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2504 Spring Meadows Drive Denton, TX 76209

3 Beds 2 Baths 1,960 sqft Built 2015

$255,000

List Price

$1,870

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

December 05, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2015
  • Price/Sqft : $130.10
  • 2 Days on Market
  • MLS # : 14480408
  • Updated Date : 12/05/2020 at 19:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,960 sqft
  • Baths : 2 full
Listing Agent

Coldwell Banker Realty Frisco

Listing Agent's Description

BEAUTIFUL 1 STORY 3-2-2 IN THE HEART OF DENTON!! ~Close to Schools & the University of North Texas!~ Great open Floorplan with extended tiled floors, Lrg Chef's Kitchen with Granite Countertops, diagonal tiled back splash, deep under mount SS Sink, SS Appliances with smooth electric Range, Breakfast Bar, & Split Bedroom arrangement with lrg Primary Bedroom, corner Garden tub, over sized shower, wide vanity & W-I closet*Nice sized secondary Bedrooms & Closets*Attractive Brick & Stone front elevation, nicely Landscaped Yard, lrg covered back Patio, Sprinkler System & more!*A MUST SEE!

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

Zip Code: 76209

ZipNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240kPrice in $85k247k

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

Zip Code: 76209

ZipNIR Market*CityMarket2010Year20002019 Q280090010001100120013001400150016001700Rent in $7651769

* 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
Lee Elementary School Primary Regular 619 43 6
Calhoun Middle School Middle Regular 684 54 4
Denton High School High Regular 2,166 140 6

Lee Elementary School

  • Education Level: Primary
  • # of students: 619
  • # of teachers: 43
6
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

$1,683$2,057$1,870

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,870
EXPENSES Loan Payment -$941
Property Tax -$507
Property Insurance -$140
Property Management Fees -$99
CASH FLOW
$183

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.

$255,000

PROJECTED PRICE

$1,870

PROJECTED RENT

0.73%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 10.1%
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$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k

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 45% 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

8.25

YEARS SAVED

$32,417

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,870

    LIST RENT
  • $0.95

    LIST RENT PER SQFT
  • $1,862

    COMP ESTIMATED VALUE
  • $0.95

    COMP AVG. RENT PER SQFT
Comps Range
$1,800
1$1,8002$1,8503$1,8504$1,8705$1,895
$1,895
RENT COMPS ANALYSIS
  • 2504 Spring Meadows Drive Denton, TX 4
    • 3 beds 2 baths ∙ 1,960 Sqft ∙ Built 2015 3 beds 2 baths ∙ 1,960 Sqft ∙ Built 2015
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,870
    • $0.95
    •  
  • 2409 Fall Leaf Court Denton, TX 1
    • 3 beds 2 baths ∙ 1,960 Sqft ∙ Built 2015 3 beds 2 baths ∙ 1,960 Sqft ∙ Built 2015
    property image
    LEASED 01/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.92
    •  
  • 2420 Summer Trail Drive Denton, TX 2
    • 3 beds 2 baths ∙ 1,927 Sqft ∙ Built 2016 3 beds 2 baths ∙ 1,927 Sqft ∙ Built 2016
    property image
    LEASED 05/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.96
    •  
  • 901 Summer Oaks Drive Denton, TX 3
    • 3 beds 2 baths ∙ 1,961 Sqft ∙ Built 2015 3 beds 2 baths ∙ 1,961 Sqft ∙ Built 2015
    property image
    LEASED 06/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.94
    •  
  • 808 Oak Valley Denton, TX 5
    • 3 beds 2 baths ∙ 1,927 Sqft ∙ Built 2016 3 beds 2 baths ∙ 1,927 Sqft ∙ Built 2016
    property image
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.98
    •  
PROPERTY LISTING DETAILS
Wanda Charles
Coldwell Banker Realty Frisco
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14480408
Last Updated: 12/05/2020
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