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3713 Monte Verde Way Denton, TX 76208

3 Beds 2 Baths 1,932 sqft Built 2017

$280,000

List Price

$1,910

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

December 26, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2017
  • Price/Sqft : $144.93
  • 2 Days on Market
  • MLS # : 14489520
  • Updated Date : 12/25/2020 at 23:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,932 sqft
  • Baths : 2 full
Listing Agent

Hip Realty Group

Listing Agent's Description

Better than new, modern home with upgrades throughout! Oversized entry with gorgeous chandelier welcomes you. The heart of this open floorplan features an island kitchen with subway tile backsplash, breakfast bar, stainless appliances, black sink and faucet and 18 inch tile, (in all traffic areas in the home)! This home has a highly coveted office with glass French doors. The master suite offers a separate tub and shower with dual vanities and a walk-in closet. This home has great curb appeal with a brick and stone elevation, a sprinkler system, a covered back patio and full gutters. Interior smart features include an alarm system, programmable thermostats and locks! Do not miss this darling home!

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

Zip Code: 76208

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260kPrice in $115k276k

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

Zip Code: 76208

ZipNIR Market*CityMarket2010Year20002019 Q29001000110012001300140015001600170018001900Rent in $8701937

* 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
Pecan Creek Elementary School Primary Regular 693 48 7
Bettye Myers Middle School Middle Unknown 828 54 NA
Billy Ryan High School High Regular 2,409 170 5

Pecan Creek Elementary School

  • Education Level: Primary
  • # of students: 693
  • # of teachers: 48
7
GreatSchools Rating

Bettye Myers Middle School

  • Education Level: Middle
  • # of students: 828
  • # of teachers: 54
NA
GreatSchools Rating

Billy Ryan High School

  • Education Level: High
  • # of students: 2,409
  • # of teachers: 170
5
GreatSchools Rating
 

$252,000$308,000$280,000

PURCHASE PRICE

$1,719$2,101$1,910

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,910
EXPENSES Loan Payment -$1,033
Property Tax -$557
Property Insurance -$139
HOA -$20
Property Management Fees -$99
CASH FLOW
$62

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.

$280,000

PROJECTED PRICE

$1,910

PROJECTED RENT

0.68%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 7.8%
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$100k$200k$300k$400k$500k$600k$700k$800k$900k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$79,950

INVESTMENT

$79,950

Down Payment
$70,000
Rehab Estimate
$5,750
Closing Costs
$4,200

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,033

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $70,000
Loan Amount $210,000
See What Happens When You Reinvest Cash Flow

5.67

YEARS SAVED

$21,073

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,910

    LIST RENT
  • $0.99

    LIST RENT PER SQFT
  • $1,913

    COMP ESTIMATED VALUE
  • $0.99

    COMP AVG. RENT PER SQFT
Comps Range
$1,695
1$1,6952$1,7003$1,7504$1,9105$2,000
$2,000
RENT COMPS ANALYSIS
  • 3713 Monte Verde Way Denton, TX 4
    • 3 beds 2 baths ∙ 1,932 Sqft ∙ Built 2017 3 beds 2 baths ∙ 1,932 Sqft ∙ Built 2017
    • Rent
    • Rent Per SQFT
    •  
    • $1,910
    • $0.99
    •  
  • 3712 San Lucas Lane Denton, TX 1
    • 3 beds 3 baths ∙ 1,812 Sqft ∙ Built 2008 3 beds 3 baths ∙ 1,812 Sqft ∙ Built 2008
    LEASED 03/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.94
    •  
  • 3604 Monte Verde Way Denton, TX 2
    • 3 beds 3 baths ∙ 1,812 Sqft ∙ Built 2009 3 beds 3 baths ∙ 1,812 Sqft ∙ Built 2009
    LEASED 07/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.94
    •  
  • 5817 Glenwood Drive Denton, TX 3
    • 3 beds 2 baths ∙ 1,809 Sqft ∙ Built 2015 3 beds 2 baths ∙ 1,809 Sqft ∙ Built 2015
    LEASED 12/28/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.97
    •  
  • 3800 Juniperio Street Denton, TX 5
    • 3 beds 2 baths ∙ 1,797 Sqft ∙ Built 2017 3 beds 2 baths ∙ 1,797 Sqft ∙ Built 2017
    LEASED 06/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $1.11
    •  
PROPERTY LISTING DETAILS
Amy Holmes
Hip Realty Group
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14489520
Last Updated: 12/25/2020
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