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3824 Iron Ore Drive Denison, TX 75020

3 Beds 2 Baths 1,906 sqft Built 2021

$387,114

List Price

$1,900

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

Built 2021 NEW CONSTRUCTION
SINGLE-FAMILY
February 21, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2021
  • Price/Sqft : $203.10
  • 8 Days on Market
  • MLS # : 14520117
  • Updated Date : 02/24/2021 at 08:07
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,906 sqft
  • Baths : 2 full
Listing Agent

Highland Homes Realty

Listing Agent's Description

MLS# 14520117 - Built by Highland Homes - April completion! ~ 1 story, 3 bedrooms, 2 full baths, master bedroom bay window, extended outdoor living, 2 car garage. Beautiful P Elevation with high pitched roof. Open concept kitchen, dining and family room with luxury vinyl plank floors throughout main areas. Kitchen has additional Peninsula for barstools to give extra cabinet and countertop space. Bay windows in master bedroom and large walk-in closet, 6-inch baseboards, 8-foot doors throughout. Energy efficiency includes Trane 16 SEER AC, TANKLESS water heater, WIFI thermostat & garage door, Low HERS Rating.

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: 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
 

$348,403$425,825$387,114

PURCHASE PRICE

$1,710$2,090$1,900

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,900
EXPENSES Loan Payment -$1,345
Property Tax -$888
Property Insurance -$131
HOA -$25
Property Management Fees -$99
CASH FLOW
-$587

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 9% of earned rent to cover both maintenance and periods of vacancy.

$387,114

PROJECTED PRICE

$1,900

PROJECTED RENT

0.49%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.50%
Appreciation Year (1-5) 9.5%
Maintenance Year (1-5) 3.00%
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$1.0M$1.2M

PROJECTED ANNUAL CASH FLOW

11530-$12k-$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$1.0M$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$104,585

INVESTMENT

$104,585

Down Payment
$96,779
Rehab Estimate
$2,000
Closing Costs
$5,807

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,345

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $96,779
Loan Amount $290,336
See What Happens When You Reinvest Cash Flow

-0.08

YEARS SAVED

-$15

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,900

    LIST RENT
  • $1

    LIST RENT PER SQFT
  • $1,893

    COMP ESTIMATED VALUE
  • $0.99

    COMP AVG. RENT PER SQFT
Comps Range
$1,600
1$1,6002$1,6503$1,6504$1,900
$1,900
RENT COMPS ANALYSIS
  • 3824 Iron Ore Drive Denison, TX 4
    • 3 beds 2 baths ∙ 1,906 Sqft ∙ Built 2021 3 beds 2 baths ∙ 1,906 Sqft ∙ Built 2021
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $1.00
    •  
  • 1818 Woodland Park Drive Denison, TX 1
    • 3 beds 2 baths ∙ 1,742 Sqft ∙ Built 2010 3 beds 2 baths ∙ 1,742 Sqft ∙ Built 2010
    property image
    LEASED 06/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.92
    •  
  • 2104 Renaissance Drive Denison, TX 2
    • 3 beds 2 baths ∙ 1,601 Sqft ∙ Built 2020 3 beds 2 baths ∙ 1,601 Sqft ∙ Built 2020
    property image
    LEASED 11/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.03
    •  
  • 2506 Renaissance Circle Denison, TX 3
    • 3 beds 2 baths ∙ 1,601 Sqft ∙ Built 2020 3 beds 2 baths ∙ 1,601 Sqft ∙ Built 2020
    property image
    LEASED 09/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.03
    •  
PROPERTY LISTING DETAILS
Ben Caballero
Highland Homes Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14520117
Last Updated: 02/24/2021
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