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5408 Songbird Trail Denton, TX 76207

3 Beds 2 Baths 1,739 sqft Built 2019

$276,900

List Price

$1,790

$1.6K - $2K

Rent Est.

PROPERTY INFO

Built 2019 NEW CONSTRUCTION
November 03, 2020 RECENTLY ADDED
FACTS
  • Built In 2019
  • Price/Sqft : $159.23
  • 6 Days on Market
  • MLS # : 14404585
  • Updated Date : 11/03/2020 at 18:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,739 sqft
  • Baths : 2 full
Listing Agent

Lgi Homes

Listing Agent's Description

New! Move-In Ready! This lovely 3 bedroom, 2 bathroom home has lots of light. The fully equipped kitchen showcases new, energy efficient appliances and custom cabinets. This is a home you must see!

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

Zip Code: 76207

ZipNIR Market*CityMarket2010Year20002019120k130k140k150k160k170k180k190k200k210k220k230k240k250k260kPrice in $115k261k

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

Zip Code: 76207

ZipNIR Market*CityMarket2010Year20002019 Q29001000110012001300140015001600170018001900Rent in $8701907

* 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
Ginnings Elementary School Primary Regular 619 48 5
Strickland Middle School Middle Regular 899 65 5
Billy Ryan High School High Regular 2,409 170 5

Ginnings Elementary School

  • Education Level: Primary
  • # of students: 619
  • # of teachers: 48
5
GreatSchools Rating

Strickland Middle School

  • Education Level: Middle
  • # of students: 899
  • # of teachers: 65
5
GreatSchools Rating

Billy Ryan High School

  • Education Level: High
  • # of students: 2,409
  • # of teachers: 170
5
GreatSchools Rating
 

$249,210$304,590$276,900

PURCHASE PRICE

$1,611$1,969$1,790

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,790
EXPENSES Loan Payment -$1,022
Property Tax -$551
Property Insurance -$128
HOA -$25
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 9% of earned rent to cover both maintenance and periods of vacancy.

$276,900

PROJECTED PRICE

$1,790

PROJECTED RENT

0.65%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 8.6%
Maintenance Year (1-5) 3.00%
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

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$900k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$75,379

INVESTMENT

$75,379

Down Payment
$69,225
Rehab Estimate
$2,000
Closing Costs
$4,154

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,022

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $69,225
Loan Amount $207,675
See What Happens When You Reinvest Cash Flow

4.08

YEARS SAVED

$12,630

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,790

    LIST RENT
  • $1.03

    LIST RENT PER SQFT
  • $1,787

    COMP ESTIMATED VALUE
  • $1.03

    COMP AVG. RENT PER SQFT
Comps Range
$1,695
1$1,6952$1,7503$1,7504$1,7905$1,850
$1,850
RENT COMPS ANALYSIS
  • 5408 Songbird Trail Denton, TX 4
    • 3 beds 2 baths ∙ 1,739 Sqft ∙ Built 2019 3 beds 2 baths ∙ 1,739 Sqft ∙ Built 2019
    • Rent
    • Rent Per SQFT
    •  
    • $1,790
    • $1.03
    •  
  • 5313 Songbird Trail Denton, TX 1
    • 3 beds 2 baths ∙ 1,608 Sqft ∙ Built 2020 3 beds 2 baths ∙ 1,608 Sqft ∙ Built 2020
    LEASED 10/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $1.05
    •  
  • 1109 Keystone Court Denton, TX 2
    • 3 beds 2 baths ∙ 1,768 Sqft ∙ Built 2020 3 beds 2 baths ∙ 1,768 Sqft ∙ Built 2020
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.99
    •  
  • 5500 Zara Drive Denton, TX 3
    • 3 beds 2 baths ∙ 1,739 Sqft ∙ Built 2019 3 beds 2 baths ∙ 1,739 Sqft ∙ Built 2019
    LEASED 07/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $1.01
    •  
  • 5409 Songbird Trail Denton, TX 5
    • 3 beds 2 baths ∙ 1,739 Sqft ∙ Built 2020 3 beds 2 baths ∙ 1,739 Sqft ∙ Built 2020
    LEASED 09/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $1.06
    •  
PROPERTY LISTING DETAILS
Mona Hill
Lgi Homes
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14404585
Last Updated: 11/03/2020
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