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10803 Gable Drive Dallas, TX 75229

3 Beds 2 Baths 1,385 sqft Built 1984

$234,900

List Price

$1,560

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

December 13, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1984
  • Price/Sqft : $169.60
  • 1 Days on Market
  • MLS # : 14484481
  • Updated Date : 12/12/2020 at 23:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,385 sqft
  • Baths : 2 full
Listing Agent

Compass Re Texas, Llc

Listing Agent's Description

Beautifully renovated Victorian style home located in prime Northwest Dallas area. Home offers modern upgrades throughout! Kitchen features granite countertops, stainless steel appliances, with new shaker cabinets. Completely renewed bathrooms include new vanities, tub, fixtures and tile with shower doors to be installed next week. Beautiful interior with new laminate flooring, a spectacular wrought iron staircase, vaulted ceilings and huge windows overlooking the serene back yard will make you fall in love with this home. Located on a corner lot with plenty of trees in a quiet neighborhood, this cozy home offers both a clean modern feel with a classic Victorian style in a prime Dallas location!

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

Neighborhood: The Gables on Royal Lane

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300k320kPrice in $88k332k

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

Neighborhood: The Gables on Royal Lane

NeighborhoodNIR Market*CityMarket2010Year20002019 Q290010001100120013001400150016001700Rent in $8421734

* 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
F.p. Caillet Elementary School Primary Regular 690 44 6
Thomas C. Marsh Middle School Middle Regular 1,084 69 2
W. T. White High School High Regular 2,290 134 4

F.p. Caillet Elementary School

  • Education Level: Primary
  • # of students: 690
  • # of teachers: 44
6
GreatSchools Rating

Thomas C. Marsh Middle School

  • Education Level: Middle
  • # of students: 1,084
  • # of teachers: 69
2
GreatSchools Rating

W. T. White High School

  • Education Level: High
  • # of students: 2,290
  • # of teachers: 134
4
GreatSchools Rating
 

$211,410$258,390$234,900

PURCHASE PRICE

$1,404$1,716$1,560

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,560
EXPENSES Loan Payment -$867
Property Tax -$557
Property Insurance -$107
HOA -$65
Property Management Fees -$99
CASH FLOW
-$135

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 15% of earned rent to cover both maintenance and periods of vacancy.

$234,900

PROJECTED PRICE

$1,560

PROJECTED RENT

0.66%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.74%
Appreciation Year (1-5) 7.8%
Maintenance Year (1-5) 8.00%
Vacancy 6.69%
Length of Stay Years 2

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-$4.0k-$2.0k$0.0$2.0k$4.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$67,999

INVESTMENT

$67,999

Down Payment
$58,725
Rehab Estimate
$5,750
Closing Costs
$3,524

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$867

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $58,725
Loan Amount $176,175
See What Happens When You Reinvest Cash Flow

1.58

YEARS SAVED

$2,784

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,560

    LIST RENT
  • $1.13

    LIST RENT PER SQFT
  • $1,555

    COMP ESTIMATED VALUE
  • $1.12

    COMP AVG. RENT PER SQFT
Comps Range
$1,495
1$1,4952$1,5603$1,7904$1,8005$1,950
$1,950
RENT COMPS ANALYSIS
  • 10803 Gable Drive Dallas, TX 2
    • 3 beds 2 baths ∙ 1,385 Sqft ∙ Built 1984 3 beds 2 baths ∙ 1,385 Sqft ∙ Built 1984
    • Rent
    • Rent Per SQFT
    •  
    • $1,560
    • $1.13
    •  
  • 10844 Gable Drive Dallas, TX 1
    • 3 beds 2 baths ∙ 1,383 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,383 Sqft ∙ Built 1983
    LEASED 02/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $1.08
    •  
  • 2911 S Bend Drive Dallas, TX 3
    • 3 beds 2 baths ∙ 1,517 Sqft ∙ Built 1988 3 beds 2 baths ∙ 1,517 Sqft ∙ Built 1988
    LEASED 11/11/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,790
    • $1.18
    •  
  • 3663 Stables Lane Dallas, TX 4
    • 3 beds 2 baths ∙ 1,730 Sqft ∙ Built 1969 3 beds 2 baths ∙ 1,730 Sqft ∙ Built 1969
    LEASED 08/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $1.04
    •  
  • 3347 Royal Lane Dallas, TX 5
    • 3 beds 2 baths ∙ 1,638 Sqft ∙ Built 1965 3 beds 2 baths ∙ 1,638 Sqft ∙ Built 1965
    LEASED 12/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $1.19
    •  
PROPERTY LISTING DETAILS
Joe Matyastik
Compass Re Texas, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14484481
Last Updated: 12/12/2020
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