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3904 Oceanview Drive Denton, TX 76208

3 Beds 2 Baths 1,847 sqft Built 2008

INVESTimate

$243,000

List Price

$1,690

$1,521 - $1,859

Rent Est.

$265,866  ( +9.41%)   1 YR EST. FORECAST

PROPERTY INFO

August 25, 2020 RECENTLY ADDED
FACTS
  • Built In 2008
  • Price/Sqft : $131.56
  • 2 Days on Market
  • MLS # : 14419894
  • Updated Date : 08/25/2020 at 11:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,847 sqft
  • Baths : 2 full
Listing Agent

Keller Williams No. Collin Cty

Listing Agent's Description

WELCOME HOME!!! This 3 bedroom, 2 bath charming home is everything you have been looking for. Walk into your dining room, perfect for entertaining. Freshly painted bathroom with the perfect touches. Kitchen is the perfect space looking into a second dining area and living room. Come see this home today, it won't last!

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: Villages of Carmel

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $111k336k

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

Neighborhood: Villages of Carmel

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2900100011001200130014001500160017001800190020002100Rent in $8702171

* 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
 

$218,700$267,300$243,000

PURCHASE PRICE

$1,521$1,859$1,690

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,690
EXPENSES Loan Payment -$897
Property Tax -$483
Property Insurance -$134
HOA -$17
Property Management Fees -$99
CASH FLOW
$61

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.

$243,000

PROJECTED PRICE

$1,690

PROJECTED RENT

0.70%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 9.41%
Maintenance Year (1-5) 8.00%
Vacancy 6.93%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$70,145

INVESTMENT

$70,145

Down Payment
$60,750
Rehab Estimate
$5,750
Closing Costs
$3,645

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$897

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $60,750
Loan Amount $182,250
See What Happens When You Reinvest Cash Flow

5.67

YEARS SAVED

$18,703

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,690

    LIST RENT
  • $0.91

    LIST RENT PER SQFT
  • $1,755

    COMP ESTIMATED VALUE
  • $0.95

    COMP AVG. RENT PER SQFT
Comps Range
$1,690
1$1,6902$1,6953$1,7004$1,7505$1,900
$1,900
RENT COMPS ANALYSIS
  • 3904 Oceanview Drive Denton, TX 1
    • 3 beds 2 baths ∙ 1,847 Sqft ∙ Built 2008 3 beds 2 baths ∙ 1,847 Sqft ∙ Built 2008
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,690
    • $0.91
    •  
  • 3712 San Lucas Lane Denton, TX 2
    • 3 beds 3 baths ∙ 1,812 Sqft ∙ Built 2008 3 beds 3 baths ∙ 1,812 Sqft ∙ Built 2008
    property image
    LEASED 03/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.94
    •  
  • 3604 Monte Verde Way Denton, TX 3
    • 3 beds 3 baths ∙ 1,812 Sqft ∙ Built 2009 3 beds 3 baths ∙ 1,812 Sqft ∙ Built 2009
    property image
    LEASED 07/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.94
    •  
  • 5817 Glenwood Drive Denton, TX 4
    • 3 beds 2 baths ∙ 1,809 Sqft ∙ Built 2015 3 beds 2 baths ∙ 1,809 Sqft ∙ Built 2015
    property image
    LEASED 12/28/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.97
    •  
  • 5812 Marsh Rail Drive Denton, TX 5
    • 4 beds 2 baths ∙ 1,990 Sqft ∙ Built 2015 4 beds 2 baths ∙ 1,990 Sqft ∙ Built 2015
    property image
    LEASED 12/19/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.95
    •  
PROPERTY LISTING DETAILS
Andrea Pratt
Keller Williams No. Collin Cty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14419894
Last Updated: 08/25/2020
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