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901 W Nelson Street Denison, TX 75020

3 Beds 2 Baths 1,350 sqft Built 2020

$174,000

List Price

$1,310

$1.2K - $1.4K

Rent Est.

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
February 11, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2020
  • Price/Sqft : $128.89
  • 4 Days on Market
  • MLS # : 14517378
  • Updated Date : 02/11/2021 at 17:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,350 sqft
  • Baths : 2 full
Listing Agent

C-21 Dean Gilbert, Realtors

Listing Agent's Description

Great Investment opportunity! Has tenant in place until March 2022! NEW CONSTRUCTION + Garage!!! This 3 Bedroom, 2 Bathroom home offers beautiful finishes including extremely durable wood-look tile flooring, wood trim, stainless steel appliances, granite counter tops, subway tile and MORE! 2 car-garage, concrete driveway and a porch included on the side of the house.

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
Houston Elementary School Primary Regular 291 20 4
B Mcdaniel Middle School Middle Regular 670 48 5
Denison High School High Regular 1,243 99 5

Houston Elementary School

  • Education Level: Primary
  • # of students: 291
  • # of teachers: 20
4
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
 

$156,600$191,400$174,000

PURCHASE PRICE

$1,179$1,441$1,310

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,310
EXPENSES Loan Payment -$604
Property Tax -$451
Property Insurance -$101
Property Management Fees -$99
CASH FLOW
$55

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.

$174,000

PROJECTED PRICE

$1,310

PROJECTED RENT

0.75%

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-$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$500k$600k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$48,110

INVESTMENT

$48,110

Down Payment
$43,500
Rehab Estimate
$2,000
Closing Costs
$2,610

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$604

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $43,500
Loan Amount $130,500
See What Happens When You Reinvest Cash Flow

4.08

YEARS SAVED

$6,631

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,310

    LIST RENT
  • $0.97

    LIST RENT PER SQFT
  • $1,488

    COMP ESTIMATED VALUE
  • $1.1

    COMP AVG. RENT PER SQFT
Comps Range
$1,275
1$1,2752$1,2753$1,3104$1,3245$1,399
$1,399
RENT COMPS ANALYSIS
  • 901 W Nelson Street Denison, TX 3
    • 3 beds 2 baths ∙ 1,350 Sqft ∙ Built 2020 3 beds 2 baths ∙ 1,350 Sqft ∙ Built 2020
    • Rent
    • Rent Per SQFT
    •  
    • $1,310
    • $0.97
    •  
  • 705 W Hull Street Denison, TX 1
    • 3 beds 2 baths ∙ 1,174 Sqft ∙ Built 2017 3 beds 2 baths ∙ 1,174 Sqft ∙ Built 2017
    LEASED 05/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,275
    • $1.09
    •  
  • 721 W Texas Denison, TX 2
    • 3 beds 2 baths ∙ 1,185 Sqft ∙ Built 2018 3 beds 2 baths ∙ 1,185 Sqft ∙ Built 2018
    LEASED 11/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,275
    • $1.08
    •  
  • 1216 W Nelson Street Denison, TX 4
    • 3 beds 2 baths ∙ 1,200 Sqft ∙ Built 2019 3 beds 2 baths ∙ 1,200 Sqft ∙ Built 2019
    LEASED 01/08/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,324
    • $1.10
    •  
  • 719 W Texas Street Denison, TX 5
    • 3 beds 2 baths ∙ 1,232 Sqft ∙ Built 2017 3 beds 2 baths ∙ 1,232 Sqft ∙ Built 2017
    LEASED 04/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,399
    • $1.14
    •  
PROPERTY LISTING DETAILS
Clay Gilbert
C-21 Dean Gilbert, Realtors
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14517378
Last Updated: 02/11/2021
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