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2502 Pecan Street Commerce, TX 75428

3 Beds 2 Baths 1,352 sqft Built 1980

$140,000

List Price

$1,010

$909 - $1.1K

Rent Est.

PROPERTY INFO

February 04, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1980
  • Price/Sqft : $103.55
  • 4 Days on Market
  • MLS # : 14499860
  • Updated Date : 02/04/2021 at 11:04
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,352 sqft
  • Baths : 1 full , 1 half
Listing Agent

Century 21 First Group

Listing Agent's Description

Located less than 1 mile away from Texas A&M University of Commerce. This charming house sits on a 0.2769 acre lot with mature trees. Inside you will find 3 bedrooms and 1.5 baths with wood flooring, tile, and carpet. Kitchen cabinets have been update. The detached garage has electricity which would be perfect for a separate living space or man cave. Security system with window and door sensors. Roof is 5 years old. Large backyard has trees, covered patio, and storage shed. Come see it before it's gone. Refrigerator, washer, dryer, and TV mount in bedroom all convey with the property. TV on mount does not work.

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: 75428

ZipNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240kPrice in $75k243k

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

Zip Code: 75428

ZipNIR Market*Market2010Year20002019 Q210001100120013001400150016001700Rent in $9451734

* 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
Ac. Williams Elementary School Primary Regular 332 23 4
Commerce Middle School Middle Regular 333 26 3
Commerce High School High Regular 437 32 5

Ac. Williams Elementary School

  • Education Level: Primary
  • # of students: 332
  • # of teachers: 23
4
GreatSchools Rating

Commerce Middle School

  • Education Level: Middle
  • # of students: 333
  • # of teachers: 26
3
GreatSchools Rating

Commerce High School

  • Education Level: High
  • # of students: 437
  • # of teachers: 32
5
GreatSchools Rating
 

$126,000$154,000$140,000

PURCHASE PRICE

$909$1,111$1,010

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,010
EXPENSES Loan Payment -$486
Property Tax -$362
Property Insurance -$105
Property Management Fees -$99
CASH FLOW
-$43

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 15% of earned rent to cover both maintenance and periods of vacancy.

$140,000

PROJECTED PRICE

$1,010

PROJECTED RENT

0.72%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.74%
Appreciation Year (1-5) 5.3%
Maintenance Year (1-5) 8.00%
Vacancy 6.69%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$50k$100k$150k$200k$250k$300k$350k$400k

PROJECTED ANNUAL CASH FLOW

11530-$3.0k-$2.0k-$1.0k$0.0$1.0k$2.0k$3.0k$4.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$50k$100k$150k$200k$250k$300k$350k$400k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$42,850

INVESTMENT

$42,850

Down Payment
$35,000
Rehab Estimate
$5,750
Closing Costs
$2,100

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$486

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $35,000
Loan Amount $105,000
See What Happens When You Reinvest Cash Flow

2.5

YEARS SAVED

$2,711

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,010

    LIST RENT
  • $0.75

    LIST RENT PER SQFT
  • $1,099

    COMP ESTIMATED VALUE
  • $0.81

    COMP AVG. RENT PER SQFT
Comps Range
$950
1$9502$1,0103$1,0504$1,0505$1,350
$1,350
RENT COMPS ANALYSIS
  • 2502 Pecan Street Commerce, TX 2
    • 3 beds 2 baths ∙ 1,352 Sqft ∙ Built 1980 3 beds 2 baths ∙ 1,352 Sqft ∙ Built 1980
    • Rent
    • Rent Per SQFT
    •  
    • $1,010
    • $0.75
    •  
  • 1711 Walnut Street Commerce, TX 1
    • 3 beds 1 baths ∙ 1,300 Sqft ∙ Built 1993 3 beds 1 baths ∙ 1,300 Sqft ∙ Built 1993
    LEASED 10/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $950
    • $0.73
    •  
  • 1004 Solomon Drive Commerce, TX 3
    • 3 beds 2 baths ∙ 1,234 Sqft ∙ Built 2000 3 beds 2 baths ∙ 1,234 Sqft ∙ Built 2000
    LEASED 10/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,050
    • $0.85
    •  
  • 1007 Enlow Circle Commerce, TX 4
    • 3 beds 2 baths ∙ 1,265 Sqft ∙ Built 1999 3 beds 2 baths ∙ 1,265 Sqft ∙ Built 1999
    LEASED 10/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,050
    • $0.83
    •  
  • 2501 Park Street Commerce, TX 5
    • 3 beds 2 baths ∙ 1,604 Sqft ∙ Built 1970 3 beds 2 baths ∙ 1,604 Sqft ∙ Built 1970
    LEASED 08/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.84
    •  
PROPERTY LISTING DETAILS
Crystal Mcgahan
Century 21 First Group
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14499860
Last Updated: 02/04/2021
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