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6305 Barberry Avenue Denton, TX 76208

4 Beds 3 Baths 2,512 sqft Built 2001

$299,500

List Price

$1,970

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

October 30, 2020 RECENTLY ADDED
FACTS
  • Built In 2001
  • Price/Sqft : $119.23
  • 5 Days on Market
  • MLS # : 14460082
  • Updated Date : 10/30/2020 at 19:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,512 sqft
  • Baths : 3 full
Listing Agent

Keller Williams Realty-fm

Listing Agent's Description

This Updated 2stry 4 BR 3bath beauty of a home has gorgeous, dark premium vinyl floors as you step inside, you are welcomed by a spacious, bright and airy dining room! The kitchen is complete with SS appliances, gas stove top and tons of counter space with a bay window perfect for those sunny days! In the living area you will fall in love with the see through, gas powered fireplace that will welcome you on the other side as you enter the office area! Make your way into the spacious master BR with updated master bath - complete with granite counter tops, a large garden tub and a separate shower. Upstairs has a 2nd living area and extra BR! Enjoy the tranquil, shaded back yard! Look no further Welcome 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

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
 

$269,550$329,450$299,500

PURCHASE PRICE

$1,773$2,167$1,970

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,970
EXPENSES Loan Payment -$1,105
Property Tax -$596
Property Insurance -$172
HOA -$39
Property Management Fees -$99
CASH FLOW
-$40

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.

$299,500

PROJECTED PRICE

$1,970

PROJECTED RENT

0.66%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 5.9%
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

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$900k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$85,118

INVESTMENT

$85,118

Down Payment
$74,875
Rehab Estimate
$5,750
Closing Costs
$4,493

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,105

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $74,875
Loan Amount $224,625
See What Happens When You Reinvest Cash Flow

3.75

YEARS SAVED

$12,842

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,970

    LIST RENT
  • $0.78

    LIST RENT PER SQFT
  • $1,984

    COMP ESTIMATED VALUE
  • $0.79

    COMP AVG. RENT PER SQFT
Comps Range
$1,925
1$1,9252$1,9703$1,9954$2,0005$2,100
$2,100
RENT COMPS ANALYSIS
  • 6305 Barberry Avenue Denton, TX 2
    • 4 beds 3 baths ∙ 2,512 Sqft ∙ Built 2001 4 beds 3 baths ∙ 2,512 Sqft ∙ Built 2001
    • Rent
    • Rent Per SQFT
    •  
    • $1,970
    • $0.78
    •  
  • 5000 Del Rey Circle Denton, TX 1
    • 4 beds 3 baths ∙ 2,382 Sqft ∙ Built 2008 4 beds 3 baths ∙ 2,382 Sqft ∙ Built 2008
    LEASED 12/16/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,925
    • $0.81
    •  
  • 4509 Indian Paint Way Denton, TX 3
    • 5 beds 4 baths ∙ 2,683 Sqft ∙ Built 2007 5 beds 4 baths ∙ 2,683 Sqft ∙ Built 2007
    LEASED 11/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.74
    •  
  • 3413 Seaside Drive Denton, TX 4
    • 4 beds 3 baths ∙ 2,600 Sqft ∙ Built 2015 4 beds 3 baths ∙ 2,600 Sqft ∙ Built 2015
    LEASED 10/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.77
    •  
  • 4701 Green River Drive Denton, TX 5
    • 4 beds 3 baths ∙ 2,507 Sqft ∙ Built 2014 4 beds 3 baths ∙ 2,507 Sqft ∙ Built 2014
    LEASED 03/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.84
    •  
PROPERTY LISTING DETAILS
Missy Phipps
Keller Williams Realty-fm
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14460082
Last Updated: 10/30/2020
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