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5209 Parkplace Drive Denton, TX 76226

4 Beds 2 Baths 2,057 sqft Built 2003

$300,000

List Price

$1,970

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 18, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2003
  • Price/Sqft : $145.84
  • 4 Days on Market
  • MLS # : 14534018
  • Updated Date : 03/19/2021 at 09:48
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,057 sqft
  • Baths : 2 full
Listing Agent

Texas Realty Exchange, Llc

Listing Agent's Description

Pristine One Owner Home in Country Lakes! The front porch invites you into this meticulously kept home that has 4 bedrooms, 2 baths and two living areas on highly desireable lot that backs up to greenbelt! The large kitchen is the heart of the home with large island, ss appliances, and breakfast bar that is open to the living room and eat in kitchen. Lots of natural light comes in from the patio area into the living room complete with brick gas fireplace. Owners retreat is separate from the 3 secondary bedrooms for complete privacy. Second living area could easily be used as a large office, playroom or lounge area. Side swing garage provides extra parking and privacy. This one won't disappoint!

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: Country Lakes North

NeighborhoodNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360k380k400kPrice in $123k417k

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

Neighborhood: Country Lakes North

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
W.s. Ryan Elementary School Primary Regular 588 44 6
Carroll Mcmath Middle School Middle Regular 741 55 6
Denton High School High Regular 2,166 140 6

W.s. Ryan Elementary School

  • Education Level: Primary
  • # of students: 588
  • # of teachers: 44
6
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
 

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

PURCHASE PRICE

$1,773$2,167$1,970

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,970
EXPENSES Loan Payment -$1,042
Property Tax -$597
Property Insurance -$146
HOA -$61
Property Management Fees -$99
CASH FLOW
$25

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

$1,970

PROJECTED RENT

0.66%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 7.8%
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

4.67

YEARS SAVED

$14,611

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,970

    LIST RENT
  • $0.96

    LIST RENT PER SQFT
  • $2,062

    COMP ESTIMATED VALUE
  • $1

    COMP AVG. RENT PER SQFT
Comps Range
$1,850
1$1,8502$1,9703$2,0004$2,0955$2,200
$2,200
RENT COMPS ANALYSIS
  • 5209 Parkplace Drive Denton, TX 2
    • 4 beds 2 baths ∙ 2,057 Sqft ∙ Built 2003 4 beds 2 baths ∙ 2,057 Sqft ∙ Built 2003
    • Rent
    • Rent Per SQFT
    •  
    • $1,970
    • $0.96
    •  
  • 9804 Garden Court Denton, TX 1
    • 4 beds 2 baths ∙ 2,012 Sqft ∙ Built 2005 4 beds 2 baths ∙ 2,012 Sqft ∙ Built 2005
    LEASED 04/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.92
    •  
  • 5416 Brookside Drive Denton, TX 3
    • 3 beds 2 baths ∙ 1,948 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,948 Sqft ∙ Built 2006
    LEASED 03/17/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $1.03
    •  
  • 6000 Parkplace Drive Denton, TX 4
    • 4 beds 2 baths ∙ 2,034 Sqft ∙ Built 2009 4 beds 2 baths ∙ 2,034 Sqft ∙ Built 2009
    LEASED 07/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,095
    • $1.03
    •  
  • 4712 Stillhouse Hollow Lane Denton, TX 5
    • 3 beds 2 baths ∙ 2,135 Sqft ∙ Built 2018 3 beds 2 baths ∙ 2,135 Sqft ∙ Built 2018
    LEASED 07/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $1.03
    •  
PROPERTY LISTING DETAILS
Shawna Martinez
Texas Realty Exchange, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14534018
Last Updated: 03/19/2021
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