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2909 Montebello Drive Denton, TX 76210

3 Beds 2 Baths 2,045 sqft Built 2014

$364,900

List Price

$2,180

$2K - $2.4K

Rent Est.

PROPERTY INFO

January 06, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2014
  • Price/Sqft : $178.44
  • 5 Days on Market
  • MLS # : 14495352
  • Updated Date : 01/09/2021 at 16:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,045 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Realty

Listing Agent's Description

This is a Custom home with 3,2,2 in the highly desired gated community of Tuscan Hills. This home offers a large open kitchen with upgraded granite, center island, 42 in cabinets with pots n pans drawers, SS appliances, gas cook-top and eat in kitchen. A large living room with corner stone fireplace, a formal dining, front office with French doors. New vinyl plank flooring just layed. Refrigerator & W-D to convey with accepted sales price. Expanded master suite with sitting area, a large walk-in shower with 2 shower heads. The patio is ideal for an afternoon glass of wine or your morning coffee. Enjoy the beautiful backyard and the partial view of the lake and the great neighbors. Mahe this home Your home!

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: Tuscan Hills

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360k380k400kPrice in $115k402k

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

Neighborhood: Tuscan Hills

NeighborhoodNIR Market*CityMarket2010Year20002019 Q29001000110012001300140015001600170018001900200021002200Rent in $8702222

* 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
Carroll Mcmath Middle School Middle Regular 741 55 6
Denton High School High Regular 2,166 140 6

L.a. Nelson Elementary School

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

$328,410$401,390$364,900

PURCHASE PRICE

$1,962$2,398$2,180

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,180
EXPENSES Loan Payment -$1,267
Property Tax -$726
Property Insurance -$145
HOA -$150
Property Management Fees -$99
CASH FLOW
-$207

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.

$364,900

PROJECTED PRICE

$2,180

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$1.0M

PROJECTED ANNUAL CASH FLOW

11530-$8.0k-$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$102,449

INVESTMENT

$102,449

Down Payment
$91,225
Rehab Estimate
$5,750
Closing Costs
$5,474

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,267

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $91,225
Loan Amount $273,675
See What Happens When You Reinvest Cash Flow

1.58

YEARS SAVED

$3,521

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,180

    LIST RENT
  • $1.07

    LIST RENT PER SQFT
  • $1,984

    COMP ESTIMATED VALUE
  • $0.97

    COMP AVG. RENT PER SQFT
Comps Range
$1,850
1$1,8502$1,8953$1,9004$1,9505$2,180
$2,180
RENT COMPS ANALYSIS
  • 2909 Montebello Drive Denton, TX 5
    • 3 beds 2 baths ∙ 2,045 Sqft ∙ Built 2014 3 beds 2 baths ∙ 2,045 Sqft ∙ Built 2014
    • Rent
    • Rent Per SQFT
    •  
    • $2,180
    • $1.07
    •  
  • 2717 Pinto Drive Denton, TX 1
    • 4 beds 2 baths ∙ 2,028 Sqft ∙ Built 2003 4 beds 2 baths ∙ 2,028 Sqft ∙ Built 2003
    LEASED 11/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.91
    •  
  • 3312 Sombrero Drive Denton, TX 2
    • 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 3
    • 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
    •  
  • 3912 Chimney Rock Drive Denton, TX 4
    • 3 beds 2 baths ∙ 1,965 Sqft ∙ Built 2000 3 beds 2 baths ∙ 1,965 Sqft ∙ Built 2000
    LEASED 12/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.99
    •  
PROPERTY LISTING DETAILS
Mia Terry
Keller Williams Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14495352
Last Updated: 01/09/2021
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