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7712 Castle Pines Lane Denton, TX 76208

3 Beds 3 Baths 2,561 sqft Built 2020

$419,306

List Price

$2,030

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
November 11, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2020
  • Price/Sqft : $163.73
  • 5 Days on Market
  • MLS # : 14469932
  • Updated Date : 11/13/2020 at 17:11
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,561 sqft
  • Baths : 3 full
Listing Agent

Homesusa.com

Listing Agent's Description

MLS# 14469932 - Built by First Texas Homes - February completion! ~ A custom floor plan with great additions. This home has a California Kitchen, open to the family room. Lots of decorative tile. Gutters will be included. Smart Home with surround sound prewire! Outstanding Value!

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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

Zip Code: 76208

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260kPrice in $115k276k

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

Zip Code: 76208

ZipNIR Market*CityMarket2010Year20002019 Q29001000110012001300140015001600170018001900Rent in $8701937

* 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
Olive Stephens Elementary School Primary Regular 536 38 6
Bettye Myers Middle School Middle Unknown 828 54 NA
Billy Ryan High School High Regular 2,409 170 5

Olive Stephens Elementary School

  • Education Level: Primary
  • # of students: 536
  • # of teachers: 38
6
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
 

$377,375$461,237$419,306

PURCHASE PRICE

$1,827$2,233$2,030

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,030
EXPENSES Loan Payment -$1,547
Property Tax -$834
Property Insurance -$175
HOA -$38
Property Management Fees -$99
CASH FLOW
-$663

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 9% of earned rent to cover both maintenance and periods of vacancy.

$419,306

PROJECTED PRICE

$2,030

PROJECTED RENT

0.48%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 7.8%
Maintenance Year (1-5) 3.00%
Vacancy 6.39%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

PROJECTED ANNUAL CASH FLOW

11530-$12k-$10k-$8.0k-$6.0k-$4.0k-$2.0k$0.0

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$113,116

INVESTMENT

$113,116

Down Payment
$104,827
Rehab Estimate
$2,000
Closing Costs
$6,290

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 75% down payment or higher enables the proceeds from the asset to cover all costs.

$1,547

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $104,827
Loan Amount $314,480
See What Happens When You Reinvest Cash Flow

0

YEARS SAVED

$23

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,030

    LIST RENT
  • $0.79

    LIST RENT PER SQFT
  • $2,055

    COMP ESTIMATED VALUE
  • $0.8

    COMP AVG. RENT PER SQFT
Comps Range
$1,695
1$1,6952$1,9003$1,9504$2,0305$2,300
$2,300
RENT COMPS ANALYSIS
  • 7712 Castle Pines Lane Denton, TX 4
    • 3 beds 3 baths ∙ 2,561 Sqft ∙ Built 2019 3 beds 3 baths ∙ 2,561 Sqft ∙ Built 2019
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,030
    • $0.79
    •  
  • 4604 Redbud Drive Denton, TX 1
    • 4 beds 2 baths ∙ 2,263 Sqft ∙ Built 2006 4 beds 2 baths ∙ 2,263 Sqft ∙ Built 2006
    property image
    LEASED 11/18/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.75
    •  
  • 4601 Fox Sedge Lane Denton, TX 2
    • 3 beds 3 baths ∙ 2,313 Sqft ∙ Built 2005 3 beds 3 baths ∙ 2,313 Sqft ∙ Built 2005
    property image
    LEASED 11/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.82
    •  
  • 4605 Fox Sedge Lane Denton, TX 3
    • 4 beds 3 baths ∙ 2,451 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,451 Sqft ∙ Built 2005
    property image
    LEASED 05/26/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.80
    •  
  • 7912 Bishop Pine Road Denton, TX 5
    • 4 beds 3 baths ∙ 2,727 Sqft ∙ Built 2016 4 beds 3 baths ∙ 2,727 Sqft ∙ Built 2016
    property image
    LEASED 05/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.84
    •  
PROPERTY LISTING DETAILS
Ben Caballero
Homesusa.com
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14469932
Last Updated: 11/13/2020
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