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114 N Harrison Avenue Sherman, TX 75090

3 Beds 2 Baths 1,356 sqft Built 2020

$194,900

List Price

$1,150

$1K - $1.3K

Rent Est.

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
December 12, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2020
  • Price/Sqft : $143.73
  • 3 Days on Market
  • MLS # : 14484825
  • Updated Date : 12/11/2020 at 12:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,356 sqft
  • Baths : 2 full
Listing Agent

C-21 Dean Gilbert, Realtors

Listing Agent's Description

Brand new home! You and your family will enjoy the open floor plan that will allow to entertain friends and family of course in small gathering :)~ . Nice size backyard will give your pets room to run and your pets may allow a BBQ or two. Your will be blocks away from Austin College and have quick access to Houston and Lamar street that will direct you towards Hwy 1417 or Hwy 75.

SEE MORE

MARKET HIGHLIGHTS

  • . 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)
  • 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)

PRICE & RENT TRENDS

Zip Code: 75090

ZipNIR Market*CityMarket2010Year2000201960k70k80k90k100k110k120k130k140k150k160kPrice in $52k166k

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

Zip Code: 75090

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
Dillingham Intermediate School Primary Regular 1,036 76 4
Dillingham Intermediate School Middle Regular 1,036 76 4
Sherman High School High Regular 1,780 119 5

Dillingham Intermediate School

  • Education Level: Primary
  • # of students: 1,036
  • # of teachers: 76
4
GreatSchools Rating

Dillingham Intermediate School

  • Education Level: Middle
  • # of students: 1,036
  • # of teachers: 76
4
GreatSchools Rating

Sherman High School

  • Education Level: High
  • # of students: 1,780
  • # of teachers: 119
5
GreatSchools Rating
 

$175,410$214,390$194,900

PURCHASE PRICE

$1,035$1,265$1,150

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,150
EXPENSES Loan Payment -$719
Property Tax -$447
Property Insurance -$101
Property Management Fees -$99
CASH FLOW
-$216

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.

$194,900

PROJECTED PRICE

$1,150

PROJECTED RENT

0.59%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.50%
Appreciation Year (1-5) 9.0%
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$600k

PROJECTED ANNUAL CASH FLOW

11530-$5.0k-$4.0k-$3.0k-$2.0k-$1.0k$0.0$1.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$53,649

INVESTMENT

$53,649

Down Payment
$48,725
Rehab Estimate
$2,000
Closing Costs
$2,924

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$719

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $48,725
Loan Amount $146,175
See What Happens When You Reinvest Cash Flow

0.17

YEARS SAVED

$46

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,150

    LIST RENT
  • $0.85

    LIST RENT PER SQFT
  • $1,275

    COMP ESTIMATED VALUE
  • $0.94

    COMP AVG. RENT PER SQFT
Comps Range
$1,100
1$1,1002$1,1503$1,3004$1,3755$1,399
$1,399
RENT COMPS ANALYSIS
  • 114 N Harrison Avenue Sherman, TX 2
    • 3 beds 2 baths ∙ 1,356 Sqft ∙ Built 2020 3 beds 2 baths ∙ 1,356 Sqft ∙ Built 2020
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,150
    • $0.85
    •  
  • 202 N Harrison Avenue Sherman, TX 1
    • 3 beds 2 baths ∙ 1,251 Sqft ∙ Built 2017 3 beds 2 baths ∙ 1,251 Sqft ∙ Built 2017
    property image
    LEASED 03/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,100
    • $0.88
    •  
  • 716 N Harrison Avenue Sherman, TX 3
    • 3 beds 2 baths ∙ 1,400 Sqft ∙ Built 2020 3 beds 2 baths ∙ 1,400 Sqft ∙ Built 2020
    property image
    LEASED 10/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $0.93
    •  
  • 913 E Cherry Street Sherman, TX 4
    • 3 beds 2 baths ∙ 1,356 Sqft ∙ Built 2020 3 beds 2 baths ∙ 1,356 Sqft ∙ Built 2020
    property image
    LEASED 11/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,375
    • $1.01
    •  
  • 814 N East Street Sherman, TX 5
    • 4 beds 2 baths ∙ 1,492 Sqft ∙ Built 2017 4 beds 2 baths ∙ 1,492 Sqft ∙ Built 2017
    property image
    LEASED 03/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,399
    • $0.94
    •  
PROPERTY LISTING DETAILS
Nancy Torres
C-21 Dean Gilbert, Realtors
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14484825
Last Updated: 12/11/2020
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