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8904 Conroe Drive Denton, TX 76226

3 Beds 2 Baths 1,840 sqft Built 2021

$343,990

List Price

$1,980

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

Built 2021 NEW CONSTRUCTION
December 14, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2021
  • Price/Sqft : $186.95
  • 7 Days on Market
  • MLS # : 14486257
  • Updated Date : 12/14/2020 at 19:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,840 sqft
  • Baths : 2 full
Listing Agent

Classic Property Management

Listing Agent's Description

Beautiful Bloomfield Home Available March 2021! Oversized Lot, Gas Tub for Grill, with Front and Back Covered Porch & Patio. Gorgeous Kitchen with painted Shaker Cabinets, Quartz Countertops and upgraded backsplash. Modern Gas Fireplace with tile and painted mantel. Laminate floors flowing throughout open floorplan. Study with Glass French doors off entry. Plenty of windows bring in natural light. Laundry Room. Home includes Full Fencing, Landscaping and Sprinkler System. You'll be impressed by the detail and craftmanship of Bloomfield. Community amenities include Playground, Park, Pool, Trails, and Pond. Call to learn more!

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: Country Lakes North

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $115k336k

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

Neighborhood: Country Lakes North

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
W.s. Ryan Elementary School Primary Regular 588 44 6
Carroll Mcmath Middle School Middle Regular 741 55 6
Denton High School High Regular 2,166 140 6

W.s. Ryan Elementary School

  • Education Level: Primary
  • # of students: 588
  • # of teachers: 44
6
GreatSchools Rating

Carroll Mcmath Middle School

  • Education Level: Middle
  • # of students: 741
  • # of teachers: 55
6
GreatSchools Rating

Denton High School

  • Education Level: High
  • # of students: 2,166
  • # of teachers: 140
6
GreatSchools Rating
 

$309,591$378,389$343,990

PURCHASE PRICE

$1,782$2,178$1,980

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,980
EXPENSES Loan Payment -$1,269
Property Tax -$684
Property Insurance -$134
HOA -$61
Property Management Fees -$99
CASH FLOW
-$266

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 10% of earned rent to cover both maintenance and periods of vacancy.

$343,990

PROJECTED PRICE

$1,980

PROJECTED RENT

0.58%

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) 3.00%
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-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$93,157

INVESTMENT

$93,157

Down Payment
$85,998
Rehab Estimate
$2,000
Closing Costs
$5,160

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,269

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $85,998
Loan Amount $257,993
See What Happens When You Reinvest Cash Flow

1.33

YEARS SAVED

$2,709

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,980

    LIST RENT
  • $1.08

    LIST RENT PER SQFT
  • $1,992

    COMP ESTIMATED VALUE
  • $1.08

    COMP AVG. RENT PER SQFT
Comps Range
$1,700
1$1,7002$1,8753$1,8954$1,9805$2,095
$2,095
RENT COMPS ANALYSIS
  • 8904 Conroe Drive Denton, TX 4
    • 3 beds 2 baths ∙ 1,840 Sqft ∙ Built 2021 3 beds 2 baths ∙ 1,840 Sqft ∙ Built 2021
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,980
    • $1.08
    •  
  • 9401 Athens Drive Denton, TX 1
    • 3 beds 2 baths ∙ 1,520 Sqft ∙ Built 2007 3 beds 2 baths ∙ 1,520 Sqft ∙ Built 2007
    property image
    LEASED 06/17/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $1.12
    •  
  • 6009 Meadowglen Drive Denton, TX 2
    • 3 beds 2 baths ∙ 1,706 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,706 Sqft ∙ Built 2004
    property image
    LEASED 09/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,875
    • $1.10
    •  
  • 5904 Meadowglen Drive Denton, TX 3
    • 3 beds 2 baths ∙ 1,756 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,756 Sqft ∙ Built 2003
    property image
    LEASED 07/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $1.08
    •  
  • 6000 Parkplace Drive Denton, TX 5
    • 4 beds 2 baths ∙ 2,034 Sqft ∙ Built 2009 4 beds 2 baths ∙ 2,034 Sqft ∙ Built 2009
    property image
    LEASED 07/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,095
    • $1.03
    •  
PROPERTY LISTING DETAILS
Marsha Ashlock
Classic Property Management
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14486257
Last Updated: 12/14/2020
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