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PROPERTY INFO
FACTS
- Single Family
- Built In 1992
- Price/Sqft : $153.87
- 2 Days on Market
- MLS # : 14505283
- Updated Date : 01/23/2021 at 03:00
CONSTRUCTION
- Beds : 3
- Floor Size : 1,845 sqft
- Baths : 2 full
Listing Agent
Ebby Halliday, Realtors
Listing Agent's Description
A must-see if you are looking for a lake house! 1, 845 sf Lake House(per new survey)on a huge 10, 662 sf Lot. Riverfront property, only +-30 seconds to the main water of Cedar Creek Lake. Fully remodeled and renovated in 2018, Ready to receive new owners. Boathouse with Lift, Large Screened living area in the Porch on the waterside with AC. POA has a community Boat Ramp. Detached 450 sf garage has a 2nd-floor play area. Lots of parking spaces for boats and RV. Excellent lake property for owner occupying or AirBnB investor. Price is including most of the existing furniture and all appliances. It is in move-in condition. Great lake location, within 2-3 minutes drive, you will get to major retail and dining area
SEE MORE
- 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)
- . 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)
PRICE & RENT TRENDS
Zip Code: 75156
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Zip Code: 75156
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,290 |
| EXPENSES | Loan Payment | -$986 |
| Property Tax | -$467 | |
| Property Insurance | -$130 | |
| Property Management Fees | -$99 | |
|
CASH FLOW
-$392
|
||
This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 14% of earned rent to cover both maintenance and periods of vacancy.
$283,888
PROJECTED PRICE
$1,290
PROJECTED RENT
0.45%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 2.50% |
| Appreciation Year (1-5) | 9.6% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 6.00% |
| Length of Stay Years | 2 |
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$80,980
LOAN DETAILS
$986
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $70,972 |
| Loan Amount | $212,916 |
0
YEARS SAVED
$12
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,290
LIST RENT -
$0.7
LIST RENT PER SQFT
-
$1,292
COMP ESTIMATED VALUE -
$0.7
COMP AVG. RENT PER SQFT
Comps Range
-
115 Cottonwood Trail Gun Barrel City, TX 2
- 3 beds 2 baths ∙ 1,845 Sqft ∙ Built 1992 3 beds 2 baths ∙ 1,845 Sqft ∙ Built 1992
- Rent
- Rent Per SQFT
- $1,290
- $0.70
-
148 Skylark Drive Mabank, TX 1
- 3 beds 2 baths ∙ 1,704 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,704 Sqft ∙ Built 2003
LEASED 01/15/20- Rent
- Rent Per SQFT
- $1,000
- $0.59
-
101 Clover Drive Gun Barrel City, TX 3
- 4 beds 2 baths ∙ 1,704 Sqft ∙ Built 1985 4 beds 2 baths ∙ 1,704 Sqft ∙ Built 1985
LEASED 11/14/19- Rent
- Rent Per SQFT
- $1,375
- $0.81
PROPERTY LISTING DETAILS
Ebby Halliday, Realtors
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
MLS #: 14505283
Last Updated: 01/23/2021
