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5405 Parkplace Drive Denton, TX 76226

5 Beds 3 Baths 3,250 sqft Built 2005

$399,990

List Price

$2,910

$2.7K - $3.2K

Rent Est.

PROPERTY INFO

December 31, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2005
  • Price/Sqft : $123.07
  • 4 Days on Market
  • MLS # : 14492530
  • Updated Date : 12/31/2020 at 02:00
CONSTRUCTION
  • Beds : 5
  • Floor Size : 3,250 sqft
  • Baths : 3 full
Listing Agent

Rowland Real Estate

Listing Agent's Description

Great community, 2 pools, playgrounds, putting green, jogging trails, fishing ponds, great neighbors. Backs up to greenbelt for pretty view and garden. Upgrades in last 3 years are new Fence, Pergola, flagstone patio, workshop with elec and AC, Reading nook, Dishwasher, Media Room and prayer closet or 5th bedroom, Interior paint in most rooms, freshly painted ceilings, landscaping, outdoor lighting, re-worked sprinkler system, There are 4 bedrooms, 1 used as office, 3 full baths, lots of storage, 3 car garage with openers on both doors. Seller is willing to offer upto $12,000 allowance for windows, paint, carpet or reduce the price. Come see a lot of house for a great price move-in ready!

SEE MORE

MARKET HIGHLIGHTS

  • # 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)
  • . Dallas has 7th largest concentration of high-tech jobs in the U.S. (Dallas Chamber)

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
 

$359,991$439,989$399,990

PURCHASE PRICE

$2,619$3,201$2,910

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,910
EXPENSES Loan Payment -$1,476
Property Tax -$795
Property Insurance -$215
HOA -$63
Property Management Fees -$99
CASH FLOW
$262

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.

$399,990

PROJECTED PRICE

$2,910

PROJECTED RENT

0.73%

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$1.2M$1.4M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$111,747

INVESTMENT

$111,747

Down Payment
$99,998
Rehab Estimate
$5,750
Closing Costs
$6,000

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,476

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $99,998
Loan Amount $299,993
See What Happens When You Reinvest Cash Flow

7.67

YEARS SAVED

$47,262

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,910

    LIST RENT
  • $0.9

    LIST RENT PER SQFT
  • $3,071

    COMP ESTIMATED VALUE
  • $0.95

    COMP AVG. RENT PER SQFT
Comps Range
$2,910
1$2,9102$3,0003$3,0004$3,0005$3,200
$3,200
RENT COMPS ANALYSIS
  • 5405 Parkplace Drive Denton, TX 1
    • 5 beds 3 baths ∙ 3,250 Sqft ∙ Built 2005 5 beds 3 baths ∙ 3,250 Sqft ∙ Built 2005
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,910
    • $0.90
    •  
  • 312 Creekside Trail Argyle, TX 2
    • 4 beds 3 baths ∙ 3,021 Sqft ∙ Built 2004 4 beds 3 baths ∙ 3,021 Sqft ∙ Built 2004
    property image
    LEASED 07/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $0.99
    •  
  • 321 Clear Cove Argyle, TX 3
    • 4 beds 3 baths ∙ 3,256 Sqft ∙ Built 2012 4 beds 3 baths ∙ 3,256 Sqft ∙ Built 2012
    property image
    LEASED 08/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $0.92
    •  
  • 317 Country Lakes Drive Argyle, TX 4
    • 5 beds 4 baths ∙ 3,309 Sqft ∙ Built 2005 5 beds 4 baths ∙ 3,309 Sqft ∙ Built 2005
    property image
    LEASED 10/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $0.91
    •  
  • 433 Meandering Creek Drive Argyle, TX 5
    • 4 beds 4 baths ∙ 3,342 Sqft ∙ Built 2005 4 beds 4 baths ∙ 3,342 Sqft ∙ Built 2005
    property image
    LEASED 02/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $0.96
    •  
PROPERTY LISTING DETAILS
Blake Mullins
Rowland Real Estate
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14492530
Last Updated: 12/31/2020
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