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9021 Gardenia Drive Denton, TX 76207

3 Beds 3 Baths 3,158 sqft Built 2004

$625,000

List Price

$2,700

$2.5K - $3K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 24, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2004
  • Price/Sqft : $197.91
  • 6 Days on Market
  • MLS # : 14521118
  • Updated Date : 02/24/2021 at 12:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 3,158 sqft
  • Baths : 2 full , 1 half
Listing Agent

Era Cornerstone Realty

Listing Agent's Description

Beautiful Marbella plan on great golf course lot! Great landscape with view of golf course, outside kitchen on patio. Plenty of cabinet space with pull-out shelves in kitchen with island. Three living areas, two dining areas. Master down with huge bath and walk-in closet. Extended 3 car garage. Superior upgrades - wooden plantation shutters, automatic shades, new roof (2016), lighting inside and out, Nest thermostat. Shows like a model home! Completely updated! New hardwood floors, paint, and carpet!

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: 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
 

$562,500$687,500$625,000

PURCHASE PRICE

$2,430$2,970$2,700

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,700
EXPENSES Loan Payment -$2,171
Property Tax -$1,243
Property Insurance -$210
HOA -$264
Property Management Fees -$99
CASH FLOW
-$1,286

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.

$625,000

PROJECTED PRICE

$2,700

PROJECTED RENT

0.43%

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$171,375

INVESTMENT

$171,375

Down Payment
$156,250
Rehab Estimate
$5,750
Closing Costs
$9,375

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$2,171

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $156,250
Loan Amount $468,750
See What Happens When You Reinvest Cash Flow

-0.25

YEARS SAVED

-$81

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,700

    LIST RENT
  • $0.85

    LIST RENT PER SQFT
  • $2,653

    COMP ESTIMATED VALUE
  • $0.84

    COMP AVG. RENT PER SQFT
Comps Range
$2,500
1$2,5002$2,700
$2,700
RENT COMPS ANALYSIS
  • 9021 Gardenia Drive Denton, TX 2
    • 3 beds 3 baths ∙ 3,158 Sqft ∙ Built 2004 3 beds 3 baths ∙ 3,158 Sqft ∙ Built 2004
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $0.85
    •  
  • 11404 Ridgedale Court Denton, TX 1
    • 4 beds 3 baths ∙ 2,965 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,965 Sqft ∙ Built 2006
    property image
    LEASED 12/30/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.84
    •  
PROPERTY LISTING DETAILS
Donald Lucky
Era Cornerstone Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14521118
Last Updated: 02/24/2021
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