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1505 S Travis Avenue Denison, TX 75021

4 Beds 2 Baths 1,680 sqft Built 2000

$149,900

List Price

$1,350

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
December 19, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2000
  • Price/Sqft : $89.23
  • 2 Days on Market
  • MLS # : 14488651
  • Updated Date : 12/18/2020 at 21:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,680 sqft
  • Baths : 2 full
Listing Agent

Corey Simpson & Associates

Listing Agent's Description

Looking for a nice piece of property close to everything? This is your home! With a gracious 3.81 acres to call home there's so much potential for what you can do. The 4 bedroom 2 bath home is an excellent starter home needing some cosmetic updates to make it your own! Come see this beautiful piece of land and you'll find yourself right at home.

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: 75021

ZipNIR Market*CityMarket2010Year2002201960k70k80k90k100k110k120k130k140k150k160kPrice in $55k166k

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

Zip Code: 75021

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
 

$134,910$164,890$149,900

PURCHASE PRICE

$1,215$1,485$1,350

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,350
EXPENSES Loan Payment -$553
Property Tax -$344
Property Insurance -$119
Property Management Fees -$99
CASH FLOW
$236

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.

$149,900

PROJECTED PRICE

$1,350

PROJECTED RENT

0.90%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.50%
Appreciation Year (1-5) 4.9%
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

PROJECTED ANNUAL CASH FLOW

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

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$45,474

INVESTMENT

$45,474

Down Payment
$37,475
Rehab Estimate
$5,750
Closing Costs
$2,249

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% down payment or higher enables the proceeds from the asset to cover all costs.

$553

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $37,475
Loan Amount $112,425
See What Happens When You Reinvest Cash Flow

10.25

YEARS SAVED

$26,066

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,350

    LIST RENT
  • $0.8

    LIST RENT PER SQFT
  • $1,453

    COMP ESTIMATED VALUE
  • $0.87

    COMP AVG. RENT PER SQFT
Comps Range
$1,300
1$1,3002$1,3503$1,3854$1,4755$1,695
$1,695
RENT COMPS ANALYSIS
  • 1505 S Travis Avenue Denison, TX 2
    • 4 beds 2 baths ∙ 1,680 Sqft ∙ Built 2000 4 beds 2 baths ∙ 1,680 Sqft ∙ Built 2000
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.80
    •  
  • 411 E Nelson Street Denison, TX 1
    • 3 beds 2 baths ∙ 1,332 Sqft ∙ Built 2019 3 beds 2 baths ∙ 1,332 Sqft ∙ Built 2019
    LEASED 04/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $0.98
    •  
  • 330 W Heron Street Denison, TX 3
    • 4 beds 2 baths ∙ 1,795 Sqft ∙ Built 1982 4 beds 2 baths ∙ 1,795 Sqft ∙ Built 1982
    LEASED 05/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,385
    • $0.77
    •  
  • 1321 Crestview Drive Denison, TX 4
    • 3 beds 2 baths ∙ 1,790 Sqft ∙ Built 2013 3 beds 2 baths ∙ 1,790 Sqft ∙ Built 2013
    LEASED 08/05/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,475
    • $0.82
    •  
  • 305 W Johnson Street Denison, TX 5
    • 3 beds 3 baths ∙ 1,904 Sqft ∙ Built 2020 3 beds 3 baths ∙ 1,904 Sqft ∙ Built 2020
    LEASED 09/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.89
    •  
PROPERTY LISTING DETAILS
Stephanie Lowder
Corey Simpson & Associates
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14488651
Last Updated: 12/18/2020
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