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907 N Barrett Avenue Denison, TX 75020

3 Beds 2 Baths 1,142 sqft Built 2020

INVESTimate

$165,000

List Price

$1,160

$1,044 - $1,276

Rent Est.

$180,708  ( +9.52%)   1 YR EST. FORECAST

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
August 21, 2020 RECENTLY ADDED
FACTS
  • Built In 2020
  • Price/Sqft : $144.48
  • 6 Days on Market
  • MLS # : 14418038
  • Updated Date : 08/21/2020 at 13:09
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,142 sqft
  • Baths : 2 full
Listing Agent

Re/max Signature Properties

Listing Agent's Description

Energy efficient 3 bedroom, 2 bathroom brick home in Denison. This home is almost complete and will ready for a buyer soon! Vinyl plank flooring will be throughout. Kitchen will offer granite counter tops and stainless steel appliances, including a refrigerator, which will be installed. Backyard will be fenced in. Home is in close proximity to Historic Downtown Denison. Come take a look 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
 

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

PURCHASE PRICE

$1,044$1,276$1,160

RENT

DOWN PAYMENT
FINANCING

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,160
EXPENSES Loan Payment -$609
Property Tax -$378
Property Insurance -$89
Property Management Fees -$99
CASH FLOW
-$16

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

$1,160

PROJECTED RENT

0.70%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.50%
Appreciation Year (1-5) 9.52%
Maintenance Year (1-5) 3.00%
Vacancy 6.00%
Length of Stay Years 2

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 50% 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

2.75

YEARS SAVED

$4,279

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,160

    LIST RENT
  • $1.02

    LIST RENT PER SQFT
  • $1,159

    COMP ESTIMATED VALUE
  • $1.02

    COMP AVG. RENT PER SQFT
Comps Range
$1,160
1$1,1602$1,2003$1,2504$1,2505$1,325
$1,325
RENT COMPS ANALYSIS
  • 907 N Barrett Avenue Denison, TX 1
    • 3 beds 2 baths ∙ 1,142 Sqft ∙ Built 2020 3 beds 2 baths ∙ 1,142 Sqft ∙ Built 2020
    • Rent
    • Rent Per SQFT
    •  
    • $1,160
    • $1.02
    •  
  • 419 W Johnson Street Denison, TX 2
    • 3 beds 2 baths ∙ 1,226 Sqft ∙ Built 2016 3 beds 2 baths ∙ 1,226 Sqft ∙ Built 2016
    LEASED 10/29/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,200
    • $0.98
    •  
  • 731 W Bond Street Denison, TX 3
    • 3 beds 2 baths ∙ 1,277 Sqft ∙ Built 2018 3 beds 2 baths ∙ 1,277 Sqft ∙ Built 2018
    LEASED 01/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $0.98
    •  
  • 408 W Johnson Street Denison, TX 4
    • 3 beds 2 baths ∙ 1,175 Sqft ∙ Built 2018 3 beds 2 baths ∙ 1,175 Sqft ∙ Built 2018
    LEASED 08/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $1.06
    •  
  • 731 W Morton Street Denison, TX 5
    • 3 beds 2 baths ∙ 1,277 Sqft ∙ Built 2018 3 beds 2 baths ∙ 1,277 Sqft ∙ Built 2018
    LEASED 06/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,325
    • $1.04
    •  
PROPERTY LISTING DETAILS
Evan Martin
Re/max Signature Properties
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14418038
Last Updated: 08/21/2020
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