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6904 Edgefield Drive Denton, TX 76210

4 Beds 3 Baths 2,357 sqft Built 2004

$312,000

List Price

$1,990

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

December 19, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2004
  • Price/Sqft : $132.37
  • 2 Days on Market
  • MLS # : 14481851
  • Updated Date : 12/19/2020 at 03:42
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,357 sqft
  • Baths : 2 full , 1 half
Listing Agent

Grisham Property Services, Llc

Listing Agent's Description

Beautiful 4 bedroom, 2.5 bath home with primary bedroom and study downstairs, three bedrooms and loft area up. Kitchen has stainless steel appliances and lots of cabinets and countertop space to prepare and enjoy those holiday meals in the formal dining room. Tall ceilings and open floorplan between kitchen and living area. New fences, updated landscaping, and attention to detail shows how well-kept this house has been. Long driveway around half cul de sac allows for ample parking for guests.

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

Neighborhood: Ryan Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $115k336k

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

Neighborhood: Ryan Ranch

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
Mcnair Elementary School Primary Regular 573 41 7
Harpool Middle School Middle Regular 914 61 9
John H. Guyer High School High Regular 2,395 162 8

Mcnair Elementary School

  • Education Level: Primary
  • # of students: 573
  • # of teachers: 41
7
GreatSchools Rating

Harpool Middle School

  • Education Level: Middle
  • # of students: 914
  • # of teachers: 61
9
GreatSchools Rating

John H. Guyer High School

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

$280,800$343,200$312,000

PURCHASE PRICE

$1,791$2,189$1,990

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,990
EXPENSES Loan Payment -$1,151
Property Tax -$620
Property Insurance -$163
HOA -$21
Property Management Fees -$99
CASH FLOW
-$65

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.

$312,000

PROJECTED PRICE

$1,990

PROJECTED RENT

0.64%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 6.9%
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$1.0M

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$200k$400k$600k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$88,430

INVESTMENT

$88,430

Down Payment
$78,000
Rehab Estimate
$5,750
Closing Costs
$4,680

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,151

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $78,000
Loan Amount $234,000
See What Happens When You Reinvest Cash Flow

3.58

YEARS SAVED

$12,028

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,990

    LIST RENT
  • $0.84

    LIST RENT PER SQFT
  • $2,139

    COMP ESTIMATED VALUE
  • $0.91

    COMP AVG. RENT PER SQFT
Comps Range
$1,950
1$1,9502$1,9903$1,9954$2,1505$2,200
$2,200
RENT COMPS ANALYSIS
  • 6904 Edgefield Drive Denton, TX 2
    • 4 beds 3 baths ∙ 2,357 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,357 Sqft ∙ Built 2004
    • Rent
    • Rent Per SQFT
    •  
    • $1,990
    • $0.84
    •  
  • 325 Cypress Creek Lane Denton, TX 1
    • 4 beds 2 baths ∙ 2,222 Sqft ∙ Built 2018 4 beds 2 baths ∙ 2,222 Sqft ∙ Built 2018
    LEASED 06/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.88
    •  
  • 309 Cypress Creek Lane Denton, TX 3
    • 3 beds 2 baths ∙ 2,222 Sqft ∙ Built 2018 3 beds 2 baths ∙ 2,222 Sqft ∙ Built 2018
    LEASED 07/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.90
    •  
  • 4405 Chicory Court Denton, TX 4
    • 4 beds 2 baths ∙ 2,223 Sqft ∙ Built 2018 4 beds 2 baths ∙ 2,223 Sqft ∙ Built 2018
    LEASED 06/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $0.97
    •  
  • 4520 Eaglestone Way Denton, TX 5
    • 4 beds 3 baths ∙ 2,504 Sqft ∙ Built 2019 4 beds 3 baths ∙ 2,504 Sqft ∙ Built 2019
    LEASED 10/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.88
    •  
PROPERTY LISTING DETAILS
Jay Grisham
Grisham Property Services, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14481851
Last Updated: 12/19/2020
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