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1428 Stratford Lane Denton, TX 76209

4 Beds 3 Baths 2,223 sqft Built 1992

$315,000

List Price

$1,890

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

October 31, 2020 RECENTLY ADDED
FACTS
  • Built In 1992
  • Price/Sqft : $141.70
  • 5 Days on Market
  • MLS # : 14449291
  • Updated Date : 10/30/2020 at 20:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,223 sqft
  • Baths : 2 full , 1 half
Listing Agent

Keller Williams Realty

Listing Agent's Description

Wow! This 4 bedroom 2.5 bath home has new updates through and is move-in ready! Home features formal living and dining, study, gas log fireplace, plantation shutters, butcher block counters in kitchen, and a 3 car garage. Master suite with walk-in closet and updated master bath. Entertain under the covered patio with outdoor kitchen and firepit. A few of the recent updates include new tile floor in kitchen, refinished wood floor in living and formals, fresh paint throughout, new window panes, barn doors, smart lights, stained fence, and much more. Professional pictures coming soon.

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: Hannah Estates

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $115k336k

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

Neighborhood: Hannah Estates

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2900100011001200130014001500160017001800190020002100Rent in $8272171

* 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
Wilson Elementary School Primary Regular 602 44 8
Strickland Middle School Middle Regular 899 65 5
Billy Ryan High School High Regular 2,409 170 5

Wilson Elementary School

  • Education Level: Primary
  • # of students: 602
  • # of teachers: 44
8
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
 

$283,500$346,500$315,000

PURCHASE PRICE

$1,701$2,079$1,890

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,890
EXPENSES Loan Payment -$1,162
Property Tax -$627
Property Insurance -$156
Property Management Fees -$99
CASH FLOW
-$154

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 15% of earned rent to cover both maintenance and periods of vacancy.

$315,000

PROJECTED PRICE

$1,890

PROJECTED RENT

0.60%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 10.1%
Maintenance Year (1-5) 8.00%
Vacancy 6.93%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$89,225

INVESTMENT

$89,225

Down Payment
$78,750
Rehab Estimate
$5,750
Closing Costs
$4,725

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,162

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $78,750
Loan Amount $236,250
See What Happens When You Reinvest Cash Flow

2.33

YEARS SAVED

$6,547

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,890

    LIST RENT
  • $0.85

    LIST RENT PER SQFT
  • $2,079

    COMP ESTIMATED VALUE
  • $0.94

    COMP AVG. RENT PER SQFT
Comps Range
$1,795
1$1,7952$1,7953$1,8904$1,8955$2,000
$2,000
RENT COMPS ANALYSIS
  • 1428 Stratford Lane Denton, TX 3
    • 4 beds 3 baths ∙ 2,223 Sqft ∙ Built 1992 4 beds 3 baths ∙ 2,223 Sqft ∙ Built 1992
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,890
    • $0.85
    •  
  • 516 Chateau Court Denton, TX 1
    • 3 beds 2 baths ∙ 1,903 Sqft ∙ Built 1998 3 beds 2 baths ∙ 1,903 Sqft ∙ Built 1998
    property image
    LEASED 07/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.94
    •  
  • 312 Plum Hollow Denton, TX 2
    • 4 beds 2 baths ∙ 1,909 Sqft ∙ Built 1994 4 beds 2 baths ∙ 1,909 Sqft ∙ Built 1994
    property image
    LEASED 09/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.94
    •  
  • 1328 Stratford Lane Denton, TX 4
    • 3 beds 3 baths ∙ 2,000 Sqft ∙ Built 1990 3 beds 3 baths ∙ 2,000 Sqft ∙ Built 1990
    property image
    LEASED 06/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.95
    •  
  • 302 Magnolia Street Denton, TX 5
    • 4 beds 3 baths ∙ 2,188 Sqft ∙ Built 1978 4 beds 3 baths ∙ 2,188 Sqft ∙ Built 1978
    property image
    LEASED 07/24/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.91
    •  
PROPERTY LISTING DETAILS
Bobby Mcmurtrey
Keller Williams Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14449291
Last Updated: 10/30/2020
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