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3517 Meadowtrail Lane Denton, TX 76207

3 Beds 2 Baths 1,920 sqft Built 2017

$294,000

List Price

$1,640

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

November 13, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2017
  • Price/Sqft : $153.13
  • 3 Days on Market
  • MLS # : 14470688
  • Updated Date : 11/12/2020 at 23:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,920 sqft
  • Baths : 2 full
Listing Agent

House & Home Real Estate, Llc

Listing Agent's Description

WYNDHAM CUSTOM HOME! 1-STORY! NORTH DENTON! BUILT 2017! VERY POPULAR HALCOTT FLOOR PLAN! TRUCK FITS IN GARAGE! MOVE IN READY! Meticulously maintained home by original homeowner. Open floor plan w. HICKORY WOOD FLOORS in Entry, Kitchen, Breakfast, Family, Study, Halls. Rich, warm Kitchen w. 42 inch custom cabinets, paint grade and knotty alder, exotic GRANITE, w. splitface tumbled stone backsplash. Spacious FAMILY ROOM across from large, open STUDY separated by WIDE ARCHES. Secondary bedrooms split from Master Suite. Master Bath w. knotty alder custom cabs, long vanity, huge mirror, linen closet. ENERGY EFFICIENT HOME FEATURES TechShield, Zip Board Systems, Carrier AC Unit. Minutes to new DHS campus.

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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: Northpointe

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240kPrice in $88k247k

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

Neighborhood: Northpointe

NeighborhoodNIR Market*CityMarket2010Year20002019 Q290010001100120013001400150016001700Rent in $8041769

* 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
Evers Park Elementary School Primary Regular 546 44 5
Calhoun Middle School Middle Regular 684 54 4
Denton High School High Regular 2,166 140 6

Evers Park Elementary School

  • Education Level: Primary
  • # of students: 546
  • # of teachers: 44
5
GreatSchools Rating

Calhoun Middle School

  • Education Level: Middle
  • # of students: 684
  • # of teachers: 54
4
GreatSchools Rating

Denton High School

  • Education Level: High
  • # of students: 2,166
  • # of teachers: 140
6
GreatSchools Rating
 

$264,600$323,400$294,000

PURCHASE PRICE

$1,476$1,804$1,640

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,640
EXPENSES Loan Payment -$1,085
Property Tax -$585
Property Insurance -$138
Property Management Fees -$99
CASH FLOW
-$266

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.

$294,000

PROJECTED PRICE

$1,640

PROJECTED RENT

0.56%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.74%
Appreciation Year (1-5) 7.1%
Maintenance Year (1-5) 8.00%
Vacancy 6.69%
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

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$83,660

INVESTMENT

$83,660

Down Payment
$73,500
Rehab Estimate
$5,750
Closing Costs
$4,410

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,085

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $73,500
Loan Amount $220,500
See What Happens When You Reinvest Cash Flow

0.83

YEARS SAVED

$1,285

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,640

    LIST RENT
  • $0.85

    LIST RENT PER SQFT
  • $1,723

    COMP ESTIMATED VALUE
  • $0.9

    COMP AVG. RENT PER SQFT
Comps Range
$1,600
1$1,6002$1,6403$1,6504$1,7955$1,795
$1,795
RENT COMPS ANALYSIS
  • 3517 Meadowtrail Lane Denton, TX 2
    • 3 beds 2 baths ∙ 1,920 Sqft ∙ Built 2017 3 beds 2 baths ∙ 1,920 Sqft ∙ Built 2017
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,640
    • $0.85
    •  
  • 320 Mckamy Boulevard Denton, TX 1
    • 3 beds 2 baths ∙ 1,849 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,849 Sqft ∙ Built 2005
    property image
    LEASED 07/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.87
    •  
  • 320 Tripp Trail Denton, TX 3
    • 3 beds 2 baths ∙ 1,859 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,859 Sqft ∙ Built 2004
    property image
    LEASED 05/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.89
    •  
  • 313 Mckamy Boulevard Denton, TX 4
    • 3 beds 2 baths ∙ 2,087 Sqft ∙ Built 2011 3 beds 2 baths ∙ 2,087 Sqft ∙ Built 2011
    property image
    LEASED 06/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.86
    •  
  • 201 Mckamy Boulevard Denton, TX 5
    • 3 beds 2 baths ∙ 1,849 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,849 Sqft ∙ Built 2004
    property image
    LEASED 07/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.97
    •  
PROPERTY LISTING DETAILS
Kathryn Corey
House & Home Real Estate, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14470688
Last Updated: 11/12/2020
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