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1801 E 9th Avenue Corsicana, TX 75110

3 Beds 2 Baths 1,353 sqft Built 2000

$104,000

List Price

$1,170

$1.1K - $1.3K

Rent Est.

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
January 27, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2000
  • Price/Sqft : $76.87
  • 7 Days on Market
  • MLS # : 14505555
  • Updated Date : 01/24/2021 at 23:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,353 sqft
  • Baths : 2 full
Listing Agent

Re/max Of Corsicana

Listing Agent's Description

Great home for the growing family or perhaps a new addition to your real estate portfolio? 1801 E 9th Avenue is 3 bedrooms and 2 bathrooms of potential, and ready to be transformed into the home of your dreams. You'll fall in love with the oversized bedrooms of this cute home offering the perfect size and sitting on a corner lot, with easy access to Hwy 31 & I-45.

SEE MORE

MARKET HIGHLIGHTS

  • . 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)
  • 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)

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
 

$93,600$114,400$104,000

PURCHASE PRICE

$1,053$1,287$1,170

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,170
EXPENSES Loan Payment -$361
Property Tax -$238
Property Insurance -$102
Property Management Fees -$99
CASH FLOW
$369

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.

$104,000

PROJECTED PRICE

$1,170

PROJECTED RENT

1.13%

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

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$50k$100k$150k$200k$250k$300k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$33,310

INVESTMENT

$33,310

Down Payment
$26,000
Rehab Estimate
$5,750
Closing Costs
$1,560

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 20% down payment or higher enables the proceeds from the asset to cover all costs.

$361

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $26,000
Loan Amount $78,000
See What Happens When You Reinvest Cash Flow

16.5

YEARS SAVED

$28,844

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,170

    LIST RENT
  • $0.86

    LIST RENT PER SQFT
  • $1,248

    COMP ESTIMATED VALUE
  • $0.92

    COMP AVG. RENT PER SQFT
Comps Range
$1,170
1$1,1702$1,3003$1,3254$1,3255$1,350
$1,350
RENT COMPS ANALYSIS
  • 1801 E 9th Avenue Corsicana, TX 1
    • 3 beds 2 baths ∙ 1,353 Sqft ∙ Built 2000 3 beds 2 baths ∙ 1,353 Sqft ∙ Built 2000
    • Rent
    • Rent Per SQFT
    •  
    • $1,170
    • $0.86
    •  
  • 1013 G W Jackson Avenue Corsicana, TX 2
    • 4 beds 2 baths ∙ 1,402 Sqft ∙ Built 2019 4 beds 2 baths ∙ 1,402 Sqft ∙ Built 2019
    LEASED 04/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $0.93
    •  
  • 1005 Gw Jackson Corsicana, TX 3
    • 3 beds 2 baths ∙ 1,402 Sqft ∙ Built 2019 3 beds 2 baths ∙ 1,402 Sqft ∙ Built 2019
    LEASED 09/19/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,325
    • $0.95
    •  
  • 1306 G W Jackson Avenue Corsicana, TX 4
    • 4 beds 2 baths ∙ 1,448 Sqft ∙ Built 2019 4 beds 2 baths ∙ 1,448 Sqft ∙ Built 2019
    LEASED 03/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,325
    • $0.92
    •  
  • 1505 G W Jackson Avenue Corsicana, TX 5
    • 4 beds 2 baths ∙ 1,519 Sqft ∙ Built 2019 4 beds 2 baths ∙ 1,519 Sqft ∙ Built 2019
    LEASED 03/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.89
    •  
PROPERTY LISTING DETAILS
Aric Bonner
Re/max Of Corsicana
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14505555
Last Updated: 01/24/2021
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