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6005 Greenmeadow Drive Denton, TX 76226

3 Beds 2 Baths 2,406 sqft Built 2004

$293,500

List Price

$2,070

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

February 07, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2004
  • Price/Sqft : $121.99
  • 1 Days on Market
  • MLS # : 14511050
  • Updated Date : 02/06/2021 at 23:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,406 sqft
  • Baths : 2 full
Listing Agent

Major League Realty, Inc.

Listing Agent's Description

Beautiful, well maintained home in Country Lakes in Argyle. Location, location, location, close to I-35, close to Denton, Alliance Center, DFW airport, Ft Worth, etc.. Dine in kitchen, with a large living area, formal dining room and office or playroom all downstairs. Additional living area upstairs. Bedrooms are over sized, with lots of closet space. Expansive master suite, with in suite bath. This one is a must see, as it will not last long.

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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
 

$264,150$322,850$293,500

PURCHASE PRICE

$1,863$2,277$2,070

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,070
EXPENSES Loan Payment -$1,019
Property Tax -$584
Property Insurance -$166
HOA -$61
Property Management Fees -$99
CASH FLOW
$141

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.

$293,500

PROJECTED PRICE

$2,070

PROJECTED RENT

0.71%

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-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

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$83,528

INVESTMENT

$83,528

Down Payment
$73,375
Rehab Estimate
$5,750
Closing Costs
$4,403

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,019

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $73,375
Loan Amount $220,125
See What Happens When You Reinvest Cash Flow

6.67

YEARS SAVED

$23,861

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,070

    LIST RENT
  • $0.86

    LIST RENT PER SQFT
  • $2,099

    COMP ESTIMATED VALUE
  • $0.87

    COMP AVG. RENT PER SQFT
Comps Range
$1,995
1$1,9952$1,9953$2,0704$2,1505$2,650
$2,650
RENT COMPS ANALYSIS
  • 6005 Greenmeadow Drive Denton, TX 3
    • 3 beds 2 baths ∙ 2,406 Sqft ∙ Built 2004 3 beds 2 baths ∙ 2,406 Sqft ∙ Built 2004
    • Rent
    • Rent Per SQFT
    •  
    • $2,070
    • $0.86
    •  
  • 5908 Parkplace Drive Denton, TX 1
    • 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 2
    • 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
Kevin Deal
Major League Realty, Inc.
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14511050
Last Updated: 02/06/2021
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