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1765 Fm 613 Tuscola, TX 79562

3 Beds 2 Baths 1,974 sqft Built 2001

$250,000

List Price

$1,940

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
December 29, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2001
  • Price/Sqft : $126.65
  • 6 Days on Market
  • MLS # : 14489748
  • Updated Date : 12/29/2020 at 14:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,974 sqft
  • Baths : 2 full
Listing Agent

Tommy Simons & Associates, Realtors

Listing Agent's Description

House and roughly 2.5 acres with an adjacent homesite that is about 2.5 acres offered separately. Walking distance to Jim Ned High School. Home features a great open floorplan and an garage enclosure that makes an excellent media room or office. The back porch is covered and back yard is very well fenced making the outdoor living space perfect for entertaining. This home has a metal roof and has been very well taken care of! Don't miss this one

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: 79562

ZipNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240k260kPrice in $78k264k

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

Zip Code: 79562

ZipNIR Market*CityMarket2015Year20112019 Q2900100011001200130014001500160017001800Rent in $8341813

* 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
Jim Ned High School High Regular 320 35 7

Jim Ned High School

  • Education Level: High
  • # of students: 320
  • # of teachers: 35
7
GreatSchools Rating
 

$225,000$275,000$250,000

PURCHASE PRICE

$1,746$2,134$1,940

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,940
EXPENSES Loan Payment -$922
Property Tax -$439
Property Insurance -$140
Property Management Fees -$99
CASH FLOW
$340

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 18% of earned rent to cover both maintenance and periods of vacancy.

$250,000

PROJECTED PRICE

$1,940

PROJECTED RENT

0.78%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.50%
Appreciation Year (1-5) 3.6%
Maintenance Year (1-5) 8.00%
Vacancy 9.90%
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$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k$18k

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$72,000

INVESTMENT

$72,000

Down Payment
$62,500
Rehab Estimate
$5,750
Closing Costs
$3,750

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$922

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $62,500
Loan Amount $187,500
See What Happens When You Reinvest Cash Flow

8.42

YEARS SAVED

$32,887

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,940

    LIST RENT
  • $0.98

    LIST RENT PER SQFT
  • $2,053

    COMP ESTIMATED VALUE
  • $1.04

    COMP AVG. RENT PER SQFT
Comps Range
$1,795
1$1,7952$1,940
$1,940
RENT COMPS ANALYSIS
  • 1765 Fm 613 Tuscola, TX 2
    • 3 beds 2 baths ∙ 1,974 Sqft ∙ Built 2001 3 beds 2 baths ∙ 1,974 Sqft ∙ Built 2001
    • Rent
    • Rent Per SQFT
    •  
    • $1,940
    • $0.98
    •  
  • 128 Pepper Creek Tuscola, TX 1
    • 3 beds 2 baths ∙ 1,720 Sqft ∙ Built 2019 3 beds 2 baths ∙ 1,720 Sqft ∙ Built 2019
    LEASED 12/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $1.04
    •  
PROPERTY LISTING DETAILS
Tommy Simons
Tommy Simons & Associates, Realtors
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14489748
Last Updated: 12/29/2020
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