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2800 Pinto Drive Denton, TX 76210

4 Beds 2 Baths 2,028 sqft Built 2003

$300,000

List Price

$1,840

$1.7K - $2K

Rent Est.

PROPERTY INFO

October 30, 2020 RECENTLY ADDED
FACTS
  • Built In 2003
  • Price/Sqft : $147.93
  • 5 Days on Market
  • MLS # : 14462709
  • Updated Date : 10/30/2020 at 00:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,028 sqft
  • Baths : 2 full
Listing Agent

Opendoor Brokerage, Llc

Listing Agent's Description

This Denton one-story home offers granite countertops and a two-car garage. This home is vacant and cleaned regularly.

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: Sundown Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280kPrice in $115k283k

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

Neighborhood: Sundown Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019 Q290010001100120013001400150016001700180019002000Rent in $8702021

* 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
 

$270,000$330,000$300,000

PURCHASE PRICE

$1,656$2,024$1,840

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,840
EXPENSES Loan Payment -$1,107
Property Tax -$597
Property Insurance -$144
HOA -$52
Property Management Fees -$99
CASH FLOW
-$159

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.

$300,000

PROJECTED PRICE

$1,840

PROJECTED RENT

0.61%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 8.9%
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-$6.0k-$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$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$85,250

INVESTMENT

$85,250

Down Payment
$75,000
Rehab Estimate
$5,750
Closing Costs
$4,500

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,107

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $75,000
Loan Amount $225,000
See What Happens When You Reinvest Cash Flow

2.17

YEARS SAVED

$5,361

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,840

    LIST RENT
  • $0.91

    LIST RENT PER SQFT
  • $1,962

    COMP ESTIMATED VALUE
  • $0.97

    COMP AVG. RENT PER SQFT
Comps Range
$1,695
1$1,6952$1,8003$1,8404$1,8955$1,900
$1,900
RENT COMPS ANALYSIS
  • 2800 Pinto Drive Denton, TX 3
    • 4 beds 2 baths ∙ 2,028 Sqft ∙ Built 2003 4 beds 2 baths ∙ 2,028 Sqft ∙ Built 2003
    • Rent
    • Rent Per SQFT
    •  
    • $1,840
    • $0.91
    •  
  • 2409 Westheimer Road Denton, TX 1
    • 3 beds 2 baths ∙ 1,869 Sqft ∙ Built 1999 3 beds 2 baths ∙ 1,869 Sqft ∙ Built 1999
    LEASED 03/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.91
    •  
  • 2600 Arabian Avenue Denton, TX 2
    • 4 beds 3 baths ∙ 1,837 Sqft ∙ Built 2004 4 beds 3 baths ∙ 1,837 Sqft ∙ Built 2004
    LEASED 05/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.98
    •  
  • 3312 Sombrero Drive Denton, TX 4
    • 3 beds 2 baths ∙ 1,876 Sqft ∙ Built 2013 3 beds 2 baths ∙ 1,876 Sqft ∙ Built 2013
    LEASED 06/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $1.01
    •  
  • 2509 Kariba Lane Denton, TX 5
    • 4 beds 2 baths ∙ 1,953 Sqft ∙ Built 1999 4 beds 2 baths ∙ 1,953 Sqft ∙ Built 1999
    LEASED 08/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.97
    •  
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 #: 14462709
Last Updated: 10/30/2020
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