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8004 Bishop Pine Road Denton, TX 76208

6 Beds 4 Baths 4,255 sqft Built 2013

INVESTimate

$434,900

List Price

$2,760

$2,510 - $3,010

Rent Est.

$460,472  ( +5.88%)   1 YR EST. FORECAST

PROPERTY INFO

August 19, 2020 RECENTLY ADDED
FACTS
  • Built In 2013
  • Price/Sqft : $102.21
  • 8 Days on Market
  • MLS # : 14416752
  • Updated Date : 08/24/2020 at 12:43
CONSTRUCTION
  • Beds : 6
  • Floor Size : 4,255 sqft
  • Baths : 4 full
Listing Agent

Real Estate Station Llc

Listing Agent's Description

*$2,000 BUYERS AGENT BONUS OFFERED AT CLOSING!! PRICE REDUCED!! PERFECT for a large or growing family with plenty of room inside and out! This beautiful home boasts 6 huge bedrooms (2 down-4 up),4 baths, formal dining, formal LR, lg family rm w WBFP w gas logs, spacious kitchen open to LR and includes ss 4 burner gas cooktop, BI Microwave, dishwasher, dbl ovens, granite counters and lg breakfast area. Master ste has added mini-split AC sys, dual vanities, garden tub, sep shower, huge gameroom and media rm up (equip and furniture negotiable). Enjoy family time in giant back yard w lg wrap around back porch! Upgrades include roof '2018,Hive sprinkler control, Nest T-stats,ring doorbell, tankless waterheater,etc.

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: The Preserve at Pecan Creek

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $115k336k

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

Neighborhood: The Preserve at Pecan Creek

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
Pecan Creek Elementary School Primary Regular 693 48 7
Bettye Myers Middle School Middle Unknown 828 54 NA
Billy Ryan High School High Regular 2,409 170 5

Pecan Creek Elementary School

  • Education Level: Primary
  • # of students: 693
  • # of teachers: 48
7
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
 

$391,410$478,390$434,900

PURCHASE PRICE

$2,484$3,036$2,760

RENT

DOWN PAYMENT
FINANCING

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-$5.0k$0.0$5.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,760
EXPENSES Loan Payment -$1,605
Property Tax -$865
Property Insurance -$273
HOA -$38
Property Management Fees -$99
CASH FLOW
-$119

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.

$434,900

PROJECTED PRICE

$2,760

PROJECTED RENT

0.63%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 5.88%
Maintenance Year (1-5) 8.00%
Vacancy 6.93%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$120,999

INVESTMENT

$120,999

Down Payment
$108,725
Rehab Estimate
$5,750
Closing Costs
$6,524

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,605

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $108,725
Loan Amount $326,175
See What Happens When You Reinvest Cash Flow

3.25

YEARS SAVED

$13,881

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,760

    LIST RENT
  • $0.65

    LIST RENT PER SQFT
  • $2,638

    COMP ESTIMATED VALUE
  • $0.62

    COMP AVG. RENT PER SQFT
Comps Range
$2,450
1$2,4502$2,760
$2,760
RENT COMPS ANALYSIS
  • 8004 Bishop Pine Road Denton, TX 2
    • 6 beds 4 baths ∙ 4,255 Sqft ∙ Built 2013 6 beds 4 baths ∙ 4,255 Sqft ∙ Built 2013
    • Rent
    • Rent Per SQFT
    •  
    • $2,760
    • $0.65
    •  
  • 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
    LEASED 06/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $0.62
    •  
PROPERTY LISTING DETAILS
Stacy Beavers
Real Estate Station Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14416752
Last Updated: 08/24/2020
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