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1625 W Parnell Street Denison, TX 75020

3 Beds 2 Baths 1,276 sqft Built 1986

$154,000

List Price

$1,300

$1.2K - $1.4K

Rent Est.

PROPERTY INFO

December 04, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1986
  • Price/Sqft : $120.69
  • 3 Days on Market
  • MLS # : 14479989
  • Updated Date : 12/04/2020 at 11:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,276 sqft
  • Baths : 2 full
Listing Agent

Paragon Realtors

Listing Agent's Description

This place is probably better than new! 30 year dimensional shingles, gutters, window screens, garage door with keypad and opener (Wi-Fi enabled for remote access) all installed in November, 2020. Fresh paint inside and out, popcorn ceilings removed, new baseboards, outlets and light switches, cabinets and doors painted and hardware replaced, light fixtures in the bathrooms, breakfast, and kitchen, ceiling fans in two bedrooms, range hood, stainless steel kitchen sink, A-C return grille and mailbox. Additional improvements have been made to the drainage and fresh mulch and edging have been added on the front for your favorite plantings. Chain link fenced back yard. Refrigerator conveys with the home. $154,000.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • # 1 in the country for job growth in 2017 (2.6% growth, 91,700 new jobs) (US Census, Forbes, 2017)

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
Mayes Elementary School Primary Regular 461 28 6
B Mcdaniel Middle School Middle Regular 670 48 5
Denison High School High Regular 1,243 99 5

Mayes Elementary School

  • Education Level: Primary
  • # of students: 461
  • # of teachers: 28
6
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
 

$138,600$169,400$154,000

PURCHASE PRICE

$1,170$1,430$1,300

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,300
EXPENSES Loan Payment -$568
Property Tax -$353
Property Insurance -$97
Property Management Fees -$99
CASH FLOW
$183

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.

$154,000

PROJECTED PRICE

$1,300

PROJECTED RENT

0.84%

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) 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

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$46,560

INVESTMENT

$46,560

Down Payment
$38,500
Rehab Estimate
$5,750
Closing Costs
$2,310

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$568

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $38,500
Loan Amount $115,500
See What Happens When You Reinvest Cash Flow

8.5

YEARS SAVED

$20,225

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,300

    LIST RENT
  • $1.02

    LIST RENT PER SQFT
  • $1,302

    COMP ESTIMATED VALUE
  • $1.02

    COMP AVG. RENT PER SQFT
Comps Range
$1,200
1$1,2002$1,2003$1,3004$1,4005$1,595
$1,595
RENT COMPS ANALYSIS
  • 1625 W Parnell Street Denison, TX 3
    • 3 beds 2 baths ∙ 1,276 Sqft ∙ Built 1986 3 beds 2 baths ∙ 1,276 Sqft ∙ Built 1986
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $1.02
    •  
  • 1624 W Washington Street Denison, TX 1
    • 3 beds 2 baths ∙ 1,273 Sqft ∙ Built 1981 3 beds 2 baths ∙ 1,273 Sqft ∙ Built 1981
    LEASED 10/29/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,200
    • $0.94
    •  
  • 1719 W Parnell Street Denison, TX 2
    • 3 beds 2 baths ∙ 1,282 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,282 Sqft ∙ Built 2003
    LEASED 06/30/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,200
    • $0.94
    •  
  • 1629 W Washington Street Denison, TX 4
    • 3 beds 2 baths ∙ 1,206 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,206 Sqft ∙ Built 2003
    LEASED 07/08/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $1.16
    •  
  • 1620 W Hull Street Denison, TX 5
    • 4 beds 2 baths ∙ 1,531 Sqft ∙ Built 1990 4 beds 2 baths ∙ 1,531 Sqft ∙ Built 1990
    LEASED 06/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $1.04
    •  
PROPERTY LISTING DETAILS
Norman Gordon
Paragon Realtors
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14479989
Last Updated: 12/04/2020
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