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2916 Bella Lago Drive Denton, TX 76210

3 Beds 3 Baths 2,356 sqft Built 2013

$379,900

List Price

$2,220

$2K - $2.4K

Rent Est.

PROPERTY INFO

January 15, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2013
  • Price/Sqft : $161.25
  • 3 Days on Market
  • MLS # : 14496140
  • Updated Date : 01/15/2021 at 16:04
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,356 sqft
  • Baths : 2 full , 1 half
Listing Agent

Briko Realty Services

Listing Agent's Description

This is a spectacular 2 story homes in a private gated community of Tuscan Hills. Beautiful home has spectacular amenities including wood flooring, 2 oversized upstairs bedrooms with large hall bath and loft overlooking downstairs family room. Open family and kitchen, gas fireplace, tall ceilings, wall of windows, kitchen with granite, gas cooktop and breakfast bar. Breakfast room overlooking back patio, Entering the home will be a nice study separate from family room. HOA maintains front and back yards. Pool, clubhouse within walking distance. Unicorn lake area, small lake, movies, shopping, restaurants and ice cream parlor.

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: 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
 

$341,910$417,890$379,900

PURCHASE PRICE

$1,998$2,442$2,220

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,220
EXPENSES Loan Payment -$1,320
Property Tax -$755
Property Insurance -$163
HOA -$150
Property Management Fees -$99
CASH FLOW
-$267

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.

$379,900

PROJECTED PRICE

$2,220

PROJECTED RENT

0.58%

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$1.2M

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$106,424

INVESTMENT

$106,424

Down Payment
$94,975
Rehab Estimate
$5,750
Closing Costs
$5,699

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$1,320

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $94,975
Loan Amount $284,925
See What Happens When You Reinvest Cash Flow

1.17

YEARS SAVED

$2,195

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,220

    LIST RENT
  • $0.94

    LIST RENT PER SQFT
  • $1,838

    COMP ESTIMATED VALUE
  • $0.78

    COMP AVG. RENT PER SQFT
Comps Range
$1,850
1$1,8502$1,8753$1,9004$1,9755$2,220
$2,220
RENT COMPS ANALYSIS
  • 2916 Bella Lago Drive Denton, TX 5
    • 3 beds 3 baths ∙ 2,356 Sqft ∙ Built 2013 3 beds 3 baths ∙ 2,356 Sqft ∙ Built 2013
    • Rent
    • Rent Per SQFT
    •  
    • $2,220
    • $0.94
    •  
  • 2500 Kariba Lane Denton, TX 1
    • 4 beds 2 baths ∙ 2,428 Sqft ∙ Built 1999 4 beds 2 baths ∙ 2,428 Sqft ∙ Built 1999
    LEASED 03/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.76
    •  
  • 2713 Pinto Drive Denton, TX 2
    • 3 beds 2 baths ∙ 2,272 Sqft ∙ Built 2004 3 beds 2 baths ∙ 2,272 Sqft ∙ Built 2004
    LEASED 08/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,875
    • $0.83
    •  
  • 2409 Clubhouse Drive Denton, TX 3
    • 4 beds 2 baths ∙ 2,541 Sqft ∙ Built 2005 4 beds 2 baths ∙ 2,541 Sqft ∙ Built 2005
    LEASED 05/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.75
    •  
  • 2720 Clubhouse Drive Denton, TX 4
    • 4 beds 3 baths ∙ 2,525 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,525 Sqft ∙ Built 2005
    LEASED 02/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,975
    • $0.78
    •  
PROPERTY LISTING DETAILS
Joseph Peterson
Briko Realty Services
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14496140
Last Updated: 01/15/2021
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