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2308 Arrowhead Drive Denton, TX 76207

3 Beds 2 Baths 1,413 sqft Built 2008

$224,000

List Price

$1,470

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

December 04, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2008
  • Price/Sqft : $158.53
  • 3 Days on Market
  • MLS # : 14473670
  • Updated Date : 12/04/2020 at 20:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,413 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Realty

Listing Agent's Description

Beautiful, move-in ready 3 bedroom, 2 bath home in Windsor Farms. Walking distance to North Lakes Park. Close to Rayzor Ranch retail. House is very clean and shows well. Open layout with large rooms and new flooring. Master suite features dual sinks, separate tub and shower, and spacious walk-in closet.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • . 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)

PRICE & RENT TRENDS

Neighborhood: Windsor Farms

NeighborhoodNIR Market*CityMarket2010Year20002019110k120k130k140k150k160k170k180k190k200k210k220k230k240k250kPrice in $109k251k

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

Neighborhood: Windsor Farms

NeighborhoodNIR Market*CityMarket2010Year20002019 Q290010001100120013001400150016001700Rent in $8191769

* 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
 

$201,600$246,400$224,000

PURCHASE PRICE

$1,323$1,617$1,470

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,470
EXPENSES Loan Payment -$826
Property Tax -$445
Property Insurance -$109
HOA -$10
Property Management Fees -$99
CASH FLOW
-$20

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.

$224,000

PROJECTED PRICE

$1,470

PROJECTED RENT

0.66%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 8.6%
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$100k$200k$300k$400k$500k$600k$700k$800k

PROJECTED ANNUAL CASH FLOW

11530-$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$100k$200k$300k$400k$500k$600k$700k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$65,110

INVESTMENT

$65,110

Down Payment
$56,000
Rehab Estimate
$5,750
Closing Costs
$3,360

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$826

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $56,000
Loan Amount $168,000
See What Happens When You Reinvest Cash Flow

4.33

YEARS SAVED

$10,959

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,470

    LIST RENT
  • $1.04

    LIST RENT PER SQFT
  • $1,579

    COMP ESTIMATED VALUE
  • $1.12

    COMP AVG. RENT PER SQFT
Comps Range
$1,470
1$1,4702$1,5503$1,5754$1,6505$1,699
$1,699
RENT COMPS ANALYSIS
  • 2308 Arrowhead Drive Denton, TX 1
    • 3 beds 2 baths ∙ 1,413 Sqft ∙ Built 2008 3 beds 2 baths ∙ 1,413 Sqft ∙ Built 2008
    • Rent
    • Rent Per SQFT
    •  
    • $1,470
    • $1.04
    •  
  • 2301 Southway Denton, TX 2
    • 3 beds 2 baths ∙ 1,390 Sqft ∙ Built 2000 3 beds 2 baths ∙ 1,390 Sqft ∙ Built 2000
    LEASED 12/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $1.12
    •  
  • 2224 Westview Trail Denton, TX 3
    • 3 beds 2 baths ∙ 1,356 Sqft ∙ Built 1988 3 beds 2 baths ∙ 1,356 Sqft ∙ Built 1988
    LEASED 12/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,575
    • $1.16
    •  
  • 2205 Southway Denton, TX 4
    • 3 beds 2 baths ∙ 1,477 Sqft ∙ Built 2001 3 beds 2 baths ∙ 1,477 Sqft ∙ Built 2001
    LEASED 10/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.12
    •  
  • 2209 Lookout Lane Denton, TX 5
    • 3 beds 2 baths ∙ 1,585 Sqft ∙ Built 2000 3 beds 2 baths ∙ 1,585 Sqft ∙ Built 2000
    LEASED 05/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,699
    • $1.07
    •  
PROPERTY LISTING DETAILS
Carissa Acker
Keller Williams Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14473670
Last Updated: 12/04/2020
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