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6005 Brookside Drive Denton, TX 76226

3 Beds 3 Baths 2,406 sqft Built 2005

$299,000

List Price

$1,940

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

December 01, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2005
  • Price/Sqft : $124.27
  • 6 Days on Market
  • MLS # : 14473063
  • Updated Date : 12/05/2020 at 14:20
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,406 sqft
  • Baths : 2 full , 1 half
Listing Agent

Century 21 Mike Bowman, Inc.

Listing Agent's Description

Immaculate well kept 3 bedroom, 2.5 bathroom house located in Country Lakes North. Lot's of windows with an open layout with abundant natural light! The main living area is large with built in cabinets & open to a fabulous kitchen with lots of cabinets & counter space. Downstairs study & formal dining room are great spaces for work and dinner parties. Upstairs you will find a game or family room. All bedrooms are upstairs. The master is separated from the other 2 bedrooms. Great large backyard & extended patio is perfect for entertaining! This home won't last long!

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
 

$269,100$328,900$299,000

PURCHASE PRICE

$1,746$2,134$1,940

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,940
EXPENSES Loan Payment -$1,103
Property Tax -$595
Property Insurance -$166
HOA -$63
Property Management Fees -$99
CASH FLOW
-$85

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.

$299,000

PROJECTED PRICE

$1,940

PROJECTED RENT

0.65%

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-$4.0k-$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$200k$400k$600k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$84,985

INVESTMENT

$84,985

Down Payment
$74,750
Rehab Estimate
$5,750
Closing Costs
$4,485

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,103

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $74,750
Loan Amount $224,250
See What Happens When You Reinvest Cash Flow

3.17

YEARS SAVED

$9,420

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,940

    LIST RENT
  • $0.81

    LIST RENT PER SQFT
  • $2,099

    COMP ESTIMATED VALUE
  • $0.87

    COMP AVG. RENT PER SQFT
Comps Range
$1,940
1$1,9402$1,9953$1,9954$2,1505$2,650
$2,650
RENT COMPS ANALYSIS
  • 6005 Brookside Drive Denton, TX 1
    • 3 beds 3 baths ∙ 2,406 Sqft ∙ Built 2005 3 beds 3 baths ∙ 2,406 Sqft ∙ Built 2005
    • Rent
    • Rent Per SQFT
    •  
    • $1,940
    • $0.81
    •  
  • 5908 Parkplace Drive Denton, TX 2
    • 4 beds 2 baths ∙ 2,492 Sqft ∙ Built 2006 4 beds 2 baths ∙ 2,492 Sqft ∙ Built 2006
    LEASED 12/02/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.80
    •  
  • 5917 Greenmeadow Drive Denton, TX 3
    • 3 beds 3 baths ∙ 2,406 Sqft ∙ Built 2004 3 beds 3 baths ∙ 2,406 Sqft ∙ Built 2004
    LEASED 03/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.83
    •  
  • 5800 Greenmeadow Drive Denton, TX 4
    • 4 beds 3 baths ∙ 2,406 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,406 Sqft ∙ Built 2004
    LEASED 07/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $0.89
    •  
  • 9316 Benbrook Lane Denton, TX 5
    • 3 beds 3 baths ∙ 2,732 Sqft ∙ Built 2016 3 beds 3 baths ∙ 2,732 Sqft ∙ Built 2016
    LEASED 01/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,650
    • $0.97
    •  
PROPERTY LISTING DETAILS
Nick Van Der Gaast
Century 21 Mike Bowman, Inc.
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14473063
Last Updated: 12/05/2020
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