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3009 Montebello Drive Denton, TX 76210

4 Beds 3 Baths 2,350 sqft Built 2013

$410,900

List Price

$2,300

$2.1K - $2.5K

Rent Est.

PROPERTY INFO

January 31, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2013
  • Price/Sqft : $174.85
  • 1 Days on Market
  • MLS # : 14509462
  • Updated Date : 01/30/2021 at 21:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,350 sqft
  • Baths : 3 full
Listing Agent

Exit Realty No Limits

Listing Agent's Description

Beautiful Mediterranean inspired home in the gated community of Tuscan Hills. The Spanish tile roof compliments the stone & brick exterior creating a true classic Tuscan feel. This home offers: oversized master with extra space for sitting, plantation shutters, hand scraped hardwoods, granite countertops, extra storage in garage. The open kitchen offers SS appliances including refrigerator. Family room is open with a wonderful floor to ceiling stone fireplace. The Tuscan Hills neighborhood also includes community center with pool, fitness center, front & backyard maintenance, and greenbelt. Right outside the gate is Unicorn Lake with a nice walking trail.

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
 

$369,810$451,990$410,900

PURCHASE PRICE

$2,070$2,530$2,300

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,300
EXPENSES Loan Payment -$1,427
Property Tax -$817
Property Insurance -$163
HOA -$150
Property Management Fees -$99
CASH FLOW
-$356

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.

$410,900

PROJECTED PRICE

$2,300

PROJECTED RENT

0.56%

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-$10k-$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$114,639

INVESTMENT

$114,639

Down Payment
$102,725
Rehab Estimate
$5,750
Closing Costs
$6,164

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,427

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $102,725
Loan Amount $308,175
See What Happens When You Reinvest Cash Flow

0.67

YEARS SAVED

$1,076

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,300

    LIST RENT
  • $0.98

    LIST RENT PER SQFT
  • $1,857

    COMP ESTIMATED VALUE
  • $0.79

    COMP AVG. RENT PER SQFT
Comps Range
$1,875
1$1,8752$1,9003$1,9754$1,9955$2,300
$2,300
RENT COMPS ANALYSIS
  • 3009 Montebello Drive Denton, TX 5
    • 4 beds 3 baths ∙ 2,350 Sqft ∙ Built 2013 4 beds 3 baths ∙ 2,350 Sqft ∙ Built 2013
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.98
    •  
  • 2713 Pinto Drive Denton, TX 1
    • 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 2
    • 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 3
    • 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
    •  
  • 2805 Crater Lake Lane Denton, TX 4
    • 5 beds 4 baths ∙ 2,495 Sqft ∙ Built 1999 5 beds 4 baths ∙ 2,495 Sqft ∙ Built 1999
    LEASED 10/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.80
    •  
PROPERTY LISTING DETAILS
Erin Fly
Exit Realty No Limits
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14509462
Last Updated: 01/30/2021
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