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11501 Parkcrest Drive Denton, TX 76207

3 Beds 3 Baths 2,732 sqft Built 2014

INVESTimate

$449,900

List Price

$2,480

$2,232 - $2,728

Rent Est.

$488,411  ( +8.56%)   1 YR EST. FORECAST

PROPERTY INFO

August 19, 2020 RECENTLY ADDED
FACTS
  • Built In 2014
  • Price/Sqft : $164.68
  • 8 Days on Market
  • MLS # : 14416700
  • Updated Date : 08/25/2020 at 12:07
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,732 sqft
  • Baths : 2 full , 1 half
Listing Agent

Keller Williams Realty

Listing Agent's Description

MOTIVATED SELLERS!! Beautiful 2BR 2.5BA Cabrillo Home in the highly sought out neighborhood of Robson Ranch. Upon entry, you walk into a beautiful foyer and through to the open layout of the kitchen and living room which is perfect for entertaining. The kitchen features granite counters, breakfast bar, stainless steel appliances and loads of cabinet space. The HUGE craft room with tons of storage can serve as the 3rd bedroom. There are TWO master suites which is perfect for guests, and a separate media room. Beautiful gas starter fireplace that is easy to start and clean. Over sized patio overlooking a beautiful landscaped yard. This home sits on one of the BIGGER lots in the neighborhood. 3 car garage!

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: 76207

ZipNIR Market*CityMarket2010Year20002019120k130k140k150k160k170k180k190k200k210k220k230k240k250k260kPrice in $115k261k

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

Zip Code: 76207

ZipNIR Market*CityMarket2010Year20002019 Q29001000110012001300140015001600170018001900Rent in $8701907

* 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
Borman Elementary School Primary Regular 458 41 5
Carroll Mcmath Middle School Middle Regular 741 55 6
Denton High School High Regular 2,166 140 6

Borman Elementary School

  • Education Level: Primary
  • # of students: 458
  • # of teachers: 41
5
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
 

$404,910$494,890$449,900

PURCHASE PRICE

$2,232$2,728$2,480

RENT

DOWN PAYMENT
FINANCING

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-$14k-$12k-$10k-$8.0k-$6.0k-$4.0k-$2.0k$0.0$2.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,480
EXPENSES Loan Payment -$1,660
Property Tax -$895
Property Insurance -$185
HOA -$264
Property Management Fees -$99
CASH FLOW
-$623

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.

$449,900

PROJECTED PRICE

$2,480

PROJECTED RENT

0.55%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 8.56%
Maintenance Year (1-5) 8.00%
Vacancy 6.39%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$124,974

INVESTMENT

$124,974

Down Payment
$112,475
Rehab Estimate
$5,750
Closing Costs
$6,749

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 80% down payment or higher enables the proceeds from the asset to cover all costs.

$1,660

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $112,475
Loan Amount $337,425
See What Happens When You Reinvest Cash Flow

0.08

YEARS SAVED

$28

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,480

    LIST RENT
  • $0.91

    LIST RENT PER SQFT
  • $2,568

    COMP ESTIMATED VALUE
  • $0.94

    COMP AVG. RENT PER SQFT
Comps Range
$2,480
1$2,4802$2,5003$2,5004$2,775
$2,775
RENT COMPS ANALYSIS
  • 11501 Parkcrest Drive Denton, TX 1
    • 3 beds 3 baths ∙ 2,732 Sqft ∙ Built 2014 3 beds 3 baths ∙ 2,732 Sqft ∙ Built 2014
    • Rent
    • Rent Per SQFT
    •  
    • $2,480
    • $0.91
    •  
  • 9701 Orangewood Trail Denton, TX 2
    • 3 beds 2 baths ∙ 2,408 Sqft ∙ Built 2014 3 beds 2 baths ∙ 2,408 Sqft ∙ Built 2014
    LEASED 07/19/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.04
    •  
  • 11404 Ridgedale Court Denton, TX 3
    • 4 beds 3 baths ∙ 2,965 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,965 Sqft ∙ Built 2006
    LEASED 12/30/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.84
    •  
  • 1204 8th Street Argyle, TX 4
    • 4 beds 3 baths ∙ 2,944 Sqft ∙ Built 2017 4 beds 3 baths ∙ 2,944 Sqft ∙ Built 2017
    LEASED 10/28/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,775
    • $0.94
    •  
PROPERTY LISTING DETAILS
Cami Hobbs
Keller Williams Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14416700
Last Updated: 08/25/2020
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