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3820 Drexel Drive Denton, TX 76210

3 Beds 2 Baths 1,983 sqft Built 2005

$272,500

List Price

$1,740

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

November 07, 2020 RECENTLY ADDED
FACTS
  • Built In 2005
  • Price/Sqft : $137.42
  • 3 Days on Market
  • MLS # : 14466895
  • Updated Date : 11/07/2020 at 10:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,983 sqft
  • Baths : 2 full
Listing Agent

Fathom Realty, Llc

Listing Agent's Description

Very Well kept Home by an Owner with a Flair for Decorating. Tile Floors leading from Foyer to Family Room that has warm Wood Floors, then you can look out to Backyard with large Trees and lots of Shade. Very large open Patio for entertaining and relaxing. Split Bedrooms with warm natural colors accented throughout. Large Formal Living Room can be divided into Formal Dining if needed. Well designed Kitchen with Island and wrap around Eating Bar with Gas Cooking Range and Electric Oven. Eating Area is open to Kitchen and Family Room for that open comfortable feeling. This home has been very well maintained and is a joy to see.

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

Neighborhood: Robinson Oaks

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340kPrice in $115k357k

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

Neighborhood: Robinson Oaks

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000120014001600180020002200Rent in $8702395

* 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
Carroll Mcmath Middle School Middle Regular 741 55 6
Denton High School High Regular 2,166 140 6

L.a. Nelson Elementary School

  • Education Level: Primary
  • # of students: 655
  • # of teachers: 43
7
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
 

$245,250$299,750$272,500

PURCHASE PRICE

$1,566$1,914$1,740

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,740
EXPENSES Loan Payment -$1,005
Property Tax -$542
Property Insurance -$142
HOA -$40
Property Management Fees -$99
CASH FLOW
-$88

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.

$272,500

PROJECTED PRICE

$1,740

PROJECTED RENT

0.64%

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$100k$200k$300k$400k$500k$600k$700k$800k$900k

PROJECTED ANNUAL CASH FLOW

11530-$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$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$77,963

INVESTMENT

$77,963

Down Payment
$68,125
Rehab Estimate
$5,750
Closing Costs
$4,088

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,005

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $68,125
Loan Amount $204,375
See What Happens When You Reinvest Cash Flow

3.17

YEARS SAVED

$8,267

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,740

    LIST RENT
  • $0.88

    LIST RENT PER SQFT
  • $1,760

    COMP ESTIMATED VALUE
  • $0.89

    COMP AVG. RENT PER SQFT
Comps Range
$1,595
1$1,5952$1,6953$1,7404$1,7995$1,870
$1,870
RENT COMPS ANALYSIS
  • 3820 Drexel Drive Denton, TX 3
    • 3 beds 2 baths ∙ 1,983 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,983 Sqft ∙ Built 2005
    • Rent
    • Rent Per SQFT
    •  
    • $1,740
    • $0.88
    •  
  • 3310 Andalusian Drive Denton, TX 1
    • 3 beds 2 baths ∙ 1,868 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,868 Sqft ∙ Built 2004
    LEASED 11/11/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.85
    •  
  • 3853 Kirby Drive Denton, TX 2
    • 3 beds 2 baths ∙ 1,965 Sqft ∙ Built 1999 3 beds 2 baths ∙ 1,965 Sqft ∙ Built 1999
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.86
    •  
  • 3422 Lipizzan Drive Denton, TX 4
    • 4 beds 2 baths ∙ 2,086 Sqft ∙ Built 2003 4 beds 2 baths ∙ 2,086 Sqft ∙ Built 2003
    LEASED 10/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,799
    • $0.86
    •  
  • 3795 Centenary Drive Denton, TX 5
    • 4 beds 2 baths ∙ 1,905 Sqft ∙ Built 2002 4 beds 2 baths ∙ 1,905 Sqft ∙ Built 2002
    LEASED 03/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,870
    • $0.98
    •  
PROPERTY LISTING DETAILS
Sammie Shield
Fathom Realty, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14466895
Last Updated: 11/07/2020
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