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6 Rented Duplexes in Denton – 45 Mins North to Dallas

$ 299,000 Asking
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SOLD

Overview

  • Updated On:
  • March 10, 2021
  • 3 Bedrooms
  • 2 Bathrooms
  • 996.00 ft2
  • Year Built: 1996-99

Property Description

MUST-READ

  1. Great location with a high demand for rentals, and good schools
  2. The suggested Simply Do It (SDI) offer/prices are based on group purchases and multiple offers submitted to the same seller – GROUP POWER.
    1. Suggested offer Prices HAVE NOT been negotiated yet – prices are not confirmed
  3. Priority will be given to investor-buyers that are able to buy multiple duplexes. 
    1. One buyer can buy all 6, or  6 buyers can each buy one and anything in between
  4. The asking price is $299,000 – our goal is to offer $285,000 as a group
  5. Price is per duplex (ie $150,000 per door)
  6. Denton is super competitive and challenging to buy properties

Benefits

  • Strong local area in a very resilient metro (DFW)
  • Rented-occupied – collect rent from days one
  • Upside rent potential

Rents

  • Current rents are All units are  $825- $995
  • Market rents are estimated at $1200 – $1300

Next Steps

  1. Let SDI know which unit/s you are interested in
  2. Let us know if your offer is cash or financing, and your down payment
  3. Priority is given to SDI active investors
  4. Non-active investors would need to sign the SDI fee schedule and release – can be sent upon request
  5. Full address/location will be provided to active investors upon request
  6. Questions should be posted in the comments section below

Site Visits

Agent and property management plan to visit the site after we have accepted offers.

Properties Info

  • 6 are standalone single-story duplex’s – rented/occupied
  • Totaling 12 units
  • All 3 beds, 2 baths
  • Originally built between 1996-99
  • have had numerous upgrades during the past 5 years
  • Each Unit comes equipped with a fridge, dishwasher, stove/oven range, and laundry hook ups
  • High nine-foot ceilings
  • Laminate floors in common living areas, with upgraded carpet in all bedrooms, faux granite countertops, upgraded lighting fixtures, and fans in all rooms
  • Parking: Ample – Spots on Site, and Street parking

Rent

Unit # Sq Ft Monthly Rent
01 995 $825
05 995 $895
Total 1990 $1,720
33 995 $995
37 995 $895
Total 1990 $1,890
9 995 $925
13 995 $995
Total 1990 $1,920
17 995 $995
21 995 $995
Total 1990 $1,990
20 995 $995
24 995 $895
Total 1990 $1,890
25 995 $995
29 995 $825
Total 1990 $1,820

 

Rent COMPs

Comps

 

Analysis

Analysis assumptions are:

  • 25% down-payment
  • Market value rent (not current rents)

 

 

 

Duplexes Analysis

 

FAQ

  • Has lease/rent validation been performed by Simply Do It or its local agent?
    • Not yet. But more lease research will be done after we have contracts.
  • Any Sec. 8 or similar type of tenants?
    •  We don’t know yet – lease research will be done after we have contracts.
  • Can I buy with a mortgage?
    • Yes, and we have preferred lenders for you to use if you wish
  • Do you know the condition of each unit internally?
    • Not yet
  • Do you have a local property manager we can use?
    • Yes, we sure do
  • Can I buy cash?
    • Yes, of course
  • Can I buy more than 1 duplex?
    • Yes

 

Population/Area Growth

According to U.S. Census Bureau 2012 population estimates, the City of Denton has a population of 121,123 and has experienced a 6.8 percent increase in growth from 2010 to 2012.

In 2011, Denton was ranked 7th among the fastest-growing cities, with populations of 100,000 or greater.

The City of Denton experienced an increase in growth from 2000 to 2010 at a rate of 40.8% compared with county and state rates of 53.0% and 20.6%, respectively.

Denton was ranked in the top twenty-five of the fastest-growing cities in the nation, with a population over 100,000, in 2009 and 2008.

Area Characteristics

The City of Denton currently encompasses a landmass of 94.9 square miles and is situated north of the DFW metroplex where Interstate 35 E and 35W intersect.

According to U.S. Census Bureau in 2010 and City of Denton square mile figures, the City has a population of 113,383 with a population density of 1,194.8 persons per square mile.

Regional Access

Located 45 minutes northwest of Dallas at the convergence of I-35E and I-35W, Denton is the place where your business will benefit from access to DFW International Airport, Denton Airport , DART, I-35, US Hwy 380, skilled labor, workforce training resources, and a population of over six million people in the rapidly growing DFW Metro Area. The Dallas- Fort Worth economy is strong. The metro area’s unemployment rate has consistently remained well-below national norms over the past two decades while adding more than 800,000 jobs.

 

 

Disclaimer

Information contained herein was obtained from sources deemed reliable, however, Simply Do It and/or the owner(s) of the property make no guarantees, warranties or representation as to the completeness or accuracy thereof. The presentation of the property is offered subject to errors, omissions, changes in price and/or terms, prior sale or lease or removal from the market for any reason without notice.

The analysis is provided “As Is”. All the information is believed to be accurate (except for the small effects of some simplifying assumptions), but is not guaranteed, and depends on the values entered for the property. This analysis is intended for the purpose of illustrative projections. The information provided is not intended to replace or substitute for any legal, accounting, investment, real estate, tax, or other professional advice, consultation, or service. Simply Do It and/or the owner(s) are not responsible nor liable for any damages arising from the use of the analysis info.

Documents
State/County:
Zip: 76051
Country: United States
Open In Google Maps
Property Id : 29170
Price: $ 299,000 Asking
Property Size: 996.00 ft2
Bedrooms: 3
Bathrooms: 2
Year Built: 1996-99
Insurance (mo): 125
Repairs (mo): 130
Management Fee (mo): 200
Leasing Fee (ann): 1000
HOA (mo): 0
Vacancy Rate (ann): 4

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