Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

112 Ranchland Road Corsicana, TX 75110

3 Beds 2 Baths 1,904 sqft Built 1980

$141,000

List Price

$1,510

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
December 28, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1980
  • Price/Sqft : $74.05
  • 7 Days on Market
  • MLS # : 14491366
  • Updated Date : 12/28/2020 at 21:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,904 sqft
  • Baths : 2 full
Listing Agent

Excite Realty

Listing Agent's Description

Large one acre lot with some trees, storage building, nice gazebo and huge workshop big and tall enough for an RV. Ranch style home features living with fireplace, cabinetry on both sides of fireplace, island kitchen, three large and spacious bedrooms and a 2 car front entry garage. Home has had some updates. Small fenced in yard behind the house.

SEE MORE

MARKET HIGHLIGHTS

  • # 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)
  • . Dallas has 7th largest concentration of high-tech jobs in the U.S. (Dallas Chamber)

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
 

$126,900$155,100$141,000

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 -$520
Property Tax -$340
Property Insurance -$133
Property Management Fees -$99
CASH FLOW
$418

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.

$141,000

PROJECTED PRICE

$1,510

PROJECTED RENT

1.07%

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) 8.00%
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$600k

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$50k$100k$150k$200k$250k$300k$350k$400k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$43,115

INVESTMENT

$43,115

Down Payment
$35,250
Rehab Estimate
$5,750
Closing Costs
$2,115

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 20% down payment or higher enables the proceeds from the asset to cover all costs.

$520

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $35,250
Loan Amount $105,750
See What Happens When You Reinvest Cash Flow

15.25

YEARS SAVED

$41,219

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
  • $0.79

    LIST RENT PER SQFT
  • $1,542

    COMP ESTIMATED VALUE
  • $0.81

    COMP AVG. RENT PER SQFT
Comps Range
$1,350
1$1,3502$1,510
$1,510
RENT COMPS ANALYSIS
  • 112 Ranchland Road Corsicana, TX 2
    • 3 beds 2 baths ∙ 1,904 Sqft ∙ Built 1980 3 beds 2 baths ∙ 1,904 Sqft ∙ Built 1980
    • Rent
    • Rent Per SQFT
    •  
    • $1,510
    • $0.79
    •  
  • 3201 W 8th Avenue Corsicana, TX 1
    • 3 beds 2 baths ∙ 1,673 Sqft ∙ Built 1984 3 beds 2 baths ∙ 1,673 Sqft ∙ Built 1984
    LEASED 03/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.81
    •  
PROPERTY LISTING DETAILS
Karen Jentzen
Excite Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14491366
Last Updated: 12/28/2020
BESbswy