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1516 Eufemia Drive Denton, TX 76207

4 Beds 3 Baths 2,731 sqft Built 2003

INVESTimate

$255,000

List Price

$2,050

$1,845 - $2,255

Rent Est.

$273,029  ( +7.07%)   1 YR EST. FORECAST

PROPERTY INFO

August 21, 2020 RECENTLY ADDED
FACTS
  • Built In 2003
  • Price/Sqft : $93.37
  • 6 Days on Market
  • MLS # : 14418564
  • Updated Date : 08/22/2020 at 07:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,731 sqft
  • Baths : 2 full , 1 half
Listing Agent

Keller Williams Realty Dpr

Listing Agent's Description

Great location and proximity to all the Denton hotspots! This lovely 4 bedroom, 2.5 bathroom home is well suited for families, investors, students, and more. Very rare combo of 3-car garage with a good size backyard! Master bedroom has a separate living area providing many flex options like a home office, or nearby area for a newborn baby. New luxury vinyl plank in master bathroom! New fence in backyard, new paint in some areas! Stainless steel appliances in kitchen, covered patio in back. Plenty of curb appeal, with 3 living areas. Carpet allowance of $1500 with a full price offer!

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: Northpointe

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240kPrice in $88k247k

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

Neighborhood: Northpointe

NeighborhoodNIR Market*CityMarket2010Year20002019 Q290010001100120013001400150016001700Rent in $8041769

* 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
Evers Park Elementary School Primary Regular 546 44 5
Calhoun Middle School Middle Regular 684 54 4
Denton High School High Regular 2,166 140 6

Evers Park Elementary School

  • Education Level: Primary
  • # of students: 546
  • # of teachers: 44
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
 

$229,500$280,500$255,000

PURCHASE PRICE

$1,845$2,255$2,050

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

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

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,050
EXPENSES Loan Payment -$941
Property Tax -$507
Property Insurance -$185
HOA -$6
Property Management Fees -$99
CASH FLOW
$312

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.

$255,000

PROJECTED PRICE

$2,050

PROJECTED RENT

0.80%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.74%
Appreciation Year (1-5) 7.07%
Maintenance Year (1-5) 8.00%
Vacancy 6.69%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$73,325

INVESTMENT

$73,325

Down Payment
$63,750
Rehab Estimate
$5,750
Closing Costs
$3,825

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% down payment or higher enables the proceeds from the asset to cover all costs.

$941

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $63,750
Loan Amount $191,250
See What Happens When You Reinvest Cash Flow

10.42

YEARS SAVED

$44,790

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,050

    LIST RENT
  • $0.75

    LIST RENT PER SQFT
  • $2,267

    COMP ESTIMATED VALUE
  • $0.83

    COMP AVG. RENT PER SQFT
Comps Range
$2,050
1$2,0502$2,1003$2,200
$2,200
RENT COMPS ANALYSIS
  • 1516 Eufemia Drive Denton, TX 1
    • 4 beds 3 baths ∙ 2,731 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,731 Sqft ∙ Built 2003
    • Rent
    • Rent Per SQFT
    •  
    • $2,050
    • $0.75
    •  
  • 1405 Constantina Drive Denton, TX 2
    • 3 beds 3 baths ∙ 2,568 Sqft ∙ Built 2004 3 beds 3 baths ∙ 2,568 Sqft ∙ Built 2004
    LEASED 06/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.82
    •  
  • 1509 Evan Drive Denton, TX 3
    • 4 beds 3 baths ∙ 2,629 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,629 Sqft ∙ Built 2006
    LEASED 07/10/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.84
    •  
PROPERTY LISTING DETAILS
Rami Mustafa
Keller Williams Realty Dpr
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14418564
Last Updated: 08/22/2020
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