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109 Gannet Trail Northlake, TX 76226

3 Beds 3 Baths 2,519 sqft Built 2016

$339,900

List Price

$2,580

$2.3K - $2.8K

Rent Est.

PROPERTY INFO

November 12, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2016
  • Price/Sqft : $134.93
  • 4 Days on Market
  • MLS # : 14469529
  • Updated Date : 11/12/2020 at 22:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,519 sqft
  • Baths : 3 full
Listing Agent

Compass Re Texas, Llc

Listing Agent's Description

Beautiful home located in Harvest Meadows master planned community in Northlake. Featuring 3 bedrooms, 3 full baths, & study. Upgrades including granite countertops, chef's dream kitchen, stone backsplash, extra cabinet storage, decorative lighting & plumbing fixtures, custom built mud area, stone fireplace, iron railing on stairs, covered patio, 8' privacy fence and much more! Upstairs bonus room or the study with french doors could be used as a 4th bedroom. No homes at the back gives you sought after privacy. Great schools and close to shopping. Community amenities include pools, pavilion, ball fields, parks and trails.

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: 76226

ZipNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360k380k400kPrice in $123k416k

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

Zip Code: 76226

ZipNIR Market*CityMarket2010Year20002019 Q212001400160018002000220024002600Rent in $11262773

* 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
Justin Elementary School Primary Regular 506 33 5
Gene Pike Middle School Middle Regular 743 53 7
Northwest High School High Regular 2,793 170 6

Justin Elementary School

  • Education Level: Primary
  • # of students: 506
  • # of teachers: 33
5
GreatSchools Rating

Gene Pike Middle School

  • Education Level: Middle
  • # of students: 743
  • # of teachers: 53
7
GreatSchools Rating

Northwest High School

  • Education Level: High
  • # of students: 2,793
  • # of teachers: 170
6
GreatSchools Rating
 

$305,910$373,890$339,900

PURCHASE PRICE

$2,322$2,838$2,580

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,580
EXPENSES Loan Payment -$1,254
Property Tax -$798
Property Insurance -$173
HOA -$92
Property Management Fees -$99
CASH FLOW
$165

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.

$339,900

PROJECTED PRICE

$2,580

PROJECTED RENT

0.76%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 4.6%
Maintenance Year (1-5) 8.00%
Vacancy 6.93%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$95,824

INVESTMENT

$95,824

Down Payment
$84,975
Rehab Estimate
$5,750
Closing Costs
$5,099

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,254

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $84,975
Loan Amount $254,925
See What Happens When You Reinvest Cash Flow

6.58

YEARS SAVED

$31,853

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,580

    LIST RENT
  • $1.02

    LIST RENT PER SQFT
  • $2,746

    COMP ESTIMATED VALUE
  • $1.09

    COMP AVG. RENT PER SQFT
Comps Range
$2,580
1$2,5802$2,6003$2,6504$2,7005$2,800
$2,800
RENT COMPS ANALYSIS
  • 109 Gannet Trail Northlake, TX 1
    • 3 beds 3 baths ∙ 2,519 Sqft ∙ Built 2016 3 beds 3 baths ∙ 2,519 Sqft ∙ Built 2016
    • Rent
    • Rent Per SQFT
    •  
    • $2,580
    • $1.02
    •  
  • 113 Oakmont Drive Argyle, TX 2
    • 4 beds 3 baths ∙ 2,517 Sqft ∙ Built 2016 4 beds 3 baths ∙ 2,517 Sqft ∙ Built 2016
    LEASED 03/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $1.03
    •  
  • 1824 Sparrow Street Argyle, TX 3
    • 4 beds 3 baths ∙ 2,415 Sqft ∙ Built 2016 4 beds 3 baths ∙ 2,415 Sqft ∙ Built 2016
    LEASED 05/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,650
    • $1.10
    •  
  • 709 Fenceline Drive Argyle, TX 4
    • 4 beds 3 baths ∙ 2,488 Sqft ∙ Built 2014 4 beds 3 baths ∙ 2,488 Sqft ∙ Built 2014
    LEASED 02/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $1.09
    •  
  • 109 Lilypad Bend Argyle, TX 5
    • 4 beds 3 baths ∙ 2,465 Sqft ∙ Built 2015 4 beds 3 baths ∙ 2,465 Sqft ∙ Built 2015
    LEASED 05/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $1.14
    •  
PROPERTY LISTING DETAILS
Swapnil Sharma
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 #: 14469529
Last Updated: 11/12/2020
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