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6808 Algarve Drive Denton, TX 76210

3 Beds 2 Baths 1,861 sqft Built 2007

$279,000

List Price

$1,820

$1.6K - $2K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 10, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2007
  • Price/Sqft : $149.92
  • 5 Days on Market
  • MLS # : 14521341
  • Updated Date : 03/10/2021 at 00:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,861 sqft
  • Baths : 2 full
Listing Agent

Flex Team Realty

Listing Agent's Description

Corinth boarder, ACTIVE ADULT COMMUNITY! Greens of Oakmont 55+ Community in Denton! Wide, quiet streets, peaceful friendly neighbors, Sellers love the home! Planted Apple, pear, peach and fig tree. Solid neighborhood, not many homes for sale. Close to the 18 hole golf course, offers membership to the Country Club. Beautiful home that will not last long! Sunroom in Back, the length of the house! Open floor plan.3 bedroom, 2 bath home, and study, Well maintained home, Fidelity Home warranty in place for Buyers! HOA includes front and back grass cutting, one of the many amenities, Easy access to 35, Hospitals, restaurants, malls and casino's, Verify all room sizes. Showings to start Sat the 13th at 1:00 to 3:00.

SEE MORE

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: Greens of Oakmont

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $115k336k

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

Neighborhood: Greens of Oakmont

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
L.a. Nelson Elementary School Primary Regular 655 43 7
Crownover Middle School Middle Regular 938 59 8
John H. Guyer High School High Regular 2,395 162 8

L.a. Nelson Elementary School

  • Education Level: Primary
  • # of students: 655
  • # of teachers: 43
7
GreatSchools Rating

Crownover Middle School

  • Education Level: Middle
  • # of students: 938
  • # of teachers: 59
8
GreatSchools Rating

John H. Guyer High School

  • Education Level: High
  • # of students: 2,395
  • # of teachers: 162
8
GreatSchools Rating
 

$251,100$306,900$279,000

PURCHASE PRICE

$1,638$2,002$1,820

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,820
EXPENSES Loan Payment -$969
Property Tax -$555
Property Insurance -$135
HOA -$84
Property Management Fees -$99
CASH FLOW
-$22

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.

$279,000

PROJECTED PRICE

$1,820

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

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$79,685

INVESTMENT

$79,685

Down Payment
$69,750
Rehab Estimate
$5,750
Closing Costs
$4,185

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$969

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $69,750
Loan Amount $209,250
See What Happens When You Reinvest Cash Flow

3.83

YEARS SAVED

$10,181

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,820

    LIST RENT
  • $0.98

    LIST RENT PER SQFT
  • $1,819

    COMP ESTIMATED VALUE
  • $0.98

    COMP AVG. RENT PER SQFT
Comps Range
$1,750
1$1,7502$1,8003$1,8204$1,8505$1,900
$1,900
RENT COMPS ANALYSIS
  • 6808 Algarve Drive Denton, TX 3
    • 3 beds 2 baths ∙ 1,861 Sqft ∙ Built 2007 3 beds 2 baths ∙ 1,861 Sqft ∙ Built 2007
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,820
    • $0.98
    •  
  • 3908 Luck Hole Drive Denton, TX 1
    • 3 beds 2 baths ∙ 1,860 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,860 Sqft ∙ Built 2004
    property image
    LEASED 11/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.94
    •  
  • 5917 Thoroughbred Trail Denton, TX 2
    • 3 beds 2 baths ∙ 1,860 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,860 Sqft ∙ Built 2005
    property image
    LEASED 02/06/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.97
    •  
  • 1702 Sunflower Drive Corinth, TX 4
    • 3 beds 2 baths ∙ 1,893 Sqft ∙ Built 2001 3 beds 2 baths ∙ 1,893 Sqft ∙ Built 2001
    property image
    LEASED 09/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.98
    •  
  • 6400 Penina Trail Denton, TX 5
    • 3 beds 2 baths ∙ 1,860 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,860 Sqft ∙ Built 2003
    property image
    LEASED 09/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $1.02
    •  
PROPERTY LISTING DETAILS
Barbara Capobianco
Flex Team Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14521341
Last Updated: 03/10/2021
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