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1807 Sea Gull Drive Dallas, TX 75051

3 Beds 3 Baths 1,689 sqft Built 2013

INVESTimate

$254,999

List Price

$1,800

$1,620 - $1,980

Rent Est.

$279,326  ( +9.54%)   1 YR EST. FORECAST

PROPERTY INFO

August 24, 2020 RECENTLY ADDED
FACTS
  • Built In 2013
  • Price/Sqft : $150.98
  • 3 Days on Market
  • MLS # : 14414419
  • Updated Date : 08/24/2020 at 11:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,689 sqft
  • Baths : 2 full , 1 half
Listing Agent

Jp & Associates Frisco

Listing Agent's Description

Make the highly sought after Mountain Creek Lake Community your new HOME minutes from the lake .You will love this two-story, 3 bedroom 2.5 bath, open-concept BEAUTY offering an updated kitchen (stainless steel appliances, updated cabinetry), gorgeous wood laminate flooring and walk-in closets in every bedroom. A split floor plan forms the Master suite complete with garden tub, walk in shower and oversized vanity. If the great outdoors is your thing you can have your morning coffee on the adorable front porch or escape to the generous back yard and relax under the covered patio. This Home offers updates galore including fresh paint, a new roof (January 2020) , and board on Board fence (January 2020).

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

Neighborhood: Mountain Creek Lake

NeighborhoodNIR Market*CityMarket2010Year20002019110k120k130k140k150k160k170k180k190k200k210k220k230k240kPrice in $104k243k

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

Neighborhood: Mountain Creek Lake

NeighborhoodNIR Market*CityMarket2010Year20002019 Q290010001100120013001400150016001700Rent in $8971734

* 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
Hobbs Williams Elementary School Primary Regular 612 38 4
Young Mens Leadership Academy At Kennedy Middle School Middle Regular 895 64 NA
Dubiski Career High School High Regular 1,486 86 8

Hobbs Williams Elementary School

  • Education Level: Primary
  • # of students: 612
  • # of teachers: 38
4
GreatSchools Rating

Young Mens Leadership Academy At Kennedy Middle School

  • Education Level: Middle
  • # of students: 895
  • # of teachers: 64
NA
GreatSchools Rating

Dubiski Career High School

  • Education Level: High
  • # of students: 1,486
  • # of teachers: 86
8
GreatSchools Rating
 

$229,499$280,499$254,999

PURCHASE PRICE

$1,620$1,980$1,800

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

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

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k$900k

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,800
EXPENSES Loan Payment -$941
Property Tax -$605
Property Insurance -$125
Property Management Fees -$99
CASH FLOW
$31

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.

$254,999

PROJECTED PRICE

$1,800

PROJECTED RENT

0.71%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 9.54%
Maintenance Year (1-5) 8.00%
Vacancy 6.39%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$73,325

INVESTMENT

$73,325

Down Payment
$63,750
Rehab Estimate
$5,750
Closing Costs
$3,825

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$941

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $63,750
Loan Amount $191,249
See What Happens When You Reinvest Cash Flow

5.08

YEARS SAVED

$15,828

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,800

    LIST RENT
  • $1.07

    LIST RENT PER SQFT
  • $1,799

    COMP ESTIMATED VALUE
  • $1.07

    COMP AVG. RENT PER SQFT
Comps Range
$1,495
1$1,4952$1,5953$1,7004$1,7005$1,800
$1,800
RENT COMPS ANALYSIS
  • 1807 Sea Gull Drive Dallas, TX 5
    • 3 beds 3 baths ∙ 1,689 Sqft ∙ Built 2013 3 beds 3 baths ∙ 1,689 Sqft ∙ Built 2013
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $1.07
    •  
  • 1725 Hardy Road Grand Prairie, TX 1
    • 3 beds 2 baths ∙ 1,493 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,493 Sqft ∙ Built 2003
    LEASED 04/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $1.00
    •  
  • 1925 Sampsell Drive Dallas, TX 2
    • 3 beds 2 baths ∙ 1,529 Sqft ∙ Built 2007 3 beds 2 baths ∙ 1,529 Sqft ∙ Built 2007
    LEASED 04/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $1.04
    •  
  • 1913 Beach Drive Dallas, TX 3
    • 3 beds 2 baths ∙ 1,529 Sqft ∙ Built 2010 3 beds 2 baths ∙ 1,529 Sqft ∙ Built 2010
    LEASED 12/30/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $1.11
    •  
  • 1944 Sampsell Drive Dallas, TX 4
    • 3 beds 2 baths ∙ 1,529 Sqft ∙ Built 2007 3 beds 2 baths ∙ 1,529 Sqft ∙ Built 2007
    LEASED 03/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $1.11
    •  
PROPERTY LISTING DETAILS
Brandon Curley
Jp & Associates Frisco
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14414419
Last Updated: 08/24/2020
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