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2808 Silver Sage Drive Denton, TX 76209

3 Beds 2 Baths 1,960 sqft Built 2017

$275,000

List Price

$1,870

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

January 08, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2017
  • Price/Sqft : $140.31
  • 3 Days on Market
  • MLS # : 14495818
  • Updated Date : 01/08/2021 at 19:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,960 sqft
  • Baths : 2 full
Listing Agent

Fort Worth Property Group

Listing Agent's Description

Wonderfully maintained home, almost like new, sitting on a large corner lot in quiet neighborhood, close to schools and shopping. Well built and it shows with crown molding, granite countertops and stainless steel appliances. The main living room is open to the kitchen and casual dining area with breakfast bar. Wall of windows along the back provides natural light all day. Spacious master bedroom with vaulted ceilings and en suite bath, including garden tub, separate shower, dual sinks and walk in closet. Large covered back patio perfect for entertaining. Spacious yard completely fenced in for privacy and pets. Attached please find 360 Virtual Tour to preview this property in it's entirety.

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: Bellaire Heights

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240kPrice in $84k247k

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

Neighborhood: Bellaire Heights

NeighborhoodNIR Market*CityMarket2010Year20002019 Q280090010001100120013001400150016001700Rent in $7511769

* 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
Lee Elementary School Primary Regular 619 43 6
Strickland Middle School Middle Regular 899 65 5
Billy Ryan High School High Regular 2,409 170 5

Lee Elementary School

  • Education Level: Primary
  • # of students: 619
  • # of teachers: 43
6
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
 

$247,500$302,500$275,000

PURCHASE PRICE

$1,683$2,057$1,870

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,870
EXPENSES Loan Payment -$955
Property Tax -$547
Property Insurance -$140
Property Management Fees -$99
CASH FLOW
$129

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.

$275,000

PROJECTED PRICE

$1,870

PROJECTED RENT

0.68%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 6.6%
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$200k$400k$600k$800k

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

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$78,625

INVESTMENT

$78,625

Down Payment
$68,750
Rehab Estimate
$5,750
Closing Costs
$4,125

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$955

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $68,750
Loan Amount $206,250
See What Happens When You Reinvest Cash Flow

7

YEARS SAVED

$23,046

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,870

    LIST RENT
  • $0.95

    LIST RENT PER SQFT
  • $1,862

    COMP ESTIMATED VALUE
  • $0.95

    COMP AVG. RENT PER SQFT
Comps Range
$1,800
1$1,8002$1,8503$1,8504$1,8705$1,895
$1,895
RENT COMPS ANALYSIS
  • 2808 Silver Sage Drive Denton, TX 4
    • 3 beds 2 baths ∙ 1,960 Sqft ∙ Built 2017 3 beds 2 baths ∙ 1,960 Sqft ∙ Built 2017
    • Rent
    • Rent Per SQFT
    •  
    • $1,870
    • $0.95
    •  
  • 2409 Fall Leaf Court Denton, TX 1
    • 3 beds 2 baths ∙ 1,960 Sqft ∙ Built 2015 3 beds 2 baths ∙ 1,960 Sqft ∙ Built 2015
    LEASED 01/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.92
    •  
  • 2420 Summer Trail Drive Denton, TX 2
    • 3 beds 2 baths ∙ 1,927 Sqft ∙ Built 2016 3 beds 2 baths ∙ 1,927 Sqft ∙ Built 2016
    LEASED 05/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.96
    •  
  • 901 Summer Oaks Drive Denton, TX 3
    • 3 beds 2 baths ∙ 1,961 Sqft ∙ Built 2015 3 beds 2 baths ∙ 1,961 Sqft ∙ Built 2015
    LEASED 06/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.94
    •  
  • 808 Oak Valley Denton, TX 5
    • 3 beds 2 baths ∙ 1,927 Sqft ∙ Built 2016 3 beds 2 baths ∙ 1,927 Sqft ∙ Built 2016
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.98
    •  
PROPERTY LISTING DETAILS
Sanford Finkelstein
Fort Worth Property Group
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14495818
Last Updated: 01/08/2021
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