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2648 Cumberland Court Denton, TX 76210

3 Beds 2 Baths 1,817 sqft Built 1996

$284,500

List Price

$1,700

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

October 30, 2020 RECENTLY ADDED
FACTS
  • Built In 1996
  • Price/Sqft : $156.58
  • 5 Days on Market
  • MLS # : 14456960
  • Updated Date : 10/31/2020 at 08:37
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,817 sqft
  • Baths : 2 full
Listing Agent

Berkshire Hathawayhs Penfed Tx

Listing Agent's Description

Outdoor living at its best featuring mature landscaping, multiple patio seating areas & tranquil garden rock waterfall. This premium quarter acre home, situated on a cul-de-sac & corner lot with easy access to walking trails, offers an extended driveway with desirable side garage. Interior highlights include wood floors, soaring ceilings & floor to ceiling windows with 2in Hunter Douglas Wood Blinds. Open Concept Kitchen with island & upgraded 42in cabinets offers pass-through access to formal dining area, which showcases a shared see-through fireplace. Spacious Master Suite impresses with jetted tub, sit down vanity, upgraded bronze bathroom fixtures & window seat overlooking backyard oasis. 2 min from I-35E

SEE MORE

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: Southridge Estates

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $115k336k

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

Neighborhood: Southridge Estates

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2900100011001200130014001500160017001800190020002100Rent in $8702171

* 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
Houston Elementary School Primary Regular 583 43 6
Carroll Mcmath Middle School Middle Regular 741 55 6
Denton High School High Regular 2,166 140 6

Houston Elementary School

  • Education Level: Primary
  • # of students: 583
  • # of teachers: 43
6
GreatSchools Rating

Carroll Mcmath Middle School

  • Education Level: Middle
  • # of students: 741
  • # of teachers: 55
6
GreatSchools Rating

Denton High School

  • Education Level: High
  • # of students: 2,166
  • # of teachers: 140
6
GreatSchools Rating
 

$256,050$312,950$284,500

PURCHASE PRICE

$1,530$1,870$1,700

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,700
EXPENSES Loan Payment -$1,050
Property Tax -$566
Property Insurance -$132
HOA -$42
Property Management Fees -$99
CASH FLOW
-$189

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.

$284,500

PROJECTED PRICE

$1,700

PROJECTED RENT

0.60%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 7.8%
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

PROJECTED ANNUAL CASH FLOW

11530-$6.0k-$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$200k$400k$600k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$81,143

INVESTMENT

$81,143

Down Payment
$71,125
Rehab Estimate
$5,750
Closing Costs
$4,268

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$1,050

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $71,125
Loan Amount $213,375
See What Happens When You Reinvest Cash Flow

1.58

YEARS SAVED

$3,306

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,700

    LIST RENT
  • $0.94

    LIST RENT PER SQFT
  • $1,740

    COMP ESTIMATED VALUE
  • $0.96

    COMP AVG. RENT PER SQFT
Comps Range
$1,595
1$1,5952$1,7003$1,7004$1,7505$1,900
$1,900
RENT COMPS ANALYSIS
  • 2648 Cumberland Court Denton, TX 3
    • 3 beds 2 baths ∙ 1,817 Sqft ∙ Built 1996 3 beds 2 baths ∙ 1,817 Sqft ∙ Built 1996
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.94
    •  
  • 1113 Ellison Park Circle Denton, TX 1
    • 3 beds 2 baths ∙ 1,776 Sqft ∙ Built 1999 3 beds 2 baths ∙ 1,776 Sqft ∙ Built 1999
    property image
    LEASED 02/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.90
    •  
  • 2013 Lamprey Circle Denton, TX 2
    • 3 beds 2 baths ∙ 1,764 Sqft ∙ Built 1998 3 beds 2 baths ∙ 1,764 Sqft ∙ Built 1998
    property image
    LEASED 04/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.96
    •  
  • 2004 Loon Lake Road Denton, TX 4
    • 3 beds 2 baths ∙ 1,752 Sqft ∙ Built 1999 3 beds 2 baths ∙ 1,752 Sqft ∙ Built 1999
    property image
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $1.00
    •  
  • 2509 Kariba Lane Denton, TX 5
    • 4 beds 2 baths ∙ 1,953 Sqft ∙ Built 1999 4 beds 2 baths ∙ 1,953 Sqft ∙ Built 1999
    property image
    LEASED 08/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.97
    •  
PROPERTY LISTING DETAILS
Jenevieve Croall
Berkshire Hathawayhs Penfed Tx
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14456960
Last Updated: 10/31/2020
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