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531 Strata Drive Denton, TX 76201

3 Beds 2 Baths 1,304 sqft Built 1997

$229,900

List Price

$1,620

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

February 04, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1997
  • Price/Sqft : $176.30
  • 4 Days on Market
  • MLS # : 14511459
  • Updated Date : 02/06/2021 at 23:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,304 sqft
  • Baths : 2 full
Listing Agent

Brian Holt Realty

Listing Agent's Description

You will fall in love with this beautiful one story, 3bed, 2bath home built by Snyder Construction. Awesome, great room with high ceilings & lots of windows facing south! Gas fireplace features classy, wooden mantel. Kitchen has granite countertops & new, stainless steel microwave & one year old stainless electric range. Double sinks in master bath. No homes behind the house allows for open views from the windows and patio. Convenient location minutes from the beautiful Denton Square, UNT, Texas Woman's University & Razor Ranch Shopping, North Lakes Park, walking trails and dog park. Big, beautiful, GE stainless steel refrigerator negotiable! No HOA.

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

Zip Code: 76201

ZipNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240kPrice in $97k247k

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

Zip Code: 76201

ZipNIR Market*CityMarket2010Year20002019 Q280090010001100120013001400150016001700Rent in $7391769

* 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
Evers Park Elementary School Primary Regular 546 44 5
Calhoun Middle School Middle Regular 684 54 4
Denton High School High Regular 2,166 140 6

Evers Park Elementary School

  • Education Level: Primary
  • # of students: 546
  • # of teachers: 44
5
GreatSchools Rating

Calhoun Middle School

  • Education Level: Middle
  • # of students: 684
  • # of teachers: 54
4
GreatSchools Rating

Denton High School

  • Education Level: High
  • # of students: 2,166
  • # of teachers: 140
6
GreatSchools Rating
 

$206,910$252,890$229,900

PURCHASE PRICE

$1,458$1,782$1,620

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,620
EXPENSES Loan Payment -$799
Property Tax -$457
Property Insurance -$103
Property Management Fees -$99
CASH FLOW
$163

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.

$229,900

PROJECTED PRICE

$1,620

PROJECTED RENT

0.70%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 11.6%
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$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

11530$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$900k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$66,674

INVESTMENT

$66,674

Down Payment
$57,475
Rehab Estimate
$5,750
Closing Costs
$3,449

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$799

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $57,475
Loan Amount $172,425
See What Happens When You Reinvest Cash Flow

8.17

YEARS SAVED

$24,614

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,620

    LIST RENT
  • $1.24

    LIST RENT PER SQFT
  • $1,493

    COMP ESTIMATED VALUE
  • $1.15

    COMP AVG. RENT PER SQFT
Comps Range
$1,450
1$1,4502$1,4953$1,5954$1,6205$1,700
$1,700
RENT COMPS ANALYSIS
  • 531 Strata Drive Denton, TX 4
    • 3 beds 2 baths ∙ 1,304 Sqft ∙ Built 1997 3 beds 2 baths ∙ 1,304 Sqft ∙ Built 1997
    • Rent
    • Rent Per SQFT
    •  
    • $1,620
    • $1.24
    •  
  • 320 W Windsor Drive Denton, TX 1
    • 3 beds 2 baths ∙ 1,247 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,247 Sqft ∙ Built 2003
    LEASED 06/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $1.16
    •  
  • 289 Benjamin Street Denton, TX 2
    • 3 beds 2 baths ∙ 1,367 Sqft ∙ Built 1985 3 beds 2 baths ∙ 1,367 Sqft ∙ Built 1985
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $1.09
    •  
  • 527 Strata Drive Denton, TX 3
    • 3 beds 2 baths ∙ 1,337 Sqft ∙ Built 1997 3 beds 2 baths ∙ 1,337 Sqft ∙ Built 1997
    LEASED 05/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $1.19
    •  
  • 2605 N Locust Street Denton, TX 5
    • 4 beds 2 baths ∙ 1,495 Sqft ∙ Built 1999 4 beds 2 baths ∙ 1,495 Sqft ∙ Built 1999
    LEASED 12/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $1.14
    •  
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 #: 14511459
Last Updated: 02/06/2021
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