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526 W Morton Street Denison, TX 75020

3 Beds 3 Baths 1,892 sqft Built 2020

$236,500

List Price

$1,450

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
February 11, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2020
  • Price/Sqft : $125.00
  • 4 Days on Market
  • MLS # : 14515175
  • Updated Date : 02/11/2021 at 15:16
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,892 sqft
  • Baths : 3 full
Listing Agent

Milestone Premier Properties

Listing Agent's Description

NEW CONSTRUCTION - 3 BEDROOMS + 3 BATHROOMS!!!! AVAILABLE TODAY!!! Come check out this beautiful Jerrin Holt Homes build in Denison!! Construction started in 2020 and was just completed this month!! This spacious single family home has 3 bedrooms and 3 bathrooms, offering energy efficient features, high-end finishes, custom floor to ceiling cabinets, granite countertops, high-ceilings, recessed lighting, and TANKLESS WATER HEATER. Stained concrete floors in the open concept living and kitchen area. This home offers front parking with a 2-car garage and also rear uncovered parking!! Contact your favorite agent to schedule your private showing today!!!

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
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
 

$212,850$260,150$236,500

PURCHASE PRICE

$1,305$1,595$1,450

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,450
EXPENSES Loan Payment -$821
Property Tax -$542
Property Insurance -$130
Property Management Fees -$99
CASH FLOW
-$143

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.

$236,500

PROJECTED PRICE

$1,450

PROJECTED RENT

0.61%

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$700k$800k

PROJECTED ANNUAL CASH FLOW

11530-$5.0k-$4.0k-$3.0k-$2.0k-$1.0k$0.0$1.0k$2.0k$3.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$64,673

INVESTMENT

$64,673

Down Payment
$59,125
Rehab Estimate
$2,000
Closing Costs
$3,548

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$821

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $59,125
Loan Amount $177,375
See What Happens When You Reinvest Cash Flow

0.67

YEARS SAVED

$695

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,450

    LIST RENT
  • $0.77

    LIST RENT PER SQFT
  • $1,750

    COMP ESTIMATED VALUE
  • $0.93

    COMP AVG. RENT PER SQFT
Comps Range
$1,450
1$1,4502$1,6953$1,700
$1,700
RENT COMPS ANALYSIS
  • 526 W Morton Street Denison, TX 1
    • 3 beds 3 baths ∙ 1,892 Sqft ∙ Built 2020 3 beds 3 baths ∙ 1,892 Sqft ∙ Built 2020
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.77
    •  
  • 305 W Johnson Street Denison, TX 2
    • 3 beds 3 baths ∙ 1,904 Sqft ∙ Built 2020 3 beds 3 baths ∙ 1,904 Sqft ∙ Built 2020
    LEASED 09/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.89
    •  
  • 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 08/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.96
    •  
PROPERTY LISTING DETAILS
Brandi Jonse
Milestone Premier Properties
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14515175
Last Updated: 02/11/2021
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