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4513 Joe Van Way Denton, TX 76226

3 Beds 2 Baths 1,872 sqft Built 2010

$300,000

List Price

$1,930

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

January 21, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2010
  • Price/Sqft : $160.26
  • 4 Days on Market
  • MLS # : 14501741
  • Updated Date : 01/22/2021 at 12:30
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,872 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Realty-fm

Listing Agent's Description

Incredible home in sought after Argyle ISD! Impeccably maintained with tons of upgraded throughout but the backyard oasis is the best part of this home. Lush landscaping surrounds the saltwater pebble tec pool and rock water feature. A pergola and covered patio offer ample space to relax or entertain. The home has a wonderful layout with 3 bed plus a flex space for office or formal dining. Large open kitchen featuring SS appliances, LG double convection oven, Bosch silent dishwasher, granite and skylight. Hand-scraped wood floors in living and flex space and luxury carpet in bedrooms. Fresh paint in 2021 and new roof in 2020. Many other upgrades listed on attached document. Pride of ownership shows!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Meadows at Hickory Creek

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360k380k400kPrice in $123k417k

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

Neighborhood: Meadows at Hickory Creek

NeighborhoodNIR Market*CityMarket2010Year20002019 Q212001400160018002000220024002600Rent in $11262676

* 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
Argyle Intermediate School Primary Regular 295 17 8
Argyle Intermediate School Middle Regular 295 17 8
Argyle High School High Regular 711 50 8

Argyle Intermediate School

  • Education Level: Primary
  • # of students: 295
  • # of teachers: 17
8
GreatSchools Rating

Argyle Intermediate School

  • Education Level: Middle
  • # of students: 295
  • # of teachers: 17
8
GreatSchools Rating

Argyle High School

  • Education Level: High
  • # of students: 711
  • # of teachers: 50
8
GreatSchools Rating
 

$270,000$330,000$300,000

PURCHASE PRICE

$1,737$2,123$1,930

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,930
EXPENSES Loan Payment -$1,042
Property Tax -$597
Property Insurance -$135
HOA -$23
Property Management Fees -$99
CASH FLOW
$34

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.

$300,000

PROJECTED PRICE

$1,930

PROJECTED RENT

0.64%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 6.7%
Maintenance Year (1-5) 8.00%
Vacancy 6.93%
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-$4.0k-$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$85,250

INVESTMENT

$85,250

Down Payment
$75,000
Rehab Estimate
$5,750
Closing Costs
$4,500

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,042

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $75,000
Loan Amount $225,000
See What Happens When You Reinvest Cash Flow

5.08

YEARS SAVED

$15,765

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,930

    LIST RENT
  • $1.03

    LIST RENT PER SQFT
  • $1,923

    COMP ESTIMATED VALUE
  • $1.03

    COMP AVG. RENT PER SQFT
Comps Range
$1,850
1$1,8502$1,9303$1,9504$2,0005$2,200
$2,200
RENT COMPS ANALYSIS
  • 4513 Joe Van Way Denton, TX 2
    • 3 beds 2 baths ∙ 1,872 Sqft ∙ Built 2010 3 beds 2 baths ∙ 1,872 Sqft ∙ Built 2010
    • Rent
    • Rent Per SQFT
    •  
    • $1,930
    • $1.03
    •  
  • 4509 Shagbark Drive Denton, TX 1
    • 3 beds 2 baths ∙ 1,872 Sqft ∙ Built 2010 3 beds 2 baths ∙ 1,872 Sqft ∙ Built 2010
    LEASED 06/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.99
    •  
  • 4500 Lacewood Drive Denton, TX 3
    • 3 beds 2 baths ∙ 1,873 Sqft ∙ Built 2010 3 beds 2 baths ∙ 1,873 Sqft ∙ Built 2010
    LEASED 05/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $1.04
    •  
  • 4520 Shagbark Drive Argyle, TX 4
    • 3 beds 2 baths ∙ 2,020 Sqft ∙ Built 2012 3 beds 2 baths ∙ 2,020 Sqft ∙ Built 2012
    LEASED 10/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.99
    •  
  • 3321 Hornbeam Street Denton, TX 5
    • 3 beds 2 baths ∙ 2,020 Sqft ∙ Built 2009 3 beds 2 baths ∙ 2,020 Sqft ∙ Built 2009
    LEASED 12/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $1.09
    •  
PROPERTY LISTING DETAILS
Jessica Russell
Keller Williams Realty-fm
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14501741
Last Updated: 01/22/2021
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