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6601 Woodmere Court Denton, TX 76226

3 Beds 2 Baths 2,057 sqft Built 2020

$349,038

List Price

$2,050

$1.8K - $2.3K

Rent Est.

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
December 14, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2020
  • Price/Sqft : $169.68
  • 7 Days on Market
  • MLS # : 14485971
  • Updated Date : 12/14/2020 at 16:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,057 sqft
  • Baths : 2 full
Listing Agent

Gehan Homes Brokerage, Llc

Listing Agent's Description

Brand NEW Single-Story Gehan Home with 3 Bedrooms, 2 Bathrooms, 2 Car Garage and so much more! This home has a covered back patio, spacious pantry, open concept from kitchen to family. An elegant entry welcomes you with style, with high ceilings. The spacious kitchen features hardwood floors and a large island. The cozy breakfast nook offers a unique view to the family room. Enjoy the relaxing master suite and a luxurious master bath. This plan offers plenty of room to grow.

SEE MORE

MARKET HIGHLIGHTS

  • # 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)
  • . Dallas has 7th largest concentration of high-tech jobs in the U.S. (Dallas Chamber)

PRICE & RENT TRENDS

Zip Code: 76226

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360k380k400kPrice in $115k416k

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

Zip Code: 76226

ZipNIR Market*CityMarket2010Year20002019 Q2100012001400160018002000220024002600Rent in $8702773

* 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
 

$314,134$383,942$349,038

PURCHASE PRICE

$1,845$2,255$2,050

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,050
EXPENSES Loan Payment -$1,288
Property Tax -$694
Property Insurance -$146
HOA -$44
Property Management Fees -$99
CASH FLOW
-$221

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 10% of earned rent to cover both maintenance and periods of vacancy.

$349,038

PROJECTED PRICE

$2,050

PROJECTED RENT

0.59%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 4.6%
Maintenance Year (1-5) 3.00%
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-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k

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$94,495

INVESTMENT

$94,495

Down Payment
$87,260
Rehab Estimate
$2,000
Closing Costs
$5,236

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,288

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $87,260
Loan Amount $261,779
See What Happens When You Reinvest Cash Flow

1.67

YEARS SAVED

$4,473

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,050

    LIST RENT
  • $1

    LIST RENT PER SQFT
  • $2,088

    COMP ESTIMATED VALUE
  • $1.02

    COMP AVG. RENT PER SQFT
Comps Range
$1,850
1$1,8502$2,0503$2,0954$2,1005$2,199
$2,199
RENT COMPS ANALYSIS
  • 6601 Woodmere Court Denton, TX 2
    • 3 beds 2 baths ∙ 2,057 Sqft ∙ Built 2020 3 beds 2 baths ∙ 2,057 Sqft ∙ Built 2020
    • Rent
    • Rent Per SQFT
    •  
    • $2,050
    • $1.00
    •  
  • 9804 Garden Court Denton, TX 1
    • 4 beds 2 baths ∙ 2,012 Sqft ∙ Built 2005 4 beds 2 baths ∙ 2,012 Sqft ∙ Built 2005
    LEASED 04/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.92
    •  
  • 6000 Parkplace Drive Denton, TX 3
    • 4 beds 2 baths ∙ 2,034 Sqft ∙ Built 2009 4 beds 2 baths ∙ 2,034 Sqft ∙ Built 2009
    LEASED 07/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,095
    • $1.03
    •  
  • 5700 Balmorhea Drive Denton, TX 4
    • 4 beds 2 baths ∙ 2,046 Sqft ∙ Built 2013 4 beds 2 baths ∙ 2,046 Sqft ∙ Built 2013
    LEASED 05/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.03
    •  
  • 6520 Meandering Creek Drive Denton, TX 5
    • 3 beds 2 baths ∙ 2,041 Sqft ∙ Built 2018 3 beds 2 baths ∙ 2,041 Sqft ∙ Built 2018
    LEASED 08/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,199
    • $1.08
    •  
PROPERTY LISTING DETAILS
April Maki
Gehan Homes Brokerage, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14485971
Last Updated: 12/14/2020
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