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9005 Crestview Drive Denton, TX 76207

4 Beds 3 Baths 3,176 sqft Built 2004

$620,000

List Price

$2,400

$2.2K - $2.6K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 20, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2004
  • Price/Sqft : $195.21
  • 2 Days on Market
  • MLS # : 14536531
  • Updated Date : 03/20/2021 at 13:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 3,176 sqft
  • Baths : 2 full , 1 half
Listing Agent

Coldwell Banker Realty

Listing Agent's Description

This elegant Marabella plan on a terrific golf course lot features a huge chef's kitchen with double ovens, massive island, under-over counter lighting, abundant cabinets, and gleaming granite counters. Open to the kitchen is the large family room with stone wall fireplace. A gracious dining room, study, giant master suite with remodeled bath (2018), and big guest bedroom complete the first floor. Up finds a bedroom, a flex room, and huge walk-in attic. The wood floors, plantation shutters, upgraded lighting and ceiling fans, exquisite custom built-ins and bookcases are stunning. A 3 car garage, fenced golf course back yard, stone walkway, gas stub for outdoor grill, and gutter guards make this a great home.

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

Zip Code: 76207

ZipNIR Market*CityMarket2010Year20002019120k130k140k150k160k170k180k190k200k210k220k230k240k250k260kPrice in $115k261k

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

Zip Code: 76207

ZipNIR Market*CityMarket2010Year20002019 Q29001000110012001300140015001600170018001900Rent in $8701907

* 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
Borman Elementary School Primary Regular 458 41 5
Carroll Mcmath Middle School Middle Regular 741 55 6
Denton High School High Regular 2,166 140 6

Borman Elementary School

  • Education Level: Primary
  • # of students: 458
  • # of teachers: 41
5
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
 

$558,000$682,000$620,000

PURCHASE PRICE

$2,160$2,640$2,400

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,400
EXPENSES Loan Payment -$2,153
Property Tax -$1,233
Property Insurance -$211
HOA -$285
Property Management Fees -$99
CASH FLOW
-$1,581

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 14% of earned rent to cover both maintenance and periods of vacancy.

$620,000

PROJECTED PRICE

$2,400

PROJECTED RENT

0.39%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 8.6%
Maintenance Year (1-5) 8.00%
Vacancy 6.39%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$500k$1.0M$1.5M$2.0M

PROJECTED ANNUAL CASH FLOW

11530-$25k-$20k-$15k-$10k-$5.0k$0.0

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$500k$1.0M$1.5M$2.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$170,050

INVESTMENT

$170,050

Down Payment
$155,000
Rehab Estimate
$5,750
Closing Costs
$9,300

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 100% down payment or higher enables the proceeds from the asset to cover all costs.

$2,153

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $155,000
Loan Amount $465,000
See What Happens When You Reinvest Cash Flow

-0.33

YEARS SAVED

$3,246

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,400

    LIST RENT
  • $0.76

    LIST RENT PER SQFT
  • $2,668

    COMP ESTIMATED VALUE
  • $0.84

    COMP AVG. RENT PER SQFT
Comps Range
$2,400
1$2,4002$2,500
$2,500
RENT COMPS ANALYSIS
  • 9005 Crestview Drive Denton, TX 1
    • 4 beds 4 baths ∙ 3,176 Sqft ∙ Built 2004 4 beds 4 baths ∙ 3,176 Sqft ∙ Built 2004
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $0.76
    •  
  • 11404 Ridgedale Court Denton, TX 2
    • 4 beds 3 baths ∙ 2,965 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,965 Sqft ∙ Built 2006
    LEASED 12/30/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.84
    •  
PROPERTY LISTING DETAILS
Lori Slocum
Coldwell Banker Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14536531
Last Updated: 03/20/2021
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