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920 Elmwood Avenue Denton, TX 76210

3 Beds 3 Baths 2,131 sqft Built 2020

$474,993

List Price

$2,030

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
SINGLE-FAMILY
March 25, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2020
  • Price/Sqft : $222.90
  • 4 Days on Market
  • MLS # : 14540221
  • Updated Date : 03/25/2021 at 10:10
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,131 sqft
  • Baths : 2 full , 1 half
Listing Agent

Homesusa.com

Listing Agent's Description

MLS# 14540221 - Built by Rendition Homes - July completion! ~ Looking forward to summertime move in with modern style! Your 8 foot front door lures you into an impressive entryway while boasting gorgeous wood flooring and soft arches throughout the hallways. Your new abode will brighten your mood with crisp whites and grays throughout! Retreat to your extended covered patio and admire the Southern skies as the sun makes its way to the West each night. Marvel at the expansive master bedroom suite with a sitting area overlooking your gorgeous back yard. Call today to make it your own!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • # 1 in the country for job growth in 2017 (2.6% growth, 91,700 new jobs) (US Census, Forbes, 2017)

PRICE & RENT TRENDS

Zip Code: 76210

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $115k336k

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

Zip Code: 76210

ZipNIR 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
Crownover Middle School Middle Regular 938 59 8
John H. Guyer High School High Regular 2,395 162 8

W.s. Ryan Elementary School

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

Crownover Middle School

  • Education Level: Middle
  • # of students: 938
  • # of teachers: 59
8
GreatSchools Rating

John H. Guyer High School

  • Education Level: High
  • # of students: 2,395
  • # of teachers: 162
8
GreatSchools Rating
 

$427,494$522,492$474,993

PURCHASE PRICE

$1,827$2,233$2,030

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,030
EXPENSES Loan Payment -$1,650
Property Tax -$944
Property Insurance -$150
HOA -$67
Property Management Fees -$99
CASH FLOW
-$880

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.

$474,993

PROJECTED PRICE

$2,030

PROJECTED RENT

0.43%

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$1.2M$1.4M

PROJECTED ANNUAL CASH FLOW

11530-$16k-$14k-$12k-$10k-$8.0k-$6.0k-$4.0k-$2.0k$0.0

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$127,873

INVESTMENT

$127,873

Down Payment
$118,748
Rehab Estimate
$2,000
Closing Costs
$7,125

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,650

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $118,748
Loan Amount $356,245
See What Happens When You Reinvest Cash Flow

-0.17

YEARS SAVED

-$27

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,030

    LIST RENT
  • $0.95

    LIST RENT PER SQFT
  • $2,078

    COMP ESTIMATED VALUE
  • $0.98

    COMP AVG. RENT PER SQFT
Comps Range
$1,800
1$1,8002$1,9953$2,0304$2,1005$2,150
$2,150
RENT COMPS ANALYSIS
  • 920 Elmwood Avenue Denton, TX 3
    • 3 beds 3 baths ∙ 2,131 Sqft ∙ Built 2020 3 beds 3 baths ∙ 2,131 Sqft ∙ Built 2020
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,030
    • $0.95
    •  
  • 925 Stoneway Drive Denton, TX 1
    • 4 beds 2 baths ∙ 1,991 Sqft ∙ Built 2004 4 beds 2 baths ∙ 1,991 Sqft ∙ Built 2004
    property image
    LEASED 04/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.90
    •  
  • 4312 Lost Creek Road Denton, TX 2
    • 4 beds 2 baths ∙ 2,014 Sqft ∙ Built 2019 4 beds 2 baths ∙ 2,014 Sqft ∙ Built 2019
    property image
    LEASED 09/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.99
    •  
  • 4317 Chicory Court Denton, TX 4
    • 4 beds 2 baths ∙ 2,028 Sqft ∙ Built 2019 4 beds 2 baths ∙ 2,028 Sqft ∙ Built 2019
    property image
    LEASED 03/08/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.04
    •  
  • 4405 Chicory Court Denton, TX 5
    • 4 beds 2 baths ∙ 2,223 Sqft ∙ Built 2018 4 beds 2 baths ∙ 2,223 Sqft ∙ Built 2018
    property image
    LEASED 06/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $0.97
    •  
PROPERTY LISTING DETAILS
Ben Caballero
Homesusa.com
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14540221
Last Updated: 03/25/2021
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