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2630 Fish Tank Road Corsicana, TX 75110

3 Beds 3 Baths 1,508 sqft Built 2000

$175,000

List Price

$1,350

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

December 24, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2000
  • Price/Sqft : $116.05
  • 4 Days on Market
  • MLS # : 14490010
  • Updated Date : 12/24/2020 at 00:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,508 sqft
  • Baths : 2 full , 1 half
Listing Agent

Mossy Oak Properties Of Texas- Headquarters

Listing Agent's Description

Great 3 bedroom with 2 full bathrooms and a half bath home built in 2000 in move in ready condition. Beautiful hardwood floors and ceramic tile downstairs with carpet in the downstairs masters and two good size bedrooms upstairs. Nice window coverings thru out featuring wood blinds in the living area. Large walk in closets and good storage thru out with an efficient floor plan design. Nice size galley style kitchen with window over the sink to provide morning sunshine, refrigerator with ice and water feature to remain. Good size backyard featuring a new fence and pergola covered patio with view of adjoining creek.

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
 

$157,500$192,500$175,000

PURCHASE PRICE

$1,215$1,485$1,350

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,350
EXPENSES Loan Payment -$646
Property Tax -$401
Property Insurance -$111
Property Management Fees -$99
CASH FLOW
$94

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.

$175,000

PROJECTED PRICE

$1,350

PROJECTED RENT

0.77%

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-$2.0k$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$52,125

INVESTMENT

$52,125

Down Payment
$43,750
Rehab Estimate
$5,750
Closing Costs
$2,625

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$646

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $43,750
Loan Amount $131,250
See What Happens When You Reinvest Cash Flow

5.42

YEARS SAVED

$11,965

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,350

    LIST RENT
  • $0.9

    LIST RENT PER SQFT
  • $1,463

    COMP ESTIMATED VALUE
  • $0.97

    COMP AVG. RENT PER SQFT
Comps Range
$1,300
1$1,3002$1,3253$1,3504$1,400
$1,400
RENT COMPS ANALYSIS
  • 2630 Fish Tank Road Corsicana, TX 3
    • 3 beds 3 baths ∙ 1,508 Sqft ∙ Built 2000 3 beds 3 baths ∙ 1,508 Sqft ∙ Built 2000
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.90
    •  
  • 704 N 14th Street Corsicana, TX 1
    • 3 beds 2 baths ∙ 1,352 Sqft ∙ Built 2018 3 beds 2 baths ∙ 1,352 Sqft ∙ Built 2018
    LEASED 02/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $0.96
    •  
  • 1005 Gw Jackson Corsicana, TX 2
    • 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
    •  
  • 1001 Gw Jackson Corsicana, TX 4
    • 3 beds 2 baths ∙ 1,402 Sqft ∙ Built 2019 3 beds 2 baths ∙ 1,402 Sqft ∙ Built 2019
    LEASED 08/05/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $1.00
    •  
PROPERTY LISTING DETAILS
Mark Freeman
Mossy Oak Properties Of Texas- Headquarters
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14490010
Last Updated: 12/24/2020
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