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6108 Goldenrod Drive Denton, TX 76208

3 Beds 2 Baths 1,885 sqft Built 2005

INVESTimate

$265,000

List Price

$1,740

$1,566 - $1,914

Rent Est.

$280,582  ( +5.88%)   1 YR EST. FORECAST

PROPERTY INFO

August 21, 2020 RECENTLY ADDED
FACTS
  • Built In 2005
  • Price/Sqft : $140.58
  • 6 Days on Market
  • MLS # : 14417996
  • Updated Date : 08/24/2020 at 20:04
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,885 sqft
  • Baths : 2 full
Listing Agent

Exp Realty Llc

Listing Agent's Description

Immaculate 1 story home in The Preserve at Pecan Creek. Off the foyer enter through the french doors into the study with custom build in book shelves. The home features vaulted ceilings, crown molding, and wood laminate flooring throughout the living and master bedroom with a large walk in closet, dual sinks, and wall mounted safe. Kitchen is updated with granite, glass tile back splash, stainless steel appliances, 42in solid wood cabinetry, and open to the family room. Exterior features covered back patio, solar screens, energy efficient windows, Roof 2017, HVAC 2019, sprinkler system, close to neighborhood playground, pool, biking path, and Pecan Creek Elementary. Welcome home to 6108 Goldenrod!

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

Neighborhood: The Preserve at Pecan Creek

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $115k336k

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

Neighborhood: The Preserve at Pecan Creek

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2900100011001200130014001500160017001800190020002100Rent in $8702171

* 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
 

$238,500$291,500$265,000

PURCHASE PRICE

$1,566$1,914$1,740

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,740
EXPENSES Loan Payment -$978
Property Tax -$527
Property Insurance -$136
HOA -$35
Property Management Fees -$99
CASH FLOW
-$35

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.

$265,000

PROJECTED PRICE

$1,740

PROJECTED RENT

0.66%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 5.88%
Maintenance Year (1-5) 8.00%
Vacancy 6.93%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$75,975

INVESTMENT

$75,975

Down Payment
$66,250
Rehab Estimate
$5,750
Closing Costs
$3,975

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$978

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $66,250
Loan Amount $198,750
See What Happens When You Reinvest Cash Flow

3.92

YEARS SAVED

$11,683

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,740

    LIST RENT
  • $0.92

    LIST RENT PER SQFT
  • $1,828

    COMP ESTIMATED VALUE
  • $0.97

    COMP AVG. RENT PER SQFT
Comps Range
$1,725
1$1,7252$1,7403$1,7504$1,7505$1,900
$1,900
RENT COMPS ANALYSIS
  • 6108 Goldenrod Drive Denton, TX 2
    • 3 beds 2 baths ∙ 1,885 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,885 Sqft ∙ Built 2005
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,740
    • $0.92
    •  
  • 5805 Loveland Drive Denton, TX 1
    • 4 beds 2 baths ∙ 1,773 Sqft ∙ Built 2015 4 beds 2 baths ∙ 1,773 Sqft ∙ Built 2015
    property image
    LEASED 01/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,725
    • $0.97
    •  
  • 5817 Glenwood Drive Denton, TX 3
    • 3 beds 2 baths ∙ 1,809 Sqft ∙ Built 2015 3 beds 2 baths ∙ 1,809 Sqft ∙ Built 2015
    property image
    LEASED 12/28/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.97
    •  
  • 4817 Green River Drive Denton, TX 4
    • 4 beds 2 baths ∙ 1,772 Sqft ∙ Built 2014 4 beds 2 baths ∙ 1,772 Sqft ∙ Built 2014
    property image
    LEASED 03/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.99
    •  
  • 5812 Marsh Rail Drive Denton, TX 5
    • 4 beds 2 baths ∙ 1,990 Sqft ∙ Built 2015 4 beds 2 baths ∙ 1,990 Sqft ∙ Built 2015
    property image
    LEASED 12/19/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.95
    •  
PROPERTY LISTING DETAILS
Aaron Kile
Exp Realty Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14417996
Last Updated: 08/24/2020
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