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2558 Quail Ridge Drive Denton, TX 76209

3 Beds 2 Baths 1,190 sqft Built 1983

$235,000

List Price

$1,410

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 25, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1983
  • Price/Sqft : $197.48
  • 4 Days on Market
  • MLS # : 14521888
  • Updated Date : 02/25/2021 at 12:26
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,190 sqft
  • Baths : 2 full
Listing Agent

Opendoor Brokerage, Llc

Listing Agent's Description

This Denton one-story home offers a two-car garage. This home is vacant and cleaned regularly. This home has been virtually staged to illustrate its potential.

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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

Neighborhood: Northwood

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $106k336k

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

Neighborhood: Northwood

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2900100011001200130014001500160017001800190020002100Rent in $8252171

* 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
 

$211,500$258,500$235,000

PURCHASE PRICE

$1,269$1,551$1,410

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,410
EXPENSES Loan Payment -$816
Property Tax -$467
Property Insurance -$96
Property Management Fees -$99
CASH FLOW
-$68

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.

$235,000

PROJECTED PRICE

$1,410

PROJECTED RENT

0.60%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 7.0%
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$100k$200k$300k$400k$500k$600k$700k

PROJECTED ANNUAL CASH FLOW

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

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$68,025

INVESTMENT

$68,025

Down Payment
$58,750
Rehab Estimate
$5,750
Closing Costs
$3,525

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$816

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $58,750
Loan Amount $176,250
See What Happens When You Reinvest Cash Flow

3.25

YEARS SAVED

$6,334

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,410

    LIST RENT
  • $1.18

    LIST RENT PER SQFT
  • $1,407

    COMP ESTIMATED VALUE
  • $1.18

    COMP AVG. RENT PER SQFT
Comps Range
$1,410
1$1,4102$1,4253$1,5254$1,5505$1,600
$1,600
RENT COMPS ANALYSIS
  • 2558 Quail Ridge Drive Denton, TX 1
    • 3 beds 2 baths ∙ 1,190 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,190 Sqft ∙ Built 1983
    • Rent
    • Rent Per SQFT
    •  
    • $1,410
    • $1.18
    •  
  • 2528 Quail Ridge Drive Denton, TX 2
    • 3 beds 2 baths ∙ 1,221 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,221 Sqft ∙ Built 1983
    LEASED 03/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,425
    • $1.17
    •  
  • 2709 Mill Pond Road Denton, TX 3
    • 3 beds 2 baths ∙ 1,300 Sqft ∙ Built 1979 3 beds 2 baths ∙ 1,300 Sqft ∙ Built 1979
    LEASED 12/21/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,525
    • $1.17
    •  
  • 2508 Chaparral Court Denton, TX 4
    • 3 beds 2 baths ∙ 1,320 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,320 Sqft ∙ Built 1983
    LEASED 08/30/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $1.17
    •  
  • 2749 Mill Pond Road Denton, TX 5
    • 3 beds 2 baths ∙ 1,311 Sqft ∙ Built 1982 3 beds 2 baths ∙ 1,311 Sqft ∙ Built 1982
    LEASED 12/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $1.22
    •  
PROPERTY LISTING DETAILS
Feras Rachid
Opendoor Brokerage, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14521888
Last Updated: 02/25/2021
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