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2924 Desert Drive Denton, TX 76210

4 Beds 3 Baths 2,536 sqft Built 2006

$270,000

List Price

$1,860

$1.7K - $2K

Rent Est.

PROPERTY INFO

November 19, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2006
  • Price/Sqft : $106.47
  • 4 Days on Market
  • MLS # : 14473853
  • Updated Date : 11/22/2020 at 01:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,536 sqft
  • Baths : 2 full , 1 half
Listing Agent

Keller Williams Realty

Listing Agent's Description

Welcome home to this inviting four bedroom home. Primary bedroom downstairs with three bedrooms upstairs and game room or living room. Large kitchen, and the perfect layout make this home #Goals.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • # 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)

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
 

$243,000$297,000$270,000

PURCHASE PRICE

$1,674$2,046$1,860

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,860
EXPENSES Loan Payment -$996
Property Tax -$537
Property Insurance -$174
HOA -$38
Property Management Fees -$99
CASH FLOW
$16

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.

$270,000

PROJECTED PRICE

$1,860

PROJECTED RENT

0.69%

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

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$77,300

INVESTMENT

$77,300

Down Payment
$67,500
Rehab Estimate
$5,750
Closing Costs
$4,050

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$996

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $67,500
Loan Amount $202,500
See What Happens When You Reinvest Cash Flow

4.67

YEARS SAVED

$15,561

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,860

    LIST RENT
  • $0.73

    LIST RENT PER SQFT
  • $2,003

    COMP ESTIMATED VALUE
  • $0.79

    COMP AVG. RENT PER SQFT
Comps Range
$1,795
1$1,7952$1,8603$1,9004$2,0005$2,200
$2,200
RENT COMPS ANALYSIS
  • 2924 Desert Drive Denton, TX 2
    • 4 beds 3 baths ∙ 2,536 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,536 Sqft ∙ Built 2006
    • Rent
    • Rent Per SQFT
    •  
    • $1,860
    • $0.73
    •  
  • 2800 Desert Drive Denton, TX 1
    • 3 beds 3 baths ∙ 2,318 Sqft ∙ Built 2006 3 beds 3 baths ∙ 2,318 Sqft ∙ Built 2006
    LEASED 03/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.77
    •  
  • 2801 Saddle Drive Denton, TX 3
    • 4 beds 3 baths ∙ 2,570 Sqft ∙ Built 2008 4 beds 3 baths ∙ 2,570 Sqft ∙ Built 2008
    LEASED 09/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.74
    •  
  • 8113 Montecito Drive Denton, TX 4
    • 4 beds 3 baths ∙ 2,609 Sqft ∙ Built 2001 4 beds 3 baths ∙ 2,609 Sqft ∙ Built 2001
    LEASED 04/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.77
    •  
  • 6633 Alderbrook Drive Denton, TX 5
    • 5 beds 4 baths ∙ 2,495 Sqft ∙ Built 2001 5 beds 4 baths ∙ 2,495 Sqft ∙ Built 2001
    LEASED 06/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.88
    •  
PROPERTY LISTING DETAILS
Carissa Acker
Keller Williams Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14473853
Last Updated: 11/22/2020
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