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180 Crone Road Denison, TX 75021

3 Beds 2 Baths 1,774 sqft Built 2002

$345,000

List Price

$1,660

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

January 07, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2002
  • Price/Sqft : $194.48
  • 4 Days on Market
  • MLS # : 14495559
  • Updated Date : 01/09/2021 at 17:04
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,774 sqft
  • Baths : 2 full
Listing Agent

Attorney Broker Services

Listing Agent's Description

Private subdivision newly formed with just three lots. This property is on the third and furthest lot. 4.031 acres of lovely fruit trees, oaks and evergreens. Property has a shop the offers one half bath and overhead door. Flooring of shop total concrete. Home is three bed, 2 full bath, split floorplan. Formals as well. Oversized two car garage with side entry. Storage in attic of garage. Playhouse on property and three sided cover ideal for four wheeler or large lawn mover. Interior needs paint and carpet. Seller is aware and offers $25,000 allowance for buyers choice of decorating. Secluded location but close commute to necessary services.

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
 

$310,500$379,500$345,000

PURCHASE PRICE

$1,494$1,826$1,660

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,660
EXPENSES Loan Payment -$1,198
Property Tax -$691
Property Insurance -$124
Property Management Fees -$99
CASH FLOW
-$452

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.

$345,000

PROJECTED PRICE

$1,660

PROJECTED RENT

0.48%

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$200k$400k$600k$800k

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$97,175

INVESTMENT

$97,175

Down Payment
$86,250
Rehab Estimate
$5,750
Closing Costs
$5,175

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 75% down payment or higher enables the proceeds from the asset to cover all costs.

$1,198

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $86,250
Loan Amount $258,750
See What Happens When You Reinvest Cash Flow

0

YEARS SAVED

$16

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,660

    LIST RENT
  • $0.94

    LIST RENT PER SQFT
  • $1,756

    COMP ESTIMATED VALUE
  • $0.99

    COMP AVG. RENT PER SQFT
Comps Range
$1,550
1$1,5502$1,660
$1,660
RENT COMPS ANALYSIS
  • 180 Crone Road Denison, TX 2
    • 3 beds 2 baths ∙ 1,774 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,774 Sqft ∙ Built 2002
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,660
    • $0.94
    •  
  • 117 Shady Woods Lane Denison, TX 1
    • 3 beds 2 baths ∙ 1,564 Sqft ∙ Built 2008 3 beds 2 baths ∙ 1,564 Sqft ∙ Built 2008
    property image
    LEASED 03/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.99
    •  
PROPERTY LISTING DETAILS
Holly Neal
Attorney Broker Services
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14495559
Last Updated: 01/09/2021
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