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2901 Terry Court Denton, TX 76209

3 Beds 2 Baths 1,233 sqft Built 1986

$226,200

List Price

$1,450

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

January 29, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1986
  • Price/Sqft : $183.45
  • 3 Days on Market
  • MLS # : 14509281
  • Updated Date : 01/29/2021 at 21:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,233 sqft
  • Baths : 2 full
Listing Agent

Berkshire Hathawayhs Penfed Tx

Listing Agent's Description

Come see this updated gem with 3 bedrooms, 2 full bathrooms nestled in the lovely subdivision of East Hampton Village! Interior of the home has been completely repainted. The spacious living room is open to the kitchen and features a wood-burning fireplace with modern tile surround and an awesome sliding glass door that leads to the backyard and filters in natural light throughout the home. The well-appointed kitchen offers a cozy kitchen nook, great lighting, and tile floors. Step out to the covered back patio and enjoy the huge backyard where there is plenty of room to entertain. Easy access to E. University Dr., schools, parks, and playgrounds.

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: East Hampton Village

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240kPrice in $81k247k

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

Neighborhood: East Hampton Village

NeighborhoodNIR Market*CityMarket2010Year20002019 Q280090010001100120013001400150016001700Rent in $7301769

* 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
 

$203,580$248,820$226,200

PURCHASE PRICE

$1,305$1,595$1,450

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,450
EXPENSES Loan Payment -$786
Property Tax -$450
Property Insurance -$98
Property Management Fees -$99
CASH FLOW
$17

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.

$226,200

PROJECTED PRICE

$1,450

PROJECTED RENT

0.64%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 10.1%
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$100k$200k$300k$400k$500k$600k$700k$800k

PROJECTED ANNUAL CASH FLOW

11530-$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$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$65,693

INVESTMENT

$65,693

Down Payment
$56,550
Rehab Estimate
$5,750
Closing Costs
$3,393

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$786

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $56,550
Loan Amount $169,650
See What Happens When You Reinvest Cash Flow

5

YEARS SAVED

$11,606

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,450

    LIST RENT
  • $1.18

    LIST RENT PER SQFT
  • $1,449

    COMP ESTIMATED VALUE
  • $1.18

    COMP AVG. RENT PER SQFT
Comps Range
$1,450
1$1,4502$1,4953$1,5504$1,5505$1,600
$1,600
RENT COMPS ANALYSIS
  • 2901 Terry Court Denton, TX 1
    • 3 beds 2 baths ∙ 1,233 Sqft ∙ Built 1986 3 beds 2 baths ∙ 1,233 Sqft ∙ Built 1986
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $1.18
    •  
  • 2917 Oakshire Street Denton, TX 2
    • 3 beds 2 baths ∙ 1,275 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,275 Sqft ∙ Built 2004
    property image
    LEASED 02/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $1.17
    •  
  • 2937 Oakshire Street Denton, TX 3
    • 3 beds 2 baths ∙ 1,264 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,264 Sqft ∙ Built 2005
    property image
    LEASED 06/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $1.23
    •  
  • 2933 Oakshire Street Denton, TX 4
    • 3 beds 2 baths ∙ 1,314 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,314 Sqft ∙ Built 2006
    property image
    LEASED 06/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $1.18
    •  
  • 1205 Allen Court Denton, TX 5
    • 3 beds 2 baths ∙ 1,424 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,424 Sqft ∙ Built 2005
    property image
    LEASED 01/25/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $1.12
    •  
PROPERTY LISTING DETAILS
Wendy Galloway
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 #: 14509281
Last Updated: 01/29/2021
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