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921 Abbots Lane Denton, TX 76205

3 Beds 3 Baths 2,864 sqft Built 1998

$364,250

List Price

$2,180

$2K - $2.4K

Rent Est.

PROPERTY INFO

February 04, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1998
  • Price/Sqft : $127.18
  • 4 Days on Market
  • MLS # : 14512725
  • Updated Date : 02/06/2021 at 17:51
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,864 sqft
  • Baths : 3 full
Listing Agent

Fathom Realty, Llc

Listing Agent's Description

Multiple Offers! Highest and best by Sunday at 7pm. NO HOA! Welcome Home to this beautiful rare find in South Denton. The open floor plan allows plenty of sunshine to fill the spacious living room and oversized kitchen with an island. Enjoy entertaining family and friends in the large dining room with attached den. Working from home? We've got you covered with an office. The bonus room is perfect for a mother-in-law suite with tons of built-ins and a Murphy bed. You'll love the private backyard oasis with a heated pool and plenty of room for backyard cookouts or to just enjoy that morning coffee. Located within minutes from I-35 and walking distance to schools and Eureka Park.

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

Neighborhood: Crown Oaks

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $115k336k

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

Neighborhood: Crown Oaks

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
Houston Elementary School Primary Regular 583 43 6
Carroll Mcmath Middle School Middle Regular 741 55 6
Denton High School High Regular 2,166 140 6

Houston Elementary School

  • Education Level: Primary
  • # of students: 583
  • # of teachers: 43
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
 

$327,825$400,675$364,250

PURCHASE PRICE

$1,962$2,398$2,180

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,180
EXPENSES Loan Payment -$1,265
Property Tax -$724
Property Insurance -$193
Property Management Fees -$99
CASH FLOW
-$101

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 15% of earned rent to cover both maintenance and periods of vacancy.

$364,250

PROJECTED PRICE

$2,180

PROJECTED RENT

0.60%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 8.4%
Maintenance Year (1-5) 8.00%
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

PROJECTED ANNUAL CASH FLOW

11530-$6.0k-$4.0k-$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$200k$400k$600k$800k$1.0M$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$102,276

INVESTMENT

$102,276

Down Payment
$91,063
Rehab Estimate
$5,750
Closing Costs
$5,464

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,265

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $91,063
Loan Amount $273,188
See What Happens When You Reinvest Cash Flow

3.08

YEARS SAVED

$9,342

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,180

    LIST RENT
  • $0.76

    LIST RENT PER SQFT
  • $2,234

    COMP ESTIMATED VALUE
  • $0.78

    COMP AVG. RENT PER SQFT
Comps Range
$2,100
1$2,1002$2,1803$2,2994$2,3955$2,400
$2,400
RENT COMPS ANALYSIS
  • 921 Abbots Lane Denton, TX 2
    • 3 beds 3 baths ∙ 2,864 Sqft ∙ Built 1998 3 beds 3 baths ∙ 2,864 Sqft ∙ Built 1998
    • Rent
    • Rent Per SQFT
    •  
    • $2,180
    • $0.76
    •  
  • 2521 Great Bear Lane Denton, TX 1
    • 4 beds 3 baths ∙ 2,920 Sqft ∙ Built 2001 4 beds 3 baths ∙ 2,920 Sqft ∙ Built 2001
    LEASED 03/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.72
    •  
  • 3300 Casa Grande Drive Denton, TX 3
    • 4 beds 3 baths ∙ 3,003 Sqft ∙ Built 2015 4 beds 3 baths ∙ 3,003 Sqft ∙ Built 2015
    LEASED 11/08/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,299
    • $0.77
    •  
  • 3505 Montecito Drive Denton, TX 4
    • 4 beds 3 baths ∙ 2,886 Sqft ∙ Built 1998 4 beds 3 baths ∙ 2,886 Sqft ∙ Built 1998
    LEASED 07/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,395
    • $0.83
    •  
  • 2805 Forrestridge Drive Denton, TX 5
    • 3 beds 2 baths ∙ 3,009 Sqft ∙ Built 1980 3 beds 2 baths ∙ 3,009 Sqft ∙ Built 1980
    LEASED 01/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $0.80
    •  
PROPERTY LISTING DETAILS
Jennifer Fowler
Fathom Realty, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14512725
Last Updated: 02/06/2021
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