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531 E Munson Denison, TX 75021

3 Beds 2 Baths 1,254 sqft Built 2020

$170,000

List Price

$1,220

$1.1K - $1.3K

Rent Est.

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
December 10, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2020
  • Price/Sqft : $135.57
  • 4 Days on Market
  • MLS # : 14483767
  • Updated Date : 12/10/2020 at 13:43
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,254 sqft
  • Baths : 2 full
Listing Agent

Legacy Point Realty

Listing Agent's Description

BEAUTIFUL NEW CONSTRUCTION HOME! You won't want to miss this luxurious 3 bedroom, 2 bath home in Denison. Builder offers amenities most builders don't like gas appliances, gas tankless hot water heater, ceiling fans in ALL bedrooms, and 16 seer AC unit. You're going to fall in love with this open concept floor plan with stained concrete floors as soon as you walk in. Gas heating, granite counter tops, under cabinet lighting, recessed lights throughout home. Another new construction home available two blocks away from the same builder. Don't miss out on this captivating home, call for your private tour 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: 75021

ZipNIR Market*CityMarket2010Year2002201960k70k80k90k100k110k120k130k140k150k160kPrice in $55k166k

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

Zip Code: 75021

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
Lamar Elementary School Primary Regular 439 27 5
B Mcdaniel Middle School Middle Regular 670 48 5
Denison High School High Regular 1,243 99 5

Lamar Elementary School

  • Education Level: Primary
  • # of students: 439
  • # of teachers: 27
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
 

$153,000$187,000$170,000

PURCHASE PRICE

$1,098$1,342$1,220

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,220
EXPENSES Loan Payment -$627
Property Tax -$390
Property Insurance -$96
Property Management Fees -$99
CASH FLOW
$9

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.

$170,000

PROJECTED PRICE

$1,220

PROJECTED RENT

0.72%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.50%
Appreciation Year (1-5) 4.9%
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

PROJECTED ANNUAL CASH FLOW

11530-$2.0k-$1.0k$0.0$1.0k$2.0k$3.0k$4.0k$5.0k$6.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$47,050

INVESTMENT

$47,050

Down Payment
$42,500
Rehab Estimate
$2,000
Closing Costs
$2,550

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$627

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $42,500
Loan Amount $127,500
See What Happens When You Reinvest Cash Flow

3.42

YEARS SAVED

$5,767

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,220

    LIST RENT
  • $0.97

    LIST RENT PER SQFT
  • $1,339

    COMP ESTIMATED VALUE
  • $1.07

    COMP AVG. RENT PER SQFT
Comps Range
$1,220
1$1,2202$1,2503$1,2504$1,2505$1,500
$1,500
RENT COMPS ANALYSIS
  • 531 E Munson Denison, TX 1
    • 3 beds 2 baths ∙ 1,254 Sqft ∙ Built 2020 3 beds 2 baths ∙ 1,254 Sqft ∙ Built 2020
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,220
    • $0.97
    •  
  • 429 E Shepherd Street Denison, TX 2
    • 3 beds 2 baths ∙ 1,173 Sqft ∙ Built 2018 3 beds 2 baths ∙ 1,173 Sqft ∙ Built 2018
    property image
    LEASED 08/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $1.07
    •  
  • 424 E Shepherd Street Denison, TX 3
    • 3 beds 2 baths ∙ 1,205 Sqft ∙ Built 2019 3 beds 2 baths ∙ 1,205 Sqft ∙ Built 2019
    property image
    LEASED 07/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $1.04
    •  
  • 607 Day Street Denison, TX 4
    • 3 beds 2 baths ∙ 1,232 Sqft ∙ Built 2020 3 beds 2 baths ∙ 1,232 Sqft ∙ Built 2020
    property image
    LEASED 11/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $1.01
    •  
  • 612 E Shepherd Street Denison, TX 5
    • 3 beds 2 baths ∙ 1,300 Sqft ∙ Built 2020 3 beds 2 baths ∙ 1,300 Sqft ∙ Built 2020
    property image
    LEASED 11/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $1.15
    •  
PROPERTY LISTING DETAILS
John Andersen
Legacy Point Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14483767
Last Updated: 12/10/2020
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