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613 Mockingbird Place Corsicana, TX 75110

3 Beds 2 Baths 2,303 sqft Built 2003

INVESTimate

$262,542

List Price

$1,720

$1,548 - $1,892

Rent Est.

$275,118  ( +4.79%)   1 YR EST. FORECAST

PROPERTY INFO

August 19, 2020 RECENTLY ADDED
FACTS
  • Built In 2003
  • Price/Sqft : $114.00
  • 8 Days on Market
  • MLS # : 14415693
  • Updated Date : 08/20/2020 at 04:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,303 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Arlington

Listing Agent's Description

This spacious 3 bedroom 2 bathroom, garden home in Mockingbird Place features recently updated air conditioner and hot water heater in a fantastic location. This garden home has plenty a space with its 2 living areas and large spacious kitchen with JennAir double oven and large breakfast bar. Small side yard and covered back porch. Large utility with plenty of storage. Located on a quiet cul de sac. This home isn’t going to last — schedule your showing before it’s gone.

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: 75110

ZipNIR Market*CityMarket2010Year2000201960k70k80k90k100k110k120k130kPrice in $52k130k

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

Zip Code: 75110

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
Corsicana High School High Regular 1,541 107 4

Corsicana High School

  • Education Level: High
  • # of students: 1,541
  • # of teachers: 107
4
GreatSchools Rating
 

$236,288$288,796$262,542

PURCHASE PRICE

$1,548$1,892$1,720

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k$700k

PROJECTED ANNUAL CASH FLOW

11530-$6.0k-$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$100k$200k$300k$400k$500k$600k$700k

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,720
EXPENSES Loan Payment -$969
Property Tax -$601
Property Insurance -$155
Property Management Fees -$99
CASH FLOW
-$104

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.

$262,542

PROJECTED PRICE

$1,720

PROJECTED RENT

0.66%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.50%
Appreciation Year (1-5) 4.79%
Maintenance Year (1-5) 8.00%
Vacancy 6.00%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$75,324

INVESTMENT

$75,324

Down Payment
$65,636
Rehab Estimate
$5,750
Closing Costs
$3,938

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$969

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $65,636
Loan Amount $196,907
See What Happens When You Reinvest Cash Flow

1.5

YEARS SAVED

$2,705

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,720

    LIST RENT
  • $0.75

    LIST RENT PER SQFT
  • $2,004

    COMP ESTIMATED VALUE
  • $0.87

    COMP AVG. RENT PER SQFT
Comps Range
$1,720
1$1,7202$1,750
$1,750
RENT COMPS ANALYSIS
  • 613 Mockingbird Place Corsicana, TX 1
    • 3 beds 2 baths ∙ 2,303 Sqft ∙ Built 2003 3 beds 2 baths ∙ 2,303 Sqft ∙ Built 2003
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,720
    • $0.75
    •  
  • 805 Medinah Corsicana, TX 2
    • 3 beds 2 baths ∙ 2,020 Sqft ∙ Built 2015 3 beds 2 baths ∙ 2,020 Sqft ∙ Built 2015
    property image
    LEASED 01/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.87
    •  
PROPERTY LISTING DETAILS
Denise Harper
Keller Williams Arlington
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14415693
Last Updated: 08/20/2020
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