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3301 Sombrero Drive Denton, TX 76210

4 Beds 3 Baths 2,685 sqft Built 2013

$320,000

List Price

$2,340

$2.1K - $2.6K

Rent Est.

PROPERTY INFO

December 04, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2013
  • Price/Sqft : $119.18
  • 3 Days on Market
  • MLS # : 14480517
  • Updated Date : 12/05/2020 at 16:46
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,685 sqft
  • Baths : 2 full , 1 half
Listing Agent

Keller Williams Realty-fm

Listing Agent's Description

MULTIPLE OFFERS! SEND HIGHEST AND BEST BY END OF DAY SUNDAY, DEC 6. WOW! Immaculate home in sought after neighborhood sits on oversized corner lot. Fresh paint in every room...walls, ceilings, trim, doors, kitchen cabinets, bathroom cabinets. Newly installed carpet throughout as well as newly installed luxury vinyl floors in living and dining. Light and bright!! Open Kitchen and Living with cozy fireplace and wall of windows overlooking backyard. Beautiful kitchen boasts white cabinets, granite counters, SS appliances and loads of counter space. Retreat into the spacious master, double sinks, separate shower and garden tub...plenty of closet space. Entertain upstairs in Media and Gameroom. 3 Bedrooms Up!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • . 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)

PRICE & RENT TRENDS

Neighborhood: Sundown Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280kPrice in $115k283k

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

Neighborhood: Sundown Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019 Q290010001100120013001400150016001700180019002000Rent in $8702021

* 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
Houston Elementary School Primary Regular 583 43 6
Carroll Mcmath Middle School Middle Regular 741 55 6
Denton High School High Regular 2,166 140 6

Houston Elementary School

  • Education Level: Primary
  • # of students: 583
  • # of teachers: 43
6
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
 

$288,000$352,000$320,000

PURCHASE PRICE

$2,106$2,574$2,340

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,340
EXPENSES Loan Payment -$1,181
Property Tax -$657
Property Insurance -$182
HOA -$52
Property Management Fees -$99
CASH FLOW
$169

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 14% of earned rent to cover both maintenance and periods of vacancy.

$320,000

PROJECTED PRICE

$2,340

PROJECTED RENT

0.73%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 8.9%
Maintenance Year (1-5) 8.00%
Vacancy 6.39%
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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$90,550

INVESTMENT

$90,550

Down Payment
$80,000
Rehab Estimate
$5,750
Closing Costs
$4,800

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,181

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $80,000
Loan Amount $240,000
See What Happens When You Reinvest Cash Flow

7.25

YEARS SAVED

$33,090

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,340

    LIST RENT
  • $0.87

    LIST RENT PER SQFT
  • $2,094

    COMP ESTIMATED VALUE
  • $0.78

    COMP AVG. RENT PER SQFT
Comps Range
$1,900
1$1,9002$1,9753$1,9954$2,1755$2,340
$2,340
RENT COMPS ANALYSIS
  • 3301 Sombrero Drive Denton, TX 5
    • 4 beds 3 baths ∙ 2,685 Sqft ∙ Built 2013 4 beds 3 baths ∙ 2,685 Sqft ∙ Built 2013
    • Rent
    • Rent Per SQFT
    •  
    • $2,340
    • $0.87
    •  
  • 2409 Clubhouse Drive Denton, TX 1
    • 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 2
    • 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 3
    • 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
    •  
  • 2800 Clubhouse Drive Denton, TX 4
    • 4 beds 3 baths ∙ 2,738 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,738 Sqft ∙ Built 2006
    LEASED 06/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,175
    • $0.79
    •  
PROPERTY LISTING DETAILS
Lois M Lyles
Keller Williams Realty-fm
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14480517
Last Updated: 12/05/2020
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