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2408 Miranda Place Denton, TX 76210

4 Beds 2 Baths 2,048 sqft Built 2009

$325,000

List Price

$2,020

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

November 12, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2009
  • Price/Sqft : $158.69
  • 4 Days on Market
  • MLS # : 14469982
  • Updated Date : 11/12/2020 at 20:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,048 sqft
  • Baths : 2 full
Listing Agent

New Age Real Estate

Listing Agent's Description

Beautifully remodeled home in sought after Forest Meadow subdivision. Amazing open kitchen with island, stainless steel appliances, granite counters, mosaic back splash. Freshly painted, new carpet. Excellent floor plan with a large open concept. Owner finaceing available with 20% down at a 10% rate amortized over 30 years

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: Forest Meadow

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $115k338k

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

Neighborhood: Forest Meadow

NeighborhoodNIR Market*CityMarket2010Year20002019 Q290010001100120013001400150016001700180019002000210022002300Rent in $8702327

* 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
W.s. Ryan Elementary School Primary Regular 588 44 6
Crownover Middle School Middle Regular 938 59 8
John H. Guyer High School High Regular 2,395 162 8

W.s. Ryan Elementary School

  • Education Level: Primary
  • # of students: 588
  • # of teachers: 44
6
GreatSchools Rating

Crownover Middle School

  • Education Level: Middle
  • # of students: 938
  • # of teachers: 59
8
GreatSchools Rating

John H. Guyer High School

  • Education Level: High
  • # of students: 2,395
  • # of teachers: 162
8
GreatSchools Rating
 

$292,500$357,500$325,000

PURCHASE PRICE

$1,818$2,222$2,020

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,020
EXPENSES Loan Payment -$1,199
Property Tax -$646
Property Insurance -$146
HOA -$21
Property Management Fees -$99
CASH FLOW
-$91

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.

$325,000

PROJECTED PRICE

$2,020

PROJECTED RENT

0.62%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 7.8%
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$10k

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$91,875

INVESTMENT

$91,875

Down Payment
$81,250
Rehab Estimate
$5,750
Closing Costs
$4,875

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,199

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $81,250
Loan Amount $243,750
See What Happens When You Reinvest Cash Flow

3.33

YEARS SAVED

$11,025

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,020

    LIST RENT
  • $0.99

    LIST RENT PER SQFT
  • $2,012

    COMP ESTIMATED VALUE
  • $0.98

    COMP AVG. RENT PER SQFT
Comps Range
$1,725
1$1,7252$1,7503$1,8504$2,0205$2,300
$2,300
RENT COMPS ANALYSIS
  • 2408 Miranda Place Denton, TX 4
    • 4 beds 2 baths ∙ 2,048 Sqft ∙ Built 2009 4 beds 2 baths ∙ 2,048 Sqft ∙ Built 2009
    • Rent
    • Rent Per SQFT
    •  
    • $2,020
    • $0.99
    •  
  • 5714 Green Ivy Road Denton, TX 1
    • 3 beds 2 baths ∙ 1,860 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,860 Sqft ∙ Built 2006
    LEASED 09/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,725
    • $0.93
    •  
  • 3227 Andalusian Drive Denton, TX 2
    • 3 beds 2 baths ∙ 1,860 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,860 Sqft ∙ Built 2004
    LEASED 12/18/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.94
    •  
  • 2400 Miranda Place Denton, TX 3
    • 3 beds 2 baths ∙ 1,850 Sqft ∙ Built 2008 3 beds 2 baths ∙ 1,850 Sqft ∙ Built 2008
    LEASED 09/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $1.00
    •  
  • 4125 Bonita Avenue Denton, TX 5
    • 4 beds 2 baths ∙ 2,178 Sqft ∙ Built 2016 4 beds 2 baths ∙ 2,178 Sqft ∙ Built 2016
    LEASED 10/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.06
    •  
PROPERTY LISTING DETAILS
Charlene Winter
New Age Real Estate
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14469982
Last Updated: 11/12/2020
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