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1604 Northwood Boulevard Corsicana, TX 75110

3 Beds 2 Baths 2,133 sqft Built 1980

$205,000

List Price

$1,490

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

November 20, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1980
  • Price/Sqft : $96.11
  • 3 Days on Market
  • MLS # : 14472017
  • Updated Date : 11/20/2020 at 21:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,133 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Arlington

Listing Agent's Description

Look no more! This fabulous 3 bedroom home has it all! Located towards the end of Northwood Blvd in a wonderful neighborhood just minutes from downtown Corsicana. Walk in to an open foyer and see the large galley style kitchen with dining area. Massive living room has brick, corner fireplace and double doors leading out to the large covered patio and sprawling backyard. Master bedroom is oversized with sitting area or room for office space. Attached master bath has separate vanities, walk in shower and jetted tub. Each of the other bedrooms offer large closets. Recent foundation work offers lifetime transferrable warranty. Roof replaced in 2019 and plumbing has been replaced as well. Come see it today!

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
 

$184,500$225,500$205,000

PURCHASE PRICE

$1,341$1,639$1,490

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,490
EXPENSES Loan Payment -$756
Property Tax -$469
Property Insurance -$146
Property Management Fees -$99
CASH FLOW
$20

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.

$205,000

PROJECTED PRICE

$1,490

PROJECTED RENT

0.73%

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-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$60,075

INVESTMENT

$60,075

Down Payment
$51,250
Rehab Estimate
$5,750
Closing Costs
$3,075

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$756

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $51,250
Loan Amount $153,750
See What Happens When You Reinvest Cash Flow

3.42

YEARS SAVED

$7,088

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,490

    LIST RENT
  • $0.7

    LIST RENT PER SQFT
  • $1,621

    COMP ESTIMATED VALUE
  • $0.76

    COMP AVG. RENT PER SQFT
Comps Range
$1,350
1$1,3502$1,4903$1,5004$1,800
$1,800
RENT COMPS ANALYSIS
  • 1604 Northwood Boulevard Corsicana, TX 2
    • 3 beds 2 baths ∙ 2,133 Sqft ∙ Built 1980 3 beds 2 baths ∙ 2,133 Sqft ∙ Built 1980
    • Rent
    • Rent Per SQFT
    •  
    • $1,490
    • $0.70
    •  
  • 501 Dobbins Road Corsicana, TX 1
    • 3 beds 2 baths ∙ 1,952 Sqft ∙ Built 1970 3 beds 2 baths ∙ 1,952 Sqft ∙ Built 1970
    LEASED 07/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.69
    •  
  • 1708 Lexington Circle Corsicana, TX 3
    • 4 beds 3 baths ∙ 2,298 Sqft ∙ Built 1970 4 beds 3 baths ∙ 2,298 Sqft ∙ Built 1970
    LEASED 11/17/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.65
    •  
  • 409 Forrest Lane Corsicana, TX 4
    • 3 beds 2 baths ∙ 1,918 Sqft ∙ Built 1970 3 beds 2 baths ∙ 1,918 Sqft ∙ Built 1970
    LEASED 11/25/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.94
    •  
PROPERTY LISTING DETAILS
Laura Smith
Keller Williams Arlington
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14472017
Last Updated: 11/20/2020
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