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3014 Loy Lake Road Denison, TX 75020

3 Beds 2 Baths 1,846 sqft Built 2018

INVESTimate

$265,000

List Price

$1,750

$1,575 - $1,925

Rent Est.

$290,228  ( +9.52%)   1 YR EST. FORECAST

PROPERTY INFO

August 19, 2020 RECENTLY ADDED
FACTS
  • Built In 2018
  • Price/Sqft : $143.55
  • 8 Days on Market
  • MLS # : 14415936
  • Updated Date : 08/20/2020 at 04:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,846 sqft
  • Baths : 2 full
Listing Agent

Ebby Halliday, Realtors

Listing Agent's Description

2018 Custom Home. Kit, granite counters, travertine back splash, lg island with double sink. Hanging pot rack, All Whirlpool stainless steel appliances 2018 will convey with home. Extra lg pantry. Tall ceilings. Open floor plan. Tilt sash windows, double pane. Beautiful Hunter ceiling fans through out. Crown molding. Breakfast room is open and bright. Gutters are Leaf Filter, complete on all roof. Master has elegant entry, coffered ceilings, elegant shelving. Master bath is Superb. Features Liberation Revita Jet whole body Hydrotherepy system. Bidet. Shower is walk in, tile and travertine. 2 vanities, Lg walk in. Back yard entertaining area, covered patio 21x13, peach trees, misc flowers.St Augustine grass

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: 75020

ZipNIR Market*CityMarket2010Year2000201960k70k80k90k100k110k120k130k140k150k160kPrice in $57k168k

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

Zip Code: 75020

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
Hyde Park Elementary School Primary Regular 396 24 6
B Mcdaniel Middle School Middle Regular 670 48 5
Denison High School High Regular 1,243 99 5

Hyde Park Elementary School

  • Education Level: Primary
  • # of students: 396
  • # of teachers: 24
6
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
 

$238,500$291,500$265,000

PURCHASE PRICE

$1,575$1,925$1,750

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,750
EXPENSES Loan Payment -$978
Property Tax -$608
Property Insurance -$128
Property Management Fees -$99
CASH FLOW
-$62

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.

$265,000

PROJECTED PRICE

$1,750

PROJECTED RENT

0.66%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.50%
Appreciation Year (1-5) 9.52%
Maintenance Year (1-5) 8.00%
Vacancy 6.00%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$75,975

INVESTMENT

$75,975

Down Payment
$66,250
Rehab Estimate
$5,750
Closing Costs
$3,975

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$978

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $66,250
Loan Amount $198,750
See What Happens When You Reinvest Cash Flow

2.17

YEARS SAVED

$4,787

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,750

    LIST RENT
  • $0.95

    LIST RENT PER SQFT
  • $1,777

    COMP ESTIMATED VALUE
  • $0.96

    COMP AVG. RENT PER SQFT
Comps Range
$1,600
1$1,6002$1,6003$1,7004$1,7505$1,800
$1,800
RENT COMPS ANALYSIS
  • 3014 Loy Lake Road Denison, TX 4
    • 3 beds 2 baths ∙ 1,846 Sqft ∙ Built 2018 3 beds 2 baths ∙ 1,846 Sqft ∙ Built 2018
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.95
    •  
  • 2405 S Park Avenue Denison, TX 1
    • 3 beds 2 baths ∙ 1,651 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,651 Sqft ∙ Built 2003
    LEASED 08/16/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.97
    •  
  • 1818 Woodland Park Drive Denison, TX 2
    • 3 beds 2 baths ∙ 1,742 Sqft ∙ Built 2010 3 beds 2 baths ∙ 1,742 Sqft ∙ Built 2010
    LEASED 06/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.92
    •  
  • 2616 Flora Lane Denison, TX 3
    • 3 beds 2 baths ∙ 1,772 Sqft ∙ Built 2018 3 beds 2 baths ∙ 1,772 Sqft ∙ Built 2018
    LEASED 08/23/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.96
    •  
  • 2612 Flora Lane Denison, TX 5
    • 3 beds 2 baths ∙ 1,805 Sqft ∙ Built 2016 3 beds 2 baths ∙ 1,805 Sqft ∙ Built 2016
    LEASED 06/17/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $1.00
    •  
PROPERTY LISTING DETAILS
Shirley Noles
Ebby Halliday, Realtors
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14415936
Last Updated: 08/20/2020
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