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5604 Brookside Drive Denton, TX 76226

3 Beds 2 Baths 1,520 sqft Built 2005

$250,000

List Price

$1,700

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

February 04, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2005
  • Price/Sqft : $164.47
  • 4 Days on Market
  • MLS # : 14512553
  • Updated Date : 02/05/2021 at 23:20
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,520 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Realty

Listing Agent's Description

MULTIPPLE OFFERS RECIEVED HIGHEST AND BEST DUE SATURDAY Feb. 6th BY 5:00PM. Country Lakes home in a family oriented quiet neighborhood. The split floor plan having the Master bedroom on the other side of the home. This one story home features an open floor plan concept with great natural lighting. Large primary bedroom with ensuite bathroom that includes Large garden tub, separate shower, and large walk in closet. Large backyard that dogs and kids will love to play in. The home is vacant and cleaned regularly.

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
 

$225,000$275,000$250,000

PURCHASE PRICE

$1,530$1,870$1,700

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,700
EXPENSES Loan Payment -$868
Property Tax -$497
Property Insurance -$115
HOA -$42
Property Management Fees -$99
CASH FLOW
$79

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.

$250,000

PROJECTED PRICE

$1,700

PROJECTED RENT

0.68%

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$100k$200k$300k$400k$500k$600k$700k$800k$900k

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$72,000

INVESTMENT

$72,000

Down Payment
$62,500
Rehab Estimate
$5,750
Closing Costs
$3,750

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$868

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $62,500
Loan Amount $187,500
See What Happens When You Reinvest Cash Flow

6

YEARS SAVED

$17,056

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,700

    LIST RENT
  • $1.12

    LIST RENT PER SQFT
  • $1,695

    COMP ESTIMATED VALUE
  • $1.12

    COMP AVG. RENT PER SQFT
Comps Range
$1,595
1$1,5952$1,6503$1,7004$1,7005$1,750
$1,750
RENT COMPS ANALYSIS
  • 5604 Brookside Drive Denton, TX 4
    • 3 beds 2 baths ∙ 1,520 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,520 Sqft ∙ Built 2005
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $1.12
    •  
  • 5720 Meadowglen Drive Denton, TX 1
    • 3 beds 2 baths ∙ 1,411 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,411 Sqft ∙ Built 2005
    LEASED 08/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $1.13
    •  
  • 5912 Meadowglen Drive Denton, TX 2
    • 3 beds 2 baths ∙ 1,520 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,520 Sqft ∙ Built 2003
    LEASED 02/03/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.09
    •  
  • 5716 Balmorhea Drive Denton, TX 3
    • 3 beds 2 baths ∙ 1,520 Sqft ∙ Built 2007 3 beds 2 baths ∙ 1,520 Sqft ∙ Built 2007
    LEASED 11/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $1.12
    •  
  • 6016 Brookside Drive Denton, TX 5
    • 3 beds 2 baths ∙ 1,559 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,559 Sqft ∙ Built 2004
    LEASED 11/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $1.12
    •  
PROPERTY LISTING DETAILS
Jihan Jackson
Keller Williams Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14512553
Last Updated: 02/05/2021
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