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1121 Bayfield Drive Denton, TX 76209

3 Beds 2 Baths 1,516 sqft Built 1999

$245,000

List Price

$1,580

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

January 30, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1999
  • Price/Sqft : $161.61
  • 2 Days on Market
  • MLS # : 14507309
  • Updated Date : 01/30/2021 at 11:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,516 sqft
  • Baths : 2 full
Listing Agent

Re/max Dfw Associates

Listing Agent's Description

Welcome to your New Home for the New Year. This home has been UPDATED and DESIGNED with today's MODERN & CONTEMPORARY style. You're welcomed into a HANDSOME foyer. Open concept floorplan with TONS of NATURAL LIGHTING. As you're lead into the family space, you'll enjoy 360 PANORAMIC VIEWS of the living room, kitchen, and outside patio. The living room includes a STYLISH fireplace. Open kitchen is perfect for ENTERTAINING while having abundant cabinet space. Main bedroom is set-up as an Owner's retreat. The additional bedrooms are OVERSIZED with large closet space. Located in EXEMPLARY Denton ISD. Close to highway. Close to shopping, retail, and restaurants. This is a RARE OPPORTUNITY.

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: Audra Meadows

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240kPrice in $86k247k

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

Neighborhood: Audra Meadows

NeighborhoodNIR Market*CityMarket2010Year20002019 Q280090010001100120013001400150016001700Rent in $7481769

* 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
Lee Elementary School Primary Regular 619 43 6
Strickland Middle School Middle Regular 899 65 5
Billy Ryan High School High Regular 2,409 170 5

Lee Elementary School

  • Education Level: Primary
  • # of students: 619
  • # of teachers: 43
6
GreatSchools Rating

Strickland Middle School

  • Education Level: Middle
  • # of students: 899
  • # of teachers: 65
5
GreatSchools Rating

Billy Ryan High School

  • Education Level: High
  • # of students: 2,409
  • # of teachers: 170
5
GreatSchools Rating
 

$220,500$269,500$245,000

PURCHASE PRICE

$1,422$1,738$1,580

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,580
EXPENSES Loan Payment -$851
Property Tax -$487
Property Insurance -$115
Property Management Fees -$99
CASH FLOW
$28

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.

$245,000

PROJECTED PRICE

$1,580

PROJECTED RENT

0.64%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 10.1%
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

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$70,675

INVESTMENT

$70,675

Down Payment
$61,250
Rehab Estimate
$5,750
Closing Costs
$3,675

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$851

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $61,250
Loan Amount $183,750
See What Happens When You Reinvest Cash Flow

5.17

YEARS SAVED

$13,161

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,580

    LIST RENT
  • $1.04

    LIST RENT PER SQFT
  • $1,580

    COMP ESTIMATED VALUE
  • $1.04

    COMP AVG. RENT PER SQFT
Comps Range
$1,550
1$1,5502$1,5803$1,6504$1,6505$1,650
$1,650
RENT COMPS ANALYSIS
  • 1121 Bayfield Drive Denton, TX 2
    • 3 beds 2 baths ∙ 1,516 Sqft ∙ Built 1999 3 beds 2 baths ∙ 1,516 Sqft ∙ Built 1999
    • Rent
    • Rent Per SQFT
    •  
    • $1,580
    • $1.04
    •  
  • 917 Bayfield Drive Denton, TX 1
    • 3 beds 2 baths ∙ 1,359 Sqft ∙ Built 1990 3 beds 2 baths ∙ 1,359 Sqft ∙ Built 1990
    LEASED 06/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $1.14
    •  
  • 1218 Bayfield Street Denton, TX 3
    • 3 beds 3 baths ∙ 1,673 Sqft ∙ Built 2014 3 beds 3 baths ∙ 1,673 Sqft ∙ Built 2014
    LEASED 03/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.99
    •  
  • 1409 Bayfield Street Denton, TX 4
    • 3 beds 3 baths ∙ 1,614 Sqft ∙ Built 2016 3 beds 3 baths ∙ 1,614 Sqft ∙ Built 2016
    LEASED 03/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.02
    •  
  • 1317 Bayfield Street Denton, TX 5
    • 3 beds 3 baths ∙ 1,614 Sqft ∙ Built 2014 3 beds 3 baths ∙ 1,614 Sqft ∙ Built 2014
    LEASED 03/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.02
    •  
PROPERTY LISTING DETAILS
Terry Hendricks
Re/max Dfw Associates
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14507309
Last Updated: 01/30/2021
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