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2517 Summer Trail Drive Denton, TX 76209

3 Beds 2 Baths 1,960 sqft Built 2016

$265,000

List Price

$1,870

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

December 18, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2016
  • Price/Sqft : $135.20
  • 3 Days on Market
  • MLS # : 14487232
  • Updated Date : 12/18/2020 at 18:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,960 sqft
  • Baths : 2 full
Listing Agent

Monument Realty

Listing Agent's Description

MUST SEE!! Spectacular single-story home nestled in High desired community located at southwest corner of Hwy 380 & 288. This home offers 3 bedrooms and 2 full baths, kitchen features granite countertops, SS appliances, tons of cabinets space, wood floors in the main living area. Open floorplan gives the best entertainment with family. Retreat to the primary suite at the end of the day that is graced with a garden tub, separate shower, and his&her own walk-in closet. Bring a smile to your face when you step outside to the best yard on the block, there's no house on the left side of this home, imagine all the space you can have. This Home is fresh as new, come and experience the exquisite joy of it!

SEE MORE

MARKET HIGHLIGHTS

  • # 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)
  • . Dallas has 7th largest concentration of high-tech jobs in the U.S. (Dallas Chamber)

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
 

$238,500$291,500$265,000

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 -$978
Property Tax -$527
Property Insurance -$140
HOA -$20
Property Management Fees -$99
CASH FLOW
$106

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.

$265,000

PROJECTED PRICE

$1,870

PROJECTED RENT

0.71%

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-$2.0k$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$200k$400k$600k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$75,975

INVESTMENT

$75,975

Down Payment
$66,250
Rehab Estimate
$5,750
Closing Costs
$3,975

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$978

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $66,250
Loan Amount $198,750
See What Happens When You Reinvest Cash Flow

6.58

YEARS SAVED

$24,535

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
  • 2517 Summer Trail Drive Denton, TX 4
    • 3 beds 2 baths ∙ 1,960 Sqft ∙ Built 2016 3 beds 2 baths ∙ 1,960 Sqft ∙ Built 2016
    • 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
    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
    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
    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
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.98
    •  
PROPERTY LISTING DETAILS
Xueling Jordan
Monument Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14487232
Last Updated: 12/18/2020
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