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115 Cottonwood Trail Gun Barrel City, TX 75156

3 Beds 2 Baths 1,845 sqft Built 1992

$283,888

List Price

$1,290

$1.2K - $1.4K

Rent Est.

PROPERTY INFO

January 23, 2021 RECENTLY ADDED
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

MARKET HIGHLIGHTS

  • 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

ZipNIR Market*CityMarket2010Year2000201970k80k90k100k110k120k130k140k150k160k170k180kPrice in $70k190k

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

Zip Code: 75156

No Data Available.

* 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
Mabank High School High Regular 1,023 71 5

Mabank High School

  • Education Level: High
  • # of students: 1,023
  • # of teachers: 71
5
GreatSchools Rating
 

$255,499$312,277$283,888

PURCHASE PRICE

$1,161$1,419$1,290

RENT

DOWN PAYMENT
FINANCING

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

ASSUMPTIONS

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
11530$0.0$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

11530-$8.0k-$6.0k-$4.0k-$2.0k$0.0

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$80,980

INVESTMENT

$80,980

Down Payment
$70,972
Rehab Estimate
$5,750
Closing Costs
$4,258

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 75% down payment or higher enables the proceeds from the asset to cover all costs.

$986

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $70,972
Loan Amount $212,916
See What Happens When You Reinvest Cash Flow

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
$1,000
1$1,0002$1,2903$1,375
$1,375
RENT COMPS ANALYSIS
  • 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
Max Tsai
Ebby Halliday, Realtors
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14505283
Last Updated: 01/23/2021
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