Browse Properties
512 N 2nd St
Krum, TX 76249
5.5%
Year 1 Cap Rate$341,910
10 yr cash flow8.39%
10 yr IRRDetails
- Lot size8,624
- Rentable Sq.Ft1,518
- $/Rentable Sq.Ft$214
- Monthly rent$2,110
- Safety deposit$1,910
- Estimated reserve$3,500
- Lease start2023-01-23
- Lease end2024-03-31
- HOANo
- Flood zoneNo
Well-maintained 3-bedroom home in Krum, TX, a desirable Denton County suburb of the Dallas-Fort Worth-Arlington metropolitan area (“DFW”), the 4th largest metro in the United States with over 7.5 million people and consistently one of the fastest growing areas of the country.
The home offers investors value-add upside on top of the projected metrics, through potential cosmetic renovations during the hold period, given the rapidly growing desirability of the Denton County location.
Furthermore, long-term investors stand to benefit from the following factors:
- Low going-in basis for both single family home and rentals in a major metro, with affordable home values and rental rates relative to many other metros in the United States continuing to drive large in-migration into the metro.
- Well rated for all key neighborhood datapoints, including “B” grades for both the overall neighborhood and nearby schools, as provided by Niche
- Accessibility to employment, with the metro being home to 23 Fortune 500 companies, the 4th-largest concentration of Fortune 500 companies in the United States
The home owner will enjoy a limited time special offering of waived property management fees in the first year, in addition to the 12-month rental and repairs guarantee!
Don’t miss your chance to add this home into your portfolio!
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Neighborhood
Niche grades and rankings use rigorously analyzed data and user opinions to assess the key aspects of this neighborhood.
Overall neighborhood score:
512 N 2nd St, Krum, TX 76249
Cost Of Living
Good For Families
Good For Young Professionals
Housing
Jobs
Public Schools
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Financials
| Income | Year 1 | Year 2 | Year 3 | Year 5 | Year 10 |
|---|---|---|---|---|---|
| Rental revenue | $25,320 | $26,371 | $27,689 | $30,527 | $38,962 |
| Vacancy & Collection Loss | ($0) | ($1,055) | ($1,108) | ($1,221) | ($1,558) |
| Operating revenues | $25,320 | $25,316 | $26,581 | $29,306 | $37,404 |
| Expenses | Year 1 | Year 2 | Year 3 | Year 5 | Year 10 |
| Insurance | ($1,610) | ($1,659) | ($1,708) | ($1,812) | ($2,101) |
| Utilities | ($150) | ($155) | ($159) | ($169) | ($196) |
| Leasing Fee | ($0) | ($687) | ($721) | ($795) | ($1,015) |
| Property tax | ($5,169) | ($5,324) | ($5,484) | ($5,818) | ($6,745) |
| Property management | ($0) | ($2,278) | ($2,392) | ($2,638) | ($3,366) |
| Repairs and maintenance | ($633) | ($1,304) | ($1,343) | ($1,425) | ($1,652) |
| Operating expenses | ($7,562) | ($11,407) | ($11,807) | ($12,657) | ($15,075) |
| Net Operating Income | Year 1 | Year 2 | Year 3 | Year 5 | Year 10 |
| Operating revenues | $25,320 | $25,316 | $26,581 | $29,306 | $37,404 |
| Operating expenses | ($7,562) | ($11,407) | ($11,807) | ($12,657) | ($15,075) |
| Net Operating Income | $17,758 | $13,909 | $14,774 | $16,649 | $22,329 |
| Cap Rate | 5.5% | 4.3% | 4.6% | 5.2% | 7.0% |
| Other income & expenses | Year 1 | Year 2 | Year 3 | Year 5 | Year 10 |
| SHARE management | ($1,600) | ($1,648) | ($1,697) | ($1,801) | ($2,088) |
| Drawdown mortgage reserve | ($0) | ($0) | ($0) | ($0) | ($0) |
| Mortgage payments | $0 | $0 | $0 | $0 | $0 |
| Other income & expenses | ($1,600) | ($1,648) | ($1,697) | ($1,801) | ($2,088) |
| Cash flow & yield | Year 1 | Year 2 | Year 3 | Year 5 | Year 10 |
| Cash flow | $16,158 | $12,261 | $13,077 | $14,848 | $20,241 |
| Cash yield | 4.9% | 3.7% | 3.9% | 4.5% | 6.1% |
Acquisition Equity
| Down payment | ($320,000) | |||
|---|---|---|---|---|
| Acquisition fee | ($3,200) | |||
| Title insurance | ($3,200) | |||
| Debt costs | ||||
| Home Buyer Inspection | ($490) | |||
| Leasing Fee | ($1,910) | |||
| Reserves | ($3,500) | |||
| Total | ($332,300) | |||
Disposition Proceeds
| Estimated sale price | $530,000 | |||
|---|---|---|---|---|
| Disposition fee | ($5,300) | |||
| Other disposition costs | ($10,600) | |||
| Year 10 mortgage balance | ($0) | |||
| Total | $514,100 | |||
