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519 Martin Luther King Street Denison, TX 75020

3 Beds 2 Baths 1,229 sqft Built 2021

$165,000

List Price

$1,370

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

Built 2021 NEW CONSTRUCTION
January 02, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2021
  • Price/Sqft : $134.26
  • 2 Days on Market
  • MLS # : 14492374
  • Updated Date : 01/02/2021 at 09:59
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,229 sqft
  • Baths : 2 full
Listing Agent

Texas Lifestyle Realty Group

Listing Agent's Description

New Construction MOVE IN DATE approx. end of January 2021! Great HOME or INVESTMENT PROPERTY! Close to downtown Denison & minutes away from Texoma Regional Hospital, Sports Complex. Built by Scott Moody Homes, LLC. The Cottage floorplan delivers quality features at an affordable price. Craftsman style w-expansive front porch, open floorplan, tall ceilings & transitional styling flooded w-natural light. Enjoy floor to ceiling tile in all baths & showers. The kitchen has recessed lighting, stainless steel appliances, granite & spacious pantry. Vinyl floors. Enjoy the FENCED backyard. Here is your Energy efficient & easy to manage home! Several new homes around. More pictures coming

SEE MORE

MARKET HIGHLIGHTS

  • # 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)
  • . Dallas has 7th largest concentration of high-tech jobs in the U.S. (Dallas Chamber)

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
Terrell Elementary School Primary Regular 372 24 5
B Mcdaniel Middle School Middle Regular 670 48 5
Denison High School High Regular 1,243 99 5

Terrell Elementary School

  • Education Level: Primary
  • # of students: 372
  • # of teachers: 24
5
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
 

$148,500$181,500$165,000

PURCHASE PRICE

$1,233$1,507$1,370

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,370
EXPENSES Loan Payment -$609
Property Tax -$378
Property Insurance -$94
Property Management Fees -$99
CASH FLOW
$190

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.

$165,000

PROJECTED PRICE

$1,370

PROJECTED RENT

0.83%

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$100k$200k$300k$400k$500k$600k

PROJECTED ANNUAL CASH FLOW

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

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$45,725

INVESTMENT

$45,725

Down Payment
$41,250
Rehab Estimate
$2,000
Closing Costs
$2,475

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 30% down payment or higher enables the proceeds from the asset to cover all costs.

$609

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $41,250
Loan Amount $123,750
See What Happens When You Reinvest Cash Flow

9.08

YEARS SAVED

$25,152

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,370

    LIST RENT
  • $1.11

    LIST RENT PER SQFT
  • $1,367

    COMP ESTIMATED VALUE
  • $1.11

    COMP AVG. RENT PER SQFT
Comps Range
$1,250
1$1,2502$1,3003$1,3704$1,4505$1,495
$1,495
RENT COMPS ANALYSIS
  • 519 Martin Luther King Street Denison, TX 3
    • 3 beds 2 baths ∙ 1,229 Sqft ∙ Built 2021 3 beds 2 baths ∙ 1,229 Sqft ∙ Built 2021
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,370
    • $1.11
    •  
  • 408 W Johnson Street Denison, TX 1
    • 3 beds 2 baths ∙ 1,175 Sqft ∙ Built 2018 3 beds 2 baths ∙ 1,175 Sqft ∙ Built 2018
    property image
    LEASED 08/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $1.06
    •  
  • 508 W Martin Luther King Street Denison, TX 2
    • 3 beds 2 baths ∙ 1,135 Sqft ∙ Built 2020 3 beds 2 baths ∙ 1,135 Sqft ∙ Built 2020
    property image
    LEASED 11/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $1.15
    •  
  • 931 N Barrett Avenue Denison, TX 4
    • 3 beds 2 baths ∙ 1,252 Sqft ∙ Built 2020 3 beds 2 baths ∙ 1,252 Sqft ∙ Built 2020
    property image
    LEASED 11/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $1.16
    •  
  • 420 W Elm Street Denison, TX 5
    • 3 beds 2 baths ∙ 1,380 Sqft ∙ Built 2020 3 beds 2 baths ∙ 1,380 Sqft ∙ Built 2020
    property image
    LEASED 11/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $1.08
    •  
PROPERTY LISTING DETAILS
Anna Finkenbinder
Texas Lifestyle Realty Group
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14492374
Last Updated: 01/02/2021
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