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2500 La Paloma Drive Denton, TX 76209

3 Beds 2 Baths 1,344 sqft Built 1983

$225,000

List Price

$1,480

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

February 12, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1983
  • Price/Sqft : $167.41
  • 4 Days on Market
  • MLS # : 14516578
  • Updated Date : 02/11/2021 at 20:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,344 sqft
  • Baths : 2 full
Listing Agent

The Michael Group

Listing Agent's Description

Come see this home located on a spacious lot in a quiet subdivision off loop 288 in Denton. This home is one of kind with a master bedroom glass wall with shelves and beautiful natural lighting. The office space you might find very cozy. Not far from this cozy retreat and will find the deck will lead you to the next big back yard bbq. Another amazing feature is the extra parking space. 2 car garage and Rv parking. Make this house into your personal sanctuary.

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: Northwood

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $106k336k

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

Neighborhood: Northwood

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2900100011001200130014001500160017001800190020002100Rent in $8252171

* 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
 

$202,500$247,500$225,000

PURCHASE PRICE

$1,332$1,628$1,480

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,480
EXPENSES Loan Payment -$782
Property Tax -$447
Property Insurance -$105
Property Management Fees -$99
CASH FLOW
$47

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.

$225,000

PROJECTED PRICE

$1,480

PROJECTED RENT

0.66%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 7.0%
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$100k$200k$300k$400k$500k$600k$700k

PROJECTED ANNUAL CASH FLOW

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$65,375

INVESTMENT

$65,375

Down Payment
$56,250
Rehab Estimate
$5,750
Closing Costs
$3,375

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$782

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $56,250
Loan Amount $168,750
See What Happens When You Reinvest Cash Flow

5.58

YEARS SAVED

$13,818

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,480

    LIST RENT
  • $1.1

    LIST RENT PER SQFT
  • $1,478

    COMP ESTIMATED VALUE
  • $1.1

    COMP AVG. RENT PER SQFT
Comps Range
$1,425
1$1,4252$1,4803$1,4954$1,5005$1,695
$1,695
RENT COMPS ANALYSIS
  • 2500 La Paloma Drive Denton, TX 2
    • 3 beds 2 baths ∙ 1,344 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,344 Sqft ∙ Built 1983
    • Rent
    • Rent Per SQFT
    •  
    • $1,480
    • $1.10
    •  
  • 2528 Quail Ridge Drive Denton, TX 1
    • 3 beds 2 baths ∙ 1,221 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,221 Sqft ∙ Built 1983
    LEASED 03/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,425
    • $1.17
    •  
  • 2536 La Paloma Drive Denton, TX 3
    • 3 beds 2 baths ∙ 1,467 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,467 Sqft ∙ Built 1983
    LEASED 10/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $1.02
    •  
  • 2728 Mill Pond Road Denton, TX 4
    • 3 beds 2 baths ∙ 1,421 Sqft ∙ Built 1979 3 beds 2 baths ∙ 1,421 Sqft ∙ Built 1979
    LEASED 03/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $1.06
    •  
  • 2716 Foxcroft Circle Denton, TX 5
    • 3 beds 2 baths ∙ 1,475 Sqft ∙ Built 1968 3 beds 2 baths ∙ 1,475 Sqft ∙ Built 1968
    LEASED 11/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $1.15
    •  
PROPERTY LISTING DETAILS
Chris Hutchinson
The Michael Group
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14516578
Last Updated: 02/11/2021
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