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134 First Mate Road Gun Barrel City, TX 75156

4 Beds 2 Baths 1,800 sqft Built 2021

$225,000

List Price

$1,380

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

Built 2021 NEW CONSTRUCTION
January 02, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2021
  • Price/Sqft : $125.00
  • 2 Days on Market
  • MLS # : 14493084
  • Updated Date : 01/02/2021 at 01:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,800 sqft
  • Baths : 2 full
Listing Agent

Avery Realty Group

Listing Agent's Description

NEW HOME CONSTRUCTION NOT YET COMPLETED. BEAUTIFUL BRICK HOME EXTERIOR WITH 4 BDRMS, 2 BTHS, 2 CAR GARAGE APPROX. 1800 SQ FT , GRANITE COUNTER TOPS, S.S. APPLIANCE ( RANGE, MICROWAVE, DISHWASHER) TILE FLOORS THOUGHOUT HOME UNDER AIR EXCEPT BDRMS ARE ALL CARPETED, LIGHT AND BRIGHT OPEN CONCEPT LIVING AREA, KITCHEN WITH BREAKFAST BAR AND WALK- IN PANTRY, MASTER BTH WITH DOUBLE SINKS, SEPARATE SOAKING TUB, TILED SHOWER AND LARGE WALK-IN CLOSET, POST TENSION FOUNDATION, INSULATED WINDOWS AND DOORS. IN GUN BARREL CITY WITH MABANK SCHOOLS, CLOSE TO SHOPPING, ENTERTAINMENT AND CITY SERVICES.

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MARKET HIGHLIGHTS

  • # 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)
  • . Dallas has 7th largest concentration of high-tech jobs in the U.S. (Dallas Chamber)

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

$1,242$1,518$1,380

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,380
EXPENSES Loan Payment -$830
Property Tax -$345
Property Insurance -$127
HOA -$4
Property Management Fees -$99
CASH FLOW
-$25

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 9% of earned rent to cover both maintenance and periods of vacancy.

$225,000

PROJECTED PRICE

$1,380

PROJECTED RENT

0.61%

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) 3.00%
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-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k

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$61,625

INVESTMENT

$61,625

Down Payment
$56,250
Rehab Estimate
$2,000
Closing Costs
$3,375

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% 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

3.25

YEARS SAVED

$7,154

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,380

    LIST RENT
  • $0.77

    LIST RENT PER SQFT
  • $1,374

    COMP ESTIMATED VALUE
  • $0.76

    COMP AVG. RENT PER SQFT
Comps Range
$1,380
1$1,3802$1,4003$1,4004$1,400
$1,400
RENT COMPS ANALYSIS
  • 134 First Mate Road Gun Barrel City, TX 1
    • 4 beds 2 baths ∙ 1,800 Sqft ∙ Built 2021 4 beds 2 baths ∙ 1,800 Sqft ∙ Built 2021
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,380
    • $0.77
    •  
  • 328 Windjammer Road Gun Barrel City, TX 2
    • 4 beds 2 baths ∙ 1,870 Sqft ∙ Built 2006 4 beds 2 baths ∙ 1,870 Sqft ∙ Built 2006
    property image
    LEASED 02/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.75
    •  
  • 330 Windjammer Road Gun Barrel City, TX 3
    • 4 beds 2 baths ∙ 1,834 Sqft ∙ Built 2006 4 beds 2 baths ∙ 1,834 Sqft ∙ Built 2006
    property image
    LEASED 02/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.76
    •  
  • 226 Flying Bridge Drive Gun Barrel City, TX 4
    • 4 beds 2 baths ∙ 1,794 Sqft ∙ Built 2006 4 beds 2 baths ∙ 1,794 Sqft ∙ Built 2006
    property image
    LEASED 04/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.78
    •  
PROPERTY LISTING DETAILS
Richard Avery
Avery Realty Group
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14493084
Last Updated: 01/02/2021
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