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1309 S Bells Avenue Denison, TX 75020

3 Beds 2 Baths 1,420 sqft Built 2021

$220,000

List Price

$1,500

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

Built 2021 NEW CONSTRUCTION
SINGLE-FAMILY
February 25, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2021
  • Price/Sqft : $154.93
  • 4 Days on Market
  • MLS # : 14522367
  • Updated Date : 02/25/2021 at 19:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,420 sqft
  • Baths : 2 full
Listing Agent

Easy Life Realty

Listing Agent's Description

ALMOST COMPLETE! This new construction 3 bedroom, 2 bathroom home with a 2 car garage is on an oversized lot which makes for a great size front and back yard. The vaulted ceilings make this open concept home feel even larger and the builder has used neutral colors throughout. Kitchen features an abundance of cabinets for lots of storage, granite counter tops, stainless appliances and home features neutral vinyl flooring through the main living area.

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: 75020

ZipNIR Market*CityMarket2010Year2000201960k70k80k90k100k110k120k130k140k150k160kPrice in $57k168k

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

Zip Code: 75020

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
Lamar Elementary School Primary Regular 439 27 5
B Mcdaniel Middle School Middle Regular 670 48 5
Denison High School High Regular 1,243 99 5

Lamar Elementary School

  • Education Level: Primary
  • # of students: 439
  • # of teachers: 27
5
GreatSchools Rating

B Mcdaniel Middle School

  • Education Level: Middle
  • # of students: 670
  • # of teachers: 48
5
GreatSchools Rating

Denison High School

  • Education Level: High
  • # of students: 1,243
  • # of teachers: 99
5
GreatSchools Rating
 

$198,000$242,000$220,000

PURCHASE PRICE

$1,350$1,650$1,500

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,500
EXPENSES Loan Payment -$764
Property Tax -$504
Property Insurance -$105
Property Management Fees -$99
CASH FLOW
$28

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.

$220,000

PROJECTED PRICE

$1,500

PROJECTED RENT

0.68%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.50%
Appreciation Year (1-5) 9.5%
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$700k$800k

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$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$600k$700k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$60,300

INVESTMENT

$60,300

Down Payment
$55,000
Rehab Estimate
$2,000
Closing Costs
$3,300

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$764

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $55,000
Loan Amount $165,000
See What Happens When You Reinvest Cash Flow

3.5

YEARS SAVED

$6,808

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,500

    LIST RENT
  • $1.06

    LIST RENT PER SQFT
  • $1,498

    COMP ESTIMATED VALUE
  • $1.06

    COMP AVG. RENT PER SQFT
Comps Range
$1,299
1$1,2992$1,3503$1,3994$1,4255$1,500
$1,500
RENT COMPS ANALYSIS
  • 1309 S Bells Avenue Denison, TX 5
    • 3 beds 2 baths ∙ 1,420 Sqft ∙ Built 2021 3 beds 2 baths ∙ 1,420 Sqft ∙ Built 2021
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $1.06
    •  
  • 517 E Hanna Street Denison, TX 1
    • 3 beds 2 baths ∙ 1,299 Sqft ∙ Built 2020 3 beds 2 baths ∙ 1,299 Sqft ∙ Built 2020
    LEASED 08/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,299
    • $1.00
    •  
  • 515 E Hanna Street Denison, TX 2
    • 3 beds 2 baths ∙ 1,300 Sqft ∙ Built 2020 3 beds 2 baths ∙ 1,300 Sqft ∙ Built 2020
    LEASED 08/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $1.04
    •  
  • 510 E Acheson Road Denison, TX 3
    • 3 beds 2 baths ∙ 1,300 Sqft ∙ Built 2010 3 beds 2 baths ∙ 1,300 Sqft ∙ Built 2010
    LEASED 03/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,399
    • $1.08
    •  
  • 211 W Murray Street Denison, TX 4
    • 3 beds 2 baths ∙ 1,300 Sqft ∙ Built 2020 3 beds 2 baths ∙ 1,300 Sqft ∙ Built 2020
    LEASED 10/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,425
    • $1.10
    •  
PROPERTY LISTING DETAILS
Shannon Gladen
Easy Life Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14522367
Last Updated: 02/25/2021
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