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224 Port Drive Gun Barrel City, TX 75156

3 Beds 2 Baths 1,501 sqft Built 2021

$199,900

List Price

$1,180

$1.1K - $1.3K

Rent Est.

PROPERTY INFO

Built 2021 NEW CONSTRUCTION
February 06, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2021
  • Price/Sqft : $133.18
  • 2 Days on Market
  • MLS # : 14514275
  • Updated Date : 02/06/2021 at 13:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,501 sqft
  • Baths : 2 full
Listing Agent

Biggs Realty

Listing Agent's Description

Proposed New Construction: Buyer picks brick & interior color package! Home Sweet Homes is a premier builder of high-quality, affordable homes backed by a 10-year builder's warranty. Each home is carefully designed to maximize living space & is constructed with higher-than-average quality materials compared to similar priced homes. Post-tension engineered foundation! This 3 bed, 2 bath beauty on an oversized lot will feature granite countertops, luxury vinyl plank flooring, stainless appliances, large pantry & garage, easy-care tilt windows & more! Mabank schools! Community offers fishing dock, playground and covered pavilion. Boat launch close by! Est. completion 6 months. Full video tour of model available.

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
 

$179,910$219,890$199,900

PURCHASE PRICE

$1,062$1,298$1,180

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,180
EXPENSES Loan Payment -$694
Property Tax -$306
Property Insurance -$111
HOA -$4
Property Management Fees -$99
CASH FLOW
-$34

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.

$199,900

PROJECTED PRICE

$1,180

PROJECTED RENT

0.59%

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

PROJECTED ANNUAL CASH FLOW

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

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$54,974

INVESTMENT

$54,974

Down Payment
$49,975
Rehab Estimate
$2,000
Closing Costs
$2,999

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$694

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $49,975
Loan Amount $149,925
See What Happens When You Reinvest Cash Flow

2.75

YEARS SAVED

$4,394

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,180

    LIST RENT
  • $0.79

    LIST RENT PER SQFT
  • $1,211

    COMP ESTIMATED VALUE
  • $0.81

    COMP AVG. RENT PER SQFT
Comps Range
$1,180
1$1,1802$1,4003$1,4004$1,400
$1,400
RENT COMPS ANALYSIS
  • 224 Port Drive Gun Barrel City, TX 1
    • 3 beds 2 baths ∙ 1,501 Sqft ∙ Built 2021 3 beds 2 baths ∙ 1,501 Sqft ∙ Built 2021
    • Rent
    • Rent Per SQFT
    •  
    • $1,180
    • $0.79
    •  
  • 330 Windjammer Road Gun Barrel City, TX 2
    • 4 beds 2 baths ∙ 1,834 Sqft ∙ Built 2006 4 beds 2 baths ∙ 1,834 Sqft ∙ Built 2006
    LEASED 02/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.76
    •  
  • 226 Flying Bridge Drive Gun Barrel City, TX 3
    • 4 beds 2 baths ∙ 1,794 Sqft ∙ Built 2006 4 beds 2 baths ∙ 1,794 Sqft ∙ Built 2006
    LEASED 04/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.78
    •  
  • 309 Windjammer Road Gun Barrel City, TX 4
    • 4 beds 2 baths ∙ 1,584 Sqft ∙ Built 2006 4 beds 2 baths ∙ 1,584 Sqft ∙ Built 2006
    LEASED 07/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.88
    •  
PROPERTY LISTING DETAILS
Colleen Howell
Biggs Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14514275
Last Updated: 02/06/2021
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