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3845 Chimney Rock Drive Denton, TX 76210

3 Beds 2 Baths 1,965 sqft Built 2000

$259,900

List Price

$1,800

$1.6K - $2K

Rent Est.

PROPERTY INFO

December 03, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2000
  • Price/Sqft : $132.26
  • 4 Days on Market
  • MLS # : 14479965
  • Updated Date : 12/05/2020 at 18:01
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,965 sqft
  • Baths : 2 full
Listing Agent

Brian Holt Realty

Listing Agent's Description

Wonderful Well Kept house with Open floor plan, wood flooring, lots of natural light. Cozy Fireplace. Split bedrooms. Updated lighting. Master has his-hers closets and Bath has garden tub, separate shower and water closet. Tiled wet areas. Office off entry has French doors. Plantation shutters in front windows. Eat in Kitchen with breakfast bar. Large treed backyard. Solar Screens. Sprinkler system, Gutters with leaf guards. Insulated Garage door and extended life spring installed 2017. Roof replaced 2017. HOA includes pool, playground.

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: Summit Oaks

NeighborhoodNIR Market*CityMarket2010Year20002019120k130k140k150k160k170k180k190k200k210k220k230k240kPrice in $115k248k

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

Neighborhood: Summit Oaks

NeighborhoodNIR Market*CityMarket2010Year20002019 Q290010001100120013001400150016001700Rent in $8431769

* 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
 

$233,910$285,890$259,900

PURCHASE PRICE

$1,620$1,980$1,800

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,800
EXPENSES Loan Payment -$959
Property Tax -$517
Property Insurance -$141
HOA -$29
Property Management Fees -$99
CASH FLOW
$55

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.

$259,900

PROJECTED PRICE

$1,800

PROJECTED RENT

0.69%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 6.8%
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-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$74,624

INVESTMENT

$74,624

Down Payment
$64,975
Rehab Estimate
$5,750
Closing Costs
$3,899

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$959

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $64,975
Loan Amount $194,925
See What Happens When You Reinvest Cash Flow

5.58

YEARS SAVED

$19,064

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,800

    LIST RENT
  • $0.92

    LIST RENT PER SQFT
  • $1,793

    COMP ESTIMATED VALUE
  • $0.91

    COMP AVG. RENT PER SQFT
Comps Range
$1,695
1$1,6952$1,6953$1,7004$1,8005$1,950
$1,950
RENT COMPS ANALYSIS
  • 3845 Chimney Rock Drive Denton, TX 4
    • 3 beds 2 baths ∙ 1,965 Sqft ∙ Built 2000 3 beds 2 baths ∙ 1,965 Sqft ∙ Built 2000
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.92
    •  
  • 3853 Kirby Drive Denton, TX 1
    • 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
    •  
  • 2409 Westheimer Road Denton, TX 2
    • 3 beds 2 baths ∙ 1,869 Sqft ∙ Built 1999 3 beds 2 baths ∙ 1,869 Sqft ∙ Built 1999
    LEASED 03/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.91
    •  
  • 2613 Weslayan Drive Denton, TX 3
    • 3 beds 2 baths ∙ 1,908 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,908 Sqft ∙ Built 2003
    LEASED 06/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.89
    •  
  • 3912 Chimney Rock Drive Denton, TX 5
    • 3 beds 2 baths ∙ 1,965 Sqft ∙ Built 2000 3 beds 2 baths ∙ 1,965 Sqft ∙ Built 2000
    LEASED 10/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.99
    •  
PROPERTY LISTING DETAILS
Brian Holt
Brian Holt Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14479965
Last Updated: 12/05/2020
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