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1117 Elmwood Avenue Corsicana, TX 75110

3 Beds 2 Baths 1,468 sqft Built 2021

$191,000

List Price

$1,370

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

Built 2021 NEW CONSTRUCTION
SINGLE-FAMILY
February 17, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2021
  • Price/Sqft : $130.11
  • 5 Days on Market
  • MLS # : 14518781
  • Updated Date : 02/20/2021 at 12:08
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,468 sqft
  • Baths : 2 full
Listing Agent

Miller Homes Group Pllc

Listing Agent's Description

This brand new home can be yours by Summer! This home will be finished by the end of July. This is a special home designed for any size family. You will find that this 3 bedroom, 2 bath split floorplan will be a home that works well with any size family. Everything that you can imagine is included with this fantastic home, including: upgraded cabinets, granite counter tops, open floor plan, beautiful lot with a nice fence in the back. In this market, you need to act fast, it will not last long. Hurry and make your offer and you can choose your colors!

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

Zip Code: 75110

ZipNIR Market*CityMarket2010Year2000201960k70k80k90k100k110k120k130kPrice in $52k130k

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

Zip Code: 75110

No Data Available.

* 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
Corsicana High School High Regular 1,541 107 4

Corsicana High School

  • Education Level: High
  • # of students: 1,541
  • # of teachers: 107
4
GreatSchools Rating
 

$171,900$210,100$191,000

PURCHASE PRICE

$1,233$1,507$1,370

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,370
EXPENSES Loan Payment -$663
Property Tax -$437
Property Insurance -$109
Property Management Fees -$99
CASH FLOW
$62

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 9% of earned rent to cover both maintenance and periods of vacancy.

$191,000

PROJECTED PRICE

$1,370

PROJECTED RENT

0.72%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.50%
Appreciation Year (1-5) 4.8%
Maintenance Year (1-5) 3.00%
Vacancy 6.00%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$52,615

INVESTMENT

$52,615

Down Payment
$47,750
Rehab Estimate
$2,000
Closing Costs
$2,865

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$663

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $47,750
Loan Amount $143,250
See What Happens When You Reinvest Cash Flow

4.33

YEARS SAVED

$8,046

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,370

    LIST RENT
  • $0.93

    LIST RENT PER SQFT
  • $1,391

    COMP ESTIMATED VALUE
  • $0.95

    COMP AVG. RENT PER SQFT
Comps Range
$1,300
1$1,3002$1,3003$1,3254$1,3705$1,375
$1,375
RENT COMPS ANALYSIS
  • 1117 Elmwood Avenue Corsicana, TX 4
    • 3 beds 2 baths ∙ 1,468 Sqft ∙ Built 2021 3 beds 2 baths ∙ 1,468 Sqft ∙ Built 2021
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,370
    • $0.93
    •  
  • 1013 G W Jackson Avenue Corsicana, TX 1
    • 4 beds 2 baths ∙ 1,402 Sqft ∙ Built 2019 4 beds 2 baths ∙ 1,402 Sqft ∙ Built 2019
    property image
    LEASED 04/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $0.93
    •  
  • 704 N 14th Street Corsicana, TX 2
    • 3 beds 2 baths ∙ 1,352 Sqft ∙ Built 2018 3 beds 2 baths ∙ 1,352 Sqft ∙ Built 2018
    property image
    LEASED 02/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $0.96
    •  
  • 1005 Gw Jackson Corsicana, TX 3
    • 3 beds 2 baths ∙ 1,402 Sqft ∙ Built 2019 3 beds 2 baths ∙ 1,402 Sqft ∙ Built 2019
    property image
    LEASED 09/19/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,325
    • $0.95
    •  
  • 1605 W 13th Avenue Corsicana, TX 5
    • 4 beds 2 baths ∙ 1,448 Sqft ∙ Built 2019 4 beds 2 baths ∙ 1,448 Sqft ∙ Built 2019
    property image
    LEASED 08/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,375
    • $0.95
    •  
PROPERTY LISTING DETAILS
Denea Hudman
Miller Homes Group Pllc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14518781
Last Updated: 02/20/2021
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