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304 Matthew Avenue Denton, TX 76210

4 Beds 4 Baths 3,965 sqft Built 2007

$650,000

List Price

$2,900

$2.7K - $3.2K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 14, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2007
  • Price/Sqft : $163.93
  • 1 Days on Market
  • MLS # : 14521767
  • Updated Date : 03/13/2021 at 15:59
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,965 sqft
  • Baths : 3 full , 1 half
Listing Agent

Carrico & Associates

Listing Agent's Description

Immaculate, custom home in the much coveted Thistle Hill Estates. Shows like a model. Open floor plan, handscraped hardwoods, designer colors, crown molding throughout. Spacious master bedroom downstairs. Master bath with his & her sinks, jacuzzi tub, separate shower, huge walk in closet. Kitchen open to breakfast & large living--ideal for entertaining. Upstairs spaces include 3 bedrooms 2 bathrooms, an office, media room, plus 2nd living or gameroom and a balcony. Kitchen has granite counter tops, tile backsplash, large pantry, stainless appliances. Beautiful custom-covered patio, sparkling swimming pool with hot tub, fire pit, board-on-board privacy fence, and outdoor kitchen with grill and mini-refrigerator

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: Thistle Hill Estates

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $115k375k

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

Neighborhood: Thistle Hill Estates

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001200140016001800200022002400Rent in $8702518

* 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
W.s. Ryan Elementary School Primary Regular 588 44 6
Crownover Middle School Middle Regular 938 59 8
John H. Guyer High School High Regular 2,395 162 8

W.s. Ryan Elementary School

  • Education Level: Primary
  • # of students: 588
  • # of teachers: 44
6
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
 

$585,000$715,000$650,000

PURCHASE PRICE

$2,610$3,190$2,900

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,900
EXPENSES Loan Payment -$2,258
Property Tax -$1,292
Property Insurance -$256
HOA -$13
Property Management Fees -$99
CASH FLOW
-$1,018

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.

$650,000

PROJECTED PRICE

$2,900

PROJECTED RENT

0.45%

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$500k$1.0M$1.5M$2.0M

PROJECTED ANNUAL CASH FLOW

11530-$20k-$15k-$10k-$5.0k$0.0

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$178,000

INVESTMENT

$178,000

Down Payment
$162,500
Rehab Estimate
$5,750
Closing Costs
$9,750

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 80% down payment or higher enables the proceeds from the asset to cover all costs.

$2,258

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $162,500
Loan Amount $487,500
See What Happens When You Reinvest Cash Flow

-0.08

YEARS SAVED

-$4

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,900

    LIST RENT
  • $0.73

    LIST RENT PER SQFT
  • $2,657

    COMP ESTIMATED VALUE
  • $0.67

    COMP AVG. RENT PER SQFT
Comps Range
$2,500
1$2,5002$2,900
$2,900
RENT COMPS ANALYSIS
  • 304 Matthew Avenue Denton, TX 2
    • 4 beds 4 baths ∙ 3,965 Sqft ∙ Built 2007 4 beds 4 baths ∙ 3,965 Sqft ∙ Built 2007
    • Rent
    • Rent Per SQFT
    •  
    • $2,900
    • $0.73
    •  
  • 3327 Andalusian Drive Denton, TX 1
    • 5 beds 4 baths ∙ 3,759 Sqft ∙ Built 2004 5 beds 4 baths ∙ 3,759 Sqft ∙ Built 2004
    LEASED 06/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.67
    •  
PROPERTY LISTING DETAILS
Marla Carrico
Carrico & Associates
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14521767
Last Updated: 03/13/2021
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