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2529 John Drive Denton, TX 76207

3 Beds 2 Baths 1,332 sqft Built 1998

$231,950

List Price

$1,460

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

November 22, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1998
  • Price/Sqft : $174.14
  • 2 Days on Market
  • MLS # : 14467803
  • Updated Date : 11/21/2020 at 23:16
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,332 sqft
  • Baths : 2 full
Listing Agent

John Palmer Real Estate

Listing Agent's Description

A freshly remodeled GEM! Lincoln Quartz kitchen countertops. Lincoln Quartz countertops in both bathrooms. Beautiful fireplace leather finished textured Taj Mahal granite surround and hearth. Fresh interior paint throughout. Brand new flooring throughout entire home. Very nice neighborhood without the bother of an expensive HOA. Huge backyard that would work for a pool or playground equipment. A really nice large high ceiling shed that could function as a workshop or lawn equipment and tool storage.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Westgate Hills North

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240kPrice in $101k249k

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

Neighborhood: Westgate Hills North

NeighborhoodNIR Market*CityMarket2010Year20002019 Q290010001100120013001400150016001700Rent in $8111769

* 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
 

$208,755$255,145$231,950

PURCHASE PRICE

$1,314$1,606$1,460

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,460
EXPENSES Loan Payment -$856
Property Tax -$461
Property Insurance -$104
Property Management Fees -$99
CASH FLOW
-$60

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.

$231,950

PROJECTED PRICE

$1,460

PROJECTED RENT

0.63%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 8.6%
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$100k$200k$300k$400k$500k$600k$700k$800k

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k

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$67,217

INVESTMENT

$67,217

Down Payment
$57,988
Rehab Estimate
$5,750
Closing Costs
$3,479

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$856

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $57,988
Loan Amount $173,963
See What Happens When You Reinvest Cash Flow

3.5

YEARS SAVED

$8,587

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,460

    LIST RENT
  • $1.1

    LIST RENT PER SQFT
  • $1,522

    COMP ESTIMATED VALUE
  • $1.14

    COMP AVG. RENT PER SQFT
Comps Range
$1,460
1$1,4602$1,5503$1,5754$1,6505$1,650
$1,650
RENT COMPS ANALYSIS
  • 2529 John Drive Denton, TX 1
    • 3 beds 2 baths ∙ 1,332 Sqft ∙ Built 1998 3 beds 2 baths ∙ 1,332 Sqft ∙ Built 1998
    • Rent
    • Rent Per SQFT
    •  
    • $1,460
    • $1.10
    •  
  • 2301 Southway Denton, TX 2
    • 3 beds 2 baths ∙ 1,390 Sqft ∙ Built 2000 3 beds 2 baths ∙ 1,390 Sqft ∙ Built 2000
    LEASED 10/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $1.12
    •  
  • 2224 Westview Trail Denton, TX 3
    • 3 beds 2 baths ∙ 1,356 Sqft ∙ Built 1988 3 beds 2 baths ∙ 1,356 Sqft ∙ Built 1988
    LEASED 11/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,575
    • $1.16
    •  
  • 2205 Southway Denton, TX 4
    • 3 beds 2 baths ∙ 1,477 Sqft ∙ Built 2001 3 beds 2 baths ∙ 1,477 Sqft ∙ Built 2001
    LEASED 10/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.12
    •  
  • 2225 Parkside Drive Denton, TX 5
    • 3 beds 2 baths ∙ 1,413 Sqft ∙ Built 1985 3 beds 2 baths ∙ 1,413 Sqft ∙ Built 1985
    LEASED 11/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.17
    •  
PROPERTY LISTING DETAILS
John Palmer
John Palmer Real Estate
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14467803
Last Updated: 11/21/2020
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