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7720 Falcon Ridge Lane Denton, TX 76208

4 Beds 4 Baths 3,831 sqft Built 2020

$479,279

List Price

$2,670

$2.4K - $2.9K

Rent Est.

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
November 07, 2020 RECENTLY ADDED
FACTS
  • Built In 2020
  • Price/Sqft : $125.11
  • 2 Days on Market
  • MLS # : 14467572
  • Updated Date : 11/07/2020 at 12:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,831 sqft
  • Baths : 3 full , 1 half
Listing Agent

Homesusa.com

Listing Agent's Description

MLS# 14467572 - Built by First Texas Homes - Ready Now! ~ This spacious, move-in ready home comes with a grand entry, beautiful covered porch and back patio. Located in the highly desirable final stages of the Preserve at Pecan Creek, this home will not last long! Come see today!

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

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
 

$431,351$527,207$479,279

PURCHASE PRICE

$2,403$2,937$2,670

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,670
EXPENSES Loan Payment -$1,768
Property Tax -$953
Property Insurance -$249
HOA -$38
Property Management Fees -$99
CASH FLOW
-$437

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.

$479,279

PROJECTED PRICE

$2,670

PROJECTED RENT

0.56%

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$1.4M

PROJECTED ANNUAL CASH FLOW

11530-$10k-$8.0k-$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$1.0M$1.2M$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$129,009

INVESTMENT

$129,009

Down Payment
$119,820
Rehab Estimate
$2,000
Closing Costs
$7,189

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$1,768

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $119,820
Loan Amount $359,459
See What Happens When You Reinvest Cash Flow

0.67

YEARS SAVED

$1,852

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,670

    LIST RENT
  • $0.7

    LIST RENT PER SQFT
  • $2,707

    COMP ESTIMATED VALUE
  • $0.71

    COMP AVG. RENT PER SQFT
Comps Range
$2,450
1$2,4502$2,6703$2,7004$2,900
$2,900
RENT COMPS ANALYSIS
  • 7720 Falcon Ridge Lane Denton, TX 2
    • 4 beds 4 baths ∙ 3,831 Sqft ∙ Built 2020 4 beds 4 baths ∙ 3,831 Sqft ∙ Built 2020
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,670
    • $0.70
    •  
  • 3408 Camino Real Trail Denton, TX 1
    • 5 beds 4 baths ∙ 3,960 Sqft ∙ Built 2016 5 beds 4 baths ∙ 3,960 Sqft ∙ Built 2016
    property image
    LEASED 06/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $0.62
    •  
  • 6500 Edwards Road Denton, TX 3
    • 4 beds 4 baths ∙ 3,815 Sqft ∙ Built 2016 4 beds 4 baths ∙ 3,815 Sqft ∙ Built 2016
    property image
    LEASED 07/25/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $0.71
    •  
  • 7401 Valley Stream Road Denton, TX 4
    • 5 beds 4 baths ∙ 3,675 Sqft ∙ Built 2009 5 beds 4 baths ∙ 3,675 Sqft ∙ Built 2009
    property image
    LEASED 12/31/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,900
    • $0.79
    •  
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 #: 14467572
Last Updated: 11/07/2020
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