Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

123 Santa Monica Drive Gun Barrel City, TX 75156

3 Beds 2 Baths 1,573 sqft Built 2000

$225,000

List Price

$1,070

$963 - $1.2K

Rent Est.

PROPERTY INFO

October 31, 2020 RECENTLY ADDED
FACTS
  • Built In 2000
  • Price/Sqft : $143.04
  • 5 Days on Market
  • MLS # : 14463365
  • Updated Date : 10/31/2020 at 01:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,573 sqft
  • Baths : 2 full
Listing Agent

Tx Lake & Land Real Estate

Listing Agent's Description

Light, bright and ready to move in home in gated Spanish Shores! This charming 3 bedroom, 2 bath and 2 car garage home is located in the heart of Cedar Creek Lake. Lake views from the front and peaceful secluded covered porch in the back of the home. The gated community offers miles of biking and walking areas, POA park and one of the best boat launch ramps on the lake.

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: 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
 

$202,500$247,500$225,000

PURCHASE PRICE

$963$1,177$1,070

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,070
EXPENSES Loan Payment -$830
Property Tax -$370
Property Insurance -$115
HOA -$25
Property Management Fees -$99
CASH FLOW
-$369

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.

$225,000

PROJECTED PRICE

$1,070

PROJECTED RENT

0.48%

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$100k$200k$300k$400k$500k$600k$700k$800k

PROJECTED ANNUAL CASH FLOW

11530-$8.0k-$7.0k-$6.0k-$5.0k-$4.0k-$3.0k-$2.0k-$1.0k$0.0

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$65,375

INVESTMENT

$65,375

Down Payment
$56,250
Rehab Estimate
$5,750
Closing Costs
$3,375

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 80% down payment or higher enables the proceeds from the asset to cover all costs.

$830

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $56,250
Loan Amount $168,750
See What Happens When You Reinvest Cash Flow

-0.08

YEARS SAVED

-$1

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,070

    LIST RENT
  • $0.68

    LIST RENT PER SQFT
  • $928

    COMP ESTIMATED VALUE
  • $0.59

    COMP AVG. RENT PER SQFT
Comps Range
$1,000
1$1,0002$1,070
$1,070
RENT COMPS ANALYSIS
  • 123 Santa Monica Drive Gun Barrel City, TX 2
    • 3 beds 2 baths ∙ 1,573 Sqft ∙ Built 2000 3 beds 2 baths ∙ 1,573 Sqft ∙ Built 2000
    • Rent
    • Rent Per SQFT
    •  
    • $1,070
    • $0.68
    •  
  • 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
    •  
PROPERTY LISTING DETAILS
Courtney Dickens
Tx Lake & Land Real Estate
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14463365
Last Updated: 10/31/2020
BESbswy