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2504 Denison Street Denton, TX 76201

3 Beds 2 Baths 1,361 sqft Built 1980

INVESTimate

$200,000

List Price

$1,550

$1,395 - $1,705

Rent Est.

$223,160  ( +11.58%)   1 YR EST. FORECAST

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
August 21, 2020 RECENTLY ADDED
FACTS
  • Built In 1980
  • Price/Sqft : $146.95
  • 6 Days on Market
  • MLS # : 14404704
  • Updated Date : 08/21/2020 at 19:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,361 sqft
  • Baths : 2 full
Listing Agent

Compass Re Texas, Llc

Listing Agent's Description

SO MUCH CHARM in this lovingly cared for and meticulously maintained home located in the heart on Denton! Almost everything replaced over the past 5 years: Windows, All HVAC system and components, roof, cabinets in Kitchen, bathroom faucets, carpet, laminate wood look flooring, kitchen cabinets, installed granite counter tops in kitchen and both bathrooms, kitchen backsplash, water heater, both front and back doors & dishwasher. So much Loads of parking space and there is a 20 x 20 concrete slab in the backyard for you to build a shed, shop, she shed or man cave. Steps to the popular area of Denton's downtown where you can listen to live music, pick up the train, shop, dine and take in the local events.

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

Zip Code: 76201

ZipNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240kPrice in $97k247k

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

Zip Code: 76201

ZipNIR Market*CityMarket2010Year20002019 Q280090010001100120013001400150016001700Rent in $7391769

* 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
 

$180,000$220,000$200,000

PURCHASE PRICE

$1,395$1,705$1,550

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

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

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,550
EXPENSES Loan Payment -$738
Property Tax -$398
Property Insurance -$106
Property Management Fees -$99
CASH FLOW
$210

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.

$200,000

PROJECTED PRICE

$1,550

PROJECTED RENT

0.78%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 11.58%
Maintenance Year (1-5) 8.00%
Vacancy 6.39%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$58,750

INVESTMENT

$58,750

Down Payment
$50,000
Rehab Estimate
$5,750
Closing Costs
$3,000

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$738

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $50,000
Loan Amount $150,000
See What Happens When You Reinvest Cash Flow

9.67

YEARS SAVED

$32,390

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,550

    LIST RENT
  • $1.14

    LIST RENT PER SQFT
  • $1,688

    COMP ESTIMATED VALUE
  • $1.24

    COMP AVG. RENT PER SQFT
Comps Range
$1,500
1$1,5002$1,5503$1,5954$1,6505$2,000
$2,000
RENT COMPS ANALYSIS
  • 2504 Denison Street Denton, TX 2
    • 3 beds 2 baths ∙ 1,361 Sqft ∙ Built 1980 3 beds 2 baths ∙ 1,361 Sqft ∙ Built 1980
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $1.14
    •  
  • 1304 Windstream Street Denton, TX 1
    • 3 beds 2 baths ∙ 1,229 Sqft ∙ Built 1984 3 beds 2 baths ∙ 1,229 Sqft ∙ Built 1984
    property image
    LEASED 09/03/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $1.22
    •  
  • 527 Strata Drive Denton, TX 3
    • 3 beds 2 baths ∙ 1,337 Sqft ∙ Built 1997 3 beds 2 baths ∙ 1,337 Sqft ∙ Built 1997
    property image
    LEASED 05/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $1.19
    •  
  • 105 Peach Street Denton, TX 4
    • 3 beds 2 baths ∙ 1,310 Sqft ∙ Built 1963 3 beds 2 baths ∙ 1,310 Sqft ∙ Built 1963
    property image
    LEASED 04/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.26
    •  
  • 1318 Greenbriar Street Denton, TX 5
    • 3 beds 2 baths ∙ 1,548 Sqft ∙ Built 1970 3 beds 2 baths ∙ 1,548 Sqft ∙ Built 1970
    property image
    LEASED 08/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $1.29
    •  
PROPERTY LISTING DETAILS
K.e. Boyd
Compass Re Texas, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14404704
Last Updated: 08/21/2020
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