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3628 Cody Lane Denton, TX 76207

4 Beds 2 Baths 1,844 sqft Built 2019

$273,990

List Price

$1,880

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

January 02, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2019
  • Price/Sqft : $148.58
  • 2 Days on Market
  • MLS # : 14492751
  • Updated Date : 01/02/2021 at 18:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,844 sqft
  • Baths : 2 full
Listing Agent

Mi Real Estate Cloud D/b/a Cloud Realty

Listing Agent's Description

4 bedroom 2 bath 2 car garage home on large corner lot in Evers Way Subdivision. Built in 2019, this house shows like new. This brick home has beautiful stone accents, Nice yard with wood plank Fence. Open Kitchen concept, Stainless Steel Appliances, Lg Island with Living and Dining areas. Lots of Natural Light Shining in this home. Master bedroom has large shower, Walk in Closet, and Linen area. Split bedrooms, separate utility room, and a 4th bedroom that could be used as an office or extra tv room. Great location and close to shopping, Restaurants, I-35 access and Loop 288.

SEE MORE

MARKET HIGHLIGHTS

  • # 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)
  • . Dallas has 7th largest concentration of high-tech jobs in the U.S. (Dallas Chamber)

PRICE & RENT TRENDS

Zip Code: 76207

ZipNIR Market*CityMarket2010Year20002019120k130k140k150k160k170k180k190k200k210k220k230k240k250k260kPrice in $115k261k

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

Zip Code: 76207

ZipNIR Market*CityMarket2010Year20002019 Q29001000110012001300140015001600170018001900Rent in $8701907

* 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
 

$246,591$301,389$273,990

PURCHASE PRICE

$1,692$2,068$1,880

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,880
EXPENSES Loan Payment -$1,011
Property Tax -$545
Property Insurance -$134
HOA -$13
Property Management Fees -$99
CASH FLOW
$78

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.

$273,990

PROJECTED PRICE

$1,880

PROJECTED RENT

0.69%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 8.6%
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

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

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$78,357

INVESTMENT

$78,357

Down Payment
$68,498
Rehab Estimate
$5,750
Closing Costs
$4,110

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,011

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $68,498
Loan Amount $205,493
See What Happens When You Reinvest Cash Flow

6.08

YEARS SAVED

$22,410

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,880

    LIST RENT
  • $1.02

    LIST RENT PER SQFT
  • $1,858

    COMP ESTIMATED VALUE
  • $1.01

    COMP AVG. RENT PER SQFT
Comps Range
$1,795
1$1,7952$1,8003$1,8804$1,9005$2,000
$2,000
RENT COMPS ANALYSIS
  • 3628 Cody Lane Denton, TX 3
    • 4 beds 2 baths ∙ 1,844 Sqft ∙ Built 2019 4 beds 2 baths ∙ 1,844 Sqft ∙ Built 2019
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,880
    • $1.02
    •  
  • 201 Mckamy Boulevard Denton, TX 1
    • 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
    •  
  • 205 Samuel Street Denton, TX 2
    • 4 beds 2 baths ∙ 1,777 Sqft ∙ Built 2020 4 beds 2 baths ∙ 1,777 Sqft ∙ Built 2020
    property image
    LEASED 11/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $1.01
    •  
  • 412 Wilson Way Denton, TX 4
    • 4 beds 2 baths ∙ 1,909 Sqft ∙ Built 2019 4 beds 2 baths ∙ 1,909 Sqft ∙ Built 2019
    property image
    LEASED 03/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $1.00
    •  
  • 204 Evers Way Denton, TX 5
    • 4 beds 2 baths ∙ 1,900 Sqft ∙ Built 2019 4 beds 2 baths ∙ 1,900 Sqft ∙ Built 2019
    property image
    LEASED 12/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $1.05
    •  
PROPERTY LISTING DETAILS
Shannon Piper
Mi Real Estate Cloud D/b/a Cloud Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14492751
Last Updated: 01/02/2021
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