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1835 Sea Gull Drive Dallas, TX 75051

3 Beds 2 Baths 1,360 sqft Built 2012

$245,000

List Price

$1,400

$1.3K - $1.5K

Rent Est.

PROPERTY INFO

January 16, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2012
  • Price/Sqft : $180.15
  • 2 Days on Market
  • MLS # : 14501280
  • Updated Date : 01/16/2021 at 17:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,360 sqft
  • Baths : 2 full
Listing Agent

Opendoor Brokerage, Llc

Listing Agent's Description

Built in 2012, this Grand Prairie one-story home offers a two-car garage. This home is vacant and cleaned regularly.

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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
 

$220,500$269,500$245,000

PURCHASE PRICE

$1,260$1,540$1,400

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,400
EXPENSES Loan Payment -$851
Property Tax -$581
Property Insurance -$106
Property Management Fees -$99
CASH FLOW
-$237

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.

$245,000

PROJECTED PRICE

$1,400

PROJECTED RENT

0.57%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.78%
Appreciation Year (1-5) 9.5%
Maintenance Year (1-5) 8.00%
Vacancy 6.39%
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-$6.0k-$4.0k-$2.0k$0.0$2.0k

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$70,675

INVESTMENT

$70,675

Down Payment
$61,250
Rehab Estimate
$5,750
Closing Costs
$3,675

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$851

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $61,250
Loan Amount $183,750
See What Happens When You Reinvest Cash Flow

0.5

YEARS SAVED

$447

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,400

    LIST RENT
  • $1.03

    LIST RENT PER SQFT
  • $1,482

    COMP ESTIMATED VALUE
  • $1.09

    COMP AVG. RENT PER SQFT
Comps Range
$1,400
1$1,4002$1,5003$1,5954$1,6005$1,800
$1,800
RENT COMPS ANALYSIS
  • 1835 Sea Gull Drive Dallas, TX 1
    • 3 beds 2 baths ∙ 1,360 Sqft ∙ Built 2012 3 beds 2 baths ∙ 1,360 Sqft ∙ Built 2012
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $1.03
    •  
  • 1937 E Dickey Drive Dallas, TX 2
    • 3 beds 2 baths ∙ 1,380 Sqft ∙ Built 2010 3 beds 2 baths ∙ 1,380 Sqft ∙ Built 2010
    LEASED 01/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $1.09
    •  
  • 1925 Sampsell Drive Dallas, TX 3
    • 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
    •  
  • 1970 Courtside Drive Dallas, TX 4
    • 3 beds 2 baths ∙ 1,529 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,529 Sqft ∙ Built 2006
    LEASED 09/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $1.05
    •  
  • 1846 Bayfront Drive Dallas, TX 5
    • 3 beds 2 baths ∙ 1,529 Sqft ∙ Built 2010 3 beds 2 baths ∙ 1,529 Sqft ∙ Built 2010
    LEASED 10/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $1.18
    •  
PROPERTY LISTING DETAILS
Feras Rachid
Opendoor Brokerage, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14501280
Last Updated: 01/16/2021
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