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5501 Balmorhea Drive Denton, TX 76226

3 Beds 2 Baths 2,202 sqft Built 2006

$290,000

List Price

$2,160

$1.9K - $2.4K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 26, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2006
  • Price/Sqft : $131.70
  • 3 Days on Market
  • MLS # : 14540342
  • Updated Date : 03/27/2021 at 20:11
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,202 sqft
  • Baths : 2 full
Listing Agent

Texas Urban Living Realty

Listing Agent's Description

MULTIPLE OFFERS RECEIVED. FINAL HIGHEST BEST OFFERS DUE SUNDAY MARCH 28th 1PM Highly sought out neighborhood of Country Lakes! Come walk into this adorable home that oversees 3 Bedrooms 2 Bathrooms, PLUS A STUDY with gorgeous French Doors. Enjoy the spacious open floor plan with a gorgeous oversized covered patio to relax and unwind in your backyard. Country Lakes community has a variety of amenities including a Community Pool, Playground, Pond, Green belt with many running walking trails. Come Take a Tour Today!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • # 1 in the country for job growth in 2017 (2.6% growth, 91,700 new jobs) (US Census, Forbes, 2017)

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
 

$261,000$319,000$290,000

PURCHASE PRICE

$1,944$2,376$2,160

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,160
EXPENSES Loan Payment -$1,007
Property Tax -$577
Property Insurance -$154
HOA -$34
Property Management Fees -$99
CASH FLOW
$289

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.

$290,000

PROJECTED PRICE

$2,160

PROJECTED RENT

0.74%

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$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k$18k

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$82,600

INVESTMENT

$82,600

Down Payment
$72,500
Rehab Estimate
$5,750
Closing Costs
$4,350

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$1,007

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $72,500
Loan Amount $217,500
See What Happens When You Reinvest Cash Flow

9.42

YEARS SAVED

$38,154

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,160

    LIST RENT
  • $0.98

    LIST RENT PER SQFT
  • $2,395

    COMP ESTIMATED VALUE
  • $1.09

    COMP AVG. RENT PER SQFT
Comps Range
$2,095
1$2,0952$2,1603$2,2004$2,3005$2,350
$2,350
RENT COMPS ANALYSIS
  • 5501 Balmorhea Drive Denton, TX 2
    • 3 beds 2 baths ∙ 2,202 Sqft ∙ Built 2006 3 beds 2 baths ∙ 2,202 Sqft ∙ Built 2006
    • Rent
    • Rent Per SQFT
    •  
    • $2,160
    • $0.98
    •  
  • 6000 Parkplace Drive Denton, TX 1
    • 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 3
    • 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
    •  
  • 5700 Balmorhea Drive Denton, TX 4
    • 4 beds 2 baths ∙ 2,046 Sqft ∙ Built 2013 4 beds 2 baths ∙ 2,046 Sqft ∙ Built 2013
    LEASED 03/24/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.12
    •  
  • 432 Meandering Creek Drive Argyle, TX 5
    • 3 beds 2 baths ∙ 2,007 Sqft ∙ Built 2003 3 beds 2 baths ∙ 2,007 Sqft ∙ Built 2003
    LEASED 01/08/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $1.17
    •  
PROPERTY LISTING DETAILS
Deanna Hill
Texas Urban Living Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14540342
Last Updated: 03/27/2021
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