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909 Cruise Street Denton, TX 76207

3 Beds 2 Baths 1,248 sqft Built 2002

$225,000

List Price

$1,510

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

December 25, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2002
  • Price/Sqft : $180.29
  • 3 Days on Market
  • MLS # : 14490635
  • Updated Date : 12/24/2020 at 23:42
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,248 sqft
  • Baths : 2 full
Listing Agent

Fathom Realty, Llc

Listing Agent's Description

Charming 3 bedroom 1 story home in North Denton, won't last long! New roof, new HVAC, new paint, new flooring and granite countertops all in last 90 days. Driveway repaired in September 2020. Conveniently located close to schools and shopping.

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

Neighborhood: Forman Williamsburg Square

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240kPrice in $91k247k

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

Neighborhood: Forman Williamsburg Square

NeighborhoodNIR Market*CityMarket2010Year20002019 Q280090010001100120013001400150016001700Rent in $7681769

* 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
Ginnings Elementary School Primary Regular 619 48 5
Strickland Middle School Middle Regular 899 65 5
Billy Ryan High School High Regular 2,409 170 5

Ginnings Elementary School

  • Education Level: Primary
  • # of students: 619
  • # of teachers: 48
5
GreatSchools Rating

Strickland Middle School

  • Education Level: Middle
  • # of students: 899
  • # of teachers: 65
5
GreatSchools Rating

Billy Ryan High School

  • Education Level: High
  • # of students: 2,409
  • # of teachers: 170
5
GreatSchools Rating
 

$202,500$247,500$225,000

PURCHASE PRICE

$1,359$1,661$1,510

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,510
EXPENSES Loan Payment -$830
Property Tax -$447
Property Insurance -$99
Property Management Fees -$99
CASH FLOW
$34

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.

$225,000

PROJECTED PRICE

$1,510

PROJECTED RENT

0.67%

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$100k$200k$300k$400k$500k$600k$700k$800k

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$65,375

INVESTMENT

$65,375

Down Payment
$56,250
Rehab Estimate
$5,750
Closing Costs
$3,375

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$830

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $56,250
Loan Amount $168,750
See What Happens When You Reinvest Cash Flow

5.5

YEARS SAVED

$15,861

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,510

    LIST RENT
  • $1.21

    LIST RENT PER SQFT
  • $1,507

    COMP ESTIMATED VALUE
  • $1.21

    COMP AVG. RENT PER SQFT
Comps Range
$1,500
1$1,5002$1,5103$1,5504$1,5505$1,750
$1,750
RENT COMPS ANALYSIS
  • 909 Cruise Street Denton, TX 2
    • 3 beds 2 baths ∙ 1,248 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,248 Sqft ∙ Built 2002
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,510
    • $1.21
    •  
  • 1105 Savage Drive Denton, TX 1
    • 3 beds 2 baths ∙ 1,314 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,314 Sqft ∙ Built 2005
    property image
    LEASED 07/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $1.14
    •  
  • 820 Savage Drive Denton, TX 3
    • 3 beds 2 baths ∙ 1,248 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,248 Sqft ∙ Built 2002
    property image
    LEASED 05/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $1.24
    •  
  • 816 Savage Drive Denton, TX 4
    • 3 beds 2 baths ∙ 1,327 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,327 Sqft ∙ Built 2004
    property image
    LEASED 09/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $1.17
    •  
  • 906 Savage Drive Denton, TX 5
    • 3 beds 2 baths ∙ 1,368 Sqft ∙ Built 2000 3 beds 2 baths ∙ 1,368 Sqft ∙ Built 2000
    property image
    LEASED 08/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $1.28
    •  
PROPERTY LISTING DETAILS
Tiffany Bachman
Fathom Realty, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14490635
Last Updated: 12/24/2020
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