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3500 Ocean Drive Denton, TX 76210

4 Beds 2 Baths 2,488 sqft Built 2005

$296,900

List Price

$1,850

$1.7K - $2K

Rent Est.

PROPERTY INFO

December 05, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2005
  • Price/Sqft : $119.33
  • 2 Days on Market
  • MLS # : 14481860
  • Updated Date : 12/05/2020 at 12:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,488 sqft
  • Baths : 2 full
Listing Agent

Real T Team

Listing Agent's Description

This beautiful one story home features 4 bedrooms and a study, in a great location with lots of privacy located next to and in front of the community greenbelt with easy access to FM 2499 and FM 2181. Recent AC, 2019 roof replaced, new carpet, fresh paint, this home has been well maintained and is move-in ready. Enjoy the large fenced backyard, open floor plan, fireplace, and much more.

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: Teasley Harbor

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $115k336k

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

Neighborhood: Teasley Harbor

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2900100011001200130014001500160017001800190020002100Rent in $8702171

* 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
 

$267,210$326,590$296,900

PURCHASE PRICE

$1,665$2,035$1,850

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,850
EXPENSES Loan Payment -$1,095
Property Tax -$590
Property Insurance -$171
HOA -$33
Property Management Fees -$99
CASH FLOW
-$139

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.

$296,900

PROJECTED PRICE

$1,850

PROJECTED RENT

0.62%

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

PROJECTED ANNUAL CASH FLOW

11530-$6.0k-$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$200k$400k$600k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$84,429

INVESTMENT

$84,429

Down Payment
$74,225
Rehab Estimate
$5,750
Closing Costs
$4,454

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$1,095

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $74,225
Loan Amount $222,675
See What Happens When You Reinvest Cash Flow

2.33

YEARS SAVED

$6,151

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,850

    LIST RENT
  • $0.74

    LIST RENT PER SQFT
  • $2,003

    COMP ESTIMATED VALUE
  • $0.81

    COMP AVG. RENT PER SQFT
Comps Range
$1,795
1$1,7952$1,8503$1,9004$1,9255$2,200
$2,200
RENT COMPS ANALYSIS
  • 3500 Ocean Drive Denton, TX 2
    • 4 beds 2 baths ∙ 2,488 Sqft ∙ Built 2005 4 beds 2 baths ∙ 2,488 Sqft ∙ Built 2005
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.74
    •  
  • 2800 Desert Drive Denton, TX 1
    • 3 beds 3 baths ∙ 2,318 Sqft ∙ Built 2006 3 beds 3 baths ∙ 2,318 Sqft ∙ Built 2006
    LEASED 03/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.77
    •  
  • 2801 Saddle Drive Denton, TX 3
    • 4 beds 3 baths ∙ 2,570 Sqft ∙ Built 2008 4 beds 3 baths ∙ 2,570 Sqft ∙ Built 2008
    LEASED 09/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.74
    •  
  • 3202 Clydesdale Drive Denton, TX 4
    • 3 beds 3 baths ∙ 2,318 Sqft ∙ Built 2003 3 beds 3 baths ∙ 2,318 Sqft ∙ Built 2003
    LEASED 05/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,925
    • $0.83
    •  
  • 6633 Alderbrook Drive Denton, TX 5
    • 5 beds 4 baths ∙ 2,495 Sqft ∙ Built 2001 5 beds 4 baths ∙ 2,495 Sqft ∙ Built 2001
    LEASED 06/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.88
    •  
PROPERTY LISTING DETAILS
Curt Erwin, Jr
Real T Team
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14481860
Last Updated: 12/05/2020
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