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2901 Paddock Way Denton, TX 76210

5 Beds 3 Baths 3,759 sqft Built 2006

$315,000

List Price

$2,520

$2.3K - $2.8K

Rent Est.

PROPERTY INFO

January 30, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2006
  • Price/Sqft : $83.80
  • 2 Days on Market
  • MLS # : 14508539
  • Updated Date : 01/30/2021 at 21:16
CONSTRUCTION
  • Beds : 5
  • Floor Size : 3,759 sqft
  • Baths : 2 full , 1 half
Listing Agent

Bdbg-bob Dillon Brokerage Grp

Listing Agent's Description

*Ready for New Owners* Beautiful Home in a GREAT LOCATION and WONDERFUL SCHOOL DISTRICT!! This home hosts 5 bedrooms and 2.5 bathrooms and is ENERGY EFFICIENT with $50,000 SOLAR PANEL SYSTEM! Perfect for family and guests! Plenty of space to grow into! As you walk in the front door you are greeted with a large open sitting area along with the formal dining room. Toward the back of the house is the NICE SIZE Kitchen, breakfast area, living room with FIREPLACE, half bathroom, and the Master Bedroom with on suite bathroom with separate bathtub and shower! All 5 bedrooms in this house have WALK IN CLOSETS! Upstairs is an additional living room, 4 extra Bedrooms and a FULL bathroom! Schedule your own tour today!

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: Wheeler Ridge

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $113k336k

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

Neighborhood: Wheeler Ridge

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2900100011001200130014001500160017001800190020002100Rent in $8692171

* 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
L.a. Nelson Elementary School Primary Regular 655 43 7
Crownover Middle School Middle Regular 938 59 8
John H. Guyer High School High Regular 2,395 162 8

L.a. Nelson Elementary School

  • Education Level: Primary
  • # of students: 655
  • # of teachers: 43
7
GreatSchools Rating

Crownover Middle School

  • Education Level: Middle
  • # of students: 938
  • # of teachers: 59
8
GreatSchools Rating

John H. Guyer High School

  • Education Level: High
  • # of students: 2,395
  • # of teachers: 162
8
GreatSchools Rating
 

$283,500$346,500$315,000

PURCHASE PRICE

$2,268$2,772$2,520

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,520
EXPENSES Loan Payment -$1,094
Property Tax -$629
Property Insurance -$244
HOA -$38
Property Management Fees -$99
CASH FLOW
$416

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.

$315,000

PROJECTED PRICE

$2,520

PROJECTED RENT

0.80%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 9.2%
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$1.0M$1.2M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k

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$89,225

INVESTMENT

$89,225

Down Payment
$78,750
Rehab Estimate
$5,750
Closing Costs
$4,725

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% down payment or higher enables the proceeds from the asset to cover all costs.

$1,094

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $78,750
Loan Amount $236,250
See What Happens When You Reinvest Cash Flow

10.75

YEARS SAVED

$50,444

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,520

    LIST RENT
  • $0.67

    LIST RENT PER SQFT
  • $2,547

    COMP ESTIMATED VALUE
  • $0.68

    COMP AVG. RENT PER SQFT
Comps Range
$2,250
1$2,2502$2,5003$2,5204$2,6755$2,850
$2,850
RENT COMPS ANALYSIS
  • 2901 Paddock Way Denton, TX 3
    • 5 beds 3 baths ∙ 3,759 Sqft ∙ Built 2006 5 beds 3 baths ∙ 3,759 Sqft ∙ Built 2006
    • Rent
    • Rent Per SQFT
    •  
    • $2,520
    • $0.67
    •  
  • 44 Rolling Hills Circle Denton, TX 1
    • 4 beds 4 baths ∙ 3,414 Sqft ∙ Built 1987 4 beds 4 baths ∙ 3,414 Sqft ∙ Built 1987
    LEASED 03/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $0.66
    •  
  • 3327 Andalusian Drive Denton, TX 2
    • 5 beds 4 baths ∙ 3,759 Sqft ∙ Built 2004 5 beds 4 baths ∙ 3,759 Sqft ∙ Built 2004
    LEASED 06/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.67
    •  
  • 1613 Glendora Court Denton, TX 4
    • 5 beds 4 baths ∙ 4,002 Sqft ∙ Built 2001 5 beds 4 baths ∙ 4,002 Sqft ∙ Built 2001
    LEASED 08/28/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,675
    • $0.67
    •  
  • 1801 Buena Vista Drive Denton, TX 5
    • 6 beds 4 baths ∙ 4,011 Sqft ∙ Built 2004 6 beds 4 baths ∙ 4,011 Sqft ∙ Built 2004
    LEASED 12/06/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,850
    • $0.71
    •  
PROPERTY LISTING DETAILS
Chris Decoste
Bdbg-bob Dillon Brokerage Grp
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14508539
Last Updated: 01/30/2021
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