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5705 Del Rey Drive Denton, TX 76208

3 Beds 2 Baths 1,931 sqft Built 2017

$274,995

List Price

$1,850

$1.7K - $2K

Rent Est.

PROPERTY INFO

November 14, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2017
  • Price/Sqft : $142.41
  • 2 Days on Market
  • MLS # : 14471467
  • Updated Date : 11/14/2020 at 03:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,931 sqft
  • Baths : 2 full
Listing Agent

Nb Elite Realty

Listing Agent's Description

Welcome Home! This light and bright like-new home in the beautiful Villages of Carmel neighborhood has it all. New light fixtures, fresh paint, and new carpet are just a few of the updates in this three-bedroom home. Enjoy the large master closet, spacious rooms, and covered patio deck when you decide to call the property home.

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: 76208

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260kPrice in $115k276k

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

Zip Code: 76208

ZipNIR Market*CityMarket2010Year20002019 Q29001000110012001300140015001600170018001900Rent in $8701937

* 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
Pecan Creek Elementary School Primary Regular 693 48 7
Bettye Myers Middle School Middle Unknown 828 54 NA
Billy Ryan High School High Regular 2,409 170 5

Pecan Creek Elementary School

  • Education Level: Primary
  • # of students: 693
  • # of teachers: 48
7
GreatSchools Rating

Bettye Myers Middle School

  • Education Level: Middle
  • # of students: 828
  • # of teachers: 54
NA
GreatSchools Rating

Billy Ryan High School

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

$247,496$302,495$274,995

PURCHASE PRICE

$1,665$2,035$1,850

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,850
EXPENSES Loan Payment -$1,015
Property Tax -$547
Property Insurance -$139
HOA -$200
Property Management Fees -$99
CASH FLOW
-$149

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.

$274,995

PROJECTED PRICE

$1,850

PROJECTED RENT

0.67%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 7.8%
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$100k$200k$300k$400k$500k$600k$700k$800k$900k

PROJECTED ANNUAL CASH FLOW

11530-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k

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$78,624

INVESTMENT

$78,624

Down Payment
$68,749
Rehab Estimate
$5,750
Closing Costs
$4,125

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$1,015

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $68,749
Loan Amount $206,246
See What Happens When You Reinvest Cash Flow

1.67

YEARS SAVED

$3,723

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,850

    LIST RENT
  • $0.96

    LIST RENT PER SQFT
  • $1,950

    COMP ESTIMATED VALUE
  • $1.01

    COMP AVG. RENT PER SQFT
Comps Range
$1,695
1$1,6952$1,7003$1,8504$1,9505$2,000
$2,000
RENT COMPS ANALYSIS
  • 5705 Del Rey Drive Denton, TX 3
    • 3 beds 2 baths ∙ 1,931 Sqft ∙ Built 2017 3 beds 2 baths ∙ 1,931 Sqft ∙ Built 2017
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.96
    •  
  • 3712 San Lucas Lane Denton, TX 1
    • 3 beds 3 baths ∙ 1,812 Sqft ∙ Built 2008 3 beds 3 baths ∙ 1,812 Sqft ∙ Built 2008
    LEASED 03/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.94
    •  
  • 3604 Monte Verde Way Denton, TX 2
    • 3 beds 3 baths ∙ 1,812 Sqft ∙ Built 2009 3 beds 3 baths ∙ 1,812 Sqft ∙ Built 2009
    LEASED 07/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.94
    •  
  • 5616 Wharfside Place Denton, TX 4
    • 4 beds 3 baths ∙ 1,866 Sqft ∙ Built 2020 4 beds 3 baths ∙ 1,866 Sqft ∙ Built 2020
    LEASED 09/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $1.05
    •  
  • 3800 Juniperio Street Denton, TX 5
    • 3 beds 2 baths ∙ 1,797 Sqft ∙ Built 2017 3 beds 2 baths ∙ 1,797 Sqft ∙ Built 2017
    LEASED 06/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $1.11
    •  
PROPERTY LISTING DETAILS
Jackie Pearson
Nb Elite Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14471467
Last Updated: 11/14/2020
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