Seller Financing
Address
1505 N Bus 287, Decatur, TX
Price
$ 400,000
Property Attributes
- MLS#20513400
- TypeMulti-Family
- CountyWISE
- CityDecatur
- NeighborhoodTwo Spence Place
- Zip76234
- StyleDuplex
- Year Built2008
- Taxes$ 5660
- Price$ 400,000
- Bedrooms4
- Full Bathrooms2
- Half Bathrooms0
- Lot Size0.371 Acres
Data Source:
North Texas Real Estate Info Systems (NTREIS)
Property Description
Seller will carry 1st, for qualified buyers. 100% Leased, income producing full duplex in the flourishing town of Decatur. Located 35 min north of Ft. Worth & 30 min west of Denton, Decatur is known for its small-town charm & city conveniences. Duplex built in 2008, well insulated & well maintained. Each unit is 2 bed, 1 bath spacious layout of 908sf, covered porches & expansive (unfenced) yards. Duplex sits side-by-side with a similar duplex that is also for sale. MLS#20513584. Large concrete driveway, with generous parking area services both duplex buildings. 1505 on left. 1509 on right. Seller would prefer to sell both duplex buildings to same buyer. This listing is for 1 duplex building, with 2 units. Decatur's population is exploding at a rate of 30%, per EDC. Market rates continue to climb, with shortage of available rental homes to keep up with population growth. This investment property has a very bright income-producing future! Seller will replace roof prior to closing.
| Elementary School |
|---|
| Young Elementary School |
| Price History | |
|---|---|
| 1/20/2024 | Listed $400,000 |
General Features
| Heating | Central |
|---|---|
| Complex Name | Duplex |
| Cooling | Central Air |
| Utilities | Asphalt,City Sewer,City Water |
| Possession | Closing/Funding |
| Roof | Composition |
| Appliances | Dishwasher,Disposal,Electric Range |
| School District | Decatur ISD |
| Capitalization Rate | 5.18 |
| Exclusions | Tenant personal items,including all washers,dryers & fridges. |
| Year Built | 2008 |
| Tenancy | 9 Months or Less |
| Levels | One |
| Unexempt Taxes | 5660 |
| Will Subdivide | No |
| Gross Annual Expenses | 6220.00 |
| Property SubType | Duplex |
| Subdivision Name | Two Spence Place |
| Insurance Expense | 2504 |
| Occupant Type | Tenant |
| County | Wise |
| Operating Expense Includes | Maintenance Grounds |
| Property Type | Residential Income |
| Construction Materials | Siding |
| Year Built Details | Preowned |
| HOA Type | None |
| # of Buildings | 1 |
| Status | Active |
| Directions | From downtown Ft. Worth,Take US-287,N-US-81 N to Wichita St in Decatur,approximately 35 miles. Turn right onto Wichita St. Turn left onto Bus 287 BUS. Property is on left. Large open concrete drivew |
| City | Decatur |
| Buyer Agent Compensation | 2 |
| Elementary School Name | Young |
| High School | Decatur |
| Street Name | Bus 287 |
| Elementary School | Young |
| Virtual Tour URL Unbranded | https://www.propertypanorama.com/instaview/ntreis/20513400 |
| Standard Status | Active |
| Buyer Agent Compensation Type | % |
Interior Features
| Interior Features | Cable TV Available,High Speed Internet Available |
|---|---|
| Flooring | Carpet,Laminate |
| Occupancy Rate | 100 |
| Total Units | 2 |
| Unit Count | 1 |
| Full Baths | 2 |
| Lock Box Type | None |
| Total Bedrooms | 4 |
Exterior Features
| Exterior Features | Covered Patio/Porch |
|---|---|
| Fencing | None |
| Lot Size Source | Appraiser |
| Parking Features | Driveway,Oversized |
| Lot Size | Less Than .5 Acre (not Zero) |
| Foundation | Slab |
| Lot Size Area | 0.3710 |
| Number Of Parking Spaces | 4 |
| Lot Size Units | Acres |
| Building Area Total | 1808.00 |
| Lot Size Square Feet | 16160.7600 |
| Lot Size Acres | 0.3710 |
Amenities
- Foreclosure
- Views
- Short Sale
- New Construction
- Adult 55+
- Lease To Own
- No HOA Fees
- Furnished
- Primary On Main
- Air Conditioning
- Seller Finance
- Green
- Fixer Upper
- Horse
- Golf
- Fireplace
- Deck
- Garage
- Basement
- Pool
Property vs Multi-Family Average in 76234
Price
Taxes
Visits
Year Built
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