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304 River Meadows Lane Argyle, TX 76226

3 Beds 3 Baths 2,706 sqft Built 2012

$395,990

List Price

$2,710

$2.5K - $3K

Rent Est.

PROPERTY INFO

November 15, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2012
  • Price/Sqft : $146.34
  • 1 Days on Market
  • MLS # : 14471705
  • Updated Date : 11/14/2020 at 23:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,706 sqft
  • Baths : 2 full , 1 half
Listing Agent

Century 21 Judge Fite Co.

Listing Agent's Description

This Beatuiful Model home is ready to be your new home! The plan features a large Great Room, Dining Room and Kitchen - great for entertaining. Good size Laundry Room with lots of storage throughout. Oversized Master Bedroom Retreat with Master Bath and walk-in closet. Upstairs you’ll find Bedrooms 2 and 3, Bath 2, and Game Room for hours of family fun. The large back patio opens up to a large back yard and the outdoor fireplace provides tranquility to relax and enjoy your time. This home is sure to impress with the amount of upgrades and location.

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: Country Lakes

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360k380k400kPrice in $123k417k

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

Neighborhood: Country Lakes

NeighborhoodNIR Market*CityMarket2010Year20002019 Q212001400160018002000220024002600Rent in $11262774

* 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
Argyle Intermediate School Primary Regular 295 17 8
Argyle Intermediate School Middle Regular 295 17 8
Argyle High School High Regular 711 50 8

Argyle Intermediate School

  • Education Level: Primary
  • # of students: 295
  • # of teachers: 17
8
GreatSchools Rating

Argyle Intermediate School

  • Education Level: Middle
  • # of students: 295
  • # of teachers: 17
8
GreatSchools Rating

Argyle High School

  • Education Level: High
  • # of students: 711
  • # of teachers: 50
8
GreatSchools Rating
 

$356,391$435,589$395,990

PURCHASE PRICE

$2,439$2,981$2,710

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,710
EXPENSES Loan Payment -$1,461
Property Tax -$787
Property Insurance -$184
HOA -$61
Property Management Fees -$99
CASH FLOW
$119

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.

$395,990

PROJECTED PRICE

$2,710

PROJECTED RENT

0.68%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 6.2%
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$1.2M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k

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$110,687

INVESTMENT

$110,687

Down Payment
$98,998
Rehab Estimate
$5,750
Closing Costs
$5,940

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,461

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $98,998
Loan Amount $296,993
See What Happens When You Reinvest Cash Flow

6.08

YEARS SAVED

$32,377

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,710

    LIST RENT
  • $1

    LIST RENT PER SQFT
  • $2,787

    COMP ESTIMATED VALUE
  • $1.03

    COMP AVG. RENT PER SQFT
Comps Range
$2,650
1$2,6502$2,6953$2,7104$2,9505$3,000
$3,000
RENT COMPS ANALYSIS
  • 304 River Meadows Lane Argyle, TX 3
    • 3 beds 3 baths ∙ 2,706 Sqft ∙ Built 2012 3 beds 3 baths ∙ 2,706 Sqft ∙ Built 2012
    • Rent
    • Rent Per SQFT
    •  
    • $2,710
    • $1.00
    •  
  • 9316 Benbrook Lane Denton, TX 1
    • 3 beds 3 baths ∙ 2,732 Sqft ∙ Built 2016 3 beds 3 baths ∙ 2,732 Sqft ∙ Built 2016
    LEASED 01/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,650
    • $0.97
    •  
  • 402 Collin Street Argyle, TX 2
    • 4 beds 3 baths ∙ 2,540 Sqft ∙ Built 2013 4 beds 3 baths ∙ 2,540 Sqft ∙ Built 2013
    LEASED 06/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,695
    • $1.06
    •  
  • 345 Creekside Trail Argyle, TX 4
    • 4 beds 3 baths ∙ 2,677 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,677 Sqft ∙ Built 2003
    LEASED 10/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,950
    • $1.10
    •  
  • 312 Creekside Trail Argyle, TX 5
    • 4 beds 3 baths ∙ 3,021 Sqft ∙ Built 2004 4 beds 3 baths ∙ 3,021 Sqft ∙ Built 2004
    LEASED 07/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $0.99
    •  
PROPERTY LISTING DETAILS
Curtis Abernathy
Century 21 Judge Fite Co.
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14471705
Last Updated: 11/14/2020
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