙ 2,359 Sqft ∙ Built 2002
    property image
    LEASED 06/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.89
    •  
PROPERTY LISTING DETAILS
April Maki
Gehan Homes Brokerage, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14474483
Last Updated: 11/19/2020
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