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2529 Freedom Lane Denton, TX 76209

3 Beds 2 Baths 1,896 sqft Built 1984

$240,000

List Price

$1,900

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
December 14, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1984
  • Price/Sqft : $126.58
  • 7 Days on Market
  • MLS # : 14484175
  • Updated Date : 12/14/2020 at 11:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,896 sqft
  • Baths : 2 full
Listing Agent

Redfin Corporation

Listing Agent's Description

Move-in ready 1-story home has been recently updated & is nestled on a huge yard with mature shade trees! On-trend, stylish updates including granite counters in the kitchen & bathrooms, new wood-like flooring, & fresh paint throughout. The sprawling floor plan has spacious rooms including 2 living areas & a 768 sq ft addition in the back to use as you see fit-use as storage, a workshop with attic, additional living space, gaming area, etc. Huge living room at the front of the house has lots of windows providing tons of natural light. 2nd living space has a solid brick, wood-burning fireplace & is next to the kitchen. Tranquil owners retreat has an en-suite. Don't miss this wonderful home!

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

Neighborhood: Northwood Estates

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300k320kPrice in $94k336k

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

Neighborhood: Northwood Estates

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2800900100011001200130014001500160017001800190020002100Rent in $7702171

* 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
 

$216,000$264,000$240,000

PURCHASE PRICE

$1,710$2,090$1,900

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,900
EXPENSES Loan Payment -$886
Property Tax -$477
Property Insurance -$137
Property Management Fees -$99
CASH FLOW
$302

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.

$240,000

PROJECTED PRICE

$1,900

PROJECTED RENT

0.79%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 8.4%
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$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$69,350

INVESTMENT

$69,350

Down Payment
$60,000
Rehab Estimate
$5,750
Closing Costs
$3,600

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% down payment or higher enables the proceeds from the asset to cover all costs.

$886

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $60,000
Loan Amount $180,000
See What Happens When You Reinvest Cash Flow

10.67

YEARS SAVED

$44,497

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,900

    LIST RENT
  • $1

    LIST RENT PER SQFT
  • $1,910

    COMP ESTIMATED VALUE
  • $1.01

    COMP AVG. RENT PER SQFT
Comps Range
$1,595
1$1,5952$1,8503$1,8504$1,9005$2,000
$2,000
RENT COMPS ANALYSIS
  • 2529 Freedom Lane Denton, TX 4
    • 3 beds 2 baths ∙ 1,896 Sqft ∙ Built 1984 3 beds 2 baths ∙ 1,896 Sqft ∙ Built 1984
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $1.00
    •  
  • 1700 Audra Lane Denton, TX 1
    • 4 beds 2 baths ∙ 1,696 Sqft ∙ Built 1985 4 beds 2 baths ∙ 1,696 Sqft ∙ Built 1985
    LEASED 05/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.94
    •  
  • 2505 Craig Lane Denton, TX 2
    • 3 beds 3 baths ∙ 1,816 Sqft ∙ Built 1985 3 beds 3 baths ∙ 1,816 Sqft ∙ Built 1985
    LEASED 11/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $1.02
    •  
  • 1539 Pickwick Lane Denton, TX 3
    • 3 beds 2 baths ∙ 1,724 Sqft ∙ Built 1985 3 beds 2 baths ∙ 1,724 Sqft ∙ Built 1985
    LEASED 11/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $1.07
    •  
  • 2616 Jamestown Lane Denton, TX 5
    • 3 beds 2 baths ∙ 2,000 Sqft ∙ Built 1968 3 beds 2 baths ∙ 2,000 Sqft ∙ Built 1968
    LEASED 05/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $1.00
    •  
PROPERTY LISTING DETAILS
Christy Mullins
Redfin Corporation
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14484175
Last Updated: 12/14/2020
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