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2925 Paddock Way Denton, TX 76210

3 Beds 2 Baths 1,860 sqft Built 2006

$249,900

List Price

$1,660

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

October 30, 2020 RECENTLY ADDED
FACTS
  • Built In 2006
  • Price/Sqft : $134.35
  • 5 Days on Market
  • MLS # : 14463037
  • Updated Date : 11/01/2020 at 11:05
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,860 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Realty

Listing Agent's Description

***Multiple offers received! Please submit highest and best to amber@teamtiller.com by 5pm on Sunday 11.1.20***. BEAUTIFUL 3 bedroom, 2 bathroom home on corner lot in desirable South Denton neighborhood. Stunning manufactured hardwood flooring throughout home and tile in kitchen and bathrooms. Large living room opens to bright kitchen with granite counters and decorative lighting. No vinyl siding, replaced with hardy board, new gutters, granite in kitchen, two sides of fence replaced all in 2017. Deck being re-stained 10.30.20. **Showings start Saturday morning 10.31.20**

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
 

$224,910$274,890$249,900

PURCHASE PRICE

$1,494$1,826$1,660

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,660
EXPENSES Loan Payment -$922
Property Tax -$497
Property Insurance -$135
HOA -$38
Property Management Fees -$99
CASH FLOW
-$31

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.

$249,900

PROJECTED PRICE

$1,660

PROJECTED RENT

0.66%

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$100k$200k$300k$400k$500k$600k$700k$800k$900k

PROJECTED ANNUAL CASH FLOW

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$71,974

INVESTMENT

$71,974

Down Payment
$62,475
Rehab Estimate
$5,750
Closing Costs
$3,749

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$922

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $62,475
Loan Amount $187,425
See What Happens When You Reinvest Cash Flow

4

YEARS SAVED

$11,076

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,660

    LIST RENT
  • $0.89

    LIST RENT PER SQFT
  • $1,772

    COMP ESTIMATED VALUE
  • $0.95

    COMP AVG. RENT PER SQFT
Comps Range
$1,650
1$1,6502$1,6603$1,7254$1,7505$1,800
$1,800
RENT COMPS ANALYSIS
  • 2925 Paddock Way Denton, TX 2
    • 3 beds 2 baths ∙ 1,860 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,860 Sqft ∙ Built 2006
    • Rent
    • Rent Per SQFT
    •  
    • $1,660
    • $0.89
    •  
  • 3222 Andalusian Drive Denton, TX 1
    • 3 beds 2 baths ∙ 1,701 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,701 Sqft ∙ Built 2004
    LEASED 09/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.97
    •  
  • 5714 Green Ivy Road Denton, TX 3
    • 3 beds 2 baths ∙ 1,860 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,860 Sqft ∙ Built 2006
    LEASED 09/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,725
    • $0.93
    •  
  • 3227 Andalusian Drive Denton, TX 4
    • 3 beds 2 baths ∙ 1,860 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,860 Sqft ∙ Built 2004
    LEASED 12/18/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.94
    •  
  • 2921 Desert Drive Denton, TX 5
    • 3 beds 2 baths ∙ 1,860 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,860 Sqft ∙ Built 2006
    LEASED 12/02/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.97
    •  
PROPERTY LISTING DETAILS
Michael Tiller
Keller Williams Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14463037
Last Updated: 11/01/2020
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